Sula Iron & Gold Plc Unlocking Value Gold Exploration in Sierra Leone April 2017
Sula Ticking the boxes ühigh grade gold Exploration Target 1 1 üsignificant gold exploration potential over the remaining licence area üartisanals confirm gold presence üdeeply experienced management team with complimentary skills ümadini Minerals as technical and corporate consultants üthe right time in a recovering Sierra Leone üstrong community support ü2400m drill programme ongoing 1. An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. http://www.jorc.org/docs/jorc_code_2012.pdf 2
Key Capital Markets Data Market AIM EPIC SULA Share price 0.39p (28.03.17) Market capitalisation $10.8mn (28.03.17) Shares in issue 2.215 bn Nominated advisor Strand Hanson Broker VSA Capital Technical Advisors Madini Minerals Sula On the Road to Recovery Source: LSE Significant shareholders % Madini 13.7 Nick Warrell, COO 2.4 Roger Murphy, CEO 0.8 Howard Baker, NED Tech Dir 0.4 Matt Wood, CFO 0.3 Iain Macpherson, NED 1.6 Sula Iron & Gold Plc Blue Horizon (SL) Ltd 100% owned subsidiary Licence EL54/2011 (Ferensola Project) Granted 24 Aug 2011 Renewed 7 Nov 2016 3
Strong Board with Complimentary Skills Roger Murphy Chief Executive Officer o Almost 30 years of equity capital markets experience, focused entirely on mining sector, with Warburgs, Deutsche Bank, Canaccord, Rencap & Dundee Securities, where he was Head of London Office o Partner in Madini Minerals (Sula s largest shareholder) o Geologist by training with gold exploration experience in Africa Nick Warrell Chief Operating Officer o 25 years experience in Sierra Leone, with deep local relationships, Paramount Chief of area around Ferensola Gold Project o Career entrepreneur-miner with 30+ years experience of owning and running mining companies Matt Wood Finance Director o. Howard Baker Non-Executive Technical Director Iain Macpherson Non-Executive Director o Experienced Finance Director and NED of AIM Companies o Chartered accountant with broad City experience, including as a NOMAD with Beeson Gregory (which became Evolution Sec) o MD & co-founder of ONE Advisory Group, which provides financial, legal and company secretarial services to a range of AIM companies o Geologist with over 20 years industry experience including exploration geology, mining geology, resource geology and consulting for companies including Western Mining, Iluka, BHP Billiton & Rio Tinto o Former Principal Consultant (Resource Geology) and Practice Leader at SRK Consulting (UK) Ltd ( SRK ), which he left to join Sula o Mining Engineer over 30 years experience building and running mines across Africa and elsewhere o Strong capital markets experience as former CEO Elemental Minerals, COO Uramin, o Co-founder Madini, (Sula s largest shareholder), a group of similarly experienced mining professionals focusing on African near cash high margin mining projects 4
Licence Location TONKOLILI MARAMPA FERENSOLA Concession area outlined in black TONKOLILI FERENSOLA Geology of the Sula-Kangari Greenstone Belt Shandong Iron and Steel (12.8 billion tonne Tonkolili iron ore mine) Polo Resources Limited (Nimini-Komahun Gold Project) ACTIVE IN THE REGION INCLUDE 5
Ferensola Summary of Work Completed Maiden Exploration Target 1 defined by SRK Consulting (UK) Ltd 5-7Mt grading at 4 to 8g/t Au for 0.8 to 1.5Moz Au Exploration Target 1 based on a 2km portion of a mineralised fold belt in excess of 10km strike length and 5km width Mineralisation is dominantly hosted by NE-SW trending brecciated quartz-pyrite shear zones November 2015 drilling on Sanama Hill resulted in an average grade of 4.21g/t Au, with multiple overlapping high grade shears identified over a 480m strike length from within a portion of the Exploration Target Ongoing regional samples of oxidised sulphides and fresh quartz / pyrite show grades averaging 9g/t Au and up to 69.2g/t Au September 2016 - IP Resistivity data shows 8.5km of highly prospective drill ready targets believed to be derived from substantive metallic sulphides March 2017 2,400m drilling focused on Eastern Target ongoing. 1. An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. http://www.jorc.org/docs/jorc_code_2012.pdf 6
Prominent Exploration Targets View looking north showing the more prominent Eastern Anomaly TZ2 ridge when compared to Sanama Hill which hosts our Exploration Target Sanama Hill drill site (TZ0) Dalakuru Village & Sula Camp Eastern Target (TZ2) TZ4 7
Drilling the Eastern Target (TZ2) Sanama Hill Dalakuru Village & Sula Camp 8
High Grade Mineralisation Pyrite Association High grade assays returned from primary sulphides and the weathered derivatives: Artisanal Weathered Sulphides Massive Sulphide Folded Massive Sulphides 17 Oxide Samples with an average grade of 9.0g/t Au High grade fold hinge High grade massive sulphide grading ~10-20g/t Au flanked by sub-ordinate vein mineralisation grading 0.5 to 3g/t Au Average Grade 4.21g/t Au Primary Sulphides in Drill core 9
2016 Induced Polarisation / Resistivity Survey IP Survey identifies 8.5km across 6 target zones believed to be potentially mineralised sulphides Intense artisanal activity observed too 10
Eastern Target Gold on the Road and in the River Strong wide IP anomaly Grab samples of oxide ore collected on road crossing the Eastern Target assay at up to 4.8g/t Intense artisanal activity around Kuwait including thousands of artisanal pits Multiple high grade grab samples in river valley assay up to 69g/t 11
Intense Artisanal Activity. 12
and this is why 13
Favourable Geological Controls 14
Wrapping it all up The right geology plenty of gold in the system The right management team Attractive valuation Strong capital markets support Supportive government and local community 15
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