Perth, April 16, 2008 AEST (ABN Newswire) - The Directors of Sultan Corporation Limited (SCC) are once again pleased to announce that further high grade intersections have been returned from holes SJF006 and SJF007.
Hole 007 is located approximately 50 metres below the previously identified near surface high grade zone. This indicates that the high grade zone may continue significantly deeper than previously assessed.
SJF005 did not return any significant intersections.
SJF005-007 are the latest holes to be assayed in Sultan's ongoing drilling programme at its wholly owned John Fardy zinc-copper-lead deposit near Crookwell in NSW.
Sultan has a currently known resource of 862,000 tonnes at 6.7% zinc equivalent.
Table 1 outlines Sultan's previously announced significant intersections in holes SJF001, SJF002 and SJF004.
Table 1 Previous High Grade Intersections
-----------------------------------------------------------------------Hole Distance Zn Cu Pb Ag Au Depth Depth (m) (%) (%) (%) (%) (%) from(m) to(m) -----------------------------------------------------------------------SJF001 High Grade 4 18.61 1.04 3.86 39.6 .72 50 54 Broader Intersection 9.5 8.67 0.65 1.75 21 50 59.5SJF002 High Grade 4.4 8.39 1.41 0.47 30 292.6 297 Broader Intersection 5.4 6.96 1.23 0.3 24 292.6 298SJF004 High Grade 4.0 23.19 1.38 0.16 12.6 280 284 Broader Intersection 7.0 15.02 1.57 0.15 13.4 278 285-----------------------------------------------------------------------
Overview of Drilling Program
To date, the drilling program has:
- completed nine drill holes (SJF001-009);
- SJF008-009 are at the laboratory and results are awaited; and
- to date, 2973 metres have been drilled.
These holes are part of an extended programme at John Fardy, Peelwood and Black Springs that will continue for several more weeks and will eventually total approximately 5000 metres.
Summary details for SJF001-007 are given in the table below:
----------------------------------------------------------------------------Hole Northing Easting Northing Easting Azimuth Inclination Total Depth (local) (local) (GDA94) (GDA94) (local) (Deg) (m)----------------------------------------------------------------------------SJF001 1520 1300 6223148 722976 90deg -70deg 100mSJF002 1460 1040 6223038 722735 92deg -72deg 323.8mSJF003 1460 1000 6223031 722696 92deg -72deg 438mSJF004 1460 1080 6223240 723043 91deg -72deg 321mSJF005 1460 1040 6223038 722735 95deg -75deg 452mSJF006 1480 1110 6223072 722799 92deg -72deg 300mSJF007 1480 1225 6223093 722911 91deg -71deg 204.8m----------------------------------------------------------------------------
The drilling programme continues.
The information in this report that relates to Exploration Results is based on information compiled by Mr. Kevin Alexander. Mr. Alexander is a full time employee of Sultan Corporation Limited. Mr. Alexander is a member of The Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. He has sufficient experience that is relevant to the style of mineralization under consideration and to the activity which he is undertaking to be qualified as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting on Exploration Results, Mineral resources and Ore Reserves". Mr. Alexander consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Contact
Derek Lenartowicz
Managing Director
Tel: +61-8-6365-4519
Fax: +61-8-9388-6040
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