• Second Cockie Creek drill hole, CCDD002, confirms higher grades and broader width of porphyry copper and gold mineralisation at deeper levels:
o 117m @ 0.52% Cu, 0.11g/t Au and 109ppm Mo from 20m (CCDD002)
o incl. 71m @ 0.69% Cu, 0.13g/t Au and 158ppm Mo from 27m
o incl. 36m @ 0.77% Cu, 0.14g/t Au and 146ppm Mo from 56m
o incl. 10m @ 1.08% Cu, 0.20g/t Au and 44ppm Mo from 56m
• CCDD002 confirms good continuity of mineralisation eastwards from CCDDD001, which returned:
o 71m @ 0.48% Cu and 70ppm Mo from 16m (CCDD001)1 o incl. 31m @ 0.65% Cu and 80ppm Mo from 36m
• Assays are from eastern part of the Mineral Resource area (Discovery Outcrop) and confirm strong nature of mineralisation within the Resource envelope
• Sulphide mineral assemblages, mineralisation grades and the presence of abundant porphyry “B veins” and late-stage “D veins” at Cockie Creek are all features typical of porphyry Cu-Au-Mo deposits
• Mineral Resource area (Discovery Outcrop) crops out at surface and likely to represent one of several hydrothermal fluid pathways originating from a mineralised porphyry core located beneath the Discovery Outcrop
• Porphyry intrusions and mineralisation thickening with depth. Mineralisation also broadens westwards from the Discovery Outcrop towards interpreted large porphyry intrusion centres
• Potential for the discovery of a large porphyry Cu-Au-Mo mineralisation system
• Numerous batches of assays yet to be received from the labs
Superior Resources Limited (ASX:SPQ) (Superior, the Company) announces new copper and gold assay results from the second hole drilled (CCDD002) under the Company’s maiden program at the Cockie Creek Prospect. Cockie Creek is one of several porphyry copper-gold-molybdenum prospects within the Company’s 100%-owned Greenvale Project.
The copper and gold assays from CCDD002 are of relatively high grade in terms of porphyry copper-gold- molybdenum deposits and confirm the grades encountered in nearby historical drill holes. The assays are also similar, but stronger, than those encountered in CCDD001, the first drill hole in the program (refer to ASX announcement dated 25 September 2023).
In particular, the assays continue to confirm that the actual copper grades have consistently exceeded visual estimations of chalcopyrite mineralisation observed within the core.
Observations from the mineralisation, including the extensive strong potassic alteration indicate the possibility that a potassic core may be located nearby and beneath the Discovery Outcrop.
The current program represents the first systematic drilling at Cockie for over 30 years and the first to target the prospect as a porphyry system. The program as planned comprises 17 HQ diamond core holes for a total of 6,650m with the following objectives:
• target two high order induced polarisation (IP) chargeability anomalies directly below the Discovery Outcrop. The chargeability anomalies are interpreted to represent the upper zones of a mineralised Cu-Au-Mo porphyry core;
• target interpreted large intrusion centres west of the Discovery Outcrop; and
• establish a JORC (2012)-compliant upgraded Mineral Resource Estimate on the Discovery Outcrop.
Completed drilling to date comprises seven holes for a total of 2,773 metres of core.
Superior’s Managing Director, Peter Hwang commented:
“Cockie Creek continues to impress with the consistent intensity and continuity of copper mineralisation being returned from each batch of assays from the labs. Based on our visual examinations of core from the other holes, we expect strong results to continue.
“This is a strong mineralisation system that exhibits well developed geological features that are typical of copper-gold-molybdenum porphyry deposits.
“The work ahead of us now is to interpret all of the geological information contained in the core together with the assay results as they are received from the labs. This will enable the development of a mineralisation system model to vector the next holes towards the core of the system, which potentially could be located close to the current levels of drilling. We are aiming to continue the drilling towards the end of the year.”