Sultan Resources Ltd (ASX:SLZ) announced that the initial reconnaissance exploration confirmed the presence of outcropped ultramafic rocks at the Lake Grace project.
The Rock chip samples from the sub-outcropping rocks were collected and have been submitted to the laboratory. The historical exploration had identified ultramafic rocks hosting nickel and sulphide mineralisation. The strong geophysical evidence suggests a strike length more than 25 kilometres across the Lake Grace portfolio.
Upon the completion of crop harvesting and the finalisation of access agreements with the landowners, the next phase of exploration program, including the geochemical sampling program will commence.
Sultan Resources traded at $0.25 a share on 23 November 2020 (12:07 PM AEDT).
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