Sula Iron & Gold plc (AIM:SULA) Ferensola Gold – Drill Programme Completion

Sula (AIM: SULA), the gold exploration company focused on Sierra Leone, is pleased to announce the completion of the current diamond drilling campaign with a total of 14 drillholes for 3,788.5m from select locations across the Company’s 100% owned, flagship Ferensola Gold Project.


· 14 drillholes completed for a total of 3,788.5m against a planned 10 holes for 2,400m;

· The programme resulted in four drillholes across the Sanama Hill (TZ0) target, seven drillholes across the TZ2 (Eastern Target) IP anomaly target and two drillholes on the TZ4 IP anomaly target;

· An additional “step out” hole was completed that targeted the underlying geological formation at the Kuwait artisanal mining area that lies to the west of the TZ2 anomaly; and

· A second and final batch of samples will be dispatched from camp on or around the 10th May, 2017.

Roger Murphy, Sula’s CEO, commented:

“It is very pleasing to report not only the completion of this phase of drilling at Ferensola, but also to note that an additional 4 holes, representing almost 1,400m, were successfully completed against the original plan. This of course increases our understanding of this very interesting orebody and was possible because of the Equity Drilling deal structure and the ongoing analysis of the drilling by our technical experts that enabled siting of further holes. The Kuwait hole is particularly interesting as it targets an area that was not part of our original planning for this phase and may point to an entirely new target. We look forward to reporting assay values from samples already in the labs and those en route as they are received.”

In total, Sula completed 3,788.5m of diamond drilling from 14 drillholes across the Sanama Hill (TZ0), TZ2, TZ4 and Kuwait artisanal anomalies. The extra metres drilled were utilised to extend the depth of numerous drillholes and to add additional holes to the programme based on the progressive geological understanding of the project and underlying controls on mineralisation. This included the addition of the Kuwait hole due to a review of the geophysical data and proximity to the extensive artisanal workings.

Logging and sampling of the final drillholes is currently in progress with Sula anticipating the dispatch from site to ALS laboratories in Ireland later this week.

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