Sultan Resources Ltd has built a portfolio of mineral exploration projects in Western Australia that are prospective for gold, copper, nickel and cobalt. The Company listed on the Australian Securities Exchange (ASX) on 15 August 2018 under the code SLZ and raised $4.8 million, which will be used to fund exploration across its portfolio, in particular high priority targets Thaduna and Lake Grace.
The Company acquired the East Tallering, Dalwallinu, Thaduna and Lake Grace projects from Galahad Resources. Three of these have granted tenements and Sultan expects the Lake Grace Project tenements to be granted in the second half of CY2018.
The projects cover nearly 950km2 in emerging exploration terrains targeted by experienced explorers such as Sandfire Resources Ltd (ASX: SFR) and Gold Road Resources Ltd (ASX: GOR). Junior explorers including Cygnus Gold Ltd (ASX: CY5), Explaurum Ltd (ASX: EXU) and Lodestar Minerals Ltd (ASX: LSR) are also exploring deposits and prospects adjacent to Sultan’s projects.
Sultan has planned exploration activities across its portfolio that will commence immediately following its ASX listing in August 2018. These programs are designed to assess the potential for significant mineralisation on each of the licences and the Company will use initial results to determine the scope, location and timing of further exploration across the portfolio.
Sultan is focused on delivering shareholder value through exploring and developing these projects as well as identifying and acquiring any new opportunities to add to its portfolio.