Nkout and Putu Mineral Resource Estimates filed (9766B)
March 01 2011 - 7:00AM
UK Regulatory
TIDMAAAM
RNS Number : 9766B
African Aura Mining Inc.
01 March 2011
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION
TO US NEWS WIRE SERVICES
1 March 2011
TSX-V: AUR
AIM: AAAM
African Aura Mining Inc.
NKOUT AND PUTU MINERAL RESOURCE ESTIMATES FILED ON SEDAR
1 March 2011, African Aura Mining Inc. ("African Aura" or the
"Company") the TSX-V (AUR) and AIM (AAAM) listed exploration and
development company with divisions focused on iron ore and gold in
sub-Saharan Africa, announces the simultaneous filings of Mineral
Resource Estimates pursuant to National Instrument 43-101, relating
to the Company's 100% owned Nkout iron ore project located in
southern Cameroon and its 38.5% Putu project in eastern
Liberia.
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.african-aura.com.
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 that are intended to be split into
separate listed companies becoming effective, subject to
shareholder, regulatory and other approvals in April 2011:
- The continuing company will retain the iron ore assets and
will be renamed "Afferro Mining Inc.". Projects include its 38.5%
interest in the 2.4Bt Putu iron ore project in Liberia, which is
subject to a resource expansion drilling programme and moving
through pre-feasibility managed by joint venture partner Severstal
Resources (the mining division of London and 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 1Bt iron ore
project and surrounding iron targets in Cameroon which is subject
to a resource expansion drilling programme.
- The gold assets, to be held in "Aureus Mining Inc." when
listed independently, include 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. For further information on the Company you are invited to
visit its website at www.african-aura.com, or SEDAR's website at
www.sedar.com.
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
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.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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