Superior Resources : Drilling commences at Bottletree Copper Prospect

			ASX	20 June 2022
			Announcement
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	2022 drilling program underway at Bottletree
	Targeting core of large scale interpreted Cu-Au porphyry system
HIGHLIGHTS:
	• Diamond drilling has commenced at Bottletree, targeting the core	of a large scale
		interpreted Cu-Au porphyry system
use	• First hole (BTDD005) collared 300m west of 2021 hole, BTDD004, targeting zones to the west
	and beneath BTDD004. BTDD004 intersected 632m @ 0.21% Cu, 0.03g/t Au, 0.60ppm Ag,
	18.0ppm Mo from 5m below surface, including 224m @ 0.40% Cu, 0.05g/t Au, 0.90ppm Ag,
		3.5ppm Mo and 103m @ 0.53% Cu, 0.05g/t Au, 1.4ppm Ag, 3.3ppm Mo
	• Re-modelling of MIMDAS IP data highlights a 1 km-wide zone of moderate IP chargeability
		at moderate depth immediately west of BTDD004. The large chargeability anomaly is
		interpreted as potential mineralisation associated with the core or cores of one or more
personal		buried porphyry intrusions
• Initial program of 8 holes planned for a minimum total of 3,700m
•	BTDD005 targeting central porphyry core, down-dip extensions to strong mineralisation in
		BTDD004 and 1km-wide IP chargeability anomaly extending 1km westwards from BTDD004,
		at 250m down hole depth
	•	7 other holes targeting interpreted porphyry intrusions and near-surfaceCu-Au
		mineralisation
	Superior's Managing Director, Peter Hwang commented:
	"We have just commenced the Company's most anticipated and exciting drilling program, targeting what
	we interpret to be the core zones of multiple copper-gold-molybdenum porphyry intrusions. We have
	reached this point after only two diamond drilling programs. Notably, last year's program provided
	numerous ground-breaking findings, including drill hole intersections of very extensive porphyry-style
	copper-gold mineralisation.
For	"Our step-by-step approach to this program focuses initially on a compelling and strong central zone of
copper-gold-molybdenum soil anomalism, which is supported by a newly remodelled large chargeability

anomaly, airborne magnetics and satellite imagery-interpreted intrusion centres. All of this sits down-dip and behind the massive 632 metres of copper mineralisation returned from BTDD004.

"However, the chargeability anomaly is large and extends for about 1 kilometre, so apart from having very large size potential, we do have a lot of ground to cover.

"Apart from the drilling, we will also be extending last year's multi-element soil geochemistry program westwards as indications are that porphyry mineralisation extends significantly further than the 1.5 kilometre soil copper zone that originally defined Bottletree. We will also be extending the MIMDAS IP survey to cover the expanded prospect area.

"We have an exciting few months ahead of us and we will be updating the market regularly as we receive significant visual and laboratory results."

Superior Resources Limited (ASX:SPQ) (Superior, the Company) announced today the commencement of the Company's 2022 diamond drilling program at its Bottletree Copper Prospect, located within the Company's 100%-owned Greenvale Project, 210kms west of Townsville, Queensland (Figure 1).

onlyThe program comprises initially, 8 deep diamond holes for a total of 3,700 metres. The drill holes are targeting the core of at least one large interpreted Cu-Au-Mo porphyry system that is coincident with a 1.5km x 1km soil copper anomaly and a 1km-wide induced polarisation (IP) chargeability anomaly.

The first hole, BTDD005, has been collared 300m to the west of BTDD004, which was completed in 2021. BTDD004 was drilled to 658.9m and returned an impressive main copper zone of 224m @ 0.40% Cu, 0.05g/t Au, 0.9ppm Ag, 3.5ppm Mo (molybdenum) within an overall mineralised zone of 632m @ 0.21% Cu, 0.03g/t Au, 0.60ppm Ag, 18.0ppm Mo (Refer ASX announcement, 2 June 2022). Core from BTDD004 is variably mineralised with quartz-chalcopyrite vein sets and disseminated chalcopyrite including the strongly mineralised 224m

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Systematic drilling during 2018 and 2021 targeted the most intense IP chargeability anomaly, which is now considered to represent structurally-controlled mineralisation that is distal to at least one large Cu-Au-Mo mineralised porphyry system. Although considered distal to a core porphyry system, significant amounts of copper mineralisation exists, with hole BTDD001 (collared 500m east of BTDD004) returning an overall intersection of 552.6m @ 0.16% Cu, 0.02g/t Au, 0.7g/t Ag from 132m to the end of hole at 684.6m (Refer ASX announcement, 25 January 2022).

personalStructural information from the extensive mineralisation in BTDD004, together with multi-element soil geochemistry data, detailed surface alteration mapping and remodelled IP data, indicate that the core of a buried porphyry system lies to the west of BTDD004, where better mineralisation is expected (Figures 3 to 9). The current program will test high priority porphyry core targets as well extensive near-surface copper mineralisation that appear to be associated with several interpreted buried porphyry intrusions.

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Figure 1. Map showing the locations of the Greenvale Project tenements and select prospects. The Bottletree Prospect, Gregory Highway, Kidston Clean Energy Hub and associated power corridor infrastructure are also indicated.

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personalFigure 2. Associated Exploration Drillers (AED) UDR1000 drill rig commencing hole BTDD005 at Bottletree Copper Prospect, 16 June 2022.

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Figure 3. Aerial oblique view of Bottletree Copper Prospect viewed towards north-northwest, showing priority porphyry core target and currently planned drill holes, including 2021 drill holes (BTDD001, BTDD003 and BTDD004) and 2018 drill hole (SBTRD006).

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onlyusepersonalFigure 4. Aerial oblique view of Bottletree Copper Prospect viewed towards north-northwest, showing satellite imagery

interpreted 'Intrusion Ring' delineating a general centre of interpreted porphyry intrusion. The Intrusion Ring is also defined by a 'breakaway' within which, increased erosion has created a topographic depression.

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Figure 5. Aerial oblique view of Bottletree Copper Prospect viewed towards north-northeast, showing Intrusion Ring, priority porphyry core and extensive distinct grey coloured ground surface caused by herbaceous plant Polycarpaea Sp., which is tolerant of high copper content in the soil profile and is a geobotanical copper indicator. The geobotanical indications very closely reflect copper anomalism identified within geochemical soil data (refer Figure 6).

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personalFigure 6. Thematic soil Cu image showing interpreted porphyry core Zones A, B and E, key Cu mineralisation Zones C, D and F and mapped phyllic alteration zones.

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Figure 7. Geological plan showing mapped surface lithology and alteration zones. Key drill holes, interpreted porphyry intrusion system and priority geochemical targets "A" to "F" are also shown.

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