African Aura Inc Mining Explorations Operations in Cameroon, Africa
Yaounde, Cameroon Africa(Cameroon News) -
Afferro Mining has come into the news with yet another updates on its Nkout project stating that the resource has been upgraded by 36pct.
Afferro opined that it anticipates this year’s drilling campaign to move beyond 35,000 metres, with 8,500 metres finished to date. Afferro Mining (LON:AFF) on Thursday announced a 36 percent upgrade to its resource pool for the Nkout iron ore project in Cameroon just four months after it had announced its preliminary estimate.
The total resource increases to 1.42 billion tonnes at an average 33.6 percent iron ore, with more than half of it seen in a banded iron formation. While this is a major alteration, the latest update still only pertains to an area of 5.9 kilometres in a 20km anomaly.
The potential has already been estimated to comprise of an extra 600 million tonnes that is currently located below the optimised pit shell built by independent consultant SRK, which took account of the latest data. Afferro says it anticipates this year’s drilling campaign to cross 35,000 metres, with 8,500 metres finished to date.
The next stage of the programme will be directed towards oxidised material which has direct shipping potential. Results from one hole in the latest set of data showcases a section of just more than 44 metres graded 60.9 per cent iron ore, which makes it suitable for direct shipping.
Chief executive Luis da Silva said:”This is tremendous progress as the company targets an increased drilling rate to simultaneously target the potential direct shipping oxidised material as well as the banded iron formation. This new estimate and upgrade of mineral resource category from inferred to indicated comes after just three and half months of work since the maiden resource estimate was released and is a testament to the hard work of the team on the ground. Subsequent resource estimates later this year are expected to show an increase in the resource whilst identifying further oxidised material.”
