JORC Code Compliant Resource at John Fardy Zinc Deposit
The Directors of Sultan Corporation Limited (SCC) are pleased to announce that a resource has been estimated for its wholly owned John Fardy zinc and copper deposit near Crookwell in NSW and that the estimate was made in accordance with the requirements of the JORC Code (2004).
The John Fardy deposit contains a presently known estimated total resource of:
862,000 tonnes of 6.7% zinc equivalent
Sultan considers that there are reasonable prospects for eventual economic extraction of this resource.
The resource has been estimated in the categories of measured, indicated and inferred with decreasing levels of confidence as follows:
| Resource Category | Tonnes | Zn% | Cu% | Pb% | Ag g/t | Zinc Equiv. |
| measured | 470,000 | 4.9 | 0.9 | 0.7 | 14 | 7.4 |
| indicated | 301,000 | 3.3 | 1.1 | 0.3 | 13 | 5.8 |
| inferred | 91,000 | 3.3 | 1.1 | 0.3 | 13 | 5.8 |
| Total | 862,000 | 4.2 | 1.0 | 0.5 | 13 | 6.7 |
These estimates are qualified by the appended descriptions and notes on methodology, assumptions and levels of confidence. They should be read in conjunction with the descriptions of the nature and mode of occurrence of the John Fardy deposit and its drill hole intersections with a plan and sections that were published in Sultan’s announcements on 5 and 26 June 2007.
The John Fardy deposit is open at depth and the deepest diamond drill hole intersection is in Hole AJF 07 at 270 m vertically below the surface with a drill hole width of 10.71 m of 3.80% Zn, 0.91% Cu, 0.34% Pb and 10 g/t Ag. Sultan expects to commence an exploration diamond drilling program designed to test the down plunge extension of the deposit within the next five weeks. This program will take approximately three months to complete.
In addition to drilling at the John Fardy deposit, Sultan will conduct exploration activities at the Central Hill, Peelwood mine, Black Springs and single Tree Hill prospects which occur in close proximity to John Fardy. These four prospects have had only minimal drilling but in all cases have returned significant mineralised intercepts. At the Black Springs prospect, hole BSJ 7 intersected 3.00 m of 12.0% Zn, 4.14% Pb and 35 g/t Ag which was announced by the company on 17 July 2007.
The managing Director Mr. Derek Lenartowicz said: “The John Fardy resource starts at the surface with the highest zinc, copper and lead grades concentrated in the upper vertical 80 metres of the deposit. This represents an ideal scenario from a mining point of view, with the likely development of an open cut mine followed by underground stoping”
Derek Lenartowicz
Managing Director
12 September 2007
2007-09-07 JORC Resource.pdf (48 KB)
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