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Sula Iron & Gold Plc
Summary
| Project: | Ferensola | |
|---|---|---|
| Deposit: | Sanama Hill, TZ4 | |
| Location: | Sierra Leone | |
| Commodities: | Gold | |
| Date: | 8/3/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-8-2017: Sula Iron & Gold Plc announces an Exploration/Drilling Update report for its Sanama Hill, TZ4 deposit at the Ferensola project. Drilling results incl. 1.6m @ 6.9g/t Au from 257.4m. 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 the Phase 3 drilling results from its recently completed 5,185 metre, 14 hole drill program across Sanama Hill. The initial results comprising 336 drill core samples from 3 of the 14 drillholes FDD025, FDD026 and FDD027, are all located on Sanama Hill. The three holes were designed to test the potential for downdip and southern extensions to the high-grade gold mineralisation encountered in FDD014 during the Phase 2 drilling campaign completed earlier in the year. The Company is pleased to report that the results from the first three holes have extended the continuity of gold mineralisation along strike and down dip. Samples from the remaining 11 drillholes are due to leave Freetown within the next week bound for the ALS assay testing laboratory in Ireland. In addition, Sula has completed a soil sampling programme across eight new targets identified during the Tect Geological Consulting ("Tect") structural study with 117 samples being collected for analysis. "These are very pleasing results in their own right, but more importantly, with every hole we drill our understanding of Sanama Hill's gold endowment improves significantly. These three holes have extended the continuity of gold mineralisation both along strike and most importantly down dip. With another 11 holes still to report, we hope this continuity will grow. Once all the data is available we will undertake a detailed geological assessment and interpretation of Sanama and the licence as a whole that will drive the next stage of the project's development. "The average of all our drilling to date has returned a minimum grade of 3.9 g/t over a true thickness of 2.0m with the potential for greater widths to be discovered. We look forward to reporting the results of the remaining 11 drill holes and the surface sampling programme in due course." | |
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