Presentation April 2009

Transcription

1 Nicholson River Presentation April 2009 Ken Harvey Managing Director

2 Limitations This presentation has been prepared by the management of Superior Resources Limited (the Company) for the benefit of brokers, analysts and investors and not as specific advice to any particular party or persons. The information is based on publicly available information, internally developed data and other sources. Where an opinion is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion only. No warranties or representations can be made as to origin, validity, accuracy, completeness, currency or reliability of the information. The Company disclaims and excludes all liability (to the extent permitted by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. Where the Company expresses or implies an expectation or belief as to the success of future exploration and the economic viability of future project evaluations, such expectation or belief is expressed in good faith and is believed to have a reasonable basis. However, such expected outcomes are subject to risks, uncertainties and other factors which could cause actual results to differ materially from expected future results. Such risks include, but are not limited to, exploration success, metal price volatility, changes to current mineral resource estimates or targets, changes to assumptions for capital and operating costs as well as political and operational risks and governmental regulation outcomes. The Company does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forecast or to update such forecast.

3 Company Chairman Managing Director NonExecutive Director Lawrie Litzow Ken Harvey David Horton Incorporated February 2005 Floated on ASX November 2007 Copper, LeadZincSilver, Diamonds (Uranium, Phosphate) 77 Million Shares (9.5M Escrowed) 9.6 Million Options (9.0M Escrowed) 15 Exploration Permits (13 Granted) ~$5.7M Cash & Liquid Assets (7.4c per share) Last Trade 7.0c per share (~$5.4M Market Cap)

4 Targets & Best Projects Search for Large Deposits in Northwest Queensland (Mount Isa Style Copper & LeadZincSilver and Diamonds Conceptual Approach using Modern Technology (Geophysics & Computer Modelling followed by Drilling) The Best Two Prospects Walford South Prospect 350km northnorthwest of Mount Isa Elizabeth Diamond Prospect 150km south of Mount Isa

5 Walford South Prospect Walford South Prospect 350km northnorthwest of Mount Isa 4km south of the Mount Isa type Walford Creek Prospect (Copper Strike) Walford Creek Prospect Inferred Resources % Cu, 1.6% Pb, 2.1% Zn, 25g/t Ag, 0.07% Co (Copper Strike Quarterly Report March 2006) Mount Isa

6 Airborne Electromagnetics Walford South Prospect Tempest EM System Walford Creek Prospect 3D View Interpreted Conductivities Lane et. al., 2000, An example of 3D conductivity mapping using the Tempest airborne electromagnetic system

7 Walford South Prospect Interpreted Conductivity 100m Depth Tempest AEM (Fugro) Not held by SPQ Plan View

8 Walford South Prospect Interpreted Conductivity 200m Depth Tempest AEM (Fugro) Not held by SPQ Plan View

9 Walford South Prospect Interpreted Conductivity 300m Depth Tempest AEM (Fugro) Not held by SPQ Plan View

10 Walford South Prospect Interpreted Conductivity 400m Depth Tempest AEM (Fugro) Not held by SPQ Plan View

11 Walford South Prospect Interpreted Conductivity 500m Depth Tempest AEM (Fugro) Not held by SPQ Plan View

12 Walford South Prospect Not held by SPQ Compiled Bouguer Gravity ESSO WMC Comalco GA Proposed Drill Hole 600m Plan View

13 Walford South Prospect Not held by SPQ Geology Section Line Proposed Drill Hole 600m Plan View

14 Walford South Prospect

15 Walford South Summary The Walford South Prospect contains a large modelled conductivity anomaly and a large coincident gravity anomaly in an area where Mount Isa type mineralisation exists. It is a highpriority target which will be drilled once access is possible after the wet season.

16 Elizabeth Diamond Prospect 150km south of Mount Isa A prominent circular feature with a coincident carrot shaped modelled density anomaly Northwest Queensland and the Northern Territory are prospective for diamonds Mount Isa Elizabeth Prospect

17 NT & QLD Diamonds Source: NT and QLD Government diamond databases Diamond distribution in NT and QLD

18 Merlin Diamond Australia s Biggest Diamond carats Merlin, NT This diamond is not the property of Superior Resources Limited

19 Diamonds MANTLE CRUST Moho GRAPHITE STABLE DIAMOND STABLE ~40 km KIMBERLITE PIPE 150 km LITHOSPHERE ASTHENOSPHERE Diamonds are the stable form of carbon under the very high pressures that exist below about 150km depth within the earth. Diamonds are transported to the earth s surface by deep seated volcanic activity originating below the level where the diamonds are stable. The diamonds must be brought rapidly to the surface so that they don t revert to graphite. Only two types of volcanics are known to bring diamonds to the surface in economic quantities kimberlite and lamproite. These are unusual rocks which contain indicator minerals some of which become distributed in stream gravels. A search for diamonds usually involves a search for kimberlite or lamproite using the indicator minerals and/or geophysics to locate the volcanic pipes or dykes. These pipes or dykes are then drilled to establish their diamond content. Only a small fraction of kimberlite and lamproite bodies contain economic quantities of diamond. Diamond Model

20 Diamonds Model of idealised kimberlite magmatic system illustrating the relationship of crater, diatreme and hyperbyssal facies rocks (Modified after Mitchell 1986). Note the carrot shaped diatreme lying beneath the volcanic crater. ~2km This is the crater diatreme (diamond pipe) model being used by Superior Resources during exploration for diamonds at the Elizabeth Diamond Prospect. Diamond Pipe Model

21 Elizabeth Diamond Prospect 32,000 me 332,000 me 7,570,000 mn 7,569,000 mn 7,568,000 mn Air photograph of crater Photo N of crater centre 33,000 me 333,000 me Contains material (c) GeoEye 334,000 me 34,000 me 0 metres 335,000 me 7,570,000 mn 7,569,000 mn 7,568,000 mn ,000 me Elizabeth Prospect Ikonos Imagery Circular Feature (Probable Crater) Crater Sediments Plan View

22 Elizabeth Diamond Prospect 32,000 me 332,000 me 7,570,000 mn 7,569,000 mn 7,568,000 mn N 333,000 me 33,000 me Contours at 0.25 milligals 334,000 me 34,000 me Bouguer Gravity 0 Section 7,569,200N metres 335,000 me 7,570,000 mn 7,569,000 mn 7,568,000 mn ,000 me Elizabeth Prospect Bouguer Gravity Circular Gravity Low Possible Diamond Pipe Alternative Explanations: Meteorite Impact Feature Deep Weathering Trough Plan View

23 Elizabeth Diamond Prospect Elizabeth Prospect Section 7,569,200N Modelled Density Carrot Shaped Density Low Possible Diamond Pipe Sectional View

24 Contains material Geoeye Elizabeth Diamond Prospect 3D View Image on Topography Height X30

25 Elizabeth Diamond Prospect Elizabeth Prospect Ikonos Imagery Gravity Contours Second Diamond Target Contains material Geoeye Plan View

26 Elizabeth Diamond Prospect The Elizabeth Diamond Prospect contains a carrot shaped modelled density anomaly lying beneath a prominent surface circular feature which is a probable crater in an area which is prospective for diamonds. It is a highpriority target which will be drilled in April/May 2009.

27 2009 Exploration Program 1. Drilling of the highlyprospective Elizabeth Diamond Prospect (and adjacent Copper, Lead and Zinc prospect) commencing April/May Drilling of the highlyprospective Walford South Prospect for Copper, Lead and Zinc later in Continuing exploration of other areas to identify large targets. The focus on large highgrade targets is essential for success. 4. Budget of $1.0 to $1.5 million with the capability to scale up if warranted based on results. 5. Two Queensland Government (CDI) grants to support drilling. $50,000 for the Elizabeth Diamond Prospect. $150,000 for the Walford South Prospect.

28 Superior Resources Limited 1. A base metal prospect with major potential ready for drilling. One of the best prospects in Queensland and probably Australia. 2. A diamond prospect containing a possible large diamond pipe ready for drilling. A second diamond target if this is successful. 3. Other prospects which are progressively being evaluated. 4. Currently trading at 7c per share which is essentially cash and liquid assets value no value for prospects. 5. Little downside at the current price and very considerable upside to the price. 6. Company wellmanaged and in excellent shape to deliver in these difficult times. 7. Competent explorers with a proven track record of discovery. 8. Cash for another 3 years exploration at the current expenditure rate.

29 JORC Statement The information in this presentation that relates to exploration results is based on information compiled by Mr Ken Harvey, a fulltime employee of the Company, who is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Harvey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Harvey consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.