8th Mar 2010 07:00
For immediate release
8 March 2010
African Minerals Limited
("African Minerals", "AML" or the "Company")
Publication of Mineral Experts Report; correction of Mineral Resource Statement
African Minerals Limited (AIM:AMI), the mineral exploration and development company with significant iron ore and base metal interests in Sierra Leone, West Africa, announces that the full Mineral Experts Report relating to the updated magnetite iron ore Mineral Resource Estimate is now available on the Company's website at www.african-minerals.com.
Concurrently, AML is reissuing the Mineral Resource Statement for the Tonkolili Iron Ore Project due to a correction being required in the reporting of the SiO2, Al2O3 and P grades for the Marampon deposit. SRK has confirmed to the Company that the correction is not deemed a material change and does not affect the overall Mineral Resource, or the Fe grade.
The correction relates to the SiO2, Al2O3 and P assay grades being reported in the incorrect assay column in the drillhole database that relate to two drillholes at the Marampon deposit.
The corrected Mineral Resource Statement is shown below:
|
DEPOSIT |
RESOURCE CATEGORY |
TONNES (Bt) |
FE_TOT % |
FE_MAG % |
SIO2 % |
AL--2O3 % |
P % |
|
Numbara |
INDICATED |
2.5 |
28.5 |
23.7 |
46.2 |
5.6 |
0.05 |
|
INFERRED |
1.5 |
27.8 |
22.9 |
46.6 |
6.0 |
0.06 |
|
|
TOTAL |
4.0 |
28.2 |
23.4 |
46.3 |
5.8 |
0.05 |
|
|
Marampon |
INDICATED |
0.5 |
29.0 |
26.3 |
46.5 |
6.1 |
0.09 |
|
INFERRED |
0.2 |
30.1 |
27.1 |
46.0 |
4.3 |
0.06 |
|
|
TOTAL |
0.7 |
29.3 |
26.6 |
46.4 |
5.5 |
0.08 |
|
|
Simbili |
INDICATED |
2.2 |
29.8 |
25.6 |
45.3 |
4.8 |
0.05 |
|
INFERRED |
0.7 |
28.8 |
23.7 |
45.9 |
5.3 |
0.05 |
|
|
TOTAL |
2.8 |
29.6 |
25.1 |
45.5 |
4.9 |
0.05 |
|
|
Kasafoni |
INDICATED |
0.9 |
32.1 |
30.3 |
43.8 |
6.2 |
0.05 |
|
INFERRED |
2.0 |
28.3 |
25.6 |
45.6 |
7.0 |
0.05 |
|
|
TOTAL |
2.9 |
29.5 |
27.1 |
45.0 |
6.7 |
0.05 |
|
|
TOTAL INDICATED |
6.1 |
29.5 |
25.6 |
45.5 |
5.5 |
0.05 |
|
|
TOTAL INFERRED |
4.4 |
28.3 |
24.5 |
46.0 |
6.2 |
0.05 |
|
|
TOTAL |
10.5 |
29.0 |
25.1 |
45.7 |
5.8 |
0.05 |
|
The change in the data above does not affect any of the remaining data reported in the resource estimate and project update announcement released by the Company on 17 February 2009.
Enquiries:
|
African Minerals Limited |
Tel: +44 (0) 1481 726833 |
|
Frank Timis |
|
|
Alan Watling |
|
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|
|
Canaccord Adams Limited |
Tel: +44 (0) 20 7050 6500 |
|
Robert Finlay |
|
|
Guy Blakeney |
|
|
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|
|
Mirabaud Securities Limited |
Tel: +44 (0) 20 7878 3380 |
|
Rory Scott |
|
|
Pav Sanghera |
|
|
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|
|
Pelham Bell Pottinger |
Tel: +44 (0) 20 7337 1500 |
|
Charles Vivian |
|
|
Klara Kaczmarek |
|
Notes:
The information in this press release that relates to Mineral Resources is based on information compiled under the direction of Mr Howard Baker, who is a Member the Australasian Institute of Mining and Metallurgy ("AusIMM").
Mr Baker is a full time employee of SRK and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Howard Baker has reviewed this press release and consents to the inclusion in the press release of the matters based on his information in the form and context in which this appears.
In addition to the above, the press release as a whole has been compiled under the direction of Dr Mike Armitage, who is a Chartered Engineer and a Chartered Geologist and a Member of the Institute of Materials, Minerals and Mining. Dr Armitage is a full time employee of SRK Consulting (UK) Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Armitage has reviewed this press release and consents to the inclusion in the press release of the matters based on his information in the form and context in which this appears.
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