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High Grade Gold Intersected at Southern Target TZ4
High Grade Gold Intersected at Southern Target TZ4.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3463H Sula Iron & Gold PLC 07 June 2017 \n\n Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources\n \n7 June 2017\nSula Iron & Gold plc\n(\"Sula\" or the \"Company\")\n \nHigh grade gold intersected at Southern Target TZ4 - a new discovery area\n \nSula (AIM: SULA), the gold exploration company focused on Sierra Leone, is delighted to announce the first results from batch 2 of its recently completed 3,783m, 14 hole drill program across Sanama Hill (TZ0), Eastern Target (TZ2), Southern Target (TZ4) and the Kuwait artisanal anomaly on its Ferensola Gold Project. \n \nHighlights\n· 5.2g/t over 1.22m from drill hole FDD021, the first hole drilled into TZ4, the Southern Target;\n· The Southern Target is a new discovery area at Ferensola, drilled by Sula for the first time.\n \nThe Southern Target is adjacent to TZ2, the Eastern Target, and around 2km South from Sula's Sanama Hill, where assay results have already returned high-grade gold. The gold in FDD021 was recovered from a quartz pyrite shear zone, very strongly resembling the host for gold mineralisation previously found at Sanama Hill, where multiple such shears have been found. Additionally, logging shows that the gold-bearing shear on FDD021 dips at 38° to the WNW. This shallow dip angle could make the mineralisation more amenable to potential open pit mining in the future. \n \nRoger Murphy, CEO of Sula commented: \"The high-grade gold found in TZ4 is a significant result for us. With this hole, we have demonstrated that gold mineralisation is not restricted to Sanama Hill and it supports our belief, based on our extensive geophysical work, and the intense artisanal activity in numerous sites across the licence, that there are multiple gold deposits across our Ferensola licence area. Whilst recognising that FDD021 is the first result we have received from TZ4, it is worth noting that the Southern Target is much longer than Sanama (see figure 3), where we already have an Exploration Target of 0.8m oz - 1.5m oz. This further demonstrates our strong belief that Ferensola hosts a significantly larger gold system than the original Exploration Target.\"\n \nFigure 1 below shows the location of the Fe...