Sultan Resources Ltd. (AU:SLZ) has released an update.
Sultan Resources Ltd has reported the completion of drilling activities at the Calesi prospect within the Kondinin-Lake Grace Project in Western Australia, without finding economically significant gold values. Despite identifying certain zones of higher conductance suggestive of sulfide accumulation, partner RTX has decided to withdraw from the project after the assay of drill samples confirmed only anomalous associations of other elements without significant gold. This marks the end of RTX’s potential farm-in arrangement, where they had the option to earn an 80% interest through exploration expenditures.
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