HIGHLIGHTS
Steam Engine Gold Project
• Feasibility Study workstreams have continued, primarily focused on a toll-treatment development pathway to support potential near-term production.
• During and following the end of the Quarter, adverse weather events delayed the execution of a planned resource expansion drilling program of up to 3,000m.
• Superior intends to proceed with the drilling program, while having regard to the Company’s optimisation initiatives.
• Funding and financing discussions are ongoing with gold-focussed international funds for various development scenarios.
Halls Reward & Telegraph Copper Prospects
• During and following the end of the Quarter, ongoing adverse weather events delayed progress toward the final design and planning of RC and diamond drilling of up to 3,000m.
• The prospects host previously reported high-grade rock chip and mullock assays of up to 46.50% Cu at Halls Reward and 10.99% Cu at Telegraph, as well as a 1.5km x 0.5km high-order soil-copper anomaly that remains untested by drilling.
• Superior intends to proceed with the drilling program, while having regard to the Company’s optimisation initiatives.
Corporate
• Optimisation Initiatives: Superior is refining its intended drilling programs at Steam Engine, Halls Reward and Telegraph. The Company’s objective is to maximise the efficiency of its exploration expenditure while having regard to the following:
o Superior’s continued discussions with several large, well-funded third-party resources companies regarding potential joint arrangements for its Greenvale Project.
o Other compelling exploration opportunities within the Greenvale Project in proximity to planned drilling activities, which may enhance drill rig utilisation and efficiency.
• Following the end of the Quarter, the Company has expanded its discussions to include additional significant third-party resources companies regarding potential joint arrangements for the Greenvale Project.
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