15th Apr 2016 12:07
LONDON (Alliance News) - Sula Iron & Gold PLC on Friday said it has received assay results for the Ferensola gold project in Sierra Leone, with high mineralisation intersections confirmed.
Sula said new oxide zone drill sample results from Ferensola indicate the drilling it complete on the site in November 2015 intersected mineralisation in 80% of the drillholes completed, compared to 70% previously estimated.
Sula said the new sampling figures confirm the high-grade nature of mineralisation at the project and a further survey to test the potential of the area will commence soon.
"I am delighted with these results from the recent sampling campaign," said Sula Chief Executive Nick Warrell.
"The work completed to date continues to confirm my belief that our Ferensola Gold Project hosts a major deposit of significant tonnage and high grade and we look forward to progressing the project further in due course," he added.
Sula shares were up 18% to 0.24 pence on Friday afternoon.
By Sam Unsted; [email protected]; @SamUAtAlliance
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