SPQ 0.00% 0.8¢ superior resources limited

Steam Engine, page-53

  1. 634 Posts.
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    I agree!
    From SPQ Website: https://www.superiorresources.com.au/projects/greenvale/steam-engine/

    During 2020, the Steam Engine Gold Deposit’s Mineral Resource Estimate was upgraded by 11% prior to the commencement of 2020 drilling programs. The revision of the Mineral Resource resulted in a JORC (2012) Indicated and Inferred Mineral Resource of 1.27 million tonnes at 2.3 g/t gold (0.5 g/t cut-off).

    In March 2021, Superior announced a revised Mineral Resource estimate incorporating results from the 2020 drilling programs, which were completed by December 2020.

    The revised JORC 2012 Mineral Resource estimate comprises the following:

    1.73 million tonnes @ 2.2 g/t Au (122,000 ounces):

    • Measured Resources: 240,000 tonnes @ 2.6 g/t Au (20,000 ounces)
    • Indicated Resources: 610,000 tonnes @ 2.4 g/t Au (47,000 ounces)
    • Inferred Resources: 880,000 tonnes @ 1.9 g/t Au (55,000 ounces)

    Average Gold price in 2020 was Aud $2250
    Today it is Aud $3679
    So a rough calculation of resource is nudging Aud $450m
 
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