Superior Gold Inc. (TSXV: SGI) today released drill results from their current underground diamond drill program at the company’s flagship Plutonic Gold mine in Western Australia. Superior has provided results for 18 underground infill drill holes for an aggregate 2,143 metres of drilling, with 78% of the holes drilled showing significant intercepts.
The results highlight the following:
- Hole UDD24336 intersected 17.5 g/t gold over 1.00 meter downhole
- Hole UDD24340 intersected 23.0 g/t gold over 1.80 meters downhole
- Hole UDD24342 intersected 14.8 g/t gold over 13.4 meters downhole
- Hole UDD24351 intersected 60.0 g/t gold over 1.00 meter downhole
Today’s drill results extend the current mineral resource by approximately 350 metres x 200 metres outside of the current mineral resource estimate. Superior stated that this new Baltic Gap mining front is adjacent to established underground infrastructure, and that minimal capital is required to develop the area.
Plutonic has produced approximately six million ounces of gold to date, with measured and indicated mineral resources of 1.89 million ounces and an inferred mineral resource of 3.07 million ounces.
Superior Gold Inc. last traded on the TSX Venture at $0.70.
Information for this analysis was found via Sedar and Superior Gold Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
The Greats: Canada’s Notable Mining Financiers
Mining exploration, besides being a high-risk, high-reward endeavour, is a very capital intensive business. It...