- Sultan Resources (SLZ) has defined a 1.6 kilometre-by-600 metre chargeability anomaly at its Tucklan Project in New South Wales
- An induced polarisation survey was conducted over an existing gold and copper anomalous magnetic-high complex to identify drill targets
- The Tuckland epithermal gold target is now ready to be drilled and Sultan Resources has commenced planning
- Additionally, the company defined a 1.4 kilometre-wide gold-copper porphyry target at the Glen Athol anomaly
- Company shares are up 9.76 per cent and trading for 22.5 cents
Sultan Resources (SLZ) has received exceptional results from an induced polarisation (IP) survey conducted at the Tucklan Project in New South Wales.
The IP survey was completed over an existing gold and copper anomalous magnetic-high complex that is located around 15 kilometres south of Dunedoo.
The survey is part of an ongoing exploration aimed at identifying drill targets which have the potential to host porphyry-style gold-copper or epithermal gold mineralisation across the Lachlan Fold Belt.
The IP survey has defined a large, 1.6 kilometre-by-600 metre-wide chargeability anomaly which also contains multiple higher order anomalies. The exceptional response is coincident with previously identified outcropping gold mineralisation and untested historical workings.
"Sultan is delighted that the very high chargeability and resistivity results from the IP survey at Tucklan match up beautifully with the gold and copper in soil results, the magnetic anomaly and the rock chip results from the historical workings," Chairman Jeremy King said.
Rock chip sampling conducted in May this year confirmed the presence of strongly anomalous gold and pathfinder elements. Best results include 1.11g/t gold, 0.25g/t gold and 0.48g/t gold.
"This has given us great confidence to fast-track our efforts into drill testing these priority targets, and complete extension soils and extension IP surveying along strike to the southeast," Jeremy added.
Additionally, a single IP traverse across the Glen Athol magnetic-high anomaly defined a coincident 1.4 kilometre-wide IP chargeability high anomaly and IP resistivity high anomaly. The single line has uncovered four areas of interest.
Sultan Resources is now planning to conduct follow-up drilling at Tucklan as well as sampling work at the Glen Athol porphyry target. This is aimed at identifying geochemical pathfinders and alteration signatures that may indicate a porphyry deposit.
Finally, extension soil sampling grids have been completed and submitted with results pending.
Company shares are up 9.76 per cent and trading for 22.5 cents at 1:15 pm AEDT.