Business
Afferro Mining Inc. - Nkout Overall Resource Increased by 41% to 2 Billion Tonnes
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES./ ...
About this update from Affinity Metals Corp
[{"type":"text","content":"\n\n\n\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, Nov. 14, 2011 /CNW/ - Afferro Mining Inc. (\"Afferro\" or the\n \"Company\"), the TSX-V / AIM listed exploration and development company,\n with iron ore projects in Cameroon and Liberia, is pleased to announce\n its third NI 43-101 compliant Mineral Resource Estimate (\"MRE\") of 2011\n for the Nkout project in Cameroon.\n\n\nHighlights:\n\n\nTotal Nkout resource increased by 41% to 2.0Bt at 32.2% Fe\n\n\n70% tonnage increase in high-grade, potential direct shipping ore\n (\"DSO\")  to 18.5Mt\n\n\nCorresponding increase in DSO grade from 58.7% Fe total to 60.3% Fe\n total with an associated drop in SiO2, Al2O3\n\n944Mt of magnetite banded iron formation (\"BIF\") promoted to Indicated\n category at Nkout Centre, representing 47% of the MRE\n\n\nMRE now covers an 8.9km section of a 20km-long magnetic anomaly\n\n\nDrilling campaign continues to focus on further definition of high-grade\n zones and adding additional tonnage at depth\n\n\nLuis da Silva, Chief Executive of Afferro, commented:\n\n\n\"This is the third resource increase of the year at Nkout, demonstrating\n the speed of the project development, having commenced drilling just 15\n months ago.  It is a substantial increase in both the magnetite BIF and\n the potential DSO resource with an increase in grade. Together with the\n infrastructure scoping study, which we expect to release shortly, this\n goes further to demonstrating the economic viability of the Nkout iron\n ore project. Our aggressive drilling campaign continues at pace with\n further metallurgical test work continuing on the DSO, saprolite and\n BIF.\"\n\n\nMineral Resource Estimate\n\n\nThis Nkout Mineral Resource Estimate, issued by independent engineers\n SRK Consulting (UK) Ltd (\"SRK\") has been prepared for the Company and\n made compliant with Canadian National Instrument 43-101 (\"NI 43-101\").\n\n\nThe report serves as an independent report prepared by Mr Howard Baker\n of SRK Consulting (UK) Ltd, a Qualified Person as defined by the\n Canadian NI 43-101 and the companion policy 43-101CP. The definitions\n of Measured, Indicated and Inferred Resources, as well as reserves as\n used by the author, conform to the definitions and guideli...