Business
Batch 3&4 Results from 2nd Drill programme ...
Batch 3&4 Results from 2nd Drill programme ....
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n 23 June 2014\n\n Sula Iron & Gold plc\n\n (\"Sula\" or the \"Company\")\n\n Batch 3 and 4 Results from 2nd Drill programme at Ferensola\n\nSula Iron & Gold plc (\"Sula\" or the \"Company\"), the exploration and\ndevelopment company focused on iron ore in Sierra Leone, is pleased to provide\nan update on operations at its 100% owned Ferensola project (\"the project\").\nThe Company is continuing its programme of exploration for further potential\ndirect shipping ore (\"DSO\") zones and the depth extent of the fresh magnetite\nBanded Iron Formation (\"BIF\") target.\n\nHighlights\n\n- Significant results from batches three and four of samples include:\n\n - BHDD121, 16m @ 56.62% Fe, 14-30m\n\n - BHDD127, 16m @ 56.24% Fe, 16-32m\n\n - BHDD128, 14m @ 56.00% Fe, 12-26m\n\n - BHDD128, 12m @ 61.39% Fe, 32-44m\n\n - BHDD128, 18m @ 57.76% Fe, 60-78m\n\n - BHDD129, 12m @ 60.35% Fe, 10-22m\n\n- As of 17 June 2014, a total of 5,476.45m of drilling had been completed\n\n- Drilling programme to continue, targeting open areas of further potential DSO resource\n\nTo view a full version of the announcement, including figures and maps, please visit the Company's \nwebsite at: www.sulairongold.com\n\nSula CEO Nick Warrell said, \"We are delighted that the results from\nbatches three and four continue to demonstrate that we have a well-defined\niron oxide cap (DSO) present at Ferensola. Of particular note is diamond drill\nhole BHDD128 which intercepted 96m grading 45.9% Fe, which is significantly\nthicker than originally anticipated. We will continue to update our\nshareholders with further batch results over the coming weeks.\"\n\nSula commenced a resource drilling campaign at Ferensola during 2014 after a\nsuccessful reconnaissance drill programme was undertaken in May-July 2013. The\nresults reported here are from 10 drill holes received from batch three and\nfour comprising 698.2m of drilling conducted between 29 April 2014 and 10 May\n2014. Drilling remains on-going with further results expected over the next 6\nmonths.\n\nThe Company has focused drilling to investigate shallow, high grade iron\nmineralisation contained in the oxide and transitional saprolitic zones\noverlying the primary magnetite BIF. A summary of the mineralised\nintersections are shown in Table 1.\n\nPreliminary drilling is also being implemented to test the...