SULTAN RESOURCES LTD

ACN: 623652 522

CORPORATE DETAILS

ASX Code: SLZ

DIRECTORS

STEVEN GROVES MANAGING DIRECTOR

19th October 2021

JEREMY KING CHAIRMAN DAVID LEES NON-EXECUTIVE DIRECTOR

MAIDEN DRILL PROGRAM TO TEST RAZORBACK RIDGE GOLD & COPPER TARGET IN THE LACHLAN FOLD BELT HAS COMMENCED

CONTACT

Suite 2, Level 1, 1 Altona Street West Perth WA 6005 www.sultanresources.com.au

[email protected]

Maiden ~1000m Diamond Drill Program at Razorback Ridge Cu-Au target has commenced
Rig has mobilised to site and has started the first hole
Drilling is targeting the >1km long Razorback structure hosting high grade gold & copper rock chip assays including:
0.98g/t Au & 2.65% Cu
0.55g/t Au & 2.24% Cu
0.62g/t Au & 2.42% Cu
0.64g/t Au & 2.00% Cu
0.99g/t Au & 2.09% Cu
1.12g/t Au & 0.1% Cu
1.69g/t Au & 0.09% Cu
1.14g/t Au & 0.1% Cu
2.25g/t Au & 0.07% Cu
(ASX Announcement 21/09/2021)
Soil sampling across the outcropping Au-Cu zone has defined a large scale, open, 1.5km x 0.2km high order Au-Cu in soil geochemical anomaly, representing a priority target.
Mineralisation is hosted in limestones and mafic volcanics abutting the Big Hill magnetic complex and displays Skarn-like affinities

Sultan Resources Limited (ASX: SLZ) ( Sultan or Company ) is pleased to announce that the diamond drill rig has mobilised to the Company’s Razorback Ridge Au-Cu prospect and has commenced the first hole of the planned 1000m program. As part of the Big Hill Au-Cu porphyry project in the Company’s Lachlan Fold Belt (“LFB”) portfolio, the drill program is designed to target the structural host beneath outcropping high-grade Cu and Au mineralisation at Razorback and will comprise up to 9 holes across 3 locations (Figure 4).

Sultan will use a small footprint, track-mounted diamond rig for the program (Figures 1 to 3) and will minimise any impact on the environment from the program. Sultan Resources and their contractors are all COVID-Safe companies and are committed to operating according to the prevailing COVID-Safe Public Health Orders throughout the planning and execution of drilling. Local communities and stakeholders will be kept informed of Sultan’s movements and the progress of the program at all times.

Progress and results from the program will be communicated to the market as information is received.

ASX ANNOUNCEMENT - 19TH OCTOBER 2021

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Figure 1: Diamond drill rig mobilising to the first hole at Razorback

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Figure 2: Rig set up on first hole drilling towards skarn-style altered outcrop at Razorback.

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Big Hill Cu-Au Boda Cu-Au
Porphyry Prospect porphyry discovery
(~50km north)
Razorback
Ridge Trend
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Figure 3: Looking north at the first hole with the Big Hill porphyry Cu-Au prospect in the background

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ASX ANNOUNCEMENT - 19TH OCTOBER 2021

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Planned drill
Planned drill
hole locations
hole locations
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Figure 4: Razorback map showing high grade gold and copper rock chip results plotted on mapped outcropping skarn-style mineralisation and high-resolution aerial imagery with drill site locations marked by white stars

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2
4
3
1
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Figure 5: Location Map – Sultan tenements in relation to World Class operating mines of the East Lachlan Fold Belt, and the recent Boda discovery (References for resources at end of document)

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ASX ANNOUNCEMENT - 19TH OCTOBER 2021

This announcement is authorised by Steve Groves, Managing Director

For further information contact: Managing Director Steve Groves [email protected]

Competent Persons Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on historical exploration information compiled by Mr Steven Groves, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Mr Groves is Managing Director and a full-time employee of Sultan Resources Limited. Mr Groves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Groves consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About Sultan Resources

Sultan Resources is an Australian focused exploration company with a portfolio of quality assets in emerging discovery terranes currently targeted by successful explorers such as Newcrest Mining, Alkane Resources, Gold Road Resources, and Sandfire Resources. Sultan’s tenement portfolio includes prospective targets for porphyry Au-Cu, structurallyhosted gold, Nickel, Cobalt and base metals and include tenements located in the highly prospective Lachlan Fold Belt of Central NSW as well as projects located within the southern terrane region of the Yilgarn Craton in south and south eastern Western Australia. Sultan’s board and management strategy is for a methodical approach to exploration across the prospects in order to discover gold and base metals that may be delineated via modern exploration techniques and exploited for the benefit of the company and its shareholders.

References

Newcrest., 2019, Newcrest Investor and Analyst Presentation, ASX Announcement, 18 November 2019
CMOC 2019., China Molybdenum Company Limited, http://www.cmocinternational.com/australia/
Evolution., 2018, https://evolutionmining.com.au/reservesresources/
Regis Resources Ltd, https://www.regisresources.com.au/General/reserves-and-resources.html
FORSTER, D.B. AND SECCOMBE, P.K., 2004: Controls on Skarn Mineralisation and Alteration at the Cadia Deposits, New South Wales, Australia. Economic Geology and the Bulletin of the Society of Economic Geologists Vol. 99, Issue 4, p. 761-788

Disclaimer

In relying on the above mentioned ASX announcement and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the abovementioned announcement.

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AI assistant

SULTAN RESOURCES LTD Regulatory Filings 2021

65816_rns_2021-10-18_576f2ca4-c6ab-4dbe-9baf-8682c9647845.pdf