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Afferro Mining Inc. - Filing of NI 43-101 Technical Report on Ntem Project
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About this update from Affinity Metals Corp
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US\n NEWS WIRE SERVICES./\n\n\nTSX-V: AFFAIM: AFF \n\n\nLONDON, UK, June 12, 2013 /CNW/ - Afferro Mining Inc. (\"Afferro\" or the\n \"Company\"), the exploration and development company focused on iron ore\n in Cameroon, is pleased to announce the filing of a technical report\n pursuant to National Instrument 43-101 (\"NI 43-101″), relating to its\n Ntem project (\"Ntem\" or the \"Project\"). This follows the news release\n dated 7 May 2013, announcing a maiden mineral resource estimate for\n Ntem.\n\n\nWith this news release, the Company is reporting the filing as required\n under NI 43-101. A copy of the document may be obtained via www.sedar.com and on the Company's website www.afferro-mining.com.\n\n\nThe previously announced highlights of the Project are as follows:\n\n\nA total indicated mineral resource of 39.1 million tonnes (\"Mt\") at a\n grade of 34.0% iron (\"Fe\")\n\n\nA total inferred mineral resource of 76.4 Mt at a grade of  34.2% Fe\n\n\nPositive pilot-scale metallurgical testwork indicates a saleable and\n high grade product\n\n\nAbout Afferro Mining Inc. \n\n\nAfferro is an established exploration and development company listed on\n the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100%\n owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70%\n interest in the Ngoa project, an exploration target bordering Nkout.\n All projects are subject to government rights. Nkout has a National\n Instrument 43-101 (\"NI 43-101\") compliant Indicated Mineral Resource\n Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate\n of 0.9Bt at 30.8% Fe. In addition Nkout has a NI 43-101 compliant\n Preliminary Economic Assessment (\"PEA\") which indicates that the\n project is economically viable. Ntem comprises a NI 43-101 compliant\n Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an\n Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe. The Company\n had cash, cash equivalents and short-term deposits totalling $84m on\n the 31 March 2013 and is fully funded for at least the next two years.\n\n\nQualified Person\n\n\nHoward Baker (MAusIMM(CP)) has 19 years' experience in the mining\n industry and 11 years' experience in the exploration, definition and\n mining of iron or...