31 July 2014
Sula Iron & Gold plc
("Sula" or the "Company")
Ebola Virus Disease Update
Sula Iron and Gold plc, a multi-commodity exploration company focussed on
Sierra Leone, recognises the heightened risk in connection with Ebola Virus
Disease ("EVD") in West Africa. The Board would like to assure shareholders
that, despite the increase in reported EVD cases, the Company's operations at
its Ferensola Project, in the Diang Chiefdom, Sierra Leone, have not been
affected.
Sula's drilling campaign for both the haematite and magnetite JORC Mineral
Resource Estimates was completed on 9 July 2014. All samples from both drill
programmes are now with ALS for analysis.
The samples requested by SRK UK for metallurgical test work, which are required
for the JORC compliant Mineral Resource Estimate, have been dispatched to SGS
Mineral Services UK Limited in the United Kingdom for analysis.
As previously announced, the Company anticipates receiving all analytical
results by September and aims to complete JORC compliant Mineral Resource
Estimates on both the DSO and magnetite iron by the end of the calendar year.
The Company's Ferensola project, and its Dalakuru base camp, will be closed in
August to coincide with the expected heavy rains. The project consequently is
on a care and maintenance status. Exploration is scheduled to recommence in
early September.
Enquires:
Sula Iron & Gold plc +44 (0) 20 7583 8304
Nick Warrell / Matt Wood
www.sulaironandgold.com
Cairn Financial Advisers LLP +44 (0) 20 7148 7900
James Caithie / Avi Robinson
Daniel Stewart & Company Plc +44 (0) 20 7776 6550
Martin Lampshire / David Hart
Yellow Jersey PR +44 (0)7768 537 739
Dominic Barretto / Kelsey Traynor
Notesto Editors:
Sula Iron & Gold plc is a multi-commodity exploration company focussed on West
Africa. The Company's main objective is to explore and advance its Ferensola
Projects, in Northern Sierra Leone, that are highly prospective for iron and
gold. Sula is currently focussed on delineating a maiden JORC compliant iron
resource estimate and evaluating the gold prospectivity. The 153 sq km licence
area is contiguous to African Minerals' operational Tonkolili Iron Mine, which
has a JORC compliant resource of 12.8 billion tonnes iron mineralisation.
Exploration work at the project has confirmed the presence of BIF at surface,
which has a known strike length of 3.1km. The BIF is proven to extend NE from
the Tonkolili licence and into Sula's licence area. A 2,000m scout drilling
programme conducted over a 2.2km section of BIF, confirmed the licence area's
prospectivity for high-grade iron mineralisation.
Significant Greenstone Belt-style gold mineralisation has also been identified
at various prospects within the licence area. Five target areas for hard rock
gold mineralisation have been identified based on the location of historic
drill intercepts, the source areas for alluvial gold deposits, and the position
of major structures as defined by airborne magnetic data and drainage
orientation.
The information in this release that relates to Exploration Results has been
reviewed by Mr Andrew Dacey, Non-Executive Technical Director of Sula Iron &
Gold plc. Mr Dacey is a Fellow of the Institute of Materials Minerals and
Mining, a Registered Professional Geologist with the Australian Institute of
Geoscientists and a Competent Person as defined in the Australasian Code for
Reporting of exploration results and Mineral Resources and Ore Reserves.