• Recent geological mapping and high-grade rock chip assays up to 65.9 g/t Au at historic Windmill East and Origin prospects identify potential 4km gold corridor between Steam Engine’s Dinner Creek Lode and northern edge of Bottletree Copper Prospect
• Multiple parallel, poorly exposed gold lodes, with substantial strike lengths at Windmill East and Origin appear identical to Steam Engine Lode, largely untested by drilling
• Excellent potential to add substantial ounces to Steam Engine Mineral Resource
• Windmill East/Origin, Steam Engine, Dinner Creek and large alteration zones on eastern edge of Bottletree likely to be closely related gold-mineralised systems
Superior Resources Limited (ASX:SPQ) announced today the identification of two areas containing significantly mineralised multiple gold lodes, located between Steam Engine and Bottletree prospects, at its 100%-owned Greenvale Project, approximately 210kms west of Townsville, Queensland.
Although the Company has not conducted any prior work at the new Windmill East and Origin prospects, the lodes appear to be highly mineralised and identical in style to the Steam Engine Lode. Rock chips collected during November 2021 returned up to 65.9 g/t Au from Origin and up to 18.6 g/t Au from Windmill East.
Gold-in-soil geochemical data over the area indicates that Windmill East and Origin are directly on-trend to the Dinner Creek Lode, located about 1.5 kms to the north east. A large anomalous zone of gold-in-soils located around the outer northern edge of the Bottletree Copper Prospect lies about 1km to the south of Origin.
The Windmill East and Origin prospects provide Superior with excellent potential to significantly increase total Resource ounces for the Steam Engine Project, further boosting the potential of the project, which currently totals 1.73 million tonnes grading 2.2 g/t Au for 122,000 ounces of gold.
Superior’s Managing Director, Peter Hwang commented: “The discovery of high-grade gold in rock chips from the poorly exposed Windmill East-Origin prospects is a truly exciting development for this emerging North Queensland gold project. Together with detailed geological mapping, we are only just beginning to appreciate that the Steam Engine gold system is a much larger system than previously thought.
“We have now traced Steam Engine-type gold lodes and mineralisation in a regular pattern stretching from the Dinner Creek Lode to the southern edge of the Bottletree Prospect, which is about six kilometres to the south. In addition to the exciting developments at Bottletree, we will also be expanding our exploration plans for Steam Engine to test its potential to be a major gold deposit.
“We look forward to releasing an upgraded Mineral Resource Estimate for Steam Engine during February, as we progress an interim strategy study that compares the merits of establishing a scalable processing plant against various haulage and toll-treatment pathways.
“These are exciting times for Superior, with Steam Engine’s large-scale potential adding to the recent ground-breaking copper developments revealed at the nearby Bottletree Copper Prospect, and with the market starting to appreciate the potential of our new discoveries.”