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WAFM completes infill drilling at South Sanaga in coastal Cameroon towards maiden mineral resource in 2015

04 December 2014

West African Minerals Corporation (AIM: WAFM) is pleased to announce results of the infill drilling program on its South Sanaga iron ore license located about 60km from the commercial seaport and infrastructure at Douala and within 10km of the main railway between Yaoundé and Douala.  The reverse circulation (RC) infill programme comprised a total of 2,214 metres following up on a successful reconnaissance drilling programme that intersected multiple coarse-grained magnetite gneiss packages (see RNS 21 October 2014).  The Company has now generated sufficient data to complete a maiden mineral resource estimate in 2015.

Results of Infill Drilling 

The RC infill drilling programme at the South Sanaga license was completed on a total of 2,214 metres drilled in thirty-seven holes (SRC004 to 040).  Assay results have been received for RC infill holes SRC006 to SRC024; all other outstanding assays are expected by the end of the year.  Inclusive of the previously reported 1,729 metres of reconnaissance diamond core drilling in seventeen holes, a total of 3,943 metres of drilling on South Sanaga has been completed to date.  Drilling targeted the NW-dipping magnetite gneiss units originally intersected in the diamond drilling programme and these units have now been intersected from surface to a depth of 150 metres. Significant intersections from both reconnaissance and infill programmes are shown in the following table.  

Table 1: Significant (>30% Fe over >10m) intersections from reconnaissance and infill drilling

Hole ID

Recon/ Infill

Depth from (m)

Depth to (m)

Length (m)

Fe (%)

SiO2 (%)

Al2O3 (%)

P (%)

LOI (%)

SDD001

Recon

0.0

15.8

15.8

30.2

41.7

9.5

0.04

4.71

SDD002

Recon

36.7

53.5

16.8

31.5

47.9

3.2

0.05

0.42

SDD003

Recon

0.0

36.5

36.5

32.1

44.2

5.3

0.04

2.59

SDD004

Recon

90.0

110.0

20.0

31.0

48.9

3.0

0.05

0.61

SDD005

Recon

0.0

31.1

31.1

41.0

28.1

7.9

0.05

4.79

SDD006

Recon

129.5

162.4

32.9

30.5

48.5

3.1

0.05

0.51

SDD006

Recon

168.3

181.4

13.1

32.5

50.0

1.5

0.04

0.55

SDD007

Recon

2.2

16.8

14.6

38.1

34.1

6.2

0.05

3.62

SDD007

Recon

54.2

86.0

31.8

30.0

49.3

3.3

0.06

0.51

SDD008

Recon

0.8

16.3

15.5

31.2

41.8

8.0

0.08

4.35

SDD008

Recon

27.0

62.2

35.2

31.4

47.9

2.9

0.05

0.55

SDD011

Recon

0.0

11.1

11.1

32.5

41.5

7.1

0.06

3.57

SDD012

Recon

14.0

72.5

58.5

30.2

49.4

3.1

0.05

0.40

SRC006

Infill

1.0

28.0

27.0

30.1

42.8

6.4

0.03

1.95

SRC006

Infill

31.0

65.0

34.0

30.4

46.0

4.2

0.03

0.42

SRC008

Infill

39.0

55.0

16.0

33.3

46.7

2.6

0.05

0.54

SRC009

Infill

0.0

35.0

35.0

36.9

37.0

5.8

0.04

3.02

SRC010

Infill

0.0

19.0

19.0

34.7

33.8

10.1

0.04

6.26

SRC010

Infill

24.0

35.0

11.0

33.3

43.7

4.8

0.06

3.32

SRC013

Infill

2.0

14.0

12.0

30.7

46.4

5.1

0.04

3.61

SRC016

Infill

1.0

21.0

20.0

30.6

46.5

5.2

0.03

3.10

SRC018

Infill

0.0

27.0

27.0

34.4

44.1

3.7

0.05

1.77

SRC021

Infill

41.0

66.0

25.0

34.7

45.3

2.2

0.05

0.63

SRC022

Infill

1.0

56.0

55.0

32.7

47.9

3.3

0.05

0.58

SRC023

Infill

81.0

97.0

16.0

30.4

48.3

3.7

0.06

0.40

SRC024

Infill

0.0

11.0

11.0

33.6

25.5

16.6

0.07

9.18

SRC024

Infill

25.0

45.0

20.0

30.3

49.9

3.1

0.05

0.46

* Downhole intersection lengths reported above approximate true thicknesses

Inclined infill drilling was carried out along fence lines (Figure 2) spaced an average of 250-300 metres apart.

Brad Mills, President of WAFM, commented: 

“The combined drilling programmes provide a sufficient data base to complete a maiden mineral resource estimate for the South Sanaga license.  The results of the initial metallurgical test work performed to date and announced in October, were that a premium concentrate of approximately 69% Fe can be produced with insignificant impurities.  The project’s close location to the existing infrastructure in Cameroon of just 60 km to the commercial seaport of Douala, 10km to the main rail line and just 5 km to main line power significantly enhances the potential economics and provides a shorter timeline to production.  

 

“With the completion of the MRE, the Company is focused on preserving its cash resources estimated at over US$7.1 million at the end of September 2014.   In the meantime we will continue to complete minimal cost de-risking activities on the South Sanaga project with a view to generating significant real value for shareholders once the current iron ore pricing environment improves.”   

Metallurgical Test Work at South Sanaga

As disclosed in the press release of 21 October 2014, preliminary metallurgical test work was conducted by ALS Laboratories on a total of eleven samples, seven samples of fresh, and four samples of oxidised magnetite-bearing gneiss.

Davis Tube Recovery (DTR) magnetic separation at a grind size of 75 µm yielded concentrates of approximately 69% Fe at average mass recoveries of 48% for fresh, and 35% for oxidised material.

Table 2: DTR Summary (1.8A, 3500 Gauss)

Ore type

Grind Size
(µm)

Feed Grade
(%)

Conc. Fe
(%)

Mass Recovery (%)

SiO2
(%)

Al2O3
%

P (%)

Fresh

75

36.0

68.9

48.3

3.3

0.7

0.00

Oxidised

75

34.5

69.3

35.4

1.6

0.8

0.01

QUALIFIED PERSON

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 leases herein referenced 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 (416) 722-2456

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish

Michael Cornish

 

+44 (0)20 7628 3396

SP Angel Corporate Finance LLP (Broker)

Ewan Leggat

 

+44 (0) 20 3463 2260

GTH Communications

Toby Hall

+44 (0) 20 7822 7493 / +44 (0)7713 341072

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 exploration licenses in Cameroon spanning the coastal regions to the larger scale southeast deposits.  Maiden Inferred Mineral Resources have been reported at the near-coastal Binga and the South Djadom licenses. The Sierra Leone licenses have demonstrated potential for enriched hematite schists typical of the Marampa Group. 

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

Glossary of terms

Fe

Chemical symbol for iron.

Magnetite

One of the most common iron minerals and an important ore of iron with the chemical formula. Fe3O4

Magnetite gneiss

Metamorphic rock with a distinctive layered texture due to the discontinuous segregation of quartzo-feldspathic and ferromagnesian minerals. Magnetite can form up to 50% in this iron-rich variety of gneiss.

Hematite

The principal ore mineral of iron with the chemical formula Fe2O3.

  Schist

A metamorphic rock having a foliated, or plated, structure called schistosity in which the component flaky minerals are distinguished from the other foliated rocks, slates and gneisses by the size of their mineral crystals, being smaller than those of gneisses.

Davis tube recovery (DTR)

A testing method for determining the viability of magnetic concentration of iron ores.  A slurried sample is poured slowly through a glass tube at a 45° angle between two electromagnets and the recovered iron is ascertained.

Microns/micrometres (µm)

One thousandth of a millimetre.

Inferred Mineral Resource

An Inferred Mineral Resource is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity.

Reverse circulation drilling (RC)

A drilling method that utilizes a large rotary drill and air compressor to collect rock samples quickly and efficiently. The high speed and low cost of RC drilling makes it an ideal method for obtaining mineral samples.

 

 

ENDS

 

Figure 1

Sanaga Map

 

Figure 2

South Sanaga Drilling Results

* Significant (>30% Fe over >10m) intersections

** Downhole intersection lengths reported above approximate true thicknesses