Tag: Steam Engine

Superior Resources is adding 5000m to drill efforts at Steam Engine after data highlighting the potential for a large-scale deposit at the North Queensland gold site.

The company has released the first batch of assay results from an 8000m drilling campaign at the Greenvale project about 210km west of Townsville, which includes Steam Engine.

It said the first hole at Steam Engine lode confirmed significant thickening down-dip, with a 10m intersection grading at 2.8 g/t gold from 58m.

Drilling at nearby Dinner Creek also confirmed the presence of a large mineralisation system likely related to theSteam. . .

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Superior Resources has lifted the mineral resource estimate for its Steam Engine deposit, 210km west of Townsville, to 122,000 ounces of gold.

Completion of the resource upgrade programs meant the company could now to finalise its scoping study for the North Queensland project, Superior managing director Peter Hwang said.

“We are pleased that the 2020 Resource upgrade programs have been successful in reinforcing the quality and robustness of the Steam Engine gold deposit," he said.

"The programs have delivered on our primary objective of upgrading the geological confidence of the mineral Resource, resulting in an overall 123 per cent. . .

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Superior Resources plans to launch into its Phase 2 drilling program at Steam Engine next week and deliver an initial scoping study for the gold project later this month.

The latest batch of assays from the North Queensland project had continued to return robust high-grade intersections, Superior managing director Peter Hwang said.

"The Phase 1 drilling has clearly demonstrated the robustness of the deposit and the significant potential for resource expansion along strike as well as down dip," he said.

Recent results included 18m at 2.4 g/t gold from 21m, including 6m at 4.6 g/t. . .

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Six holes drilled to test a potential extension to the Steam Engine gold lode have come up trumps for Superior Resources.

Strong assay results from the latest drilling at northern end of the lode extended gold mineralisation a further 150m along strike, the company said.

“Although the latest batch of assays represent just six holes, these are the most significant results received so far from the recent drilling program as they confirm a northwards extension of the Steam Engine Lode from 400mto 550m in strike length," managing director Peter Hwang said.

"A series of historic drill holes that extend for. . .

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Superior Resources has released the latest assays from drilling at its Steam Engine project near Greenvale, including a one-metre intercept of 47.5 g/t gold at shallow depth.

The company said the results further boosted the consistently strong intersections returned from the first batch of results from the Steam Engine and Eastern Ridge lodes.

"We are pleased but not surprised with the ounce-plus grade result in (drillhole) SRC034," managing director Peter Hwang said.

"Steam Engine is of a similar deposit style to the large Charters Towers goldfield, which produced 6.6 million ounces of gold with an. . .

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Superior Resources has released the first assay results from a scoping study resource drilling program at its Steam Engine gold project near Greenvale in North Queensland.

The first results come from 28 shallow reverse circulation holes, which the company says all returned significant gold mineralisation.

“With this initial batch of assays all returning excellent gold mineralisation from near-surface, the near-term production potential of Steam Engine continues to build," managing director Peter Hwang said.

‘’The assay results further strengthen the current mineral resource and boosts our confidence for a positive scoping study."

Drilling at Steam Engine to date has. . .

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Superior Resources has kicked off a 2500m reverse circulation and diamond core resource drilling program at its Steam Engine project in North Queensland.

Fifty holes are planned to enable completion of a scoping study for the project in a program expected to last at least two months.

"We are very pleased to be kicking off the next stage of Steam Engine just as the gold price begins to test its record highs," managing director Peter Hwang said.

"Earlier this year we started evaluating that deposit on the basis of an Aussie $2000 gold price and fundamentals appeared attractive at the. . .

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Superior Resources plans to kick off a 2500m reverse circulation and diamond core drilling program next month as it advances a scoping study for its Steam Engine project.

And there are plans for an additional three-hole 1250m diamond drilling program at the gold project, near Greenvale in North Queensland.

This would test for a potential high-grade shoot feeder system that the company is particularly excited about, according to managing director Peter Hwang.

Superior launched a $1.18 million capital raising. . .

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