Initial soil sampling at Sultan Resources’ (ASX: SLZ) Ringaroo project has generated what the company describes as “encouraging” results with multiple copper and gold anomalies identified.
Ringaroo is part of Sultan’s recent Lachlan Fold Belt acquisition comprising 330 square kilometres of copper-gold tenements in New South Wales.
Soil sampling is part of Sultan’s initial exploration program to firm up drill targets across its new tenements.
Results from Ringaroo were from a 200m by 200m grid covering about 3sq km of the project.
Samples identified a 1km by 400m anomaly with gold values exceeding 3.1 parts per billion and copper grading above 94ppm.
This anomaly is coincident with a 4.2km by 1.5km magnetic high complex, which is along strike and part of the same magnetic high as Impact Minerals’ (ASX: IPT) Apsley target.
At Apsley, Impact uncovered up to 8.1% copper and 13.1 grams per tonne silver in surface rock chips.
A second anomaly was also defined at Ringaroo about 1km to the south-east of the 4.2km target, with gold values above 4.5ppb and copper exceeding 94ppm.
Sultan noted that both of these anomalies were open in multiple directions and will be explored further under an expanded soil sampling program.
“The Ringaroo geology and geochemistry are consistent with characteristics associated with sub-surface porphyry gold-copper systems, yet this high priority target remains undrilled,” the company added.
Advancing Lachlan Fold Belt projects
Upcoming activities for Ringaroo will comprise geological mapping, further rock and soil sampling as well as petrology and high-resolution induced polarisation (IP) surveys.
Sultan anticipates these activities will assist with determining targets for drilling.
Meanwhile, IP surveys will also be undertaken across Sultan’s other priority projects Big Hill and Tucklan.
At Big Hill, geochemical sampling and mapping is also underway to test the remainder of the magnetic complex.
Similar activities are also being carried out at Tucklan, where first pass gold assays of 1.11g/t, 0.48g/t, 0.25g/t and 0.27g/t were found in rock chips.