Shares of Australian mineral explorer Sultan Resources (ASX:SLZ) saw a 4.2% increase to A$0.025.

If these gains persist, it will be their best performance since August 25.

The company reported a priority lithium target area identified within the interpreted ‘Goldilocks’ Zone in their Ruddy Project, located in Canada.

Subsequently, a priority zone for further future work was confirmed and refined.

However, Sultan Resources (ASX:SLZ) stock still stands at a decline of 71.8% YTD, as of the last closing compared to a 0.38% increase in the benchmark S&P/ASX 200 index.

Sultan Resources is an Australian-based mineral exploration company.