25th Apr 2014 10:11
LONDON (Alliance News) - Sula Iron and Gold PLC Friday said that several gold targets have been identified at its Ferensola Project in Sierra Leone, following a detailed geochemical and geophysical survey.
The Ferensola Project is located in the mineral-rich Sula-Kangari Greenstone Belt in Sierra Leone.
The Sierra Leone focused multi-commodity exploration company said that two new gold anomalous areas have been identified with gold values as high as 3,090 parts per billion.
"While two new areas have been identified, further quantitative work is required, either by pitting,
trenching or RAB drilling, before any core drilling is completed," said Chief Executive Nick Warrell in a statement.
The company had also commissioned a geochemical sampling programme and geophysical survey of the Lagunda to Yafarina region within the Ferensola exploration licence ,with the aim of
targeting potential source or "hardrock" gold mineralisation.
Sula Iron and Gold said analysis of over 6,000 samples, identified a northeast trending base metal anomaly through the middle of the Lagunda to Yafarina area.
Shares in the company fell 8.9% Friday morning to be trading at 2.87 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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