Superior expands Dido/Big Mag Project to 1,158 km2 to becomea sector-leading Ni-Cu-PGE magmatic sulphide opportunity
KEY POINTS:
Superior receives grant of third exploration permit (EPM27932) to secure the Dido IntrusiveComplex, with confirmed potential to host Voisey’s Bay / ”Julimar-Gonneville” styleNickel-Copper-PGE magmatic sulphide systems
Resulting from an Australia-wide Ni-Cu-PGE “Voisey’s Bay-style” targeting program during2004, Anglo American Exploration (Australia) Pty Ltd ranked the Dido Batholith in the top 10of 100 priority target areas identified across Australia
Limited drilling by Anglo American confirmed the presence of fertile host rocks carryingmagmatic sulphide mineralisation with up to 133m @ 0.12% Ni and 105m @ 0.14% Ni (upto 0.58% Ni, 0.28% Cu, 290ppb Pd, 220ppm Pt)1
Academic consultants considered these intrusions to show “striking similarities [to] thosethat host the [world-class] Lac des IIes Pd-Pt deposit”
Anglo American concluded “mafic and ultramafic intrusive complexes that were previouslyunknown in the area do in fact exist and have the potential to host Ni-Cu-PGE sulphidedeposits similar to that at Voisey’s Bay” and their drill results “are considered to be verysignificant” and show that “(i) the rights rocks are present, (ii) there are multiple untestedintrusions and (iii) the magmas are fertile – all of which are very encouraging for furtherNi [sulphide] exploration”2
Numerous (>40) magnetic and EM conductor targets identified by Anglo American; only twotargets drilled; positive drill holes received no further follow-up; numerous high-qualitytargets not followed up
Superior is in a sector-leading Ni-Cu-PGE position, aided by the advantage of havingenormous amounts of modern exploration data generated by Anglo American on proven Ni-Cu-PGE magmatic sulphide terrain, including large, high resolution airborne geophysicalsurveys totalling more than 5,070 line-kilometres and information from petrographic andacademic studies on key rock types
Forward plans include continuing geophysical interpretation of airborne electromagnetic(EM) and induced polarisation (IP) survey data to identify EM conductor and IP chargeabilitytargets, field inspections of priority targets and preparation of drill programs
