Updates on Revised MRE, Contractors, 2025 Drilling Program
HIGHLIGHTS
- Geological and wireframe models of the Steam Engine mineralisation have been completed and provided to independent consultants for block modelling and calculation of an updated Mineral Resource Estimate (MRE)
- The updated MRE will incorporate results from the drilling conducted at Steam Engine during 2024. The 2024 drilling program focussed on extending the Steam Engine Lode northwards along strike and the Eastern Ridge Lode, northwards and also to the south
- Strike extensions of mineralisation that fall above pre-determined grade cut-offs are expected to improve the project financials
- The updated block model and MRE is expected to be received and reported during the next Quarter
On the project development front, progress has also been made, including:
– metallurgical assessment of Steam Engine mineralisation by a potential toll processing party;
– an indicative proposal received and discussions with other potential haulage contractors;
– native title and Aboriginal cultural heritage procedures; and
– preparation of a mining lease application.
- Preparations are underway for highly anticipated drill-testing of the sub-audio magnetics (SAM) geophysical targets that may represent previously unknown gold lodes as well as further Resource expansion drilling
Superior’s Managing Director, Peter Hwang commented: “Although there has been some lead-time with the Steam Engine project development process, we are very pleased to see strong progress being made. There are numerous lines of work currently being progressed and we look forward to updating the market over the next calendar quarter on several of these fronts.”
Read the announcement via this link