Business
Ferensola Gold Project - Initial IP Survey Results
Ferensola Gold Project - Initial IP Survey Results.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8090Z Sula Iron & Gold PLC 01 June 2016 \n\n1 June 2016\nSula Iron & Gold plc\n(\"Sula\" or the \"Company\")\n \nFerensola Gold Project - Initial IP Survey Results\nSula (AIM: SULA), a multi-commodity exploration company focused on Sierra Leone, is pleased to announce the initial results from the Induced Polarisation (\"IP\") survey that is currently being completed over a portion of the Company's 100% owned, flagship, Ferensola Gold Project. In summary, the ongoing IP survey being completed highlights the larger scale gold prospectivity in the group's Ferensola licence area, outside of the current Exploration Target, with results received to date verifying the mineralisation potential within areas previously sampled by Sula and which are further supported by the regional magnetic anomaly data previously used to define the mineralised fold belt. The IP survey will provide invaluable information to assist in the next phase of exploration, being a planned large scale drill programme in conjunction with an extension of the IP survey across the wider licence area.\n \nHighlights:\n\nOngoing IP survey highlights the larger scale potential of the Ferensola Gold Project outside of the Company's currently defined Exploration Target.\nIP signature over the Sanama Hill drill site confirmed with recorded IP chargeability values of between ~20 and ~30 millivolts per volt (\"mV/V\"). \nThe Sanama Hill IP signature corresponds with the known sulphide mineralisation from the Company's November 2015 drilling campaign.\nMultiple additional targets are now being identified with IP chargeability values of up to 3 times the values recorded over Sanama Hill.\nAn \"Eastern Target\", corresponding with the regional magnetic anomaly data and regional samples collected by Sula, shows IP chargeability values to date of up to ~100 mV/V with a potential strike length in excess of 4km.\nThe IP survey is being extended to incorporate the potential northeast extension of the \"Eastern Target\".\nA review of all existing geophysical data highlights multiple additional targets to be tested by future IP surveys. This includes a magnetic anomaly supported by regional sampling that displays a strike length of approximately 6km and is currently termed the \"Western Target\".\n\n \nSula completed a maiden dril...