Sultan to drill for Julimar-style nickel targets at Lake Grace
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Sultan Resources (ASX:SLZ) is preparing to carry out aircore drilling to test for Julimar-style nickel sulphide targets at the Lake Grace prospect in Western Australia.
The company has long believed in the prospectivity of its Lake Grace tenements, a belief that it says was validated by Chalice Mining’s (ASX:CHN) discovery of the Julimar nickel, copper and platinum group elements deposit about 215km to the northwest in the same belt of rocks.
It plans to carry out a 3,500m program to test 13 discrete areas of known and interpreted ultramafic occurrences that were mapped by an airborne magnetic survey.
Should this confirm that the magnetic response represents ultramafic bodies, geochemical and/or mineralogical studies will be undertaken to determine whether the ultramafic is, or has the potential to be, fertile for massive nickel sulphides or any nickel-copper-cobalt-platinum group element mineralisation.
Historical exploration at Lake Grace has shown ultramafic rocks with evidence of nickel and cobalt bearing sulphides in drilling carried out by the Electrolytic Zinc Company of Australia back in 1969.
Sultan’s aircore drilling will test this body as well as two strong magnetic responses interpreted to represent ultramafic bodies further to the south.
It added that there is strong geophysical evidence for more than 25km of cumulative strike length of ultramafic rocks across its 690sqkm tenement portfolio.
Separately, the company added that the current drilling for porphyry gold-copper at its Big Hill prospect in central-western New South Wales is progressing well.
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.