Sultan Resources ready for 1000m drill program at Razorback Ridge
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Sultan Resources will get stuck into drilling at its high quality Razorback Ridge target in the East Lachlan Fold Belt in New South Wales.
The skarn-like gold copper target has returned a series of intriguing rock chip samples for Sultan (ASX:SLZ) across a 1km long structure, with a 1000m diamond drill program consisting of nine holes at three drill sites planned to test beneath the surface.
Soil sampling has defined a large gold and copper anomaly covering some 1500m by 200m abutting its Big Hill porphyry target.
Previous results from rock chips include:
While Razorback Ridge is marked by a north-northeast striking zone of outcropping skarn-style mineralisation that is exposed for over 1km in a copper rich district hosting some major mines, it was unrecognised by previous explorers.
Hosted in quartz sulphide vein breccias showing quartz – Fe carbonate – chlorite – sulphide – hematite +/- magnetite altered limestone and chlorite altered mafic volcanics, the mineralised outcrop is strongly coincident with a prominent north-south striking linear magnetic feature.
Sultan is especially excited about rock chip results of up to 2.25g/t Au and up to 2.65% Cu that have been returned from outcrops.
Drilling at Razorback Ridge will be relatively shallow at first and is designed to provide structural orientation, before follow-up holes target the structure at depth.
Sultan says it will use an environmentally friendly track-mounted drill rig and comply with all COVIDSafe requirements during the drilling program, which is due to start in mid-October with all regulatory approvals, landowner compensation agreements and drill contracts finalised.
It adds to the prospectivity of the Big Hill porphyry prospect, where Sultan says three recently drilled holes returned elevated copper and pathfinder elements in zones of porphyry-style alteration.
Those results strengthened the prospectivity of the area to host a porphyry system similar in geological style to Newcrest’s nearby Cadia gold mine, the largest in Australia.
Drilling is yet to hit the mother lode at Big Hill, but assays from the first three drill holes put into the porphyry target have given confidence it bears similar pathfinders to the 50Moz Cadia-Ridgway mine.
“The results show elevated responses in a number of important elements at levels that are consistent with the interpretation that the drilling has intersected the distal alteration halo of a potential alkalic porphyry system,” Sultan said.
“The average copper throughout the altered volcaniclastic units across all three holes is approximately 100ppm Cu and up to 385ppm Cu locally.”
At Cadia, about 50km south of Big Hill, Sultan says those pathfinders and copper rich anomalies are found a couple hundred metres from high grade gold and copper mineralisation.
“Future step out drilling at Big Hill will aim to map an increase in distribution and intensity of the characteristic ‘reddened’ inner propylitic alteration zones to allow vectoring to the potential high grade Au-Cu porphyry core. Current drilling is likely to be >200m from an intrusive centre based on the Ridgeway model,” the company said.
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.