Sultan Resources hits massive structure at Razorback gold-copper target in diamond drilling program
Link copied to
Mineralisation is hosted in limestone and mafic volcanics abutting the Big Hill magnetic complex and displays skarn-like affinities.
Sultan Resources has hit a “significant” structure beneath mineralised outcrop during a maiden diamond drilling program at the Razorback copper-gold target, part of the Big Hill Project within the Lachlan Fold Belt in Central New South Wales.
The company has now completed the first two holes which have defined an altered and veined structural zoned at the first drill location.
Sultan’s (ASX:SLZ) program comprises up to nine holes across three different locations targeting the >1km long Razorback structure hosting high-grade gold and copper rock chip assays including 0.98g/t gold and 2.65% copper and 0.55g/t gold and 2.24% copper.
Soil sampling across the outcropping gold-copper zone has also defined a large-scale, open, 1.5km x 0.2km high order soil geochemical anomaly, representing a priority target.
The drill rig has now moved north and has started drilling hole RZDD003.
RZDD001, collared to the southwest of an altered, high-grade copper bearing outcrop, intersected a strongly altered and veined structural zone from about 2–20m down hole.
This zone is interpreted as being the down dip extension of the outcropping skarn breccia containing high-grade rock chip samples at surface.
The hole concluded at about 40m of chlorite-magnetite altered volcanoclastic sandstone with abundant hematite alteration of clasts and stringers.
RZDD002 collared around 35m southwest of RZDD001 and was designed to intersect the structure at depth beneath the shallow intersection in hole 1.
A structural zone containing volcaniclastic breccia and skarn alteration occurred from 42-60m and included an interpreted fault zone at 52.5m.
The hole concluded at 107.7m at a 40m interval of volcaniclastic sandstone and moderate chlorite-magnetite alteration.
At hole RZD003, where Sultan is drilling now, the hole is collared 20m southwest of the outcrop where rock chip sampling revealed gold contents of 1.12g/t gold, 1.69g/t, and 1.14g/t.
This unit is interpreted to be the host lithology to the mineralised breccia zone where high magnetic susceptibility readings have been observed to be like the unit preceding the mineralised breccia zone in RZDD001 and RZDD002.
Sultan will continue to keep the market informed of the drilling at Razorback as the program progresses.
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.