6th Mar 2013 12:15
SULA IRON & GOLD PLC - Directorate ChangeSULA IRON & GOLD PLC - Directorate Change
PR Newswire
London, March 6
Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources
6 March 2013 Sula Iron & Gold plc (`Sula' or `the Company') Directorate ChangeSula Iron & Gold plc, an iron ore and gold exploration company focussed onSierra Leone, announces that Chris Wilson, its non-executive technicaldirector, has today resigned from the Board for personal reasons.
The Board would like to thank him for his valued contribution and wishes himwell for the future.
The Board intends to appoint a replacement technical director as soon aspracticable.
**ENDS** For further information please visit www.sulairongold.com or contact thefollowing: Brian Moritz Sula Iron & Gold plc +44 (0) 7976994300 James Caithie / Avi Cairn Financial Advisers LLP +44 (0) 20 7148 7900Robinson John-Henry Wicks / Alice Northland Capital Partners +44 (0) 20 7796 8800Lane Limited Chris Rourke / Guy Wheatley Beaufort International +44 (0) 20 7382 8387 Associates LimitedFelicity Edwards/ Charlotte St Brides Media and Finance +44 (0) 20 7236 1177Heap
LtdNotes
Sula Iron & Gold plc is an iron ore and gold exploration company focussed onWest Africa. The Company's main objective is to explore and advance its keyExploration Licence EL54/2011, in Northern Sierra Leone, which boasts a dualcommodity focus and is highly prospective for iron and gold. The 153 sq kmlicence area is contiguous to African Minerals' operational Tonkolili ironmine, which has a JORC compliant resource of 12.8 billion tonnes.
Exploration work at the Project has confirmed the presence of banded ironformation (`BIF') at surface over a strike length of 3.1km and drill-ready. TheBIF extends NE from the Tonkolili mine into Sula's licence area. An explorationtarget of 500 million tonnes at 30.4% iron for magnetite and 55% iron forhematite has been given by independent mining consultants SRK ExplorationServices Ltd.
Significant greenstone-style gold mineralisation has also been identified atvarious prospects within the licence area. Greenstone-style deposits aretypically located on or proximal to regional scale, deep seated faults andlineaments. Artisanal miners have exploited placer gold within the Project areafor more than 60 years, and active workings are observed in at least fiveseparate areas.
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