Special Report: Ongoing review of historical work at the Big Hill target within the East Lachlan tenements that Sultan is acquiring has highlighted high-grade copper mineralisation at surface.

Colossus Metals, which is currently being acquired by Sultan Resources (ASX:SLZ), continues to undertake exploration fieldwork across the Big Hill and Ringaroo porphyry copper-gold targets.

Field reconnaissance and mapping exercises across the Big Hill target have noted a number of encouraging geological features that indicate the potential of the area to host porphyry-related mineralisation.

Notably, historical workings at the prospect display outcropping secondary copper mineralisation including malachite, azurite, chrysocolla and chalcocite, which are all copper-bearing minerals.

Historical rock chips have contained notable copper grades of 2.47 per cent and 1.58 per cent.

Geological reconnaissance, rock chip and soil geochemical sampling has been completed across the Big Hill target and will be dispatched to the laboratory shortly.

First pass soil and rock chip sampling has also started at the Ringaroo prospect.

Sultan’s move to acquire Colossus for 10 million shares and $100,000 in cash was a bid to sew up the only remaining privately-held tenure in the East Lachlan, which has drawn considerable attention thanks to Alkane Resources’ (ASX:ALK) Boda discovery.

READ: The hunt is on for the next big porphyry hit in the Lachlan Fold Belt — and these small caps are leading the charge

Recent drilling at Boda returned a thick intersection of 1,167m grading 0.55 grams per tonne (g/t) gold and 0.25 per cent copper including a higher-grade zone of 96.8m at 3.97g/t gold and 1.52 per cent copper.

Other companies with active work in the region include Magmatic Resources (ASX:MAG), Impact Minerals (ASX:IPT) and Krakatoa Resources (ASX:KTA).

Sultan noted that the current work program would continue with further soil and rock sampling and geological mapping with a view to defining the optimum sites for geophysical surveys.

This is designed to find sub-surface sites of disseminated sulphides that often mark the location of porphyry-style mineralisation.

Targets identified by this work will be tested by deep drill holes.


This story was developed in collaboration with Sultan Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.