9th Mar 2016 17:17
LONDON (Alliance News) - Multi-commodity exploration company Sula Iron & Gold PLC said Wednesday it has collected additional samples of goldstone, sulphide stone and quartz-pyrite at the Ferensola gold project in Sierra Leone, as it takes steps towards defining further drill targets.
Sula said SRK Consulting (UK) Ltd had previously defined a gold exploration target area for the Ferensola project, and drilling has been undertaken over the area. However, Sula said it has commissioned SEMS Exploration Services Ltd to undertake a combined gamma-ray spectrometry and resistivity and induced polarisation survey to asses the licence-scale potential outside of the previously defined exploration target. It said this survey will commence in early April.
Sula said it has continued to locate additional goldstone, sulphide stone and quartz-pyrite stones from across the licence area since completing its regional sampling programme, and said it has identified new samples from the November 2015 drilling campaign, including in-situ oxide goldstone material that it said may represent new mineralised targets.
Shares in Sula closed down 4.8% at 0.200 pence on Wednesday.
By Hannah Boland; [email protected]; @Hannaheboland
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