Sultan’s Big Hill drilling to test for porphyry gold-copper
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Sultan has kicked off drilling to test its belief that the Big Hill prospect is similar to East Lachlan porphyry gold-copper systems such as Cadia and Boda.
The company will kick off the 4,500m diamond drilling program with three 400m deep holes that will test the main induced polarisation (IP) chargeability anomaly that lies within a magnetic low and is coincident with significant soil anomalism to confirm for the presence of a fertile porphyry system.
IP chargeability anomalies typically represent broad zones of disseminated sulphides in porphyry systems.
Sultan Resources (ASX:SLZ) added that the design of the remaining seven holes will be dependent on the results of these initial holes.
“In little over a year since acquiring the project, the team have progressed an unknown, greenfields exploration prospect to an outstanding drill-ready East Lachlan porphyry target with similar exploration characteristics to the nearby Cadia and Boda systems,” managing director Steve Groves noted.
“The discovery of such a system at Big Hill would be transformative for Sultan, and a great reward for our loyal shareholders.”
Drilling of the first three holes is expected to take about four weeks.
Big Hill is located between Boda about 50km to the north and Cadia to the south in central-western New South Wales.
The 1km long, 650m wide and 500m Big Hill anomaly occupies the centre of the 5km by 2.5km Big Hill magnetic complex that is interpreted to represent the upper or outer parts of an alkalic porphyry copper-gold system, similar to the major Cadia and Boda deposits.
It is also coincident with a 2.2km long by 400m wide north-northwest to south-southeast striking gold and copper key porphyry pathfinder soil geochemical anomaly and contains outcropping copper-bearing rocks and Cadia/Boda equivalent stratigraphy and host rock.
Despite this potential, no previous drilling has been completed in the Big Hill area.
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.