Market Herald logo


Be the first with the news that moves the market
  • Zinc producers Superior Lake has found new targets at its project in Canada
  • This marks the third prospective discovery during the exploration of two holes
  • The company says its approach to uncovering zinc deposits is proving successful as it continues exploring the multi-million tonne projects
  • Superior Lake’s share price is remaining flat today, currently sitting at 1.6 cents per share

Zinc producers Superior Lake has found a new prospective target at its Winston Lake project in Canada.

Through a down-hole transient electromagnetic survey, the company identified the new conductive body which is 200 metres from the Winston deposit.

This marks the third large conductive body found within the first two holes of exploration.

Company Director Peter Williams said: “This is yet another highly positive outcome as we have now identified three major conductive bodies in the first two holes of this program.”

The new target has been dubbed the Winston South, and displays similarities in its strike, dip and plunge to the Winston deposit. Historically, the Winston deposit produced 3.1 million tonnes at 16 per cent zinc.

Pyrrhotite has been clearly identified at the Winston project and the company’s Pick Lake project. Pick Lake has a resource estimate of 2.35 million tonnes at 17.7 per cent zinc.

“Superior Lake’s multidisciplinary exploration approach that integrates geophysical, geochemical and geological information to test the Pick North and Winston South targets has been successful,” Peter said.

“The Winston South and Pick North targets were predicted within the 3D geometry of the system to within 10 per cent of the confirmed targets, an excellent result,” he added.

Superior Lake’s share price is remaining flat today after climbing back from a six per cent drop before 2:00 pm AEDT. Shares in the company are currently trading for 1.6 cents apiece.

SUP by the numbers
More From The Market Herald
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) achieves record net income in June quarter

Champion Iron (ASX:CIA) has achieved a record net income of C$75.6 million (roughly A$78.9 million) during…
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) to return to full production at Bloom Lake

As of April 15, mining services have been deemed a "priority service", so Champion can ramp…
Champion Iron (ASX:CIA) - CEO, David Cataford

" Champion Iron (ASX:CIA) winds down mining at Bloom Lake

Mining company Champion Iron (CIA) will decrease operations at its Bloom Lake mine in Canada, per a government directive.

" A recommissioned mine pushes Champion Iron over a significant milestone

Canadian based mining explorer Champion Iron reached its ten-millionth shipped tonne of iron ore today, thanks…