Business
Extension to Magnetic Survey
Extension to Magnetic Survey.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n Sula Iron and Gold plc (\"Sula\" or the \"Company\") \n\n Extension to Magnetic Survey \n\nSula Iron and Gold plc, a multi-commodity exploration company focussed on\nSierra Leone, is pleased to announce that following a detailed review of the\ngeology and existing geophysics, a new ground-based magnetometer survey will be\ncompleted at its Ferensola Project in Sierra Leone (`Ferensola\" or the\n`Project') later this year.\n\nOverview\n\n * Geological interpretation and regional magnetic data suggest that there is\n potential for the banded iron formation (\"BIF\") to continue in a north\n easterly direction\n \n * A 20km2 region to the north east of the current drilling area will be\n surveyed using the same equipment and methodology as employed in the 2013\n survey programme\n \n * Field crews have recently commenced grid surveying and line cutting in\n preparation for the magnetometer survey later in the year\n \nSula CEO Nick Warrell said, \"The results of earlier geophysical programmes\nsuccessfully identified the BIF horizon, which we have just finished drilling\nwith good precision. I look forward to receiving the results of this new\ngeophysical programme towards the end of this calendar year. We anticipate that\nadditional targets will be identified which we will follow up on the ground\".\n\n2014 Geophysical Programme\n\nA total of 100km of lines will be surveyed and cut within a 20km2 area of the\nFerensola Licence with the magnetometer survey to commence during the dry\nseason later in the calendar year. It is anticipated that Mineral Exploration\nNetwork Ltd will complete the magnetometer survey, as they carried out the\nprevious survey and are familiar with the terrain in the area to be surveyed. A\nline spacing of 200m orientated northwest - southeast will be used, which is\nthe same orientation as the previous surveys, and is perpendicular to the\ninterpreted strike of geology.\n\nEnquires:\n\nSula Iron & Gold plc +44 (0) 20 7583 8304\n\nNick Warrell / Matt Wood\n\nwww.sulaironandgold.com\n\nCairn Financial Advisers LLP +44 (0) 20 7148 7900\n\nJames Caithie / Avi Robinson\n\nDaniel Stewart & Company Plc +44 (0) 20 7776 6550\n\nMartin Lampshire / David Hart\n\nYellow Jersey PR +44 (0)7768 537 739\n\nDominic Barretto / Kelsey Traynor\n\nNotes\n\nSula Iron & Gold plc is a multi-commodity exploration...