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Batch 5 Results from 2nd Drill programme at Fer...
Batch 5 Results from 2nd Drill programme at Fer....
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n 27 June 2014\n\n Sula Iron & Gold plc\n\n (\"Sula\" or the \"Company\")\n\n Batch 5 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 batch five samples include:\n\n BHDD131, 6m @ 57.99% Fe, 6-12m\n\n BHDD131, 6m @ 59.48% Fe, 38-44m\n\n BHDD131, 8m @ 55.75% Fe, 74-82m\n\n BHDD132, 12m @ 57.34% Fe, 6-18m\n\n BHDD135, 10m @ 59.90% Fe, 6-16m\n\n BHDD135, 10m @ 57.15% Fe, 30-40m\n\n- The oxide (DSO) targeted drilling, which commenced in early April 2014, has now been completed at 200m line intervals\n\n- Drilling programme now continues targeting the depth extent of the fresh magnetite BIF\n\nTo view a full version of the announcement, including figures and maps, please visit the Company's website at: www.sulairongold.com\n\nSula CEO Nick Warrell said, \"We are delighted that the results from\nbatch five continue to demonstrate that we have a well-defined iron oxide cap\n(DSO) present at Ferensola. I'm further pleased to report that the DSO drill\nprogramme has now completed and that the assay results reported by SRK UK are\nbeing received on a regular basis.\"\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 6 drill holes received from batch five\ncomprising 551.5m of drilling conducted between 9 May 2014 and 19 May 2014.\nDrilling on this 2nd drill programme targeting oxide material has now been\ncompleted with further results expected over the next 4 months.\n\nThe Company has focused drilling on investigating shallow, high grade iron\nmineralisation contained in the oxide and transitional saprolitic zones\noverlying the primary magnetite BIF. A summary of the mineralised\nintersections from batch 5 are shown in Table 1.\n\nPreliminary drilling has now commenced to test the depth extent of the fresh\nmagnetite...