Media Release, page-2

APRIL 2024 And here we are nearly a year later - Bloody Hell

Here are some of the biggest resources winners in early trade, Monday April 8.

Superior Resources (ASX:SPQ)

Critical minerals hunter Superior, which focuses on copper, gold, nickel and tin, among other things, is offering superior gains this morning, with a +30% burst up the bourse at the time of writing. (Update: since cooled, still up about 15%.)

Reason? The Queensland government has done it a solid by materially backing the promising Bottletree Cu-Au-Mo prospect’s drilling with a Critical Minerals Funding Grant to the tune of $300,000.

Specifically, it’s called a Collaborative Exploration Initiative (CEI) grant and is approved by the Qld gov’s Department of Resources.

The funding further validates and affirms the company’s belief it’s onto something significant in the Greenvale Terrane of northern Queensland – now considered a highly prospective, and notably previously unrecognised, hunting ground for copper-gold mineralisation. Molybdenum, too.

What happens next? As soon as the volatile North Queensland weather settles down, the company will focus that fresh capital boon on the diamond drilling of two top targeted holes totalling a whopping 1,700m of drilling action.

The company notes the target is “supported by several coincident circular anomalies, including a broad magnetic low anomaly, extensive 2.0km x 2.5km Cu soil anomaly and a gravity high anomaly”.

Among other things, Superior’s MD Peter Hwang had this to say:

“The CEI program is a direct result of the Queensland Government’s commitment to building the foundation for a globally-leading critical minerals jurisdiction.

“The porphyry copper-gold discovery at Bottletree and our exploration work over the greater Greenvale Project are progressively unlocking the multi-porphyry potential of the newly recognised Greenvale porphyry belt.”