- Sultan completes IP survey at the Razorback prospect, results awaited
- The gold explorer continues the drilling program at Tucklan and will commence drilling on diamond tails after the Christmas break
- IP survey at Big Hill and Gowan Green deposit to precede the drilling campaign during the new year 2021
Seasoned gold explorer, Sultan Resources Ltd (ASX:SLZ) announced an update that the drilling activities continue to target the epithermal gold target at Tucklan in the east Lachlan fold belt.
The drilling of the diamond tails is expected to commence at Tucklan following the Christmas break. So far, the company has drilled 6 reverse circulation (RC) holes from the 12-hole initial drill program at Tucklan. SLZ has already secured a diamond drilling rig to finalise the drill holes and to target the prospects at depth. The company had commenced a drilling program at Tucklan to target the IP anomalies from the previously concluded IP survey.
East Lachlan Fold Belt Gold Project Source: Sultan Resources December 2020
At the Big Hill prospect, Sultan has already finalised the Induced Polarisation (IP) survey at the Cadia skarn style Razorback deposit. The results of the IP survey at Razorback are awaited. Further, the IP survey has been planned to precede the drilling program at the Cu-Au porphyry target at Big Hill and Gowan Green skarn target during the new year 2021.
Sultan closed at $0.23 a share on 17 December 2020 with a market capitalisation of $15.29 million.
All financial information pertains to Australian Dollars unless stated otherwise.