Affinity Metals CorpCSE: AFF

Highly encouraging widths of iron ore intercepted at nkout

· Issued by Affinity Metals Corp via CNW

Jan. 26, 2011 (Canada NewsWire Group) --

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.

TSX-V: AUR
AIM:  AAAM

LONDON, UK, Jan. 26 /CNW/ - African Aura Mining Inc. ("African Aura" or the "Company"), the TSX-V (AUR) and AIM (AAAM) listed exploration and development company is pleased to announce the detailed geological intercepts at its iron ore project at Nkout, southern Cameroon.

  • Phase one programme of 4,191m of diamond drilling completed at Nkout Centre
  • Best results intersected include:
    • 92.5m of haematite dominant cap at 46.7% Fe (hole NKGS004)
    • 178m of magnetite BIF at 35.1% Fe (hole NKDD002) and
    • 100m of magnetite BIF at 38.1% Fe (hole NKDD009)
  • Maiden NI 43-101 compliant resource statement anticipated by early February 2011
  • Intensive drill campaign of 24,000m planned for 2011

Luis da Silva, Chief Executive of African Aura, commented:

"The geology and extent of iron ore mineralisation within the initial 3km long Nkout centre area bodes very well for the future upside to be tested along the balance 8km of strike. The extensions east and west and further anomalies to the south will be part of a more aggressive drilling campaign in 2011. This should allow the pending resource estimate to be both increased and the resources category upgraded. The excellent drill results to date combined with the successful metallurgical testing bode very well for the potential of Nkout."

Following on from the Company's news release dated 21 September 2010, the Company completed its 4,191m core drill programme on the Nkout property in southern Cameroon in November. The drilling has confirmed the occurrence of an east-west trending and concordant magnetite bearing banded iron formation ("BIF") coincident with the geophysical target and topography of the Nkout ridge.

Drilling has focused on the Nkout centre target that makes up approximately 3km of a regional magnetic anomaly that extends for some 20km within the Djoum license area. The drilling programme that has been completed was designed to target the magnetite BIF and the overlying oxidized cap material. In total, 11 inclined drill holes were completed of which 9 intercepted a 200m average down hole sequence dominatefd by BIF units and 22 vertical drill holes targeting the oxidized cap were completed of which 11 intercepted an average of 43m before intercepting fresh BIF.

All received assays have now been received for the exploration programme with the relevant interception thickness and assay grades compiled in Table 1 and the drill hole collar locations compiled in Table 2. SRK Consulting (UK) Limited ("SRK") are currently in the process of undertaking the inaugural Mineral Resource Estimation ("MRE") for the Nkout centre project. The results of the MRE are expected to be complete by early February, 2011.

The previously stated average grade of the BIF of 40% was incorrect and as such should not be construed as the average grade of Nkout, the inaugural resource estimation is due in early February, which will include the resource grade.

Metallurgy

As reported on 19 January 2011, excellent metallurgical results were received from initial test work. Davis Tube test results were highly encouraging and show that when using a grind size of P90 less than 100µ, that a very high grade concentrate averaging >70% Fe, 0.16% Al2O3, 2.2% SiO2 and <0.01% P is attained at a mass recovery of 42.2%.

The results of the Davis Tube test work are summarised in Table 3 and suggest that the Nkout BIF will be amenable to standard magnetic separation techniques. SRK selected 94 representative samples from the magnetite BIF for the test work.

The oxidized cap material shows elevated Fe grades with a maximum grade of to 61.8% Fe (total). The elevated grade is a result of the natural enrichment of the BIF after Silica dissolution, this being a typical weathering profile of Fe deposits in Central and West Africa. All assay results and Davis Tube Test work was completed at OMAC's facilities in Ireland.

Qualified Person

The summary of the Exploration results has been completed by Howard Baker, a Principal Mining Geologist with SRK Consulting (UK) Ltd, who is a Member of the Australian Institute of Mining and Metallurgy (MAusIMM). Howard Baker has some ten years experience in the exploration, definition and mining of iron ore Mineral Resources. Howard Baker is 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 Competent Person as defined in the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Howard Baker consents 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.

Table 1: Nkout Intervals and Assay Grades

HOLE ID DRILLED DEPTH (M) % FE TOTAL LENGTH DOWNHOLE (M) FROM (M) TO (M) DOMINANT GEOLOGY COMMENT
NKDD002 290.7 42.6 25.0 0.0 25.0 Oxidized (Haematite) Sequence Completed
NKDD002 44.6 11.0 25.6 36.6 Oxidized (Haematite)
NKDD002 37.3 36.2 36.8 73.0 Oxidized (Haematite)
NKDD002 35.1 178.0 73.0 251.0 Magnetite
BIF
NKDD002 30.8 13.0 257.0 270.0 Magnetite
BIF
NKDD003 301.5 43.8 2.6 19.8 22.3 Oxidized (Haematite) Sequence Completed
NKDD003 37.7 28.8 22.5 51.3 Oxidized (Haematite)
NKDD003 36.8 11.0 51.4 62.4 Oxidized (Haematite)
NKDD003 32.4 113.2 134.8 248.0 Magnetite
BIF
NKDD003 21.6 5.6 256.2 261.8 Magnetite
BIF
NKDD004 350.9 42.5 3.6 0.0 3.6 Oxidized (Haematite) Sequence Completed
NKDD004 55.3 1.5 4.1 5.6 Oxidized (Haematite)
NKDD004 58.0 1.7 7.8 9.5 Oxidized (Haematite)
NKDD004 51.0 18.0 10.1 28.1 Oxidized (Haematite)
NKDD004 58.3 0.8 31.1 31.9 Oxidized (Haematite)
NKDD004 32.5 3.0 33.6 36.6 Oxidized (Haematite)
NKDD004 50.0 1.8 37.1 38.9 Oxidized (Haematite)
NKDD004 57.4 1.5 40.1 41.6 Oxidized (Haematite)
NKDD004 36.4 3.4 43.1 46.5 Oxidized (Haematite)
NKDD004 32.5 63.4 54.7 118.0 Oxidized (Haematite)
NKDD004 36.3 48.0 118.0 166.0 Magnetite
BIF
NKDD004 29.8 68.0 170.0 238.0 Magnetite
BIF
NKDD004 27.8 6.4 264.0 270.4 Magnetite
BIF
NKDD004 31.7 30.0 272.0 302.0 Magnetite
BIF
NKDD004 32.6 17.2 310.0 327.2 Magnetite
BIF
NKDD005 479.8 34.4 66.0 210.0 276.0 Magnetite
BIF 		Sequence Completed
NKDD005 37.0 30.0 278.0 308.0 Magnetite
BIF
NKDD005 32.6 62.0 310.0 372.0 Magnetite
BIF
NKDD005 31.0 32.7 373.9 406.5 Magnetite
BIF
NKDD005 34.6 8.1 407.9 416.0 Magnetite
BIF
NKDD005 30.5 3.2 417.5 420.7 Magnetite
BIF
NKDD005 28.4 7.2 422.9 430.0 Magnetite
BIF
NKDD005 33.3 8.0 442.0 450.0 Magnetite
BIF
NKDD006 360.1 35.9 20.0 90.0 110.0 Magnetite
BIF 		Sequence Completed
NKDD006 35.7 23.2 111.9 135.1 Magnetite
BIF
NKDD007A 397.0 44.7 23.8 0.7 24.5 Oxidized (Haematite) Sequence Completed
NKDD007A 47.9 31.9 34.1 66.0 Oxidized (Haematite)
NKDD007A 38.1 28.0 90.0 118.0 Magnetite
BIF
NKDD007A 29.6 6.0 122.0 128.0 Magnetite
BIF
NKDD007A 25.3 8.0 130.0 138.0 Magnetite
BIF
NKDD007A 32.9 40.0 142.0 182.0 Magnetite
BIF
NKDD007A 32.8 31.4 184.0 215.4 Magnetite
BIF
NKDD007A 31.6 10.0 274.0 284.0 Magnetite
BIF
NKDD007A 25.9 8.0 352.0 360.0 Magnetite
BIF
NKDD007A 28.0 27.3 369.7 397.0 Magnetite
BIF
NKDD009 465.4 24.6 3.8 115.0 118.8 Magnetite
BIF 		Sequence Completed
NKDD009 30.2 13.2 151.0 164.2 Magnetite
BIF
NKDD009 34.2 18.1 188.9 207.0 Magnetite
BIF
NKDD009 38.1 100.0 244.0 344.0 Magnetite
BIF
NKDD009 36.4 16.2 347.8 364.0 Magnetite
BIF
NKDD009 31.8 28.0 370.0 398.0 Magnetite
BIF
NKDD009 19.6 22.0 443.4 465.4 Magnetite
BIF
NKDD010 515.7 33.8 42.6 138.0 180.6 Magnetite
BIF 		Sequence Completed
NKDD011 94.8 37.8 28.0 29.3 57.3 Magnetite
BIF 		Sequence Completed
NKDD011 36.4 26.0 57.3 83.3 Magnetite
BIF
NKGS004 92.5 46.7 92.5 0.0 92.5 Oxidized (Haematite) Weathered BIF Target
NKHC005 59.0 47.3 50.0 0.0 50.0 Oxidized (Haematite) Weathered BIF Target
NKHC005 39.9 3.0 56.0 59.0 Oxidized (Haematite)
NKHC006 57.6 52.0 52.0 0.0 52.0 Oxidized (Haematite) Weathered BIF Target
NKHC006 40.4 5.0 52.0 57.0 Magnetite
BIF
NKHC008 63.5 45.2 29.8 0.0 29.8 Oxidized (Haematite) Weathered BIF Target
NKHC008 38.3 6.0 44.0 50.0 Oxidized (Haematite)
NKHC008 50.6 11.0 52.0 63.0 Oxidized (Haematite)
NKHC009A 42.5 44.4 30.0 0.0 30.0 Oxidized (Haematite) Weathered BIF Target
NKHC009A 39.5 8.0 34.0 42.0 Oxidized (Haematite)
NKHC010 56.3 50.4 56.0 0.0 56.0 Oxidized (Haematite) Weathered BIF Target
NKHC011 45.5 43.7 29.0 0.0 29.0 Oxidized (Haematite) Weathered BIF Target
NKHC013 30.6 38.0 26.0 0.0 26.0 Oxidized (Haematite) Weathered BIF Target
NKHC013 33.9 4.6 26.0 30.6 Magnetite
BIF
NKHC015 32.0 43.5 29.0 0.0 29.0 Oxidized (Haematite) Weathered BIF Target
NKHC015 41.1 3.8 29.0 32.8 Magnetite
BIF
NKHC016 39.5 35.4 18.1 0.0 18.1 Oxidized (Haematite) Weathered BIF Target
NKHC016 34.7 12.0 26.1 38.1 Oxidized (Haematite)
NKHC017 27.5 38.5 25.5 2.1 27.6 Oxidized (Haematite) Weathered BIF Target
TOTAL 3,802            

Table 2: Nkout Drillhole Collar Locations

HOLE ID EASTING NORTHING ELEVATION AZIMUTH DIP DEPTH (M) TARGET
NKDD001 254400 285773 694 0 -50 104 Deep (BIF)
NKDD002 254400 286111 738 180 -44 291 Deep (BIF)
NKDD003 254806 286232 767 180 -52 302 Deep (BIF)
NKDD004 253797 286061 747 180 -51 351 Deep (BIF)
NKDD005 254393 286325 709 180 -50 480 Deep (BIF)
NKDD006 255599 286494 738 180 -48 360 Deep (BIF)
NKDD007A 253005 286034 847 180 -50 440 Deep (BIF)
NKDD009 253001 286244 796 180 -50 516 Deep (BIF)
NKDD010 255607 286575 721 180 -49 248 Deep (BIF)
NKDD011 252560 285299 670 125 -55 95 Deep (BIF)
NKGS001 254804 286248 763 0 -90 55 Shallow (Saprolite)
NKGS002 254801 286141 774 0 -90 71 Shallow (Saprolite)
NKGS003 253000 285807 847 0 -90 73 Shallow (Saprolite)
NKGS004 253000 285898 859 0 -90 93 Shallow (Saprolite)
NKHC001 255607 286318 762 0 -90 52 Shallow (Saprolite)
NKHC002 255599 286122 727 0 -90 46 Shallow (Saprolite)
NKHC003 255597 286212 747 0 -90 52 Shallow (Saprolite)
NKHC004 255608 286016 709 0 -90 29 Shallow (Saprolite)
NKHC005 254412 286043 751 0 -90 59 Shallow (Saprolite)
NKHC006 254411 285952 753 0 -90 58 Shallow (Saprolite)
NKHC007 253797 286138 726 0 -90 74 Shallow (Saprolite)
NKHC008 253799 285842 800 0 -90 64 Shallow (Saprolite)
NKHC009A 253800 285740 783 0 -90 43 Shallow (Saprolite)
NKHC010 253800 285938 786 0 -90 56 Shallow (Saprolite)
NKHC011 254407 285856 733 0 -90 46 Shallow (Saprolite)
NKHC012 254803 286188 770 0 -90 49 Shallow (Saprolite)
NKHC013 254799 285997 763 0 -90 31 Shallow (Saprolite)
NKHC014 254802 285944 747 0 -90 55 Shallow (Saprolite)
NKHC015 254799 286042 768 0 -90 32 Shallow (Saprolite)
NKHC016 254801 286088 774 0 -90 40 Shallow (Saprolite)
NKHC017 255605 286402 759 0 -90 28 Shallow (Saprolite)

Table 3: Davis Tube Testwork Results

  FEED % DTR CONCENTRATE %  
BHID Al2O3 Fe P SiO2 Mass Recovery Al2O3 Fe P SiO2 % Fe as Mag
NKDDD002 0.27 40.09 0.044 40.51 38.0 0.09 70.70 0.012 0.67 67
NKDDD002 0.14 41.50 0.038 39.22 40.8 0.03 71.14 0.007 0.60 70
NKDDD002 0.86 39.30 0.030 41.15 46.9 0.06 71.22 0.005 0.82 85
NKDDD002 0.69 39.83 0.040 39.38 50.9 0.05 71.06 0.002 0.82 91
NKDDD002 0.14 38.91 0.051 41.91 51.7 0.01 71.92 0.003 0.77 96
NKDDD002 0.16 37.81 0.042 42.71 50.1 0.01 70.45 0.002 1.80 93
NKDDD002 0.16 38.58 0.045 42.05 50.1 0.01 71.52 0.002 0.80 93
NKDDD002 0.21 37.90 0.040 42.23 50.9 0.02 71.23 0.002 0.87 96
NKDDD002 0.62 37.51 0.034 41.57 43.7 0.10 70.92 0.003 2.03 83
NKDDD002 0.29 38.79 0.021 42.10 52.0 0.05 70.72 0.002 1.66 95
NKDDD002 0.26 39.96 0.028 40.85 55.1 0.06 67.99 0.004 4.93 94
NKDDD002 0.24 40.23 0.030 39.80 54.5 0.04 69.28 0.003 2.97 94
NKDDD002 0.25 41.68 0.020 38.34 56.4 0.06 70.25 0.002 2.42 95
NKDDD002 0.93 34.79 0.035 45.44 45.0 0.12 69.52 0.003 2.73 90
NKDDD002 0.56 35.60 0.043 44.41 41.4 0.19 68.86 0.004 4.00 80
NKDDD002 0.37 39.36 0.039 40.87 46.0 0.22 65.92 0.008 6.91 77
NKDDD002 0.72 33.62 0.047 46.46 36.3 0.22 65.98 0.009 6.95 71
NKDDD002 0.46 35.62 0.034 45.47 40.1 0.09 69.98 0.003 2.97 79
NKDDD002 0.51 36.49 0.038 44.30 39.7 0.09 69.91 0.003 2.85 76
NKDDD002 0.46 38.33 0.031 41.63 40.6 0.10 70.18 0.002 2.47 74
NKDDD002 0.56 37.74 0.044 40.67 46.4 0.08 70.70 0.003 1.49 87
NKDDD002 0.47 37.32 0.035 42.70 48.7 0.07 71.23 0.002 1.03 93
NKDDD002 0.32 41.29 0.025 39.51 54.5 0.07 71.22 0.002 0.75 94
NKDDD002 0.31 40.74 0.032 39.40 54.3 0.08 71.38 0.003 1.23 95
NKDDD002 0.65 37.20 0.042 42.23 50.1 0.16 69.10 0.006 3.52 93
NKDDD002 0.43 37.78 0.036 41.58 51.1 0.13 68.79 0.005 3.32 93
NKDDD002 3.87 30.64 0.037 44.56 37.8 0.43 68.93 0.004 3.53 85
NKDDD002 1.69 34.35 0.040 43.32 44.7 0.11 70.79 0.004 1.27 92
NKDDD002 1.36 30.33 0.040 50.70 37.8 0.09 71.49 0.002 1.21 89
NKDDD002 3.35 29.94 0.053 47.11 36.8 0.19 70.09 0.004 1.92 86
NKDDD002 1.45 34.34 0.042 44.16 45.8 0.15 70.14 0.003 2.50 94
NKDDD002 0.57 36.48 0.036 42.49 49.3 0.05 70.68 0.002 1.72 96
NKDDD002 1.00 34.43 0.048 43.70 45.1 0.10 70.70 0.003 2.10 93
NKDDD002 0.75 36.10 0.038 43.24 46.0 0.10 70.42 0.002 1.35 90
NKDDD002 9.19 18.31 0.052 51.06 15.6 0.29 70.33 0.004 1.68 60
NKDDD002 3.50 28.53 0.055 47.43 34.7 0.37 68.05 0.005 4.04 83
NKDDD002 5.52 24.72 0.054 48.73 28.5 0.42 69.25 0.003 2.99 80
NKDDD002 0.25 37.98 0.042 42.51 51.5 0.04 70.36 0.004 1.87 95
NKDDD002 0.94 34.10 0.045 45.49 44.9 0.06 71.67 0.002 0.95 94
NKDDD002 1.33 33.32 0.041 45.59 43.8 0.08 70.76 0.003 1.33 93
NKDDD002 0.81 34.58 0.041 45.37 45.9 0.07 71.81 0.002 1.00 95
NKDDD002 3.17 29.74 0.052 48.31 37.3 0.35 68.69 0.005 3.60 86
NKDDD002 3.05 29.53 0.054 48.19 35.8 0.33 68.88 0.004 3.71 83
NKDDD002 5.76 23.75 0.045 48.93 25.5 0.24 69.18 0.002 3.12 74
NKDDD002 4.66 27.93 0.051 46.27 31.1 0.30 70.65 0.003 2.03 79
NKDDD002 2.16 31.79 0.037 47.17 39.4 0.24 70.18 0.004 2.12 87
NKDDD002 4.04 29.58 0.042 45.64 36.2 0.46 69.12 0.004 3.93 85
NKDDD002 1.01 33.88 0.045 45.65 42.6 0.19 69.86 0.003 2.40 88
NKDDD002 1.44 35.15 0.034 42.75 44.2 0.31 69.31 0.003 3.58 87
NKDDD002 0.59 36.18 0.041 43.91 42.4 0.28 69.02 0.003 2.44 81
NKDDD002 0.48 36.35 0.039 44.13 44.5 0.22 70.80 0.002 1.83 87
NKDDD002 0.36 36.40 0.026 44.17 47.1 0.15 69.89 0.002 2.41 90
NKDDD002 1.73 33.21 0.051 45.49 44.1 0.28 69.22 0.007 3.68 92
NKDDD002 1.28 35.21 0.045 43.22 48.2 0.22 68.73 0.007 3.90 94
NKDDD002 5.04 25.82 0.064 50.16 32.8 0.67 67.11 0.009 4.88 85
NKDDD002 3.54 30.19 0.057 45.90 39.0 0.33 70.23 0.005 2.21 91
NKDDD002 0.17 39.32 0.041 39.99 53.3 0.10 70.70 0.002 1.74 96
NKDDD002 1.86 35.64 0.050 43.52 48.2 0.34 71.00 0.002 1.17 96
NKDD003 1.43 25.00 0.090 45.54 25.8 0.18 70.95 0.002 1.39 73
NKDD003 2.97 27.35 0.038 56.45 28.4 0.20 71.33 0.002 1.11 74
NKDD003 3.40 27.06 0.045 47.68 30.1 0.30 71.20 0.002 1.24 79
NKDD003 0.40 18.74 0.043 50.55 16.7 0.13 70.59 0.002 2.40 63
NKDD003 0.95 29.12 0.025 67.05 32.9 0.24 67.48 0.007 5.53 76
NKDD003 0.37 37.19 0.050 50.64 50.1 0.05 71.33 0.003 1.33 96
NKDD003 0.77 35.33 0.048 42.92 45.7 0.02 71.44 0.002 0.92 92
NKDD003 0.08 38.08 0.005 94.61 39.2 0.01 70.73 0.003 1.83 73
NKDD003 0.08 39.42 0.031 41.01 38.7 0.01 70.84 0.002 1.96 70
NKDD003 0.23 38.86 0.038 41.18 51.4 0.01 71.08 0.002 1.85 94
NKDD003 0.13 38.73 0.043 41.09 51.7 0.01 71.14 0.003 1.50 95
NKDD003 0.15 38.32 0.040 41.84 50.5 0.01 71.18 0.002 1.30 94
NKDD003 0.21 38.12 0.048 42.25 49.0 0.01 71.98 0.003 0.62 93
NKDD003 0.22 39.68 0.054 44.24 52.8 0.01 72.01 0.003 0.53 96
NKDD003 0.18 36.69 0.042 39.76 46.3 0.01 71.53 0.003 0.55 90
NKDD003 0.17 38.01 0.096 44.47 49.6 0.01 71.57 0.002 0.60 93
NKDD003 0.17 38.76 0.041 42.30 51.6 0.02 71.60 0.002 0.65 95
NKDD003 2.45 32.42 0.047 45.44 41.0 0.12 71.27 0.004 1.31 90
NKDD003 0.16 39.18 0.042 45.34 52.8 0.03 71.39 0.002 1.23 96
NKDD003 0.37 38.40 0.040 40.39 52.8 0.07 69.37 0.004 3.13 95
NKDD003 1.42 36.28 0.060 55.51 48.5 0.16 70.22 0.003 2.33 94
NKDD003 0.52 36.54 0.025 42.55 49.2 0.08 70.85 0.002 2.01 95
NKDD003 3.22 23.04 0.054 47.69 26.9 0.27 69.37 0.004 3.35 81
NKDD003 4.43 25.90 0.064 47.11 26.7 0.68 66.43 0.005 6.41 69
NKDD003 4.37 26.60 0.050 52.84 29.2 0.57 67.31 0.005 5.77 74
NKDD003 4.84 27.40 0.051 51.16 30.8 0.23 70.80 0.003 1.90 80
NKDD003 1.64 32.88 0.031 42.60 41.8 0.12 71.10 0.002 1.63 90
NKDD003 3.20 30.89 0.037 46.90 38.9 0.44 68.24 0.005 4.13 86
NKDD003 5.67 24.74 0.041 45.98 28.7 0.24 70.70 0.003 1.48 82
NKDD003 7.01 20.89 0.056 53.69 24.7 0.15 71.46 0.002 0.64 84
NKDD003 6.69 22.87 0.052 53.14 26.4 0.22 71.43 0.003 0.87 82
NKDD003 4.34 28.05 0.051 50.27 34.0 0.20 71.03 0.002 1.14 86
NKDD003 0.51 35.54 0.041 47.46 47.4 0.14 71.38 0.002 1.04 95
NKDD003 2.71 30.32 0.043 43.89 38.8 0.11 71.46 0.002 0.94 92
NKDD003 4.79 26.75 0.049 47.23 33.2 0.14 71.42 0.002 0.90 89
NKDD003 0.28 36.88 0.058 49.17 49.9 0.07 71.27 0.002 1.37 96
Average 1.68 33.9 0.04 45.61 42.2 0.16 70.25 0.004 2.20 87
Minimum 0.08 18.31 0.01 38.34 15.61 0.01 65.92 0.002 0.53 60
Maximum 9.19 41.68 0.10 94.61 56.42 0.68 72.01 0.012 6.95 96

About African Aura Mining Inc.

African Aura is an established exploration and development company listed on the TSX-V (AUR) and London's AIM (AAAM). The Company operates two divisions, namely: iron ore and gold:

  • The iron ore division includes its 38.5% interest in the Putu iron ore project in Liberia, which is moving through pre-feasibility managed by joint venture partner Severstal Resources (the mining division of Moscow listed OAO Severstal). In September 2010 Putu was granted a 25 year renewable Mineral Development Agreement by the Government of Liberia. The division also includes a 100% interest in the Nkout iron ore project and surrounding iron targets in Cameroon which is subject to a resource definition drilling programme.
  • The gold division includes the New Liberty gold deposit in western Liberia which has a resource of 1.51 million ounces of gold grading 3.78 g/t (comprising 5,599,000 tonnes grading 4.17 g/t in the indicated category and 7,040,000 tonnes grading 3.40 g/t in the inferred category) which is being advanced through a bankable feasibility study, and the proximal Ndablama, Weaju, Silver Hills and Gondoja gold projects all within the Company's Bea Mountain 25 year renewable Mineral Development Agreement.

In addition, the Company has a 22% interest in AIM-listed diamond producer Stellar Diamonds Plc (AIM: STEL, www.stellar-diamonds.com).

The Company has a highly motivated and experienced team with a track record of discovering mines and taking projects through development and into production. As a pioneer, African Aura has attracted some excellent strategic partners and shareholders, always with the objective of preserving or enhancing shareholder value.

 

Forward-looking Statements

This press release includes certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the future plans and objectives of African Aura, are forward-looking statements that involve various known and unknown risks and uncertainties as well as other factors. Such forward-looking statements are subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including delays in obtaining or failure to obtain required regulatory approvals. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statements speak only as of the date hereof and, except as may be required by applicable law, African Aura disclaim any obligation to update or modify such forward-looking statements, either as a result of new information, future events or for any other reason.

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.

on the Company you are invited to visit its website at www.african-aura.com, or SEDAR's website at www.sedar.com, or contact one of the following:

African Aura Mining Inc.
Luis da Silva, President & CEO   		       Tel: +44 (0) 20 7257 2930
         
Evolution Securities Limited
Rob Collins / Tim Redfern    		       Tel: +44 (0) 20 7071 4300
         
Pelham Bell Pottinger
Charles Vivian / James MacFarlane   		       Tel: +44 (0) 20 7861 3232