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Sula Iron & Gold Plc
Summary
| Project: | Ferensola | |
|---|---|---|
| Deposit: | Ferensola | |
| Location: | Sierra Leone | |
| Commodities: | Gold | |
| Date: | 12/8/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-12-2016: Sula Iron & Gold Plc announces an Exploration/Drilling Update report for its Ferensola deposit at the Ferensola project. Re-sampling of historic core gives results incl. 0.7m @ 28.9g/t Au from 13.6m. Sula (AIM: SULA), the multi-commodity explor | |
| Resources: | (Resource, Total): 514.5Mt @ 31.8% Fe | |
| CP/QP: | [Overall Report]: Howard Baker (Internal) | |
| ABSTRACT: | Sula (AIM: SULA), the multi-commodity exploration company focused on Sierra Leone, is pleased to announce that additional samples taken from historic drill core have yielded further positive results, with one oxide sample returning an assay of 28.9g/t Au. In early November 2016, samples were collected from historic drill core remaining on site and which was drilled prior to Sula's ownership of the Ferensola project's licence. Whilst the quality of the samples collected was deemed poor, due to core box degradation over time, the samples were collected with the objective of assessing further zones of potential mineralisation and in order to extract the maximum amount of information from the historic core. As such, all visible fresh sulphide zones and potential oxidised mineralisation zones were sampled. In total, 25 samples were collected from historic drillholes which were drilled towards the northwest and which are now known to be sub-parallel to the actual dip of the mineralised shear zones identified by Sula. The sample results received serve to, further highlight the potential of the Ferensola Gold Project with increasing evidence of high grade near surface oxide mineralisation. All samples were analysed by way of fire assay at ALS Laboratories in Ireland. | |
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