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clock Created with Sketch. 01/02/23
11:24
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Originally posted by Shady Merv:
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HH2, you like the nickel areas, eh?MAGMATIC Ni-Cu-PGE SULPHIDE PROJECT Superior’s Magmatic Ni-Cu-PGE Project represents a newly recognised magmatic nickel sulphide province. The province has been proven by Anglo American (2007 – 2012) to host Ni-Cu-PGE sulphide mineralisation within intrusions that are similar to the large-scale magmatic Ni-Cu-PGE sulphide ore bodies of the Norilsk and Voisey’s Bay deposits. More than 40 fertile troctolite intrusions have been identified (Figure 6). Only one intrusion has been subjected to initial drilling. Limited historic drilling by Anglo American confirmed the presence of fertile host rocks carrying magmatic sulphide mineralisation with up to 133m @ 0.12% Ni and 105m @ 0.14% Ni (up to 0.58% Ni, 0.28% Cu, 290ppb Pd, 220ppm Pt) Anglo American concluded “mafic and ultramafic intrusive complexes that were previously unknown in the area do in fact exist and have the potential to host Ni-Cu-PGE sulphide deposits similar to that at Voisey’s Bay” and their drill results “are considered to be very significant” and show that “(i) the right rocks are present, (ii) there are multiple untested intrusions and (iii) the magmas are fertile – all of which are very encouraging for further Ni [sulphide] exploration”. Superior is in a sector-leading Ni-Cu-PGE position, aided by the advantage of having enormous amounts of modern exploration data generated by Anglo American on a proven magmatic Ni-Cu-PGE sulphide province, including large, high resolution airborne geophysical surveys totalling more than 5,070 line-kilometres and information from petrographic and academic studies on key rock types. ACTIVITIES DURING QUARTER The objectives of the field visits were to conduct rock chip sampling of key intrusions that crop out at surface (Figures 7 to 9), establish practical access arrangements with the landholder and identify logistical factors relevant to field exploration work. The field visits also enabled two well-funded parties to conduct field due diligence on the project as part of a commercial discussions relating to potential farm-in and joint venture transactions. Discussions with the parties are continuing. The parties’ interests in Superior’s nickel assets do not conflict with each other as their objectives target different styles of nickel mineralisation (i.e. Magmatic Ni-Cu-PGE sulphide and Laterite Ni). NEW TENEMENT APPLICATIONS Applications for three new exploration permits for minerals (EPM) were made during the September Quarter. Each of the applications comprise 100 sub-blocks, covering a total of 900km2 , being the maximum size permitted for an EPM (Figure 10). The applications were made for the purpose of covering additional terrain considered prospective for Voisey’s Bay style magmatic Ni-Cu-PGE sulphides. The EPM areas include several high priority magnetic features that were considered by Anglo American to be priority intrusion-related magmatic sulphide target. two well-funded parties ....commercial discussions ..'
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Shady Correct. Can avoid CR in the short term albeit later on if needed we can raise at a considerably higher price as I'm sure JV will raise the SP. JV also can fund more drill rigs and we can really start to penetrate our deposits at a much quicker pace. Mode in my opinion the JV's could be international companies and both want a different type of the nickel then the other. A JV in any case will make SPQ stand out as majors will start to view them as a company who are progressing with serious intentions and not just another lifestyle explo. IMO.
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