Superior Resources (ASX:SPQ) confirmed high-grade gold mineralization following maiden drilling at the Windmill East prospect within the Steam Engine project in Queensland, according to an April 10 filing with the Australian bourse.
Additionally, assays confirmed a strong strike extension of multiple gold lodes at the northern end of the Steam Engine lode and a strong mineralization extension by 100 meters to the south at the Eastern Ridge lode, the filing said.
Assays from the 2024 program are anticipated to lead to an upgrade of mineral resources, according to the filing.
Shares rose 25% in afternoon trade Monday, earlier hitting a 52-week low.
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