Placement to accelerate gold resource growth and advance feasibility studies for near-term gold production
HIGHLIGHTS:
• Strongly supported $1.75m placement from new and existing wholesale, high net worth and institutional investors.
• Funds will support a 3,000m drill program at Superior’s wholly owned Steam Engine Gold Project, targeting expansion of the 194,000oz Au JORC Mineral Resource.
• Feasibility Study programs at Steam Engine will continue to advance in parallel which are focused on a toll-treatment development pathway, allowing for potential early-stage production at relatively low pre-production CAPEX.
• 3,000m drilling program together with soil and geophysical survey programs being prepared for the Telegraph and Halls Reward Copper Prospects, which have previously returned ultra-high grade rock chips (assays up to 46.5% Cu).
• Superior’s wholly owned Greenvale Project strategically covers 150km of district-scale strike hosting multiple gold and copper prospects, offering significant long-term growth potential.
Superior’s Managing Director, Peter Hwang, said: “We are delighted to welcome a number of new investors to the Company through this strongly supported placement, which underscores the growing market interest in the substantial gold and copper opportunity we are advancing across the Greenvale Project. The funding enables us to move quickly into the next phase of drilling at Steam Engine, aimed at delivering meaningful growth to the existing Mineral Resource. In parallel, feasibility study work is continuing to advance, assessing a pathway to achieve near-term gold production and early operating cashflow through toll-treatment.
“Alongside the growth initiatives planned at Steam Engine, we are also preparing exploration and drilling programs for the Halls Reward and Telegraph copper prospects, which we regard as exceptional high-grade and large-scale opportunities. Our broader Greenvale Project holds significant latent potential, and we remain committed to unlocking the long-term strategic value of our extensive tenement package.
“With gold and copper markets remaining strong, it is an excellent time to be progressing these programs with funding in hand. I look forward to updating shareholders as this important work advances.”
Read the announcement via this link