Sultan Resources (ASX: SLZ) continue to demonstrate that its newly acquired Canadian projects are worthy investments, with the explorer having unidentified a priority pegmatite target zone at its Ruddy Project in Western Ontario.
Promising Pegmatite Target
The new exploration target is located in the Projects interpreted “Goldilocks Zone” surrounding the Allison Lake Batholith, which is believed to be a prime location for the formation of Lithium-Caesium-Tantalum bearing pegmatite bodies, with reconnaissance of the area observing a number of pegmatite occurrences within the Goldilocks Zone outcropping up to 30m and 15m wide.
Initial fieldwork of the Project was completed by four helicopter-supported geologists from Apex Geoscience who conducted reconnaissance through the sampling of priority outcrop, with a total of 157 samples taken, 55 of which were taken from pegmatite localities, being delivered to ALS laboratories for multi-element analysis.
Figure 1: All sampled sites at Ruddy Project in relation to tenure at the completion of June 2023 reconnaissance
Observation of the outcropping pegmatites also showed evidence of pegmatite fractionation minerals in the form of apatite or beryl, further indicating potential mineralisation.
Picking up the pace
A sampling of the priority outcrop searched for lithium and its associated pathfinding elements, with the team also undertaking veining of the occurrences for potential gold mineralisation where appropriate, with the samples collected now being tested for a number of elements including lithium and gold.
Sultan plans to use the resultant lithium values uncovered in testing, as well as other geochemical markers such as K/Rb ratios, to better focus on additional fieldwork to identify possible covered mineralised LCT pegmatites.
Further supporting the identification of this new zone of interest is an interpretation of previous fieldwork undertaken on the site as part of a large pegmatite survey of the northern Allison Batholith area, which has uncovered an additional six pegmatites outside of the pegmatite localities uncovered by Apex.
The Company said that the combined observations between the latest fieldwork completed by Apex and this previous fieldwork supports the identification of a priority zone of interest within the original LCT Goldilocks interpretation.
“We are very pleased that initial observations at Ruddy have confirmed and refined a priority target area within the previously interpreted LCT Goldilocks Zone, and we eagerly await assay laboratory results to further focus our on-ground activity within the tenure,” Chairman Jeremy King said.
Sultan plans to deliver the assays for samples taken from Ruddy alongside an updated exploration timetable for Ruddy’s sister project Kember Lake where it recently uncovered a number of historically mapped pegmatite occurrences.
SLZ’s Australian Stock Exchange-listed share price has risen 2.63% today and is currently selling at 3.9c (11:33 am UTC+ 8 hours).