Ann: Phase 2 Drilling Program commences at Bottletree, page-76

Thanks MF. I try to remain detached from the share price movements. That said though, I would feel a lot better if there was more buying interest.

The fundamental thing for me is the inherent value of the mineralisation, especially at Bottletree, Cockie Creek, Wyandotte, Steam Engine and Dido/Big Mag.

It is probably the case that the first 3 are related geologically, being porphyry, thereby meaning the potential for the existence of a mineralised province.

The gold at Steam Engine appears to me to be unrelated to the porphyry creation. It is lode gold. I am not too excited by this deposit though, but it is very beneficial in its possible funding (part or full) of the exploration in the other 4 places that I mentioned.

Dido/Big Mag is different again. It has no geological connection to the others.

From the Market Herald:

“The potential of the Dido/Big Mag project is sector-leading and the information that we have before us is incredibly enticing,” SPQ Managing Director Peter Hwang said.

“Not only is the project area considered prospective for world-class nickel-copper-PGE magmatic sulphide deposits, but the considerable work conducted by Anglo American has also proven the existence of mineralised Voisey’s Bay-style systems hosted within the Dido Batholith complex,” he said.

Same source:

Previous exploration work conducted by Anglo American at the Dido/Big Mag project generated roughly 100 magnetic, airborne electromagnetic (EM) and soil geochemistry targets considered to be prospective for nickel-copper-PGE ore deposit systems.

Anglo American also identified numerous anomalies representing mafic and ultramafic intrusions however only two anomalies were followed up with sampling and mapping
techniques as well as ground geophysical surveys over three years.

Despite drilling returning positive results and confirming the presence of nickel-copper-PGE mineralisation, failed negotiations with landowners partially led to Anglo American not conducting further activities at the site.

Positively for Superior, it successfully managed to negotiate land access agreements with the same landowner.

I am very keen to learn what the exploration plans are for the nickel, as foreshadowed in the Sep QAR. Alone, this system could be a company maker.

All 5 are 100% owned by SPQ.