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Friday, 22 February 2013
Afferro drilling points to high-grade, low cost extension to Cameroon project
Afferro Mining’s (LON:AFF, CVE:AFF) latest drilling programme on the Nkout iron project in Cameroon appears to have identified potential to mine direct shipping ore from the project.
It has also uncovered high-grade weathered, exposed rock, known as saprolite zones that might also be processed using simple, low-cost methods.
In all, 74 holes were sunk for a total of 4,349 metres, and all the results came from near surface.
The highlights were a 44 metre section at 51.7% iron, including 11 metres at 62.2%, 26 metres at 52% with 12 metres at 60.6% and 28 Metres at 53.4%.
Chief executive Luis da Silva said: "These results from the on-going exploration at Nkout have identified further potential DSO and a high grade saprolite resource which could be beneficiated using a simple processing solution.
“In particular, the results indicate a high grade saprolite zone extending to the south-west of Nkout Centre, with intercepts grading up to 60% iron.
“We believe that this material would be conducive to the attrition scrubbing method, as discussed in our announcement of February 4.”