Quarterly Activity Report Issue 2
Welcome to Sula Iron and Gold plc
Sula Iron & Gold plc is an AIM-Listed multi-commodity exploration company focused on Sierra Leone exploring for iron ore, gold and coltan. Our current objective is to explore and advance our 153 sq. km Ferensola Project in Northern Sierra Leone, which is highly prospective for iron and gold. In December 2014 Sula declared a total oxidised resource of 55.5Mt at 45.39% Fe with a total resource of 514.5Mt Fe at 31.8% Fe. In addition to the above, SRK have identified an exploration target comprising an additional 100Mt to 250Mt, with a grade range of between 20% Fe and 35% Fe that lies below the optimised pit shell and have recommended a short drill programme of 6 holes at an average of 150m depth per hole which has the potential to add to resource accordingly. Further gold exploration programmes are currently being finalised on existing targets identified to date, and we have also recently commenced exploration for coltan in two areas of interest in the northern and the southern ends of the licence area.