Special Report: Sultan Resources has brought a diamond drill rig in at its Tucklan gold project in the Lachlan Fold Belt in NSW to follow up exciting leads generated late last year.
The diamond drilling will continue testing targets that IP anomalies detected by Sultan Resources (ASX:SLZ) beneath strong copper-gold surface geochemistry at Tucklan, the strongest of which were previously targeted by a series of deep reverse circulation drill holes started late last year.
Conditions underground proved challenging for the RC rig, and only one of the five planned holes continued to the design depth – a challenge overcome with diamond core tails now underway at Tucklan.
Sultan plans to initially complete two diamond tails and await assay results for the entire program to date before deciding on which of the remaining holes to complete.
The initial allocation for the drill program allows for seven additional holes to be drilled should results warrant it.
Elsewhere, IP surveying is now underway at the Big Hill and Gowans Green targets at the nearby Ringaroo project.
Sultan said both presented as exceptional porphyry and skarn gold-copper targets.
The IP survey comprises four north-to-south lines each 4.6km in length and is designed to locate deep drill targets indicative of potential porphyry mineralisation.
The results will guide the planning of drill holes to be undertaken in the first half of 2021.
Postcode potential
Sultan’s landholding in in the East Lachlan Fold province places it in world class copper-gold terrain, in close proximity to Newcrest’s Cadia Valley operations, CMOC and Sumitomo’s Northparkes copper-gold mine, Evolution Mining’s Cowal gold mine and Regis Resources’ McPhillamays gold project.
Sultan has a number of targets in the area, including the Tucklan, Ringaroo and Big Hill projects where a number of highly promising prospects have been identified.
Sultan also holds projects within the south terrane region of the WA’s Yilgarn Craton.
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.