- 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.