Maiden assays confirm discovery of silver mineralisation at Tucklan project for Sultan Resources

Sultan Resources ASX SLZ silver mineralisation Lachlan Fold Belt Tucklan
Sultan has intersected broad zones of silver mineralisation grading up to 45.6g/t while drilling at its Lachlan Fold Belt project.

Assay results from maiden drilling at the Tucklan project in the Lachlan Fold Belt region of New South Wales have unveiled broad zones of silver mineralisation for Sultan Resources (ASX: SLZ).

Drilling at the large-scale gold and gold-copper porphyry target commenced in December to test induced polarisation (IP) anomalies beneath strong gold, silver and copper surface geochemistry.

The first six holes of a planned 12-hole program were completed for a total 1,554m, intersecting mineralisation associated with multi-phase quartz-carbonate-sulphide veining, sericite-chlorite-carbonate alteration and disseminated sulphides.

Three holes reached their target depth of approximately 350m while the depth of the remaining holes was hampered by excessive ground water.

IP bullseye

One hole pierced the target IP bullseye to reveal a significant, silver-rich hydrothermal mineralising vein system.

The hole intersected a 136m downhole zone of moderate to intense, multi-generational vein sets and associated disseminated, stringer and vein-hosted sulphide mineralisation within volcaniclastic sediments.

Sultan said the zone represented a “significant intersection” of elevated silver mineralisation and confirmed the IP and surface geochemistry are marking the location of a “potentially large and previously undiscovered” hydrothermal, silver-rich mineralising system.

Logging of drill chips and core revealed additional zones of hydrothermally-altered volcaniclastics and coherent volcanic facies that showed multiple generations of veining and sulphide mineralisation in some holes.

Results from soil sampling revealed a large silver and gold-in-soil anomaly to the east of the drilling program, representing a significant target for future exploration including extension IP surveying and air core drilling of new silver-gold targets.

Encouraging results

Sultan managing director Steve Groves said the maiden drilling results are encouraging for Tucklan, which sits within the world-class, metal-endowed Macquarie Arc sequence.

“This part of the Arc is highly prospective for silver and our recent surface work at Tucklan has shown that we are potentially only brushing the edge of a major silver-rich system,” he said.

“This leaves us with a number of follow-up targets at Tucklan, including the original gold- bearing altered Ordovician volcanic rocks at surface which remain untested by drilling; a recently-discovered silver system to the east; and the potential porphyry system indicated by geophysics at the nearby Glen Athol prospect.”

With the silver discovery representing a significant development for Tucklan, Mr Groves said the company will assess future work programs including air core drilling and further IP work to the east of the hole which pierced the bullseye, to increase understanding of the anomaly and identify further drill targets.

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