Molybdenum adds might to Bottletree standing

Superior Resources has announced a 'significant breakthrough' at its Bottletree project in North Queensland, with a high-grade molybdenum discovery and confirmation of a large porphyry-style alteration. Superior Resources managing director Peter Hwang said the company was pleased to see several significant outcomes being delivered at a very early stage of exploration drilling at the site. Mr Hwang said an independent assessment of Bottletree as a copper-gold-molybdenum porphyry system by internationally recognised porphyry-epithermal expert Dr Greg Corbett provided a solid foundation for the project. "The several deep holes that were drilled in the last program have demonstrated the extensive effects of a porphyry alteration system with associated copper mineralisation that has been traced for at least one kilometre, both in horizontal and down-hole extent," he said. “Of particular interest is the newly discovered late-stage molybdenum mineralisation system that has so far demonstrated ability to carry spectacular molybdenum grades of up to 5.2 per cent Mo. "With molybdenum spot prices currently above $US60,000 per tonne, Bottletree’s molybdenum potential could be transformational in terms of its overall economic potential." He said the recently completed drill program had provided almost 5000m of valuable information and enabled significant breakthroughs that had implications for the greater Greenvale copper project. "Importantly, the information validates Greenvale as a newly recognised porphyry province containing several porphyry systems with Tier-1 deposit potential. "This province extends for at least 65km, includes at least five known or suspected additional porphyry prospects and is 100 per cent owned by the company." Mr Hwang said Superior was now even more confident that the province represented the northern remnants of the New South Wales Ordovician-age Macquarie Arc, which hosts the world-class Cadia and Ridgeway porphyry deposits. "The discovery of a copper-molybdenum porphyry system in this part of Queensland is remarkably significant, as metallogenically-fertile Ordovician-age porphyries similar to those in NSW were not previously known to exist in Queensland," he said. Related: Transition declares significant copper discovery Recent results have elevated the significance of the Bottletree project for Superior, with only eight porphyry-targeted holes drilled so far. “As our confidence and excitement at Bottletree grows amidst an inevitable increasing global demand for copper, it is strategically prime and necessary to double our exploration efforts by enlivening our most advanced porphyry prospect, Cockie Creek," Mr Hwang said. "We are investing to strengthen our teams and resources to drive an even stronger value presence in the future metals sector.”

Molybdenum adds might to Bottletree standing

Industry Queensland

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