- Sultan Resources (SLZ) has launched an initial phase of exploration aircore drilling, targeting nickel-prospective ultramafic rocks at its Lake Grace Project
- The nickel prospectivity of Lake Grace has been verified by the discovery of Chalice Gold Mines’ Julimar nickel, copper and platinum group elements (PGE) deposit nearby
- The first four holes have been completed and geological logging has confirmed the presence of ultramafic lithology in at least three of them
- Sultan Resources is steady at A$0.16 at 9:25 am AEDT
Sultan Resources (SLZ) has launched an initial phase of exploration aircore drilling, targeting nickel-prospective ultramafic rocks at its Lake Grace Project.
The project is located between Lake Grace and Kulin in Western Australia.
The nickel prospectivity of Sultan’s Lake Grace tenement portfolio has long been recognised by the company, and is supported by the discovery of Chalice Gold Mines’ Julimar nickel, copper and platinum group elements (PGE) deposit roughly 215 kilometres northwest in the same belt.
The aircore program is designed to confirm the presence of ultramafic rocks based on the magnetics interpretation and help determine the prospectivity of the region.
The aircore program began at the northern end of the project where previously identified ultramafic rocks have been noted.
The first four holes have been completed and geological logging has confirmed the presence of ultramafic lithology in at least three of them.
The rig will traverse further ultramafic-prospective areas of the tenement package prior to end of the year and will return to finish the program in January 2022.
Sultan Resources is steady at A$0.16 at 9:25 am AEDT.