Sula has received the final positive assay results from the Ferensola project drilling programme targeting iron mineralisation.
The Ferensola project, located in the northern part of the Sula-Kangari Greenstone Belt in Sierra Leone, underwent a nine hole 2,000m drilling programme. The final three assays demonstrate high grade iron consistency.
The drill programme tested the strike continuity, thickness, and iron grade of a 2.2km section (Area 1) of a 3.1km banded iron formation (BIF), which is coincident with a strong linear magnetic anomaly, proven to extend from African Minerals 12.8Bt iron Tonkolili licence area.
Sula Iron & Gold, an AIM-listed an iron ore and gold exploration company focused on Sierra Leone, plans to conduct further infill drilling subject to funding requirements to delineate a JORC compliant iron ore resource in 2014 and a second phase programme to test direct shipping ore (DSO) potential.
“These final results further underpin Ferensola‘s prospectivity for iron, confirming a consistent high grade zone of iron mineralisation over a 2.2km strike,” says Gareth O’Donovan, Sula‘s non-executive technical director.
“With a further 900m of undrilled BIF strike extent in Area 1 and several untested anomalies offering further potential to further extend the known areas of mineralisation within the licence area, I believe we are well set to add value and delineate an economic JORC resource.
“With the full results in hand, we are now focused on reviewing and interpreting the geological data with the aim of refining our exploration model and subject to funding requirements conducting infill drilling for both BIF and DSO material in the near term and defining a maiden resource in 2014.”