Superior Lake Resources Limited (“Superior Lake”) is pleased to announce that following the completion of its maiden JORC resource (2.15mt at 17.7% Zn 0.8% Cu 0.4gpt Au and 33.5gpt Ag) it has completed an extensive review of historical information on the Project. This review has given the Company the confidence to fast track the restart of the Superior Lake Project (Project).
Initial results will be outlined in preliminary study estimates expected to be completed during Q3 2018.
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Superior Lake Resources CEO David Woodall states:
After an extensive review of the historical information from the operation, we believe we have a significant advantage in comparison to other development assets, on a number of levels.
Firstly, significant infrastructure remains in excellent condition surrounding the project whilst extensive mine development has been established. Both of these elements significantly reduce the initial capital cost, as well as the time before first production.
Secondly, the historic mining operation successfully trialled long hole open stoping at the Pick Lake deposit, prior to the operation closing due to low metal prices. Using this method with cemented paste fill, a technique not previously available, we have identified the most likely mining technique to be used.
Finally, for more than a decade the operation demonstrated excellent metallurgical recoveries. With advancements in metallurgical technologies over the past 20 years, we believe this could potentially be further improved.
We look forward to releasing the preliminary study work later this quarter.