Promising historical results at Superior Lake Resources’ zinc-copper project

By Megan Graham. Published at May 1, 2018, in Juniors

Superior Lake Resources Limited (ASX:SUP) is steadily working towards the implementation of its redevelopment strategy for the Superior Lake Zinc Project, with historical data compilation and verification ongoing as part of the project timeline.

The initial focus of this program of work is the compilation of historical Pick Lake drill-hole data which is currently being undertaken by SUP. These results will form part of an initial Resource Estimate pegged for Q2 2018.

The strategy should also lead to a 3D geological model by the end of Q2 2018, with a full validation process inclusive of drill hole collar pick-ups, re-sampling and assaying of core also planned for Q2 2018.

So far, outstanding historical drill results within the un-mined area of Pick Lake Mine have shown significant intercepts (excluding gold and silver credits) including:

  • UP-58: 2.6m @ 28.35% Zn 1.91% Cu
  • UP-172: 3.5m @ 18.34% Zn 0.48% Cu
  • UP-174: 5.5m @ 24.32% Zn 0.94% Cu
  • UP-147: 33.2m @ 18.77% Zn 2.26% Cu
  • UP-109: 2.5m @ 27% Zn 1.86% Cu
  • UP-173: 9.0m @ 29.48% Zn 1% Cu
  • UP-149: 10.5m @ 24.8% Zn 1.33% Cu
  • UP-148: 15.8m @ 30.05% Zn 1.91% Cu

A 3D geological model defining a Resource Estimate as well as brownfields exploration targets are scheduled to be completed during Q2 2018.

CEO, Mr David Woodall commented on today’s announcement. “In less than three months since consolidating the Superior Lake Zinc Project, the historical results provide us confidence that this project will again become the highest-grade zinc producer in Canada,” he said.

It should be noted that SUP is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.

Once SUP’s redevelopment strategy and subsequent 3D geological model of existing Resources has been completed, the company will commence a drilling program targeting a JORC 2012 Resource to support the commencement of production.

Pick lake drill intercepts

Long-section view of Pick Lake and Winston Lake underground workings with drill-hole intercepts at Pick Lake. Mine development & stopes (grey), 1998 foreign non- JORC (2012) estimate extents (red dashed line).

Once SUP has created a 3D geological model for the Super Lake Zinc Project this will allow for the planning and implementation of a brownfields exploration program to commence in Q3 2018.

This program will look to confirm historical drill information and target a JORC 2012 Mineral Resource Estimate to support the redevelopment of the project.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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