6th Nov 2015 09:09
LONDON (Alliance News) - Sula Iron & Gold PLC, a multi-commodity exploration company focused on Sierra Leone, on Friday said it has begun its extended drill programme at its Ferensola gold project.
"We are delighted to be resuming our exploration of our licence area on schedule and without any delays caused by the weather," Chief Executive Nick Warrell said in a statement.
"The company has continued to make good progress with its Ferensola gold project, and the extended drilling programme is an important factor in potentially enabling Sula to attract a Tier 1 gold producer," Warrell said.
The comprehensive drill programme is being overseen on-site by both SRK Consulting and Howard Baker, the company's technical non-executive director.
The drill programme will comprise a total of 1,500 metres, Sula said, a depth which the company thinks "should be sufficient to subsequently formally engage with a potentially interested Tier 1 international gold company".
The company said it has enough money to complete the extended drilling programme following its recent share placement, which raised GBP500,000 in October.
Shares in Sula were were down 2.1% at 0.416 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Sula Iron & Gold