Gold Project Update
11 Novembre 2009 - 8:01AM
UK Regulatory
TIDMAAAM
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES.
November 11, 2009
TSX-V: AUR
AIM: AAAM
DRILLING PROGRAMME FOR HIGH Grade WEAJU GOLD PROJECT in LIBERIA
November 11, 2009, African Aura Mining Inc. ("African Aura" or the
"Company") the TSX-V (AUR) and AIM (AAAM) listed exploration to
production company focused on gold and iron ore in sub-Saharan Africa
announces that it plans to undertake a 4,000m diamond drill programme
at its Weaju gold project in western Liberia to further expand and
define the resource on the Company's Bea Mountain mining licence.
Highlights:
* 4,000m drill programme at Weaju gold project to establish
independent resource
* Previous drilling includes 27.72 g/t over 6m, 19.63 g/t
over 6m and 3.06 g/t over 28m
* Weaju gold project has a length of over 1km and remains
open along strike
* Archaean gold deposit in close proximity to the New
Liberty gold project
* In house drill rig and crew to be mobilised from
operations in Cameroon
The Weaju deposit is a high grade gold deposit located 30km north
east of the Company's New Liberty deposit in western Liberia. New
Liberty hosts a 1.4 million ounce gold resource (NI 43-101 13.533Mt
measured and indicated resource at 3.18 g/t gold) and is presently
the subject of a 10,000m confirmation drill programme. At least five
zones have been defined from drilling at Weaju to date, with more
recent intersects including 27.72 g/t over 6m, 19.63 g/t over 6m and
3.06 g/t over 28m. The planned 4,000m systematic drilling programme
is due to commence in early 2010 and will be undertaken by the
Company's in house drilling crew and diamond core rig. The programme
is expected to take six months or less. Results from the programme
will be used to assist with the construction of a geological model
and the preparation of an initial independent resource estimate in
accordance with NI 43-101.
Luis da Silva, President & CEO of African Aura comments:
"Our immediate focus at present is to deliver on our gold strategy to
realise near term value through the development of our core gold
projects in Liberia. We have made significant progress on our New
Liberty gold project and we are now looking to expand our resource
base further on the Bea Mountain mining licence. The Weaju gold
project, potentially within trucking distance (within 30km) of New
Liberty, has demonstrated considerable potential from previous drill
campaigns undertaken between 2000-2006 and we are confident that it
will enhance our portfolio of gold assets as we look to define an
initial resource for the project. We are now executing an aggressive
exploration strategy to drill out this potentially significant
resource."
About the Weaju gold project, western Liberia
Weaju is a high grade shear zone hosted Archaean age greenstone gold
deposit which has been the focus of intermittent surface and
underground gold mining activity by artisanal workers, reportedly
over the last 30 to 40 years. The project is located 130 km north of
the capital city of Monrovia and 30 km north east of New Liberty,
where African Aura is presently undertaking a 10,000m confirmation
drill programme. New Liberty hosts a 1.4 million ounce gold resource
(NI 43-101 13.533Mt measured and indicated resource at 3.18 g/t).
Weaju is within the same 25-year renewable mining licence and on the
same Archaean greenstone gold belt trend as New Liberty.
Geologically, Weaju has higher grades but is more complex than New
Liberty, with free gold visible to the naked eye. It has a similar
style of mineralisation with gold hosted in sheared basic
meta-volcanic schist belt lithologies.
It is not widely recognised, but western Liberia has similar geology
to world class Archaean gold mining provinces including the Lake
Victoria goldfields of Tanzania, the goldfields of western
Australian, the gold belts of eastern Democratic Republic of Congo
and northern Ontario in Canada. African Aura has assembled a
strategic licence area within this emerging new gold district, which
includes the New Liberty and Weaju projects as well as multiple other
prospects.
Prior to drilling Weaju, the Company completed a soil geochemical and
geological mapping programme which demonstrated an initial strike
length for the gold mineralisation of 1.5 km in an east north-east
trend, open to the east and west. Trenching on the zone gave an
intersect of 5.1 g/t over 24m (WT-8) as previously reported.
Subsequent drilling to 100m depth has intersected five distinct
high-grade lenses to date, totalling at least 1,000m in strike
length. The lenses are typically 100-300m in length and dip at 60° to
70° to the north. The previously reported drill results are provided
in table 1 below,
Table 1. Drill results from the Weaju gold deposit, western Liberia
(better intersects highlighted in bold).
Hole ID From (m) To (m) Intersection (m) Gold (g/t) Zone
WD-1 & 0.00 4.00 4.00 4.13 Main
WD-1 & 12.00 24.00 12.00 40.20 Main
WD-1 48.00 50.00 2.00 3.47 Main
WD-2 18.00 30.00 12.00 3.75 Main
Including 22.00 26.00 4.00 7.79 Main
WD-3 NSR Main
WD-4 NSR Main
WD-5 & 14.00 22.00 8.00 31.20 Main
WD-5 34.54 40.00 5.45 9.69 Main
WD-6 NSR Main
WD-7 19.00 23.00 4.00 15.10 Main
WD-8 NSR Main
WD-9 6.00 8.00 2.00 3.53 Main
WD-9 26.00 40.00 14.00 5.71 Main
WD-10 & 20.00 22.00 2.00 2.82 Main
WD-10 34.00 36.00 2.00 2.92 Main
WD-11 NSR Main
WD-12 & 42.00 44.00 2.00 2.14 Main
WD-12 54.00 56.00 2.00 2.35 Main
WD-13 18.00 24.00 6.00 19.63 Adit
WD-14 44.00 50.25 6.25 3.68 Adit
WD-15 & 45.00 48.00 3.00 0.42 Ridge
WD-15 90.00 91.00 1.00 3.06 Ridge
WD-16 62.00 63.00 1.00 1.85 Ridge
WD-17 44.00 61.00 17.00 0.31 Adit
WD-18 50.00 59.00 9.00 0.69 Adit
Including 53.00 56.00 3.00 1.16 Adit
WD-19 35.00 51.00 16.00 3.63 Ridge
Including 43.00 51.00 8.00 6.16 Ridge
WD-20 23.00 51.00 28.00 3.06 Ridge
Including 41.00 51.00 10.00 7.63 Ridge
WD-21 Abandoned
WD-22 & 8.00 18.00 10.00 0.85 Adit
WD-22 28.00 38.00 10.00 1.85 Adit
Including 32.00 36.00 4.00 3.81 Adit
WD-23 28.00 58.00 30.00 1.30 Ridge
Including 28.00 36.00 8.00 3.48 Ridge
WD-24 & 35.00 38.00 3.00 3.36 Ridge
WD-24 42.00 47.00 5.00 2.79 Ridge
WD-25 & 11.00 17.00 6.00 3.92 Adit
WD-25 27.00 35.00 8.00 2.15 Adit
WD-26 13.00 21.00 8.00 1.32 Creek
WD-27 NSR Ridge
WD-28 & 31.00 33.00 2.00 1.04 Creek
WD-28 & 38.00 41.00 3.00 1.39 Creek
WD-28 47.00 53.00 6.00 27.72 Creek
WD-29 NSR Main
WD-30 13.00 15.00 2.00 1.68 Creek
WD-31 63.00 64.00 1.00 0.72 Main
WD-32 & 2.00 20.00 18.00 0.36 Creek
WD-32 & 43.00 44.00 1.00 1.95 Creek
WD-32 & 52.00 53.00 1.00 2.15 Creek
WD-33 NSR Creek
WD-34 7.00 9.00 2.00 1.23 Main
WD-35 & 8.00 10.00 2.00 1.63 Creek
WD-35 68.00 69.00 1.00 1.33 Creek
WD-36 20.00 30.00 10.00 1.09 Main
WD-37 32.00 48.00 16.00 0.99 Adit
WD-38 66.00 100.10 34.10 0.70 Ridge
Including 78.00 85.00 7.00 2.05 Ridge
WD-39 NSR Creek
WD-40 30.00 74.00 44.00 1.20 Ridge
Including 36.00 39.00 3.00 10.78 Ridge
WD-41 86.00 96.00 10.00 1.62 Main
Including 86.00 87.00 1.00 9.18 Main
WD-42 28.00 48.00 20.00 1.90 Adit
Including & 36.00 42.00 6.00 5.45 Adit
WD-42 68.00 71.00 3.00 1.18 Adit
WD-43 & 0.00 38.00 38.00 0.71 Adit
WD-43 18.00 28.00 10.00 1.84 Adit
WD-44 0.00 50.00 50.00 0.62 Adit
Including 0.00 12.00 12.00 1.27 Adit
Including 38.00 50.00 12.00 0.98 Adit
WD-45 0.00 42.00 42.00 1.60 Adit
Including 18.00 27.00 9.00 6.03 Adit
WD-46 NSR Macenta
WD-47 19.00 21.00 2.00 3.07 Macenta
WD-48 0.00 15.00 15.00 0.47 Macenta
Including 0.00 4.00 4.00 0.92 Macenta
Notes:
- Assay data is uncut and based on greater than 0.5g/t Au
- NSR = No Significant Results
About African Aura Mining Inc.
African Aura is an established African exploration and development
company listed on the TSX-V (AUR) and London's AIM (AAAM). African
Aura is focused on the development of world-class iron ore and gold
deposits in highly prospective, under explored countries of
sub-Saharan Africa. The Company has a highly motivated and
experienced team with a record of discovering mines and taking
projects through development and into production in Africa.
African Aura's assets include the New Liberty gold deposit and the
Putu iron ore project, both in Liberia. Putu is being explored and
operated by the Company's Joint Venture partner, Severstal Resources
(the mining division of OAO Severstal). Severstal Resources is one
of the largest mining companies in Russia with EBITDA in 2008 of
US$859 million. The Company also has a 59% interest in diamond
producer Stellar Diamonds Ltd. A pioneer in Africa, African Aura has
attracted some excellent strategic partners and shareholders always
with the objective of preserving or enhancing shareholder value. 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 7299 4212
Evolution Securities Limited
Simon Edwards / Chris Sim / Neil Elliot Tel: +44
(0) 20 7071 4300
Pelham Public Relations
Charles Vivian / James MacFarlane Tel: +44
(0) 20 7337 1500
Qualified Person
African Aura's Qualified Person responsible for preparing this
release is Dr Tom Elder, who holds a BSc and Doctorate in Geology
from the University of Durham in the UK, is a Fellow and former
Member of Council of the Institution of Mining and Metallurgy, and a
Fellow of the Geological Society.
Quality Control and Sample Preparation
African Aura has a rigorous Quality Control Program (QCP) inserting a
minimum 5% of standards, blanks and duplicates into the sample
stream. The Company employs independently owned and managed OMAC
Laboratories for all its assay requirements, including the
preparation of pulps to 90% -100 micron at their in-country
preparation facilities in Liberia, followed by XRF at their main
laboratory in Loughrea, Ireland.
OMAC is accredited to ISO 17025 by INAB (Irish National Accreditation
Board), which is a member of ILAC (International Laboratory
Accreditation Cooperation), and is a signatory to the ILAC Mutual
Recognition Arrangement. OMAC operates an internal QA/QC check assay
programme using in-house standards, reagent blanks and duplicates.
Forward-looking Statements
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 other
reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policiesof the TSX Venture Exchange)
accept responsibility for the adequacy or accuracy of this release.
Ends
=--END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Grafico Azioni African Aura (LSE:AAAM)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni African Aura (LSE:AAAM)
Storico
Da Lug 2023 a Lug 2024
