Superior Gold (SGI-V) has received assays of up to 40 grams of gold per tonne over 4.8 metres at its Plutonic mine in Western Australia. The latest assays are from another 58 holes spanning 6,500 metres in its continuing -- never-ending might be a better description -- underground drill program. Those latest holes yielded 83 intersections averaging at least five grams of gold per tonne and 16 of them topped 20 grams per tonne. Mr. Bradbrook, president and CEO, says that he and his crew continue to be very encouraged by the results, which "demonstrate" the strength of the mineralized system and "illustrate" the long-term potential of the mine. (Merely showing strength and potential are no longer enough to attract the market's eye.)
Superior currently has a reserve of 1.44 million tonnes averaging nearly six grams of gold per tonne underground at Plutonic, plus 1.72 million open-pittable tonnes at 1.93 grams per tonne, for a total of 382,000 ounces. The company expects the mine to yield up to 110,000 ounces per year, hence the need for continuous drilling to replace the mined gold. At last report there were an additional 560,000 ounces defined as a resource underground and nearly 200,000 more in an open-pit resource. Mr. Bradbrook expects to update Plutonic's gold inventory later this year.
The Oakville-based Mr. Bradbrook drew a salary of $500,000 last year, the company's first since it went public in early 2017. |
