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Market:	ASX
Sector:	General Mining
EPIC:	BMB
Latest Price:	0.01 (16.67% )
52-week High:	0.04
52-week Low:	0.01
Market Cap:	24.48M

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Balamara Resources

Balamara Resources (ASX: BMB) is a base metals explorer focused on building a portfolio of quality resource assets in Central Europe.

Sultan Corporation completes review at Isabella prospect in New South Wales

Tuesday, November 24, 2009

Sultan Corporation (ASX: SSC) recently conducted a review of previous exploration activities undertaken at its wholly owned Exploration Licence No. 7002 named Isabella.

The review conducted on existing databases was primarily focussed on gold and has established that a number of significant near surface gold intersections occur at the Isabella prospect.

EL 7002 was granted to Sultan Corporation in January 2008 for an initial period of two years and is located in eastern New South Wales, approximately 60 km south of the city of Bathurst. It lies 30 km northeast of Sultan’s Peelwood North project, where it is currently developing a copper-zinc mine.

The licence area is part of the Lachlan Fold Belt and there are a wide variety of mineralization styles in the district.

The Isabella prospect is hosted by the Ordovician Age Triangle Formation and these rocks are principally volcanic and quartz sandstones, phyllite and metabasalt. Ten kilometers further to the west these rocks also host the Lucky Draw gold deposit which produced 200,000 ounces of gold from a little less than 1.5 million tonnes during the period 1988-1991.

There are known historical mineral occurrences for gold and base metals in the area occupied by EL 7002. Modern exploration began in the early 1970’s with the most significant historical exploration work being undertaken between May 1984 and May 1992 by Renison Limited under Exploration Licence Numbers 2232, 2535 and 3426.

The drilling and trenching programme outlined a zone of mineralization which is 1.7 kilometres long and up to 200 metres wide. Mineralization is hosted by a north trending unit of chloritised siltstone which is identified as part of the Ordovician Triangle Formation. Drilling was generally shallow with most holes drilled as fences of angled RC drilling and of the order of 30 metres.

There are a number of higher grade near surface intercepts within a broader zone of low grade mineralization.

The Renison drilling programme was conducted predominantly by RC and was inclined approximately perpendicular to regional stratigraphy. Mineralization is described as being associated with quartz veining however there is more than one orientation of quartz vein and the strike direction of the mineralization is not clearly defined.

Sultan is currently further compiling the drill data for 3D modelling to better understand the orientation of the mineralization. This will be followed by initial field investigations to further define targets for drilling.

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