Business
Operational Update
Operational Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8759H Sula Iron & Gold PLC 13 June 2017 \n\nSula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources\n13 June 2017\nSula Iron & Gold plc\n(\"Sula\" or the \"Company\")\nOperational Update: Phase 3 drilling commences; structural survey identifies new targets and assay results\nSula (AIM: SULA), the gold exploration company focused on Sierra Leone, is pleased to announce that:\n \n· phase 3 drill programme has commenced;\n· 17 new target zones for gold mineralisation have been identified through a structural geology review by a leading independent expert commissioned by Sula; and\n· the last of Batch Two assay results have been returned.\n \nPhase 3 Drill Programme\nFollowing an initial 1,500m programme carried out in 2015 and the recently completed 3,800m scout programme, Sula will focus Phase 3 drilling on areas of known high grade mineralisation. This drilling programme started on Monday 12 June 2017. The new 5,000m drilling contract with Equity Drilling (\"EQD\") is focusing primarily on the Sanama Hill and Southern Targets utilising drill rigs that are on site and which were used for the recently completed 3,800m programme. Sanama returned values of up to 15.9 g/t over 3.2m, within 3.65g/t over 21m in the most recent drill programme while the Southern Target showed 5.2g/t over 1.2m.\n \nAs previously announced, the programme will aim to extend and infill the areas of known high grade mineralisation and to improve the confidence in the geological interpretation and support a more accurate determination of the contained gold.\n \n17 New Targets from Detailed Structural Survey\nA detailed structural review of the licence has been completed by Tect Geological Consulting (\"Tect\") with the identification of a total of 19 target zones at Ferensola, including both Sanama Hill and the Southern Target. See Figure 1 below for detail demonstrating the range of identified targets. Tect have worked on projects in Sierra Leone and elsewhere in Africa with a similar structural setting to that observed at Ferensola.\n \nhttp://www.rns-pdf.londonstockexchange.com/rns/8759H_-2017-6-12.pdf\n \n\n \nFigure 1: Tect regional structural interpretation target definition\n \nAssay Resul...