Business
Afferro Mining Inc. - Publication of Q1 2013 Results
/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/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, May 23, 2013 /CNW/ - The Board of Afferro Mining Inc.\n announces the release of its unaudited Financial Statements for the\n quarter ended March 31, 2013. The Financial Statements should be read\n in conjunction with the accompanying Management Discussion and\n Analysis. These documents have been filed on Sedar and are available on\n the Company's website www.afferro-mining.com or at www.sedar.com.\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 1.19Bt at 32.9% Fe and an Inferred Mineral Resource\n Estimate of 1.33Bt at 30.3% Fe. In addition Nkout has a NI 43-101\n compliant Preliminary Economic Assessment (\"PEA\") which indicates that\n the project is economically viable. Ntem comprises a NI 43-101\n compliant Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and\n an Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe. The\n Company had cash, cash equivalents and short-term deposits totaling\n $89m on the 31 December 2012 and is fully funded for at least the next\n two years.\n\n\nQualified Person\n\n\nHoward Baker (MAusIMM(CP)) has 18 years' experience in the mining\n industry and 10 years' experience in the exploration, definition and\n mining of iron ore mineral resources. Mr Baker is a full-time employee\n of SRK Consulting (UK) Ltd., an independent consultancy, and has\n sufficient experience which is relevant to the style of mineralisation\n and type of deposit under consideration, and to the type of activity\n which he is undertaking to qualify as a Qualified Person in accordance\n with NI 43-101 and a Competent Person as defined in the June 2009\n Edition of the AIM Note for Mining and Oil & Gas Companies. Howard\n Baker consents to the inclusion in the announcement of the matters\n based on their information in the form and co...