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Initial assay results from WAFM’s South Djadom drilling confirm large scale near surface hematite mineralisation

07 March 2013

 

Initial assay results from WAFM’s South Djadom drilling confirm large scale near surface hematite mineralisation

 

Highlights

  • Results of first 42 drill holes in South Djadom confirms hematite and enriched banded iron formation mineralization over a 3km by 2km area
  • Testing underway of next 5km by 5km target in the overall 5km by 25km gravity and aeromagnetic anomaly  at South Djadom
  • Two more drill rigs will be mobilised for infill drilling

West African Minerals Corporation (AIM: WAFM) is very pleased to announce the results of the first batch of prospect holes drilled on its South Djadom concession in Cameroon following its news release of 13 February 2013 on the gravity gradiometry survey (Falcon ™) that was flown over portions of the Company’s large-scale Djadom and Lélé iron ore exploration permits.  The gravity survey successfully identified numerous density anomalies co-incident with the previously delineated aeromagnetic anomalies, which were interpreted as having the potential for hematite enrichment of the regionally extensive banded iron formation similar to that hosting the neighbouring Mbarga deposit. 

The prospect drilling program was designed to systematically test the large scale (25km by 5km) magnetic and gravity anomalies identified by airborne geophysical work.  This release reports the results of a total of 42 holes, all of which were drilled vertically using a reverse circulation percussion (RC) drill rig.  This drilling tested the northern-most portion of the anomaly in an area approximately 6km by 4km.

Banded iron formation, enriched banded iron formation and hematite were encountered in 11 drill holes in an area spanning approximately 3km by 2km in the southern half of this test area.  Of these 11 holes, 8 have intersected zones of enrichment, considered here as intervals in excess of 30% Fe over a minimum thickness of 5 metres, in comparison to typical, unenriched banded iron formation on South Djadom which has Fe content between 25% and 28%.  These enriched intersections, predominantly from surface, range from 8 to 23 metres in length.  Of the 8 mineralised holes, 5 intersected near surface hematite mineralisation that returned composite grades in excess of 50% over more than 5 metres.  Deleterious element concentrations fall within ranges typical of other direct shipping ore projects in the area.  

Table 1 below lists all significant intercepts >30% Fe and high-grade >50% intervals included within these 30% intercepts. A map of all the drill locations can be found on the Company’s website at www.westafricanminerals.com and in Appendix 1.  

 

Borehole

Depth from (m)

Depth to (m)

Downhole length (m)

Fe %

Al2O3 %

P %

S %

SiO2 %

LOI %

DRC025

10

21

11

45.2

4.5

0.08

0.01

23.9

6.0

DRC026

1

18

17

49.1

1.5

0.05

0.02

21.7

5.6

DRC029

1

16

15

52.7

6.0

0.06

0.03

11.1

6.5

DRC035

1

11

10

46.3

2.3

0.10

0.01

24.8

5.8

DRC037

0

10

10

50.3

7.5

0.06

0.02

13.5

6.1

DRC038

1

9

8

52.1

7.6

0.05

0.02

12.4

4.5

DRC045

0

19

19

49.9

6.6

0.06

0.02

16.5

4.5

DRC046

0

23

23

48.0

5.8

0.06

0.02

18.9

5.4

 

Minimum 50% Fe over 5 metres

 

Borehole

Depth from (m)

Depth to (m)

Downhole length (m)

Fe %

Al2O3 %

P %

S %

SiO2 %

LOI %

DRC026

6

12

6

52.2

0.9

0.05

0.02

17.5

6.0

DRC029

4

10

6

57.7

3.8

0.07

0.02

7.0

6.0

DRC037

3

8

5

57.2

4.3

0.06

0.02

8.8

4.3

DRC038

1

6

5

56.4

5.4

0.04

0.02

10.1

3.1

DRC045

1

10

9

53.9

6.2

0.04

0.02

12.9

3.1

DRC046

1

9

8

56.1

4.4

0.03

0.01

12.5

2.2

 

Commenting on these drill results, WAFM’s Vice Chairman Brad Mills said, “We are very encouraged by these drill results - hematite mineralization and enriched banded iron formation are now demonstrated to occur over widespread areas.  The mineralization correlates well with our magnetic and gravity anomalies.  We are currently continuing the test drilling program in the next 5km by 5km block to the south where field mapping and road cutting indicate the mineralization continues.  Over the next several months we anticipate that we will be able to test the entire 25km long co-incident gravity and magnetic anomaly. We are also starting logistical planning to mobilize a second RC drill and a diamond drill rig to start infilling the areas of hematite mineralisation identified to date.”

The technical information contained in this announcement has been reviewed by Dr Brendan Clarke, the Head of Geology of The MSA Group. Dr Brendan Clarke is a Member of the Geological Society of South Africa and a Professional Natural Scientist (Pr.Sci.Nat) registered with the South African Council for Natural Scientific Professions. Dr Clarke has sufficient experience relevant to the style of mineralisation under consideration and to the activities which are being reported, to qualify as a Qualified Person for the purposes of this announcement.  The MSA Group has implemented best-practice QAQC protocols on the South Djadom prospect including the insertion of standards, blanks and duplicates into the sampling stream.  The MSA Group has reviewed the results of the QAQC programme to date and is satisfied that the assay results reported in this release are both accurate and precise.


For further information contact:                 

West African Minerals Corporation

Anton Mauve

Managing Director

 

Donna Yoshimatsu

Investor Relations and Corporate Secretary

 

+44 (0) 1624 639396

 

 

+1 (647) 777-4432

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish

Michael Cornish

 

+44 (0)20 7628 3396

Investec Bank PLC (Broker)

Neil Elliot

Mark Wellesley-Wood

 

+44 (0)20 7597 5970

GTH Communications

Toby Hall

Suzanne Johnson Walsh

+44 (0) 20 7822 7493/7492

 

About West African Minerals Corporation

West African Minerals Corporation (AIM: WAFM) is an iron ore mining and exploration group focused on West Africa with interests in iron ore exploration permits in Cameroon and Sierra Leone. Through its 100 per cent owned subsidiary Compagnie Minière du Cameroun SA, WAFM owns six exploration permits in Cameroon covering a total area of approximately 6,000 square kilometres and spanning the coast to the eastern deposits.  The Sierra Leone licences comprise five exploration licences with potential for enriched hematite schists typical of the Marampa Group over a total area of approximately 687 square kilometres. 

 

Further information on the Group is available at www.westafricanminerals.com.                 

 

Appendix 1

Djadom South