Sultan’s Key Gold and Base Metals Portfolio in the Yilgarn Craton of WA

  • May 04, 2020 AEST
  • Team Kalkine
Sultan’s Key Gold and Base Metals Portfolio in the Yilgarn Craton of WA

Sultan Resources Ltd (ASX: SLZ), is an Australia focussed Gold and Base metals explorer, holding quality assets in the neighbourhood of mineral discoveries targeted by industry majors. Sultan wholly owns the tenements with possibilities of large gold, Nickel, Cobalt and base metals mineralisation at Lake Grace, Thaduna, East Tallering and Dawallinu.

All the four projects are located in the southern Yilgarn Craton of Western Australia, a region once known for Gold but evolved to host various large scale base metals operations such as the iconic Mincor’s Kambalda Nickel operations, establishing the region as one of the greatest nickel provinces globally.

Source: Sultan Resources

 

Sultan surrounded by Significant Discoveries

Sultan manages a multi-commodity portfolio stretching over 946 square kilometres, which enables the explorer to manage risks against the commodity prices and, prioritise the right commodity assets when the prices shoot up. The projects are in close vicinity of significant recent discoveries such as Lodestar and Lake Grace with all major mining companies including Lodestar Minerals, Gold Road Resources and Sandfire exploring in the mining friendly jurisdiction of Western Australia.

Sultan Resources in the Hottest Exploration Region, The East Lachlan Fold Belt: Read Here

Right Commodity, Right Time

Gold, AKA Safe Haven

Gold, a safe haven asset, gains strength when other markets such as the conventional equities and commodity market face challenges. The coronavirus pandemic fuelled the gold prices globally, which coupled with the weaker $ performance led the gold prices to scale ~$2800 mark. Australia is touted to emerge as the World’s largest gold producer in 2021 and backed by increased production via expansion projects and new greenfield projects.

Gold Price Performance Source: Eikon Refinitiv

 

Nickel and Copper, Battery Metals

Nickel and Copper, the fundamental commodities for the burgeoning energy storage and electric vehicles have been considered as the critical minerals by the Western Australian government and facilitates the development of such projects. In addition, the pursuit of a cleaner and sustainable energy sources has led to rising adoption of renewable energy which further escalates the demand for the battery commodities.

Sultan follows a targeted approach of exploring gold and base metals across the prospects using modern exploration techniques, creating value for the company and its shareholders.

Lake Grace Nickel Copper Gold project

The Lake Grace project is located almost 250 kilometres from Perth and includes 5 tenements covering over 690 square kilometres. The project area comprises of two major sub-divisions namely, Lake Grace Nickel Cobalt and Lake Grace Gold projects.

Sultan recently completed the 991 metres Reverse Circulation (RC) drilling program along the strike of the Challenger gold mineralisation. The 5 holes drilling program targeted the earlier identified gravity anomalies from the ground gravity survey in 2019. The assay results revealed the presences of significant gold mineralisation, consistent with the last drilling campaign.

Source (Company’s Report)

 

The mining district hosts several gold and battery metal projects such as Ramelius Resources’ Tampia gold project and the Golden Mile Resources’ Quicksilver Nickel Cobalt project.

Thaduna Gold Copper Project

The Thaduna Gold project is located in the Murchison gold field, adjacent to the Lodestar minerals’ Ned Creek project which uncovered large intrusive gold mineralisation similar, to the 1 Million ounce projects across the Yilgarn Craton. Thaduna project includes 2 grated tenements extending over 22 square kilometres.

Gold structure and mineralisation is anticipated to trend on the Sultan’s Thaduna tenements and was confirmed by the aircore drilling program which revealed substantial gold and base metals anomalism.

East Tallering Gold Project

East Tallering stretches over 67 square kilometres, almost 180 kilometres from Geraldton on the northeast extension of the Tallering Greenstone Belt. Sultan’s tenement shares its boundaries with the Adaman Resources’ Snake Well Gold project. The exploration programs at the East Tallering project indicates large gold-mineralised alteration and quartz-vein system and calls out for deeper drilling programs.

Sultan is progressing on a discussion for land access with the traditional heritage groups and anticipates a follow up drilling program on its tenements.

 Dalwallinu Gold Project

The Dalwallinu Gold project extends over 167 square kilometres and it holds the potential for high grade gold discovery similar to Independence Group’s Pithara Gold mine. Dalwallinu stretches along the 20 kilometres long strike of the Yerlering fault corridor and is under negotiations for the landowner’s access.

Sultan’s New Venture in The Lachlan Fold Belt

Sultan signed a binding agreement with Colossus Metals to acquire 100% stake in the company and its gold and copper exploration tenements in New South Wales. It is to be noted that the Lachlan Fold Belt is home to the largest gold mines such as Newcrest’s Cadia Ridgeway operations and the most significant recent discoveries such as Alkane Resources’ Boda which intercepted 1,167 metres with 0.55g/t gold, 0.25% copper from one of the drilling holes during the recent drilling program.

Sultan Releases Quarter Activities Report: Acquiring and Exploring Key Projects in Already Established Neighbourhoods: Must Read

Stock Performance

On 04 May 2020, SLZ closed the day’s trade at $0.075, with a market cap of $3.81 million. In the past three months, it has delivered 30% returns to its shareholders.

 


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