Special Report: An Induced Polarisation (IP) survey across Sultan Resources’ (ASX:SLZ) Ringaroo Project identifies a “very strong” 650m long, 250m wide anomaly underneath previously defined gold and copper soil anomalies.

IP surveys can identify changes in electric currents caused by different rocks and minerals beneath the surface, and is often used in porphyry exploration.

The IP survey at Ringaroo – one of Sultan’s Lachlan Fold targets — returned strong high chargeability anomalies supported by low grade copper and gold at surface all within a ‘magnetic high’ feature.

Taken together, these suggest the potential presence of porphyry style copper gold mineralisation at Ringaroo.

“A strong magnetic feature overlain with anomalous Au and Cu soil response and coincident IP chargeability highs is a compelling recipe for porphyry occurrence,” Sultan says.

The Ringaroo prospect geology has been mapped by the Geological Survey of NSW as the same Macquarie Arc volcanic rocks that host Alkane’s recent Boda discovery.

Furthermore, sampling by explorer Impact Minerals (ASX:IPT) of the same magnetic feature just north of Ringaroo revealed high grade copper results in outcrop.

Lachlan Fold exploration continues

Future work at Ringaroo will include drill testing of the coincident IP chargeability/magnetic high anomaly/gold surface geochemistry.

Meanwhile, Sultan’s extensive Lachlan Fold Belt exploration program is ongoing at all priority targets.

In addition to the near-term drill testing at Tucklan, the company expects to drill test targets at Big Hill in the coming months.


This article was developed in collaboration with Sultan, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.