Sultan fast tracks drilling of ‘beautiful’ gold and copper targets
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Special Report: Sultan is ramping up its efforts to drill test priority targets at its Tucklan project in New South Wales’ highly prospective Lachlan Fold Belt.
This comes after the company defined a high-order 1.6km by 600m induced polarisation (IP) chargeability anomaly below gold and copper soil anomalies, outcropping gold mineralisation and undrilled historical workings.
Additionally, Sultan Resources (ASX:SLZ) says the IP anomalies also coincide with the previously identified magnetic high complex and remain open along strike to the southeast and northwest.
A separate reconnaissance IP line over the Glen Athol prospect defined a 1.4km wide IP anomaly that is consistent with the geophysical signature of East Lachlan type gold-copper porphyry deposits such as Cadia-Ridgeway.
Chairman Jeremy King said the very high chargeability and resistivity results from the IP survey at Tucklan matched up “beautifully” with the gold and copper in soil results, the magnetic anomaly along with rock chip results from historical workings.
“This has given us great confidence to fast-track our efforts into drill testing these priority targets, and complete extension soils and extension IP surveying along strike to the southeast,” he added.
“The field team are very busy preparing for our maiden drill program in NSW.
“Furthermore, work continues at Big Hill which is advancing rapidly and shaping as a project which will also yield high-quality drill targets.”
The company recently discovered a new outcropping gold and copper target at Big Hill.
Sultan’s Tucklan project is just 50km northeast of Alkane Resources’ (ASX:ALK) Boda discovery.
It contains pathfinder elements, host geology and metal zonation that supports a large-scale, zoned hydrothermal gold system consistent with several ore deposit models.
Soil sampling has defined a 1.5km by 300m northwest-southeast striking gold in soil geochemical anomaly that includes a higher grade 700m by 300m core.
Historical gold workings are associated with the gold in soil anomaly and include numerous prospecting pits along with a shallow shaft and adit.
IP surveys are often used in porphyry exploration to detect the presence of disseminated sulphides over a large volume of mineralised rock.
At Tucklan, the survey demonstrated a remarkably consistent, linear chargeability and resistivity correlation that is strongly coincident with the gold and copper soil response and parallel to a de-magnetised linear feature within the broader Tucklan magnetic complex.
Taken together with previous results, this has elevated the project into an epithermal-style gold prospect that is now ready for drill testing.
This article was developed in collaboration with Sultan Resources, 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.