News Column

SULA IRON & GOLD PLC - Ebola breakout

June 5, 2014

6 June 2014Sula Iron and Gold plc ("Sula" or the "Company") Statement regarding Ebola Virus Disease in Sierra LeoneSula Iron and Gold plc, a multi-commodity exploration company focused on Sierra Leone notes the recent press coverage regarding the increased number of cases of Ebola Virus Disease ("EVD") predominantly in the East of the country close to the Guinea border. The Company confirms that there have been no incidences of EVD among the workforce at its Ferensola Project and is not aware of any incidence of EVD in the surrounding region. The Company continues to monitor the situation carefully via the World Health Organisation and the Foreign & Commonwealth Office. The World Health Organisation does not recommend that any travel or trade restrictions be applied to Guinea, Liberia, or Sierra Leone based on the current information available regarding EVD. There are a number of large-scale miners in the region who have not evacuated operational staff because of EVD. Notably the Rio Tinto Group, developing the Simandou iron ore mine in Guinea, ArcelorMittal, mining in Liberia, AML, Koidu Holdings, Octavia and London Mining in Sierra Leone. Nick Warrell, CEO states: `'We are monitoring the EVD situation very closely and are ready to act should the current risk assessment warrant new action from our company." Enquires: Sula Iron & Gold plc +44 (0) 20 7583 8304 Nick Warrell / Matt Woodwww.sulairongold.comCairn Financial Advisers LLP +44 (0) 20 7148 7900 Nominated Adviser James Caithie / Avi RobinsonDaniel Stewart & Company Plc +44 (0) 20 7776 6550 Broker Martin Lampshire / David Hart Yellow Jersey PR +44 (0)7768 537 739 Dominic Barretto / Kelsey Traynor Notes: Sula Iron & Gold plc is a multi-commodity exploration company focussed on West Africa. The Company's main objective is to explore and advance its Ferensola Projects, in Northern Sierra Leone, that are highly prospective for iron and gold. Sula is currently focussed on delineating a maiden JORC compliant iron resource estimate and evaluating the gold prospectivity. The 153 sq. km licence area is contiguous to African Minerals' operational Tonkolili Iron Mine, which has a JORC compliant resource of 12.8 billion tonnes iron mineralisation. Exploration work at the project has confirmed the presence of Banded Iron Formation (`BIF') at surface, which has a known strike length of 3.1km. The BIF is proven to extend NE from the Tonkolili licence and into Sula's licence area. A 2,000m scout drilling programme conducted over a 2.2km section of BIF, confirmed the Licence area's prospectivity for consistently high grade iron mineralisation. An exploration target of 500 million tonnes at 30.4% iron for magnetite and 55% iron for hematite has been given by exploration consultants SRK Exploration Services Ltd. Significant Greenstone Belt-style gold mineralisation has also been identified at various prospects within the licence area. Five target areas for hard rock gold mineralisation have been identified based on the location of historic drill intercepts, the source areas for alluvial gold deposits, and the position of major structures as defined by airborne magnetic data and drainage orientation. The information in this release that relates to Exploration Results has been reviewed by Mr Andrew Dacey, Non-Executive Technical Director of Sula Iron and Gold plc. Mr Dacey is a Fellow of the Institute of Materials Minerals and Mining, a Member a Registered Professional Geologist with the Australian Institute of Geoscientists and a Competent Person as defined in the Australasian Code for Reporting of exploration results and Mineral Resources and Ore Reserves.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: PR Newswire (UK Disclosure)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters