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Superior resumes control of Nicholson zinc project as Teck withdraws

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Superior resumes control of Nicholson zinc project as Teck withdraws

Superior Resources Ltd. resumed control of the Nicholson zinc project tenements in northwest Queensland, Australia, after Teck Resources Ltd. unit Teck Australia Pty. Ltd. withdrew from the earn-in and joint venture agreement.

Teck held an option to earn a 70% interest in the project, and completed the A$250,000 initial expenditure in November 2016. Teck has spent about A$600,000 on exploration at Nicholson, and was required to spend a further A$1.9 million by Dec. 31 to complete the earn in.

Superior now intends to focus exploration to the Walford Creek West cobalt-copper and lead-zinc prospect, and the Nicholson West lead-zinc prospect.

The exploration will be in addition to the planned drilling program at the Lucky Creek cobalt prospect, part of the Greenvale project in north east Queensland, the company said May 28.