Sultan Corporation (ASX: SSC) will shortly commence drilling at its 100% owned Elsinora prospect targeting gold and base metals up to one kilometre to the north east of historical workings. Drilling is planned to kick off in the first week of June 2011 at targets that have never been drilled before and the initial program will consist of nine reverse circulation holes for a total of 1800 metres. The prospect area is located about 80 kilometres south of Bathurst in New South Wales and straddles the boundary between Sultan’s tenement’s EL6767 and EL6082, 700 metres west of the main bitumen road between Tuena and Crookwell. Significantly, work previously conducted by Sultan has included geological mapping, stream sediment sampling and analysis of the regional geophysics indicating potential for McPhillamy’s style gold and base-metal mineralisation. McPhillamy’s deposit is located about 50km to the north of Sultan’s tenements and is a Joint Venture Project between Newmont (NYSE: NEM) and Alkane Resources (ASX: ALK), operated by Newmont. It has a stated resource of 3 million ounces of gold and 60,000 tonnes of copper. Sultan expects that this current round of drilling will take about two months to complete, including assaying and results.

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