Perth, June 16, 2008 (ABN Newswire) - Following recent exploration success at the John Fardy deposit, the directors of Sultan Corporation (ASX:SSC)(PINK:SSCSF) are pleased to announce the commencement of a bankable feasibility study (BFS). The BFS is aimed at evaluating all aspects of the project necessary to progress to mining.
The company has engaged Intermine Engineering Consultants to complete all design and engineering studies. Intermine Engineering Consultants will also manage the processes necessary to obtain regulatory approvals required to commence mining operations at John Fardy.
Due to the near surface nature of the ore body and associated simplicity of future operations it is anticipated that the BFS would conclude in the 1st quarter of 2008-09.
Preliminary engineering works and commercial assessment indicate that it is likely that John Fardy would progress to production given the current market conditions.
About Sultan Corporation Limited
Sultan Corporation Limited is an Australian base metals explorer and emerging zinc producer. Sultan’s primary objective is to deliver long-term shareholder value by rapidly becoming a mid-tier resource company. The company strives to achieve this through the discovery, acquisition and development of new economic mineral deposits.
Contact
Derek Lenartowicz Managing Director Tel: +61-8-6365-4519 Fax: +61-8-9388-6040
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