Superior Resources (ASX: $SPQ) Quarterly Activities Report highlights progress in drilling programs

Superior Resources Limited (ASX: $SPQ) has released its Quarterly Activities Report for the period ending 31 March 2024. The report outlines the company's advancements in its drilling programs at the Bottletree Copper Prospect and Cockie Creek Porphyry Copper Prospect. Superior Resources is a Brisbane-based ASX-listed mineral explorer with a portfolio of large copper exploration projects, including a developing portfolio of nickel-cobalt projects in northern Queensland. The company also has large targets for Mount Isa style copper and lead-zinc-silver deposits and uranium deposits in northwestern Queensland, along with exploration projects in northeast Queensland for VMS and porphyry style copper-gold-silver-molybdenum deposits.

Executive Commentary on Bottletree and Cockie Creek Prospects

The results from the 2023 drilling program at the Bottletree Copper Prospect and the Cockie Creek Porphyry Copper Prospect have been highly positive. The drilling program at Bottletree aimed to investigate the extent of wall rock porphyry mineralisation associated with the Discovery Outcrop and target a high priority interpreted porphyry core intrusion. The results enabled the development of a new 3D geological and mineralisation model, confirming the continuity of mineralisation within a broad zone associated with the Discovery Outcrop gossan. Meanwhile, the drilling program at Cockie Creek revealed a continuous zone of copper and gold mineralisation extending from surface to a vertical depth of at least 450m in the western zone, with the potential for the discovery of a large porphyry Cu-Au-Mo mineralisation system.

Outlook and Corporate Strategy

Superior Resources' outlook appears promising as it progresses with its drilling programs at the Bottletree and Cockie Creek prospects. The company was awarded a $300,000 Collaborative Exploration Initiative (CEI) critical minerals grant for the drilling of two deep holes targeting a modelled porphyry core during the 2024 field season. The new 3D modelling and positive drilling results provide a strong foundation for the company's future exploration and resource expansion efforts. Additionally, the ongoing evaluation of revenue generation potential at the Steam Engine Gold Project demonstrates the company's commitment to maximizing the value of its mineral assets. With considerable potential to increase the total gold Resource inventory and a strategic review of the Process Options Study, Superior Resources is well-positioned to capitalize on the opportunities presented by its diverse portfolio of exploration projects.