Sultan Resources Ltd (ASX:SLZ) announced the results for the ground induced polarisation (IP) survey across the Ringaroo Project (EL8735) in the Lachlan Fold Belt. The IP survey has been completed on the already identified gold and copper anomalous magnetic-high complex in NSW.
A strong IP anomaly (650 metres long) has been identified in a region with already defined gold and copper anomalies. IP anomalies coincides with already identified magnetic high complex and remains open to east and west. The drilling campaign at Tucklan is ongoing and remains on track for the end of the month.
The IP survey at the Big Hill and Razorback prospects are due to commence following crop harvest. Harvesting commenced in early November and Sultan plans to mobilise equipment and rigs to Tucklan by the end of the month.
Sultan traded at $0.23 a share on 10 November 2020 with a market capitalisation of $16.68 million.
All financial information pertains to Australian Dollar unless stated otherwise.
