MAIDEN RESOURCE AT NKOUT EXCEEDS 1 BILLION TONNES
African Aura Mining Inc. (“African Aura” or the “Company”), the TSX‑V (AUR) and AIM (AAAM) listed exploration and development company is pleased to announce an initial independent National Instrument 43-101 compliant Mineral Resource Estimate at its 100% owned Nkout iron ore project 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
Luis da Silva, Chief Executive of African Aura, commented:
“This is an excellent maiden resource achieved for the first 3km of the Nkout deposit and with the recently announced excellent metallurgical results, testifies to the world class potential of the project. Aggressive expansion of the resource base by drilling along strike both east and west of Nkout Centre is underway. The Nkout project is extremely well located, being 30km from the proposed iron ore rail line linking the 2.4Bt Mbalam project 160km to the east with a proposed deep water Atlantic port 310km to the west. The project will undoubtedly form a major part in the development of the regional iron ore infrastructure which has yet to be built. With the new resource at Nkout, the preliminary economic assessment for New Liberty and an updated resource statement on Putu pending, the value opportunity in African Aura is increasingly visible and the rationale for the proposed split into separate gold and iron companies even more compelling.”
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