Sula targets ready for follow-up exploration

Sula Iron & Gold, an iron ore and gold exploration company focussed on Sierra Leone, has reported that five target areas for hard rock gold mineralisation have now been confirmed for follow-up exploration at Sula's wholly owned 153 sq km Blue Horizon iron ore and gold exploration licence in Sierra Leone.

Sula Iron & Gold, an iron ore and gold exploration company focussed on Sierra Leone, has reported that five target areas for hard rock gold mineralisation have now been confirmed for follow-up exploration at Sula's wholly owned 153 sq km Blue Horizon iron ore and gold exploration licence in Sierra Leone.

The five target areas appear to host source areas of placer gold, with historic diamond drilling intercepts including both 8.72m at 10.46g per tonne gold and 1.55m at 11.68g per tonne gold.

Sula's Non-Executive Technical Director, Chris Wilson, said: "We are delighted that reconnaissance work has identified five highly prospective exploration targets that appear to host the source areas of placer gold within the licence area. The potential presence of these gold sources confirms our belief that the licence is highly prospective for gold.

"This marks another step in our efforts to establish a leading dual-commodity iron ore and gold exploration company. With defined exploration programmes in place to prove up the gold potential, and work on-going on our iron ore prospects, we are confident that our licence offers investors significant upside potential."

The share price rose 7.14% to 5.62p by 14:00 on Monday.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020
The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020