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TSX-V:AFF
AIM:AFF
LONDON, UK, July 29, 2011/CNW/ - Afferro Mining Inc. ("Afferro" or the "Company"), the TSX-V / AIM listed exploration and development company with iron ore projects in Cameroonand Liberia, announces the filing of a technical report pursuant to National Instrument 43-101, relating to the Company's Nkout project. This follows the news release dated 16 June 2011announcing the updated resource statement.
With this news release, the Company is reporting the filing as required under the National Instrument 51-101. A copy of the document may be obtained via www.sedar.comand on the Company's corporate website www.afferro-mining.com. The previously announced highlights of the Nkout project are as follows:
- Total Nkout resource increased by 36% to 1.42Bt at 33.6% Fe after less than four months since maiden resource estimate
- 700Mtof magnetite banded iron formation (BIF), representing 50% of the resource, promoted to indicated category at Nkout Centre
- Estimate covers a 5.9km section of a 20km long magnetic anomaly
- Recent holes to date include:
- NKGS018 44.1m at 60.9% Fe of potential direct shipping ore (DSO) material
- NKDD022 500m of visual mineralisation intercepted, assays pending
- 2011 drilling campaign now expected to exceed 35,000m with 8,500m completed and included in the updated resource
- Further resource estimate to include oxidised zone expected to be drilled in September
About Afferro Mining Inc.
Afferro is an established exploration and development company listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the Nkout iron ore project (the "Nkout Project"), and surrounding iron targets in
Cameroonand which is subject to a resource expansion drilling programme. Afferro also has a 38.5% interest in the Putu iron ore project in
Liberia(the "Putu Project"), which is subject to a resource expansion drilling programme and is moving through pre-feasibility managed by joint venture partner Severstal Resources (the mining division of
Londonand
Moscowlisted OAO Severstal). In
September 2010, the Putu Project was granted a 25 year renewable Mineral Development Agreement by the Government of
Liberia.
Qualified Perso
n
Howard Bakerhas some ten years experience in the exploration, definition and mining of iron ore Mineral Resources.
Howard Bakeris a full-time employee of SRK Consulting (UK) Ltd, an independent Consultancy and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a Qualified Person in accordance with NI43-101 and a Competent Person as defined in the
June 2009Edition of the AIM Note for Mining and Oil Gas Companies.
Howard Bakerconsents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.
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.