Excellent news todayThis share seems to be totally off-radar as today's news has been met with not a single trade, let alone any comment.
https://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn_newsreleases.asp%3Fsymbol%3DV.AUR%26newsid%3D7809705
I'm a UK-based investor, where African Aura enjoys a slightly higherprofile amongst private investors, but is still not known by many. African Aura hold a range of exciting gold and iron ore prospects inLiberian and Cameroon, and have been making excellent progress inadvancing their key projects this year.
I'd recommend some research.
www.african-aura.com for a good overview of current projects.
This year, for example, African Aura are expecting:
* an intial resource estimate at the Nkout iron ore project
* a resource upgrade and scoping study at the New Liberty Gold Mine (due soon). The new Liberty gold deposit is estimated to currently contain a NI 43-101compliant measured and indicated resource of 1.38 million ounces ofgold at a grade of 3.18 g/t. Some upside is likely following the recent drilling campaign, and drilling is underway now to further define the new Latiff zone.
* confirmation of a mineral development agreement for the Putu iron ore project, and further drilling to grow the resource there beyond 2 billion tonnes. This is a JV with Severstal resources, of which AfricanAura hold a 38.5% interest in the project.
* drilling to get underway to define an initial resource at Weaju in Liberia
These are large projects with plenty of potential.
The videos on the website are well worth a look, here
https://www.african-aura.com/s/Presentations.asp
Today's news:
African Aura Mining Inc. - Airborne survey defines major iron ore target at Nkout in Cameroon
7/20/2010 7:00 AM - Canada NewsWire
TORONTO, Jul 20, 2010 (Canada NewsWire via COMTEX News Network) --
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES./
<< TSX-V: AUR AIM: AAAM >>
TORONTO,July 20 /CNW/ - African Aura Mining Inc. ("African Aura" or the"Company") the TSX-V (AUR) and AIM (AAAM) listed exploration toproduction company focused on iron ore and gold in sub-Saharan Africaannounces the results of the recently completed airborne geophysicalsurvey undertaken by New Resolution Geophysics across the Company'sNkout, Ngoa and Akom iron ore projects in southern Cameroon.
Highlights:
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- Nkout defined by a major geophysical anomaly covering at least 8km of
strike length
- Further 12km of targets generated around Nkout, considered to be
moderately magnetic
- Previous grab sampling at Nkout returned up to 68% Fe and averaged
55% Fe
- Phase one 4,200m 10 hole drilling programme to commence imminently
- Nkout deposit is strategically well located in an emerging iron ore
province:
- 2.5 billion tonne Mbalam iron ore deposit (located 150km to the
south east)
- Close to the proposed rail route to a port which will service
the Mbalam deposit
>>
AfricanAura has received the interpretation of the data from the recentlycompleted ground and 14,000 line km high resolution airbornegeophysical surveys (EM and gravity) covering the company's Nkout, Ngoaand Akom iron ore projects in Southern Cameroon. The data for Nkoutsuggests the presence of an east-west striking antiform with two limbsapproximately 100m thick and magnetic susceptibilities of around 2.0,which is considered consistent for a prospective banded iron formation.
Luis da Silva, President & CEO of African Aura commented:
"Untiltoday this asset was not valued in our portfolio. The results from theairborne geophysical survey at Nkout and our surrounding projects inSouthern Cameroon are nothing short of highly encouraging. They confirmour belief that we have discovered a potentially very significant ironore asset in a rapidly emerging iron ore province in west Africa. Nkoutis represented by an approximately 8km long priority geophysicalsignature, co-incident with a major hill. As previously announcedreconnaissance sampling by African Aura at Nkout, returned a maximumgrade of 68% Fe and an average of 57% Fe from 55 samples. A ten hole4,200m phase one drilling programme is planned to commence imminently,in order to test the highest priority signatures to refine thegeological model and progress the project towards a maiden ironresource still during 2010. We look forward to updating shareholders onprogress in due course."
African Aura's Iron Ore Portfolio in Cameroon:
AfricanAura has three principal iron ore projects in Cameroon, namely theNkout, Ngoa and Akom Hills and considers that their combined dimensionsrepresent a potentially significant iron ore asset. The sub-region ofsouthern Cameroon, Gabon and the Republic of Congo hosts a number ofsubstantial iron deposits, which are currently under exploration anddevelopment including the 2.5 Bt Mbalam deposit, located approximately150km southeast of Nkout, which is under development by SundanceResources Limited. Further information on African Aura's iron projectsin Cameroon is summarised below and is available atwww.african-aura.com/s/Nkout.asp.
Nkout Iron Ore Project, Southern Cameroon
TheNkout iron ore project is located on the 489km(2) Djoum licence whichis held by the Company's 100% owned subsidiary Caminex SARL. Theproject was identified through interpretation of historic airbornemagnetic and remote sensing data. Mapping undertaken to date has shownthat Nkout comprises a 12km long, iron rich (Itabirite / BIF)discontinuous ridge hosted in Archaean age rocks on the Congo Craton.Reconnaissance sampling at Nkout has returned assays with a maximumgrade of 68% Fe and an average of 57% Fe from 55 samples.
Oversight
Theexploration results and further planned work in Cameroon have beenreviewed and approved by Mark Biddulph. He holds a BSc Hons in Geology,and GIS from Rhodes University, and a GDE in Mining Engineering(Mineral Economics) from the University of Witwatersrand in SouthAfrica. Mark is a Professional Natural Scientist under the SouthAfrican Council for Natural Scientific Professions (SACNASP) and aQualified Person under National Instrument 43-101.
About African Aura Mining Inc.
AfricanAura is an established exploration and development company listed onthe TSX-V (AUR) and London's AIM (AAAM). The Company operates twodivisions, namely: iron ore and gold:
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- The iron ore division includes its 38.5% interest in the Putu iron
ore project in Liberia, which is moving through pre-feasibility
managed by joint venture partner Severstal Resources (the mining
division of Moscow listed OAO Severstal). The division also includes
a 100% interest in the Nkout iron ore project and surrounding iron
targets in Cameroon.
- The gold division includes the multi million ounce potential New
Liberty greenstone gold deposit, which is being advanced through a
bankable feasibility study, and the proximal Weaju, Gondoja and
Silver Hills projects, all in western Liberia.
>>