- Sultan Resources (SLZ) recommences aircore drilling at its Lake Grace prospect in Western Australia
- Last month, the company launched an initial phase of exploration drilling, targeting ultramafic rocks at Lake Grace, but paused the program due to a total fire ban
- The program started at Target Area 1 to the northern end of the project, where previously identified ultramafic rocks have been identified in historical drilling and mapping
- On the market today, Sultan is in the grey and trading at 18 cents per share
Sultan Resources (SLZ) has recommenced aircore drilling at its Lake Grace prospect in Western Australia.
The project is located in the wheatbelt area between Lake Grace and Kulin.
Last month, the company commenced an initial phase of exploration drilling, targeting ultramafic rocks at Lake Grace.
The drilling program started at Target Area 1 to the northern end of the project at Kulin, where previously identified ultramafic rocks have been found in historical drilling and mapping by Sultan.
The first four holes at this target have been completed and geological logging has confirmed the presence of ultramafic lithology in at least three of the holes.
The aircore holes lie about two kilometres northwest of the historic diamond holes and confirm the strike extent of the first ultramafic target.
Additionally, the rig also completed a further six holes in a single traverse at target area two, some 20 kilometres southeast of Target Area 1.
These holes ranged from 34 to 61 metres in depth and intersected mostly granitic rocks, further work is needed to classify these rock types.
Following this single traverse at target area two, the rig moved south to Target Area 3 but only managed to complete three holes before the program was halted due to extreme weather and a total fire ban.
Kulin Hill
Sultan’s Kulin Hill is looking to be a compelling nickel-sulphide target and shows a number of geological similarities to Chalice Mining’s (CHN) Gonneville discovery.
Primary nickel, copper and platinum group elements (PGEs) sulphide mineralisation at Gonneville occurs mostly within the ultramafic domains and also within the minor gabbroic domains within the intrusion.
The Kulin Hill target is marked by an intense, arcuate magnetic anomaly that spans across 2.6-kilometres by 0.5 to 1 kilometre in the northern end.
“Although early days in the exploration at Kulin Hill and surrounds, Sultan is highly encouraged by the broad geological similarities between the mineralised Gonneville intrusion and the mafic-ultramafic sequence at Kulin Hill,” the company said.
On the market today, Sultan was in the grey and trading at 18 cents per share at 10:08 am AEDT.