14th Dec 2015 09:41
LONDON (Alliance News) - Sula Iron & Gold PLC on Monday said it has intersected high-grade gold mineralisation at all four of the drillholes undertaken at the Ferensola gold project in Sierra Leone.
The drill holes returned gold grades of up to 16.18 grams per tonne, though one of the holes was abandoned early due to drill-related issues. The average total weighted grade of the mineralisation found was 3.72 grams per tonne.
"I am delighted with the results of the first batch of samples from the extended scout drilling programme at our Ferensola gold project," said Chief Executive Nick Warrell.
"The results represent a significant milestone in our understanding of the geology and gold mineralisation of our gold asset and augurs well for future planned exploration of the deposit and the licence as a whole," Warrell added.
Shares in Sula were up 0.5% to 0.437 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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