AfriOre Positive Akanani Platinum Project Results
28 Giugno 2006 - 9:00AM
UK Regulatory
AfriOre Announces Positive Results for Initial Metallurgical Testwork
from the Akanani Platinum Project
TSX/AIM:AFO
ROAD TOWN, TORTOLA, British Virgin Islands, June 28 /CNW/ - (TSX/AIM:AFO)
- AfriOre Limited ("AfriOre" or the "Company") is pleased to announce positive
results for initial metallurgical testwork on the Akanani Platinum Project
("Akanani" or the "Project"), located in South Africa's Bushveld Complex.
Laboratory flotation tests on diamond drill core samples achieved platinum
group metal recoveries of 80% into concentrates of suitable quality for
smelting.
Results from an initial program of metallurgical testwork on drill core
samples from Akanani have been released by Mintek, an internationally
recognized research and development organization based in Johannesburg, South
Africa and independent of AfriOre, which specializes in the field of mineral
processing. This initial metallurgical testwork forms part of AfriOre's
preliminary program of metallurgical and mineralogical investigation of
samples collected from drill hole intercepts of the P2 mineralized zone within
the Southern Priority Area ("SPA") at Akanani.
Four drill holes, ZF1, ZF4, ZF6 and ZF11, broadly representative of
mineralization types encountered by AfriOre's exploration of the SPA, were
selected for metallurgical testwork. Composite samples were prepared to
represent the P2 mineralized zone in each hole, as well as a selected higher
grade interval from within the P2 zone in three of the four holes, namely ZF4,
ZF6 and ZF11. The component material used for the composite metallurgical
samples comprised the residual crushed drill core after splitting out a
portion for standard assay of each drill core evaluation sample. This crushing
was carried out by Set Point Technology's sample preparation facility in
Mokopane, South Africa. The mass contribution of each evaluation sample to the
metallurgical composite sample was weighted using "mass factors" determined
from the sample length and specific gravity of the evaluation sample.
Mintek conducted initial testwork using a flotation procedure commonly
used for the processing of platinum ores, involving a two-stage mill and float
sequence ("MF2 float"). Samples were initially milled to approximately 50%
passing 74 microns and a concentrate was floated, cleaned and re-cleaned.
Tailings were subsequently milled to greater than 90% passing 74 microns and
the flotation procedure repeated. Copper sulphate was added as an activator
and a polysaccharide-based reagent was added as a depressant for gangue
minerals. Subsequent to the first round of results, the flotation test
procedure was modified for three of the samples, with the object of enhancing
concentrate metal grades. The modified procedure involved an increase in the
quantities of gangue depressant, as well as additional cleaning of the primary
cleaner tailings.
Plots of concentrate grade vs. recovery for the test data show that the
standard MF2 float achieved 80% recoveries of platinum, palladium, and gold
("3E") at concentrate grades in the range 50 to 80 g/t 3E, whereas the
modified procedure achieved 80% recoveries of 3E at enhanced concentrate
grades of 75 to 110g/t 3E. The modified procedure therefore achieved a
significantly higher concentrate grade without loss of recovery of 3E. This
level of recovery compares well with that of platinum group metal ("PGM")
recoveries from existing operations in Bushveld Complex Merensky and UG2 ores,
of 80 to 85% and 75 to 80%, respectively. Future optimization testwork will
seek to achieve further improvements in the grade of PGMs in the concentrates.
With respect to base metals, Mintek results indicate nickel ("Ni") and
copper ("Cu") recoveries of approximately 63% and 85%, respectively, at a
combined concentrate grade of 7 to 10% Ni+Cu and 10 to 15% sulphur. Similar to
many PGM ores from the Bushveld Complex, Akanani mineralization contains
sulphide Ni minerals that respond to flotation and a smaller component of Ni
silicate minerals that do not respond to flotation. If Ni recovery is
expressed in terms of acid soluble "sulphide Ni" headgrade rather than "total
Ni" headgrade, then it is expected that the Ni recovery will increase. Future
metallurgical testwork will include acid soluble Ni determinations to confirm
Ni recovery on an acid soluble Ni basis, as well as determination of rhodium
recovery.
The objective of this first phase of metallurgical testwork is to obtain
an indication of the variability in metallurgical response for mineralized
samples collected across the SPA at Akanani. However, the scope of this work
is limited by the small quantities of material available from exploration
samples for metallurgical purposes, and a full optimization of the flotation
conditions will only be possible in the second phase of testwork, where full
drill core from deflections drilled for this purpose will be utilized for
advanced metallurgical testwork. The drilling of metallurgical samples for
this second phase program is well advanced and results are expected by
September 2006.
Stuart Comline, Chairman of AfriOre states "we are very encouraged by the
results of the preliminary metallurgical testwork. The work at Mintek has
shown that PGM flotation recoveries for the initial four Akanani drill holes
are broadly in line with those obtained from other Bushveld ores and has
confirmed that the resulting Akanani concentrates are suitable for treatment
in a traditional PGM matte smelter."
About AfriOre Limited
AfriOre is a TSX- and AIM-listed company focused on its 74%-owned, 4,095
ha Akanani Platinum Project, located on the Northern Limb of South Africa's
Bushveld Complex. AfriOre's Exploration and Management Team has extensive
experience in platinum projects in South Africa, where the Company maintains
aggressive exploration and acquisition programs. AfriOre's Management has a
successful history of creating shareholder value through the exploration and
advancement of projects.
Metallurgical testwork was carried out by Mintek in Johannesburg under
the supervision of Dr. M. Bryson (Ph.D. (Chem.)), a member of the South
African Institute of Mining and Metallurgy, and an employee of Mintek.
Mr. R.M. Whyte (C.Eng. M.I.Chem.E.), a Fellow of the South African Institute
of Mining and Metallurgy and an independent metallurgical consultant to
AfriOre, has verified the data disclosed and is responsible for the technical
material in this release.
An independent technical report entitled "AfriOre Limited: Akanani
Platinum Project, Limpopo Province, South Africa, Project No. J883" and dated
May 29, 2006 has been filed on SEDAR and may be accessed at www.sedar.com. The
technical report was prepared by Mr. J.C. Witley (B.Sc. Hons., Mining
Geology), a registered Professional Natural Scientist with the South African
Council for Natural Scientific Professions (SACNASP) and an employee of
Snowden Mining Industry Consultants.
AfriOre has a treasury of approximately CDN$ 22.4M. The Company has
50,783,368 shares outstanding and 57,098,402 shares fully diluted. For
additional information
Forward Looking Statements
-------------------------------------------------------------------------
This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will
or may occur in the future (including, without limitation, statements
regarding the metal recoveries for Akanani being less than those indicated by
the metallurgical results and the Company's plans with respect to the
exploration and development of Akanani) are forward-looking statements. These
forward-looking statements reflect the current expectations or beliefs of the
Company based on information currently available to the Company. Forward-
looking statements are subject to a number of risks and uncertainties that may
cause the actual results of the Company to differ materially from those
discussed in the forward-looking statements, and even if such actual results
are realized or substantially realized, there can be no assurance that they
will have the expected consequences to, or effects on the Company. Factors
that could cause actual results or events to differ materially from current
expectations include, among other things, the preliminary nature of the
Metallurgical Results, changes in PGM prices, changes in equity markets,
failure to establish estimated mineral resources, delays in obtaining or
failure to obtain required regulatory approvals, political risks arising from
operating in Africa, changes to regulations affecting the Company's
activities, uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting drilling
results and other ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking statements are reasonable, forward-
looking statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent
uncertainty therein.
For further information: on AfriOre and its projects visit the Company's
website at www.afriore.com or contact: Fiona Childe, Ph.D., P.Geo., VP
Corporate Communications, Tau Capital Corp., Tel: (416) 361-9636 x 227, Email:
fchilde(at)taucapital.com
(AFO.)
END
Grafico Azioni Afriore (LSE:AFO)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Afriore (LSE:AFO)
Storico
Da Giu 2023 a Giu 2024