Sultan prepares for drilling barrage at big Lachlan Fold gold target
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Special Report: Months of methodical groundwork culminates in a highly anticipated November drilling campaign at Sultan Resources’ (ASX:SLZ) untouched Tucklan gold prospect.
In July, Sultan acquired a 330sqkm exploration package in NSW’s red-hot Lachlan Fold.
IP surveys can identify changes in electric currents caused by different rocks and minerals beneath the surface.
A recent IP survey at Tucklan — just 50km northeast of Alkane Resources’ (ASX:ALK) Boda discovery — defined a high-order 1.6km by 600m induced polarisation (IP) chargeability anomaly.
This anomaly is below low gold and copper soil anomalies (low grade), outcropping gold mineralisation and undrilled historical workings.
These characteristics, all taken together, make Tucklan a very exciting gold target.
Sultan’s November ~12 hole drilling program will be targeting these priority anomalies, as well as under historical gold workings that have no drilling to date.
“These anomalous characteristics are often indicators of volcanic-related epithermal gold mineralisation and the strong correlation evident at Tucklan has elevated the prospect to a high priority drill ready target,” Sultan says.
“Exploration activity approval forms have been submitted to the NSW Resources Regulator and are awaiting approval.
“A drilling contractor has been appointed and a rig has been secured.”
Planned commencement of drilling is aimed at mid-November.
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.