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Sula Iron & Gold Plc
Summary
| Project: | Ferensola | |
|---|---|---|
| Deposit: | Sanama Hill, TZ4 | |
| Location: | Sierra Leone | |
| Commodities: | Gold | |
| Date: | 9/26/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-9-2017: Sula Iron & Gold Plc announces an Exploration/Drilling Update report for its Sanama Hill, TZ4 deposit at the Ferensola project. Drilling results incl. 1.2m @ 19.3g/t Au from 287m. Sula (AIM: SULA), the gold exploration company focused on Sierra | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Howard Baker (Internal) | |
| ABSTRACT: | Sula (AIM: SULA), the gold exploration company focused on Sierra Leone, is pleased to announce that the final assay results from the Phase 3 drill programme and "structural target" soil samples have been received for the 100% owned Ferensola Gold Project. Roger Murphy, Sula's CEO, commented:"These high-grade results once more provide strong evidence that in Ferensola we have a serious gold province. 19.3g/t further confirms that the Southern Target is a quality stand-alone gold target with more than one style of mineralisation observed. And again, we see evidence for high grade gold areas at Sanama Hill. Equally the soil sampling programme validates our structural work and suggests that there are several other Sanama Hill & Southern Targets to be found on our licence. "As planned, Sula will now switch from a high-cost drilling phase and enter a period of low-cost analysis and review where further interpretation work will be done on the large volume of data now accumulated as a result of the drilling. During this period, and on cessation of the current wet season, we will continue with ad hoc lower cost field exploration at Ferensola.In order to maximise the Company's exploration spend, and to further demonstrate the Board's commitment to the Company, the Board has agreed to defer all of its remuneration in cash for the foreseeable future. During this period of data review, the Board will also assess the various strategic opportunities that have been presented to the Company to determine the best path to advance Sula and to provide the best return we can achieve for shareholders." | |
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