Sula Iron & Gold confirms drill-rig arrival at Dalakuru

Sierra Leone-focused gold company Sula Iron & Gold said two diamond drill rigs arrived yesterday at its Dalakuru exploration camp, on the Ferensola project site.

The rigs were being prepared by contractor Equity Drilling Ltd so as to begin Sula's planned drill programme.

"We remain confident that the planned drill programme, originally envisaged to be 2400m, will be completed expeditiously," said Sula in a statement.

It noted that Equity Drilling was taking a significant portion of its payment for the drill contract in the form of new company shares, with an agreed floor price of 0.35p each.

Sula anticipated it would be able to drill more than 2400m, potentially enabling a larger JORC Exploration Target to be identified.

"Sula's geologists have planned additional holes to capitalise on this opportunity," it said.

At 12:01 GMT, shares in AIM-listed Sula were flat at 0.52p each.