African Mining Network

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AMN - SIERRA LEONE: Outstanding assay results for Ferensola

Sula Iron & Gold announces that further to the Batch 1 assay results announced in December last year, all remaining assay results from the recent drilling campaign on the company’s 100% owned, flagship Ferensola gold project have now been received.

Sula’s CEO, Nick Warrell says: “I am excited by the results of the second batch of drill core samples from the extended scout drilling program at Ferensola, together with the samples of ‘goldstones’ as they exceed my best case expectations. The highlights of the exploration program include gold mineralisation encountered in 70% of the drill holes, in an area measuring approximately 25% of the defined Exploration Target.

Total length-weighted grade equates to 4.48 grams/tonne gold at a thickness of 0.35 metres to 7.1 metres.

A multiplicity of mineralised shear zones is highly significant for potential open cast and selective underground mining. Goldstones and a quartz-pyrite sample with exceptionally high grade gold have been identified up to 2 km outside of the Exploration Target.

These samples are believed to be part of the same geological setting and derived from high grade basement structures. I believe our Ferensola gold project hosts a major deposit of significant tonnage together with high grade and we look forward to progressing the project further in due course towards a bankable feasibility stage”.

Sula Iron & Gold plc is a multi-commodity exploration company focused on West Africa. Its main objective is to explore and advance its 153 sqkm Ferensola project in northern Sierra Leone, which is highly prospective for coltan, gold and iron ore. In December 2014, the company delivered its JORC MRE for the BIF 1 iron ore project in which total resource of 514.5 million tonnes @ 31.8% Fe was identified and total oxide resource of 55.5 million tonnes @ 45.39% Fe.

News courtesy of International Mining