6 June 2014
Sula Iron and Gold plc
("Sula" or the "Company")
Statement regarding Ebola Virus Disease in Sierra Leone
Sula 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
Sula Iron & Gold plc +44 (0) 20 7583 8304
Nick Warrell / Matt Wood
Cairn Financial Advisers LLP +44 (0) 20 7148 7900
James Caithie / Avi Robinson
Daniel Stewart & Company Plc +44 (0) 20 7776 6550
Martin Lampshire / David Hart
Yellow Jersey PR +44 (0)7768 537 739
Dominic Barretto / Kelsey Traynor
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
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.