African Aura Inc Mining Explorations Operations in Cameroon, Africa
Yaounde, Cameroon Africa(Cameroon News) -
AFFERRO MINING INC. has announced that there is confirmed presence of High Grade BIF Units at their iron ore mine Nkout East.
Afferro Mining Inc. (“Afferro” or the “Company”), the TSX-V / AIM (AFF) listed exploration and development company with iron ore projects in Cameroon and Liberia, recently announced a latest update on its Nkout project in southern Cameroon.
Highlights
•High grade intercepts creates scope for additional drilling to assess potential direct shipping ore (“DSO”)
•Two weathered banded iron formation (“BIF”) units well defined in 2.4km of strike
•500 million tonne exploration target earliet set at Nkout East
•Updated mineral resource statement for Nkout project anticipated to be released this month
A very pleased Luis da Silva, Chief Executive of Afferro, commented:
“These results are highly encouraging and it is exciting to note that Nkout East exhibits similar geological and mineralisation characteristics to the adjacent Nkout Centre anomaly. The project continues at pace having more than doubled drilling since the maiden resource statement in February with an additional four rigs expected within three months.”
Afferro has finished the first sanction of strategic reconnaissance shallow drilling (Phase 1) over the 2.4km Nkout East magnetic anomaly target area spanning within the premises of the Djoum licence in which the company owns full stakes. Nkout East assay results have been determined by the free and accredited OMAC laboratory in Ireland. Geological logging and assay results indicate the continuation of a BIF sequence that is in tandem with and indicating similar geological and mineralisation stipulations to the Nkout Centre anomaly that is aided by a CIM compliant 1 billion tonne inferred mineral resource.
As of now, over the drill targeted strike length of 2.4km, two overlapping and distinct units have been keyed in from 12 shallow diamond drill holes amounting 1,150m (see Table 2). Mineralised intersections are equal to 65% of the drilled depth. Each unit has an approximate length of 1,600m along strike with an initial interpreted true width of between 100 and 120m for each. Considering the present information of the Nkout Centre deposit, SRK Consulting (UK) Limited (SRK) assumes that a reasonable exploration target for the Nkout East anomaly to be to the tune of 500 million tonnes (“Mt”). A second phase drill programme has been envisaged to look into the continuity of the BIF at depth.
Afferro now expects an updated mineral resource estimate (“MRE”) for the Nkout Iron Ore Project in June 2011. It will comprise of a portion of the 500Mt target at Nkout East. An extra updated mineral resource estimate is anticipated in the fourth quarter of 2011 to include the overall target.
Assay Results
Afferro and SRK have confirmed the assay results secured from the Phase 1 drilling at Nkout East with the composite results that were also tabulated. Early results indicate the presence of higher grade intercepts in the surface oxidised cap which will require further targeted and closer spaced surface drilling to permit the potential of a DSO resource to be estimated. Overall, assays for Nkout East confirm a similar style of mineralisation to that determined at Nkout Centre.
About Afferro Mining Inc.
Afferro Mining is a reputed exploration and development company listed on the TSX-V (AFF) and London’s AIM (AFF). Afferro Mining’s portfolio comprises of full stake in the Nkout iron ore project (the “Nkout Project”), which has an approximate Inferred Mineral Resource of some 1.04 billion tonnes grading 34.2% Fe, 43.0% SiO2 and 2.9% AL2O3 and 0.05% P, and surrounding iron targets in Cameroon which is subject to a resource expansion drilling programme targeting 4Bt. Afferro Mining also has a 38.5% interest in the Putu iron ore project in Liberia (the “Putu Project”), which has an estimated Inferred Mineral Resource of 185 Mt of oxide material with a grade of 37.8% Fe, 17 Mt of haematite itabirite at 48.25% Fe, and 2,173 Mt of magnetite itabirite at 33.7% Fe.
