- Sultan Resources (SLZ) has received the final round of results from a maiden drill programme targeting the Tucklan prospect in New South Wales
- Only one of the drill holes intercepted Sultan’s key silver target but returned encouraging intercepts of 88 metres at 4.1g/t silver including eight metres at 15.5 g/t silver
- The explorer says accompanying soil sampling also revealed a large silver- and gold-in-soil anomaly to the east of recent drilling and represent “a significant target” extending from the drill hole
- Sultan Resources Managing Director Steve Groves said the results were extremely encouraging
- Sultan Resources shares are off 9.52 per cent, trading at 19 cents
Sultan Resources (SLZ) has received the final round of results from a maiden drill programme targeting the Tucklan prospect in New South Wales
Sitting within the company’s Lachlan Fold Belt prospects, the explorer completed a six-hole reverse circulation and diamond drill programme at the Tucklan tenement during December 2020 and January 2021.
Of the six holes drilled, only one pierced the company’s induced polarisation (IP) chargeability target, however, Sultan affirms the silver mineralisation is associated with multi-phase quartz-carbonate-sulphide veining.
Key intercepts from said drill hole returned 88 metres at 4.1g/t silver from 200 metres, including eight metres at 15.5 g/t silver from 218 metres and two metres at 45.6 g/t silver from 284 metres.
The company says the results from extension soil sampling reveal a large silver and gold in soil anomaly to the east of recent drilling and represent “a significant target” extending from the drill hole.
Sultan Resources Managing Director Steve Groves said the results were extremely encouraging.
“Drill hole TRC0001 pierced the IP bullseye and revealed a significant, silver-rich hydrothermal mineralising vein system,” he commented.
“Recent surface work at Tucklan has shown that strong silver soil anomalism extends east of TRC0001 and that we are potentially only brushing the edge of a major silver-rich system,” he added.
Sultan Resources shares are off 9.52 per cent, trading at 19 cents at 2:45 pm AEST.