Sultan on verge of potential porphyry find at Big Hill
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The excitement at Sultan’s Big Hill gold-copper prospect in New South Wales is ramping up after diamond drilling intersected porphyry-style alteration.
The alteration with disseminated pyrite, trace chalcopyrite and bornite indicates that the holes could have been drilled in the distal parts of an alkalic porphyry gold-copper system.
In particular, the confirmation that the targeted induced polarisation anomaly is caused by pyrite gives Sultan Resources (ASX:SLZ) sufficient encouragement and vectors for further drill targeting within the 5km by 2.5km Big Hill magnetic complex.
That is promising news for the company as the Big Hill complex exhibits features similar to notable East Lachlan porphyry gold-copper systems such as Cadia and Boda.
Managing director Steve Groves says results indicating the holes were drilled in the distal alteration halo of a potential porphyry system are extremely encouraging while the hydrothermal alteration-related disseminated pyrite explains the shallow strong IP anomaly targeted in the drilling.
“The style and intensity of alteration varies from hole to hole and will allow us to start constructing vectors towards the possible causal intrusion and potential wallrock zones of elevated copper-gold mineralisation,” he added.
Assay results from the three-hole program are pending while analysis and interpretation of the drill data is ongoing to consider locations for additional drilling.
Big Hill is located between Boda about 50km to the north and Cadia to the south in central-western New South Wales.
Despite having a magnetic complex similar to Cadia/Boda and containing Cadia/Boda equivalent stratigraphy and host rock, it has never been the target of drilling.
Sultan’s three hole program was designed to confirm if the targeted IP anomaly was related to a pyrite halo, confirm porphyry related alteration and provide important 3-dimensional geological information to guide up to seven more holes towards significant mineralisation.
These objectives look to have been met and as such point the way for further activity at Big Hill.
Follow up drill locations will be considered on receipt of assay results and interpretation of data for additional studies.
The company is also reviewing the potentially related, outcropping Razorback copper-gold skarn target for shallow reverse circulation drill testing and intends to finalise a program once all approvals and permits are in place.
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.