Sula Iron & Gold pleased with Ferensola assay results
Sierra Leone-focused multi-commodity exploration company Sula Iron & Gold announced on Thursday that additional samples taken from historic drill core have yielded further positive results, with one oxide sample returning an assay of 28.9g/t Au.
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The AIM-traded firm said the 28.9g/t Au assay was returned from an oxide sample within the historic drill hole SDD001 for the interval from 13.6m to 14.3m.
It also reported 1.64g/t Au, returned from an oxide sample within the historic drill hole SDD001 for the interval from 35.3m to 36.3m.
A historic oxide assay result of 1.72g/t Au over 6.45m from hole SDD013 was also confirmed through the re-sampling.
1.26g/t Au was returned from a fresh sulphide sample within the historic drill hole SDD004 for the interval from 108.3m to 109.3m.
Sula added that there was increased evidence of high grade near-surface oxide mineralisation.
It said that in early November, samples were collected from historic drill core remaining on site and which was drilled prior to Sula's ownership of the Ferensola project's licence.
Whilst the quality of the samples collected was deemed poor, due to core box degradation over time, the samples were collected with the objective of assessing further zones of potential mineralisation and in order to extract the maximum amount of information from the historic core.
As a result, all visible fresh sulphide zones and potential oxidised mineralisation zones were sampled.
In total, 25 samples were collected from historic drill holes which were drilled towards the northwest and which are now known to be sub-parallel to the actual dip of the mineralised shear zones identified by Sula, it said.
The sample results received serve to further highlight the potential of the Ferensola Gold Project, according to the board, with increasing evidence of high grade near surface oxide mineralisation.
All samples were analysed by way of fire assay at ALS Laboratories in Ireland.
“It is very pleasing that what was planned largely as a confirmatory exercise has yielded some exceptionally positive results pointing towards exciting gold grades within the project's weathered oxide zone,” said Sula CEO Roger Murphy.
“This represents an opportunity for an early start on a near surface deposit that will enhance the project's economics.
“We will re-examine a potential oxide exploration programme as the planned drilling programme, due to commence in the New Year, unfolds.”