The drilling forms part of a 2014 exploration program, which aims to define a JORC Direct Shipping Ore (DSO) Iron Mineral Resource Estimate by the end of 2014.

The exploration follows nine hole 2,000m drill program completed in September 2013, which demonstrated consistently high grade iron, with highs of 14.59m @ 55.54% Fe and 29.7m at 52.25% Fe.

Sula CEO Nick Warrell said, "Defining a maiden resource will be a major milestone for the Company and I am confident that with a fully funded program, a proven exploration team and established infrastructure we have the necessary foundations in place to achieve this."

The first drill cores are expected to be sent for analysis in May 2014.