SUPERIOR RESOURCES LIMITED

ASX Release 2 August 2018

ACN 112 844 407

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DIAMOND DRILL RIG MOBILISING

TO TEST POTENTIAL LARGE PORPHYRY COPPER-GOLD SYSTEM AT BOTTLETREE PROSPECT

Diamond drill rig contracted and mobilisation to Bottletree Prospect, Greenvale Project expected over the coming weekend, Saturday, 4 August 2018.
Double shift (24hrs/day) deep diamond drilling program to target large highorder IP chargeability and resistivity anomaly located beneath extensive near-surface copper mineralisation.
IP chargeability anomaly thought potentially to be the core of a large mineralised intrusive-related system and the source of near-surface copper.
Program will comprise two diamond drill holes (with RC pre-collars) for 1,100m.
Superior’s 2017 Phase 1 RC drilling confirmed:
large volume of shallow mineralisation (154m @ 0.25% copper (open at depth); 26m @ 0.46% copper including 5m @ 1.05% copper) directly beneath extensive soil copper anomalism;
alteration associated with the mineralisation potentially represents peripheral envelope alteration surrounding a porphyry-style core; and
evidence of sulphidic intrusive rock units proximal to copper mineralisation.
Limited historical work: surface soil geochemical survey and limited shallow drilling delineated a large 1.5km x 1km soil copper geochemical anomaly.

Superior Resources Limited (ASX Code: SPQ ) ( Superior or Company ) is pleased to announce the scheduled mobilisation on Saturday, 4 August 2018 of a dual-purpose reverse-circulation ( RC )/diamond drill rig to the Bottletree Copper Prospect near Greenvale, Queensland. Drilling is expected to commence on Sunday, 5 August 2018.

The mobilisation will mark the commencement of Phase 2 drilling on the prospect, comprising a deep diamond drilling program of two holes for a total of 1,100 metres. Each hole will be pre-collared with 200 metres of RC drilling. Diamond coring will be conducted on a double shift, 24 hours per day roster, with the program expected to take up to three weeks to complete. Visual indications of any mineralisation will be obtained during the course of the drilling and updated information will be provided to the market as soon as practicable.

The objective of the deep drilling program is to determine whether the large and high order induced polarisation ( IP ) chargeability anomaly identified from a MIMDAS IP geophysical survey completed in May

Unit 8, 61 Holdsworth Street, Coorparoo Queensland 4151 │ PO Box 189, Coorparoo, Queensland, 4151 T 07 3847 2887 │ E [email protected] │ www.superiorresources.com.au │ ABN 72 112 844 407

Superior Resources Limited

this year is caused by a mineralised copper and gold porphyry system (Figure 1). The chargeability anomaly is extensive in size with the geophysical data indicating at least a 1.4 km strike length which is open to the north and south.

Shallower Phase 1 RC drilling conducted during 2017 confirmed that large volumes of shallow low-grade mineralisation (154m @ 0.25% copper (open at depth); 26m @ 0.46% copper, including 5m @ 1.05% copper) are developed directly beneath a laterally extensive copper-in-soil geochemical anomaly (Figures 2 and 3) (Refer SPQ:ASX announcement 31 August 2017).

The large chargeability anomaly lies directly beneath the extensive near-surface copper mineralisation.

Managing Director, Peter Hwang, commented:

“ With the combined geochemical, geophysical and RC drilling data consistently supporting the potential presence of a very large mineralised system, we are very excited about the commencement of this deep drilling program and the potential that Bottletree presents for the discovery of a Tier 1 copper-gold porphyry system.

The striking feature that was revealed by this year’s MIMDAS IP survey is the very substantial size and intensity of the chargeability anomaly and its close relationship to the extensive near-surface copper mineralisation. There is a significant amount of copper mineralisation at Bottletree, which elevates the potential of the chargeability anomaly even further.

2018 has turned out to be a very exciting year operationally with the developments at Bottletree and our new nickel-cobalt projects and we expect the sustained progress to continue through 2019.

We are hopeful that the Bottletree drilling program will provide a steady stream of positive early visual indications as the diamond core is produced over coming weeks.”

Further information about the Bottletree Prospect and the drilling will be provided to the market over the course of next week. Refer to SPQ:ASX announcement, dated 16 May 2018 in the meantime.

For more information:

Peter Hwang Managing Director Tel: +61 7 3847 2887 www.superiorresources.com.au [email protected]

Carlos Fernicola Chairman +61 7 3229 1799

Figure 2. Airborne magnetics (RTP) processed image over the Greenvale Project area and surrounds. The Lucky Creek Certain statements made in this report may contain or comprise certain forward-looking statements. Although Superior Prospect location is shown together with other Greenvale Project prospects. Resources Limited believes that any estimates and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results and estimations could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in the economic and market conditions, success of business and operating initiatives and changes in the regulatory environment. Superior undertakes no obligation to update publicly or release any revisions of any forwardlooking statements to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events.

T 07 3847 2887 │ E [email protected] │ www.superiorresources.com.au

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Superior Resources Limited

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Figure 1. Modelled chargeability images showing the large and intense IP chargeability anomalies on lines 2800N and 2400N of MIMDAS IP survey. Diamond drill holes are indicated.

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Superior Resources Limited

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----- Start of picture text -----

Lucky
Downs
7891000 mN 7891000 mN
SPQ
IP
Survey
Lines
Welcome
Downs
7890500 mN 7890500 mN
7890000 mN 7890000 mN
7889500 mN 7889500 mN
Soil Copper Contours
200ppm Cu - Black
500ppm Cu - Blue
1000ppm Cu - Green
7889000 mN 7889000 mN
Superior Resources Limited
Bottletree Prospect
Date:9/5/2018Author: Office: Brisbane Soil Copper Contours2018 IP SurveyLine LocationsDrill Holes
Drawing:
Scale: 1:10000 Projection: MGA Zone 55 (GDA 94)
0 100 200 400
7888500 mN metres 7888500 mN
2800N
2600N
2400N
2200N
1800N
1400N
Tonalite Boundary
261500 mE 262000 mE 262500 mE 263000 mE 263500 mE 264000 mE 264500 mE 265000 mE
261500 mE 262000 mE 262500 mE 263000 mE 263500 mE 264000 mE 264500 mE 265000 mE
----- End of picture text -----

Figure 2. IP survey line locations with respect to soil copper geochemistry and drill holes at the Bottletree Prospect. The area of the IP survey is 2.5kms x 1.4kms. Diamond drill holes referred to in this announcement are located on lines 2400N and 2800N.

T 07 3847 2887 │ E [email protected] │ www.superiorresources.com.au

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Superior Resources Limited

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Figure 3. Copper-in-soil processed image showing the large-scale regional Bottletree anomaly. A MIMDAS geophysical IP survey was carried out over the geochemical anomaly during May 2018.

T 07 3847 2887 │ E [email protected] │ www.superiorresources.com.au

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Superior Resources Limited

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Figure 4. Airborne magnetics (RTP) processed image over the Greenvale Project area and surrounds. The Bottletree Prospect location is shown relative to other Greenvale Project prospects.

T 07 3847 2887 │ E [email protected] │ www.superiorresources.com.au

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AI assistant

SUPERIOR RESOURCES LIMITED Capital/Financing Update 2018

65848_rns_2018-08-01_771c67f1-2332-4ea0-89dd-8b157062e264.pdf