Sultan Resources Limited (ASX: SLZ) received the approval for acquisition of Colossus Metals and its projects by the shareholders during the general meeting on 1 May 2020. Colossus holds key gold and copper exploration tenements in the Lachlan Fold Belt of NSW.
- An initial exploration program has been advancing well at the prospective Cu-AU targets at Big Hill, Ringaroo and Tucklan.
- The phase 1 of the exploration program including rock chips sampling across the 3 key deposits has commenced.
- The high-resolution ground IP survey will follow the geochemical studies.
- Sultan anticipates to further ramp up the exploration activities.