- Latest drill holes from Cockie Creek confirm strong visually observed copper sulphide mineralisation continues to be intersected for significant distances outside historically reported mineralisation envelope
- A previously unknown second zone of mineralisation located north of and parallel to the historical copper zone has been intersected in deeper holes and significantly broadens with depth
- Mineralisation broadens westwards from the historical copper zone towards potential larger porphyry intrusion centres and with depth
- Compelling magnetic anomalies and historical drilling identify a Western Extension Zone of the historical mineralisation near large magnetic features interpreted as porphyry system centres
- Numerous zones of intense biotite alteration representing high temperature porphyry potassic-altered hydrothermal fluid pathways
- Program objectives have expanded due to increasingly positive drill results:
- Targeting two high order, induced polarisation (IP) chargeability anomalies directly below the historical copper zone. Chargeability anomalies interpreted to represent potential upper zones of a mineralised Cu-Au-Molybdenite porphyry system
- Targeting potentially larger intrusion centres west of historical copper zone
- Resource definition drilling of Cu-Au-Molybdenite deposit to establish a JORC (2012) compliant Mineral Resource Estimate and to expand the size of the Mineral Resource
- Drill program expanded with most holes being extended at depth and new holes added
- Significant potential for the discovery of a large porphyry Cu-Au-Molybdenite mineralisation system
- Identified significant potential to expand the historic Mineral Resource Estimate of 13Mt @ 0.42% Cu (0.25% Cu cut-off grade) (JORC 2004)1, which was established over only about half of the known strike of mineralisation at surface and only to shallow depths
- Main period of historic exploration over 30 years ago focussed on the shallow, sub-surface copper mineralisation with no exploration targeting a porphyry system
Superior Resources Limited (ASX:SPQ) (Superior, the Company) announces continued strong porphyry copper mineralisation from the latest drill holes in the Company’s maiden drilling program at the Cockie Creek Prospect. Cockie Creek is one of several copper porphyry prospects within the Company’s 100%-owned Greenvale Project.
Cockie Creek is a porphyry copper-gold-molybdenum system. Historic exploration drilling conducted over 30 years ago identified extensive near-surface copper mineralisation over at least 1.2 kilometres. Sufficient historical drill hole data enabled the Company to prepare an historical Mineral Resource Estimate in respect of half of the known surface mineralisation strike. Immediately below the Resource, a high order induced polarisation (IP) chargeability anomaly extends to undetermined depths.
Cockie Creek has been subjected to very limited historical exploration and prior explorers did not explore the prospect as a porphyry Cu-Au system. Consequently, the current drilling program is the first program to target a large porphyry system potentially responsible for the known mineralisation.
Superior’s Managing Director, Peter Hwang commented:
“Cockie Creek is turning out to be a very interesting and exciting porphyry system. We didn’t expect to encounter the significant amounts of strong copper mineralisation that has been intersected outside the known mineralisation envelope. The latest holes have also extended the mineralised zone down dip.
“More importantly, the drilling is showing signs for the existence of a strong porphyry system with the amount of potassic alteration and a broadening of the mineralisation towards the west. In addition, interpretation of historical drill holes and aerial magnetic data indicate that a potential main intrusion centre lies further to the west of the historical copper zone. These observations are indicating potential for Cockie Creek being a much larger system than originally thought.
“As a result of our most recent observations, we are extending the planned depths of most holes in the current program as well as adding a series of new holes to test targets to the west of the historical copper zone.
“The very positive results to date at Cockie Creek further validate the Greenvale Lucky Creek Corridor as a preserved island arc system hosting a belt of regularly spaced porphyry copper-gold mineralisation systems.
“We are also pleased to have received assay results from the first batch of core samples in the days prior to the date of this announcement. These assays are currently being compiled and analysed and will be reported to market as soon as possible. We expect assays from subsequent batches of core samples to be returned from the laboratory on a regular basis.”
Read the announcement via this link