Sula Iron and Gold has started phase three drilling and identified 17 new target zones on the Ferensola licence in Sierra Leone.
The share price has fallen nearly one-fifth to 0.3p.
Ten out of the 14 drill holes so far have shown evidence of mineralisation. A new 5,000 metre contract will cover Sanama Hill and southern targets. There will be infill drilling around known high grade mineralisation.
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