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Sultan Release Results From Ruddy Lithium Project

22 September 2023 13:32
ASX: SLZ

Sultan Resources (ASX:SLZ) have released the results from the first stage reconnaissance exploration undertaken at the Ruddy Lithium Project in North-Western Ontario, with priority lithium target areas identified within the interpreted ‘Goldilocks’ Zone.

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Figure 1: The Ruddy Project and identifies priority zones

The ‘Goldilocks’ Zone

Preliminary exploration began in July, with the explorer hoping to demonstrate that its newly acquired Canadian lithium Projects are worthy investments.

The first stage of exploration at the Ruddy Lithium Project was carried out by Apex Geoscientists and successfully confirmed priority exploration targets within the interpreted Lithium-Caesium-Tantalum (LCT) “Goldilocks Zone” surrounding the Allison Lake Batholith.

The fieldwork also reported multiple pegmatite occurrences of up to 30 metres outcrop and up to 15 metres width within the initial area of focus.

Additionally, the Company has documented the presence of pegmatite fractionation minerals, such as apatite or beryl, along with low K/Rb ratios observed in a significant portion of the sampled pegmatites.

During an eight-day reconnaissance program, a total of 157 samples were collected, and more than 35 percent of these samples confirmed the occurrence of pegmatites in the field.

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Figure 2: All sampled sites at the Ruddy Project from June 2023 reconnaissance

Upon reviewing the samples and the accompanying data, the Company has identified a broad lithium anomaly along with a correlation between rock types in the field.

This indicates that certain outcrops previously categorided as ‘felsic,’ ‘granitic,’ and other ambiguous rock types should now be reclassified as likely pegmatitic in nature.

Sultan Resources has reported that 33 samples, constituting approximately 56 percent of those assayed, fall into this reclassified category.

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Figure 3: Photos of the samples and outcropping

Sultan Resources sent the samples to ALS Laboratories in Canada for a comprehensive multi-element analysis.

Future Outlook

The Company will need to conduct additional exploration at the Ruddy Lithium Project to further investigate the priority zones identified in these results.

Additionally, Sultan has chosen 16 samples for re-assaying using sodium peroxide fusion, and is currently awaiting the results.

The analysis of gold in the submitted samples yielded values ranging from 5 ppb, which is the detection limit, to a maximum value of 33 ppb. Notably, only four values exceeded 20 ppb. Sultan views these results as indicating weakly anomalous gold content but will persist in evaluating the tenure’s potential for other non-LCT mineralisation.

The Company also shared an update regarding delays encountered at the Kember Project, with these delays stemming from one of the four First Nation landowners needing extra time to inform their members about the planned activities.

Sultan intends to pursue ongoing negotiations with this First Nation group in order to adjust the exploration timetable, ideally aligning it with additional groundwork at the Ruddy Project.

Sultan Resources Comments

Sultan’s Chairman Jeremy King commented on the results.

“We are very pleased to confirm our initial observations of a priority zone at our Ruddy Project associated with an interpreted LCT Goldilocks Zone, with assay results now highlighting an excellent target to further focus our exploration,” he said.

SLZ’s Australian Stock Exchange-listed share price has risen 4.166% and is currently trading at $0.025 (1:15pm UTC+ 8 hours).

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