Gold, copper, nickel and cobalt explorer Sultan Resources (ASX:SLZ) has flagged a new priority lithium target area within the interpreted lithium-caesium-tantalum (LCT) ‘Goldilocks’ Zone at its Ruddy Project in Ontario, Canada.
Sultan reports combined observations also highlight a priority target for further assessment in the southeast portion of the Ruddy tenure.
The company says these new zones were identified from results returned from an initial phase of reconnaissance exploration undertaken by Apex Geoscience.
Apex collected a total of 157 samples over 8 days in the field, with over 35% taken from confirmed pegmatitic occurrences in the field.
The company notes it has reviewed resultant lithium values and geochemical markers such as K/Rb ratios to focus on additional fieldwork to discover possible covered mineralised lithium-caesium-tantalum (LCT) pegmatites.
Sultan also notes it is continuing to negotiate directly with one of four First Nation (FN) groups to deliver a revised timetable for the first pass reconnaissance exploration of Kember in due course, ideally to combine with additional groundwork at Ruddy.
This work can be combined in daily helicopter flights out of Red Lake, Ontario.
“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“
Addressing the results, Sultan Resources Chairman Jeremy King says: “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.”
Sultan Resources is an ASX-listed company with a portfolio of quality assets in emerging discovery terranes.
This tenement portfolio includes the Ruddy project in Ontario, Canada, which directly abuts ground to the west held by Green Technology Metals (ASX:GT1) about 162km north-northeast of the town of Dryden.
The project covers a total land area of 10km-square and sits on the northern extremity of the Allison Lake Batholith, a fertile intrusive responsible for the development of proximal fractionated pegmatites with potential to host lithium, caesium and tantalum (LCT) mineralisation.
Sultan Resources had $1.35 million cash at hand as of 30 June 2023, according to its latest quarterly report.
