Afferro MiningAs there are no posts, I thought I'd post a summary of current progress here.
Afferro mining was recently formed when African Aura Mining demerged its gold and iron ore assets.
Afferro have 2 key assets:
1 - Nkout (100% ownership), 1 billion tonne+ inferred:. the Nkout centre target that makes up approximately 3km of a regional magneticanomaly that extends for some 20km within the Djoum license area. See RNSs/website for further detail. 25,000m drilling campaign underway. Upgraded resource statement expected September 2011.
2 -Putu (38.5% ownership) 2.4 billion tonnes - aggressive drilling campaign underway to further upgrade from inferred to indicated resources and grow resource in 2011.
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1 -Nkout, Cameroon
1st Feb: RNS - MAIDEN RESOURCE AT NKOUT EXCEEDS 1 BILLION TONNES (excerpt)
African Aura Mining Inc. ("African Aura" or the "Company"), the TSX-V(AUR) and AIM (AAAM) listed exploration and development company ispleased to announce an initial independent National Instrument 43-101compliant Mineral Resource Estimate at its 100% owned Nkout iron oreproject in southern Cameroon.
· Maiden Inferred mineral resource estimate of 1.04 billion tonnes of iron ore at 34% Fe
· Management targeting 4 billion tonnes at Nkout and surrounding anomalies
· Estimate covers a 3km section of a 20km long magnetic anomaly
· Metallurgical test work on the magnetite BIF proves high grade concentrate
· Metallurgical test work on the oxidized BIF shows sinter fines potential
· Potential for direct shipping ore ("DSO") being investigated
· 2011 drilling campaign underway and expected to total 25,000m
...
The Nkout project is extremely well located, being 30km from theproposed iron ore rail line linking the 2.4Bt Mbalam project 160km tothe east with a proposed deep water Atlantic port 310km to the west. Theproject will undoubtedly form a major part in the development of theregional iron ore infrastructure which has yet to be built
5th May RNS: (excerpt)
Highlights:
· Further 4,248m drilled in Q1 2011 at Nkout Centre and Nkout East
· Hole NKDD012 at Nkout Centre intercepts 548.5m of banded iron formation
· Potential direct shipping ore identified in 3 additional holes over 1.5km of strike at Nkout Centre
· Reconnaissance drilling at Nkout East adds 2.4km of drilled strike length
· A minimum initial target set at 500Mt for Nkout East
· Revised Mineral Resource Estimate expected in September 2011.
Luis da Silva, Chief Executive of Afferro, commented:
"The work on the ground has continued unabated in parallel to therecent corporate restructuring. The total metres drilled sinceFebruary's 1Bt resource estimate have doubled and we intend addingfurther drill rigs to aggressively expand the work programme. TheCompany is employing a drilling strategy to add BIF resource, upgradethe resource category and identify zones of high grade ore whilststepping out either side of Nkout Centre giving us coverage of some8.5km of drilled continuous strike. The substantial upside is even moreevident than before."
RNS - 18th May
Afferro Mining Inc. ("Afferro" or the "Company"), formerly known asAfrican Aura Mining Inc., the TSX-V / AIM (AFF) listed exploration anddevelopment company with iron ore projects in Cameroon and Liberia, ispleased to announce a metallurgical test work update from its firstphase of drilling at its Nkout project in southern Cameroon.
Highlights:
· Test work conducted on 188kg composite sample of haematitic saprolite ore
· Sample achieved head grade of 43.6% for this surface ore
· Initial testing rendered a 65% Fe product
· Results demonstrate good potential for sinter fines product
· Minimal deleterious materials in the resulting product
· Lump product material potential to be tested from all material >55% Fe
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2 - Putu, Liberia
7th Feb '11: PUTU IRON ORE RESOURCE MORE THAN DOUBLES TO 2.4 BILLION TONNES
African Aura Mining Inc. ("African Aura" or the "Company"), the TSX-V(AUR) and AIM (AAAM) listed exploration and development company ispleased to announce an updated independent National Instrument 43-101compliant Mineral Resource Estimate at its 38.5% owned Putu iron oreproject in Liberia.
· Inferred resource increased to 2.4 billion tonnes of iron mineralisation at 34% Fe
· Test work on magnetite BIF indicates a high grade concentrate can be produced
· Potential for direct shipping ore exists to generate near term cash flow
· Aggressive drilling campaign underway and expected to total >60,000m
· Potential for a further 1 to 2.5Bt below current modelled optimised pit shell
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In addition, Afferro have further potential in Cameroon:
{from Afferro website)
- Ngoa Hill, located 3km to the south of Nkout on the adjacent 70% African Aura owned Essong licence; and
- Akom Hills, being three areas to the northwest of Nkout on the contiguous 100% owned Akonolinga licence.
Ngoa is approximately 2km long and stands some 100m higher than Nkout.Its flanks are strewn with a high proportion of enriched banded ironformation ("BIF") float with haematite ± magnetite contents visuallyestimated between 70% and 100%.
The Akom Hills prospects cover a discontinuous strike length ofapproximately 20km based on interpreted airborne geophysical data.Mapping of the prospects has identified three separate BIF occurrenceswith a combined strike length of approximately 8km. Samples werecollected over these occurrences including an outcrop of iron rich BIF.
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Note that initial drilling took place at Ngoa in December. No assays have yet been reported.