Last checked at 2 Sep 2013 07:00
SULA IRON & GOLD PLC - Change of AdviserSULA IRON & GOLD PLC - Change of Adviser
PR Newswire
London, September 1
Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources 2 September 2013 Sula Iron & Gold plc (`Sula' or `the Company') Change of Adviser Sula Iron & Gold plc, a multi commodity exploration company focussed on SierraLeone, announces that Beaufort Securities Limited no longer acts as jointbroker to the Company. Northland Capital Partners Limited is now sole broker tothe Company. **ENDS** For further information please visit www.sulairongold.com or contact thefollowing: Gavin Burnell Sula Iron & Gold plc +44 (0) 20 7796 8800 James Caithie / Avi Cairn Financial Advisers LLP +44 (0) 20 7148 7900Robinson John Howes / Alice Lane Northland Capital Partners +44 (0) 20 7796 8800 Limited Felicity Edwards / St Brides Media and Finance +44 (0) 20 7236 1177Charlotte Heap Ltd Notes Sula Iron & Gold plc is a multi commodity exploration company focussed on WestAfrica. The Company's main objective is to explore and advance its keyExploration Licence EL54/2011, in Northern Sierra Leone, which is highlyprospective for iron and gold. Sula is currently focussed on delineating amaiden JORC compliant iron resource and prove up the gold mineralisation in2014, in order to maximise the Licence area's value potential. The 153 sq kmlicence area is contiguous to African Minerals' operational Tonkolili IronMine, which has a JORC compliant resource of 12.8 billion tonnes Fe. Exploration work at the project has confirmed the presence of Banded IronFormation (`BIF') at surface, which has a known strike length of 3.1km. The BIFappears to extend NE from the Tonkolili licence into Sula's licence area. InAugust 2013 Sula completed a 2,000m scout drilling programme over a 2.2kmsection of BIF, which confirmed the Licence area's prospectivity forconsistently high grade iron mineralisation with best results of 11.10m @54.41% Fe and 69.70m @ 37.28% Fe. An exploration target of 500 million tonnesat 30.4% iron for magnetite and 55% iron for hematite has been given byindependent exploration consultants SRK Exploration Services Ltd. Significant Greenstone Belt-style gold mineralisation has also been identifiedat various prospects within the licence area. Five target areas for hard rockgold mineralisation have been identified based on the location of historicdrill intercepts, the source areas for alluvial gold deposits, and the positionof major structures as defined by airborne magnetic data and drainageorientation.