AAAM African Aura

 

TIDMAAAM 
 
RNS Number : 6479H 
African Aura Mining Inc. 
25 February 2010 
 

 
February 25, 2010 
 
TSX-V:  AUR 
AIM:       AAAM 
                            African Aura Mining Inc. 
 
           AIRBORNE GEOPHYSICAL SURVEY OF CAMEROON IRON ORE PROJECTS 
 
February 25, 2010, 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 the commissioning of an 
airborne geophysical survey across the Company's Nkout, Ngoa and Akon iron ore 
projects in southern Cameroon. 
 
Highlights: 
 
·     Airborne geophysical survey to define priority targets across three iron 
ore projects and selected gold projects 
·     Projects strategically well located within a major emerging iron ore 
province 
·     Projects situated close to: 
o  2.5 billion tonne Mbalam iron ore deposit (located 150km to the south east) 
o  Proposed rail route and port to service Mbalam deposit 
·     Previous reconnaissance  sampling returned encouraging iron ore grades: 
o  Nkout project: up to 68% Fe and averaging 55% Fe 
o  Ngoa project: up to 69% Fe averaging 62% Fe 
o  Akon project: up to 65% Fe averaging 54% Fe 
 
African Aura has signed a contract with New Resolution Geophysics of South 
Africa to undertake a 14,000 line km airborne geophysical survey 
(electromagnetic and gravity) in Southern Cameroon. The survey is expected to 
commence on 26 February 2010 and will cover the Company's three iron ore 
projects (as well as gold projects at Ntem and Batouri), with lines typically 
being flown at 100m spacing. 
 
Luis da Silva, President  & CEO of African Aura commented: 
 
"With the advantage of being an early entrant into Cameroon, African Aura has 
assembled an excellent portfolio of iron ore projects in a globally significant 
emerging iron ore province. The projects are strategically well located situated 
close to the proposed rail route between the 2.5 Bt Mbalam iron ore deposit, 
being developed by ASX-listed Sundance Resources to the east, and the proposed 
deep water port at Kribi on the Atlantic coast. During 2008 and 2009, African 
Aura undertook first pass reconnaissance sampling and mapping across its iron 
ore projects, which yielded encouraging iron ore grades at surface. The newly 
commissioned airborne geophysical survey will prioritise the targets for a drill 
programme planned to commence later in 2010 following interpretation of the 
survey data." 
 
African Aura's Iron Ore Portfolio in Cameroon: 
 
African Aura has three principal early stage iron ore projects in Cameroon, 
namely Nkout, the adjacent Ngoa and Akon Hills. The Company considers that when 
taken individually their dimensions represent potentially significant iron ore 
targets. 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. Further information on African Aura's iron projects in 
Cameroon is summarised below and is available at 
www.african-aura.com/s/Nkout.asp. 
 
Nkout Iron Ore Project, Southern Cameroon 
 
The Nkout iron ore project is located on the 489 km2 Djoum licence which is held 
by the Company's 100% owned subsidiary Caminex SARL. The project was identified 
through interpretation of historic airborne magnetic and remote sensing data. 
Mapping undertaken to date has shown that Nkout comprises a 12km long, iron rich 
(Itabirite / BIF) discontinuous ridge hosted in Archaean age rocks in the Congo 
Craton. Reconnaissance sampling at Nkout has returned assays with a maximum 
grade of 68% Fe and an average of 57% Fe from 55 samples. 
 
Table 1. Previous assay results from reconnaissance samples taken from the Nkout 
project 
 
+----------------+--------+----------------+----------------+ 
| Number of      |  % Fe  | Main           | Rock type      | 
| samples        |        | component(s)   |                | 
+----------------+--------+----------------+----------------+ 
|      39        | 54-68  | Fe2O3          | Haematite/     | 
|                |        |                | magnetite      | 
+----------------+--------+----------------+----------------+ 
|      11        | 37-43  | Fe2O3 + SiO2   | BIF            | 
+----------------+--------+----------------+----------------+ 
|       5        |  <10%  | SiO2           | Granite-gneiss | 
+----------------+--------+----------------+----------------+ 
 
Ngoa Iron Ore Project, Southern Cameroon 
 
The Ngoa iron ore project is located 2km south of Nkout on the adjacent 991 km2 
Essong licence which is held by the Company's 70% owned subsidiary Ridgeway 
Energy SARL. The project was identified through interpretation of historic 
airborne magnetic and remote sensing data which shows an intense magnetic dipole 
coincident with a hill that rises to 300m above the regional landscape, with 
flanks that are strewn with a high proportion of enriched Itabirite / BIF float. 
Mapping undertaken to date has shown that Ngoa comprises a 2km long, iron rich 
hill (Itabirite / Banded Iron Formation) hosted in Archaean age rocks. 
Reconnaissance sampling at Ngoa has returned assays with a maximum grade of 69% 
Fe and an average of 62% Fe from 23 samples. 
 
Table 2. Previous assay results from reconnaissance samples taken from the Ngoa 
Hill project 
 
+----------------+--------+----------------+-----------------+ 
| Number of      |  % Fe  | Main           | Rock type       | 
| samples        |        | component(s)   |                 | 
+----------------+--------+----------------+-----------------+ 
|      20        | 57-69  | Fe2O3          | Enriched        | 
|                |        |                | Itabirite       | 
+----------------+--------+----------------+-----------------+ 
|       3        | 37-46  | Fe2O3 + SiO2   | Itabirite / BIF | 
+----------------+--------+----------------+-----------------+ 
 
Akon Iron Ore Project, Southern Cameroon 
 
The Akon iron ore project is located 85km northwest of Nkout, next to the main 
Sangmelima - Djoum road, on the 489 km2 Akonolinga licence which is held by the 
Company's 100% owned subsidiary Caminex SARL. The project was identified through 
interpretation of historic airborne magnetic and remote sensing data which shows 
a cluster of airborne geophysical dipoles coincident with areas of higher 
ground, along a discontinuous strike length of approximately 20km. Mapping 
undertaken to date has shown that Akon comprises three separate BIF occurrences, 
Nkol Mendoua, Mezesse and Mekomo, each approximately 1-2km strike length located 
within 4km of each other, with a combined strike length of approximately 4km. 
Reconnaissance sampling at Akon has returned assays with a maximum grade of 67% 
Fe and an average of 57% Fe from 7 samples. 
 
Table 3. Previous assay results from reconnaissance samples taken from Akon 
Hills area 
 
+----------------+--------+----------------+----------------+ 
| Number of      |  % Fe  | Main           | Rock type      | 
| samples        |        | component(s)   |                | 
+----------------+--------+----------------+----------------+ 
|       6        | 51-67  | Fe2O3          | Enriched       | 
|                |        |                | Itabirite      | 
+----------------+--------+----------------+----------------+ 
|       1        |  31    | Fe2O3 + SiO2   | Itabirite /    | 
|                |        |                | BIF            | 
+----------------+--------+----------------+----------------+ 
 
Oversight 
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 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 gold and iron ore 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).  The Company also has a 32% interest in diamond producer Stellar 
Diamonds plc (AIM: STEL). 
 
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: 
 
ENQUIRIES: 
 
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 Bell Pottinger 
Charles Vivian / James MacFarlane                           Tel:  +44 (0) 20 
7337 1500 
 
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 policies of the TSX Venture Exchange) accept 
          responsibility for the adequacy or accuracy of this release. 
 
Ends 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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