- Superior Resources (SPQ) has obtained the last ongoing exploration permit on the Dido/Big Mag project in Queensland
- The project now covers an area of 1,158 square kilometers considered highly prospective for magmatic nickel-copper-platinum group element (PGE) sulfide ore deposits.
- Previous exploration has generated a large number of targets with little follow-up, which Superior believes positions them well to unlock a world-class nickel-copper-PGE deposit.
- The company is currently interpreting geophysical data, modeling anomalies to help plan future drilling programs, and performing site inspections.
- SPQ shares are trading up 8.89% at 4.9 cents
Superior Resources (SPQ) has obtained a new exploration permit on the Dido/Big Mag project in Queensland.
EPM27932 marks the latest outstanding permit to be received for the project which covers the vast Dido Batholith and Big Mag igneous complex.
The project now includes four granted exploration permits, covering 1,158 square kilometers of geology considered highly prospective for world-class magmatic nickel-copper-platinum group element (PGE) sulphide ore deposits.
The properties also adjoin the original Greenvale Project exploration permits and extend the entire project approximately 40 kilometers to the southwest and 20 kilometers to the north.
Previous exploration work by Anglo American in The Dido/Big Mag project generated approximately 100 magnetic, airborne electromagnetic (EM), and ground geochemical targets considered prospective for nickel-copper-PGE deposit systems.
Anglo American has also identified numerous anomalies representing mafic and ultramafic intrusions, but only two anomalies have been followed by sampling and mapping.
techniques as well as ground geophysical surveys over three years.
Although the drilling returned positive results and confirmed the presence of nickel-copper-PGE mineralization, the failure of negotiations with the landowners partly led Anglo American to no longer carry out activities on the site.
Fortunately for Superior, they were able to negotiate land access agreements with the same landowner.
“The potential of the Dido/Big Mag project is industry-leading and the information we have is incredibly enticing,” said SPQ Managing Director Peter Hwang.
“Not only is the project area considered promising for world-class magmatic nickel-copper-PGE sulphide deposits, but the extensive work carried out by Anglo American has also proven the existence of Voisey’s Bay-type mineralized systems hosted in the Dido Batholith complex”. he said.
Superior Resources is currently undertaking preliminary activities such as modeling and interpretation of EM geophysical data, modeling of magnetic anomalies to assist in the planning of a drilling program, planning of a soil and geophysical survey and the site of drilling contractors.
The company’s shares rose 8.99% to trade at 4.9 cents at 1:25 p.m. AEDT.