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Afferro sees ‘encouraging’ results at Cameroon iron-ore prospect

24th October 2012

  

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JOHANNESBURG (miningweekly.com) – Iron-ore exploration and development company Afferro Mining on Wednesday reported “encouraging” drilling results at its 70%-owned Ngoa prospect, in Cameroon.

The Aim- and TSX-listed company said the project, which lies within the Essong exploration permit, adjacent to the Nkout iron-ore project and 20 km from the proposed south Cameroon rail corridor, might become a satellite resource to support scalable mining of up to 35-million tons a year at Nkout.

CEO Luis da Silva noted that Ngoa had multiple intersections from surface above 40% iron and a number of down-hole length intersections in excess of 55% iron. “The recent preliminary economic assessment showed Nkout to be a robust project; additional high-grade resources at Ngoa will enhance the already attractive economics.

"Afferro continues to explore all four of its exploration permits in Cameroon. With these initial results for Ngoa, Afferro has defined mineralised banded iron formations in three of these permits. Further results from additional drilling at Nkout are pending,” he added.

Exploration at Ngoa was carried out in two phases, with the first phase comprising 10 diamond drill holes totalling over 520 m completed in December 2010. A second phase of 25 holes totalling 1 270 m was completed in June 2012.

Drilling was targeted on two parallel, high-intensity magnetic features striking north-east to south-west with about 1 km of strike extent and coincident topographic high.

Airborne magnetics were flown over the Ngoa area in the first quarter of 2010 and interpreted by Southern GeoScience Consultants of Perth, Western Australia.

 

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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