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Sultan maps out large gold anomaly in the Lachlan Fold Belt
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Special Report: Sultan has defined a large gold-in-soil anomaly at the Tucklan project in the red-hot Lachlan Fold Belt (LFB) of NSW.
Sultan Resources’ (ASX:SLZ) ongoing exploration program in the Lachlan Fold is designed to identify drill targets with high potential to host porphyry-style gold-copper and epithermal gold deposits across the three highly prospective targets at Big Hill, Ringaroo and Tucklan.
At Tucklan, soil and rock chip sampling has returned grades of up to 1.11 grams per tonne (g/t) gold over a 1.5km by 300m anomaly, which includes a high grade 700m by 300m core.
There is also potential to increase the size of the “high priority” anomaly – which remains completely undrilled — as it remains open to the southeast.
The anomaly is just 45km northeast of Alkane’s (ASX:ALK) Boda discovery and corresponds with historical hard rock gold workings, Sultan Resources (ASX:SLZ) says.
Boda has been credited with opening up the LFB for new exploration. The prospect of making more porphyry discoveries is getting explorers all fired-up thanks to their money making potential.
Sultan’s Tucklan project contains pathfinder elements, host geology and metal zonation that supports a large-scale, zoned hydrothermal gold system consistent with several ore deposit models.
These include volcanic hosted epithermal gold systems that could be related to buried gold-copper-molybdenum porphyry systems.
Read: Guy on Rocks: The forecasters seriously underestimated gold, iron ore
Sultan is now planning follow-up exploration including geological mapping, further rock and soil sampling, petrology and induced polarisation (IP) surveys to delineate sites for drill testing.
Additionally, follow-up exploration at the Big Hill prospect will continue in the next quarter, including hi-res ground IP and ongoing geochemical sampling.
At Big Hill, Sultan has defined a 2.2km by 400m soil anomaly where rock sampling has returned grades like up to 2.5 per cent copper.
This represents a compelling exploration target, Sultan says.
The surface features here are consistent with upper or outer parts of a porphyry gold-copper system, such as the high-grade Cadia-Ridgeway mine 50km to the south, and Alkane’s Boda discovery about 50km to the north.
Last month, rock samples taken from old mullock heaps (loose stone left over from old mining operations) at the Gowan Green prospect at Big Hill returned results of up to 24.6g/t gold, 26.1 per cent copper and 65.5g/t silver.
Sultan believes that Big Hill and Gowan Green could potentially be part of the one, massive porphyry system.
Soil and rock chip sampling has also begun at the Ringaroo porphyry copper-gold target that is directly along strike from Impact Minerals’ Apsley target.
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.
