Sula Iron & Gold has completed separate drilling programmes on the two iron ore types found at the Ferensola Project in Sierra Leone. The work, covering 6,835 metres of diamond drilling, was done on time and under budget. In all it has drilled 73 holes to assess the potential that significant quantities of high-grade direct shipping ore exist at Ferensola. It also sunk three deeper holes to investigate the extent of the lower-grade but probably more widespread magnetite mineralisation.
Out of a total of 12 batches of samples, five have already been received and reported, with the final seven expected by the end of September. This will allow the group to compile a maiden JORC resource estimate.
Chief executive Nick Warrell said: “We are very pleased to report that this year’s major exploration drilling programme at Ferensola has now been completed.
“The team in Sierra Leone has done a tremendous job in completing this on time and under budget and we are very grateful for their tireless hard work. “As previously announced we anticipate receiving all analytical results by September and completing a maiden JORC compliant mineral resource estimate on both the DSO and magnetite iron by the end of the year.” The 153 square-kilometre Ferensola Project is in Sierra Leone’s Sula-Kamgari greenstone belt and is thought to be an extension to the giant Tonkolili deposit owned by African Minerals.
Friday July 11, 2014