project in Cameroon
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE
TORONTO, July 27 /CNW/ - African Aura Mining Inc. ("African Aura" or the
"Company") the TSX-V (AUR) and AIM (AAAM) listed exploration to production
company with divisions focused on iron ore and gold in sub-Saharan Africa
announces that a first phase 4,200m initial resource definition drilling
programme commenced on 25th July 2010 at the Company's 100% owned Nkout iron
ore project in southern Cameroon.
- Initial 10 hole 4,200m resource drill programme underway at Nkout in
- Nkout is defined by an 8km long geophysical target that is co-incident
with a range of hills
- A further 12km of iron ore targets have been identified around Nkout
based on the recently completed geophysical survey
- Previous grab sampling at Nkout has returned up to 68% Fe and averaged
- Nkout deposit is strategically well located in an emerging iron ore
- 2.5 billion tonne Mbalam iron ore deposit (located 150km to the
- Close to the proposed rail route to a port which will service the
Luis da Silva, President & CEO of African Aura commented:
"Having recently announced the highly encouraging results from the airborne
geophysical survey at Nkout in southern Cameroon, it is very pleasing to
already be commencing the initial resource definition drill programme. The
current 10 hole programme is designed to refine the geological model and to
progress the project towards a maiden iron ore resource in 2010. Drilling will
then continue within the current approved budget up to a total of 8,000m as
part of the phase 2 programme. We look forward to updating shareholders on
progress in due course during 4Q 2010."
African Aura's Iron Ore Portfolio in Cameroon:
African Aura has three principal iron ore projects in Cameroon, namely the
Nkout, Ngoa and Akom Hills and considers that their combined dimensions
represent a potentially significant iron ore asset. The Nkout iron ore project
is located on the 489km(2) Djoum licence which is held by the Company's 100%
owned subsidiary Caminex SARL.
Nkout is defined by a major geophysical anomaly co-incident with a significant
range of hills with at least 8km of strike length. There are a further 12km of
targets existing around Nkout which are considered to be moderately magnetic.
Previous grab sampling at Nkout returned up to 68% Fe and averaged 55% Fe from
55 samples. A phase one 4,200m 10 hole resource definition drilling programme
commenced in July 2010.
The sub-region of southern Cameroon, Gabon and the Republic of Congo hosts a
number of substantial iron deposits, which are currently under exploration and
development including the 2.5 Bt Mbalam deposit, located approximately 150km
southeast of Nkout, which is under development by Sundance Resources Limited.
The proposed railroad from Mbalam to the proposed Atlantic port of Lolabe in
southern Cameroon, passes within 30km of the Company's Nkout project. Further
information on African Aura's iron ore projects in Cameroon is available at
The exploration results and further planned work in Cameroon have been reviewed
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 South Africa. Mark is a Professional Natural
Scientist under the South African Council for Natural Scientific Professions
(SACNASP) and a Qualified Person under National Instrument 43-101.
About African Aura Mining Inc.
African Aura is an established exploration and development company listed on
the TSX-V (AUR) and London's AIM (AAAM). The Company operates two divisions,
namely: iron ore and gold:
- 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
- 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.
In addition, the Company has a 30% interest in AIM-listed diamond producer
Stellar Diamonds Plc (AIM: STEL, www.stellar-diamonds.com).
The Company has a highly motivated and experienced team with a track record of
discovering mines and taking projects through development and into production.
As a pioneer, African Aura has attracted some excellent strategic partners and
shareholders, always with the objective of preserving or enhancing shareholder
This press release includes certain forward-looking statements. All statements,
other than statements of historical fact, included herein, including without
limitation, statements regarding the future plans and objectives of African
Aura, are forward-looking statements that involve various known and unknown
risks and uncertainties as well as other factors. Such forward-looking
statements are subject to a number of risks and uncertainties that may cause
actual results or events to differ materially from current expectations,
including delays in obtaining or failure to obtain required regulatory
approvals. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. Any forward-looking statements speak only
as of the date hereof and, except as may be required by applicable law, African
Aura disclaim any obligation to update or modify such forward-looking
statements, either as a result of new information, future events or for any
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
For further information: on the Company you are invited to visit its website at
www.african-aura.com, or SEDAR's website at www.sedar.com, or contact one of
the following: African Aura Mining Inc.: Luis da Silva, President & CEO, Tel:
+44 (0) 20 7257 2930; Evolution Securities Limited: Simon Edwards, Tim Redfern,
Neil Elliot, Tel: +44 (0) 20 7071 4300; Pelham Bell Pottinger: Charles Vivian,
James MacFarlane, Tel: +44 (0) 20 7861 3232
CO: African Aura Mining Inc.
NI: MNG FIELD
-0- Jul/27/2010 11:00 GMT
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