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SULTAN RESOURCES ASX ANNOUNCEMENT 27 October 2021 SEPTEMBER QUARTERLY REPORT For the period 1st July – 30th September 2021 - Sultan Resources ACN : 623 652 522 CORPORATE DETAILS ASX Code : SLZ DIRECTORS STEVE GROVES MANAGING DIRECTOR JEREMY KING CHAIRMAN DAVID LEES NON - EXECUTIVE DIRECTOR CONTACT Suite 2 , Level 1 , 1 Altona Street West Perth WA 6005 www.sultanresources.com.au Sultan Resources Limited ( " SLZ " or " the Company " ) is pleased to provide shareholders with the following update for the Company's activities for the quarter ended 30th September 2021 . LACHLAN FOLD BELT PROJECT During the quarter Sultan continued exploration across its suite of highly attractive porphyry and epithermal exploration targets in the Macquarie Arc volcanic rocks of the Lachlan Fold Belt , NSW . Big Hill - Drilling Sultan followed up the promising IP results by drilling 3 initial diamond drill holes at the Big Hill Porphyry Au - Cu prospect ( see ASX Announcement 18/05/2021 ) . These holes were the first 3 holes of a proposed 10 - hole program designed to assess the potential for the project to host porphyry - style Cu - Au mineralisation . The holes targeted the prominent IP chargeability anomaly ( see ASX Announcement 29/04/2021 ) that lies within a magnetic low and is coincident with significant soil geochemical anomalism and aim to provide important 3 - dimensional geological information . Logging and sampling of the 3 diamond drill holes was completed in early July and initial observations communicated to the market on the 7th of July . The holes all intersected subtle & intricate hydrothermal alteration assemblages including : Early magnetite , hematite dusting of feldspar ' reddening ' , late pyrite - sericite & calc silicate skarn , sulphide species with pyrite dominant over trace chalcopyrite & bornite , and vein types that contain rare magnetite , common epidote and are carbonate - rich / quartz poor with trace sulphides . These features are considered highly encouraging and are interpreted as marking the outer or distal parts of an alkalic Au - Cu porphyry system . The numerous , narrow disseminated pyrite zones in hole BHDD003 along with the zones present in holes BHDD001 & 002 help to adequately explain the upper parts of the IP chargeability high anomaly targeted on this section . The pyritic finely laminated siltstones and sandstones at the bottom of holes BHDD001 and 002 adequately explain the lower parts of the IP chargeability anomaly , hence the IP anomaly on this section is likely to be caused by two different pyrite sources .