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Additional Information
Market: AIM: AAAM / TSX-V
Sector: General Mining
Epic: AUR
News: Latest news
Web Site: African Aura Mining
Other Articles: 27-07-201020-07-201020-07-2010 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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African Aura Mining

African Aura Mining

African Aura Mining Inc was formed out of the merger of Mano River Resources (whose shareholders emerged with 75% of the combined total) and African Aura Resources (25%). The amalgamated company, listed on the TSX-V and on London's AIM, has an impressive African exploration and development pedigree. African Aura is focused on the development of world-class gold and iron-ore deposits in sub-Saharan Africa. African Aura's assets include the New Liberty gold deposit and the Putu iron-ore project, both in Liberia and the Nkout gold deposit and the Batouri gold project in Cameroon. The company also has a 59% interest in diamond producer Stellar Diamonds Ltd, which has recently merged with West African Diamonds.

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Wednesday, March 17, 2010

African Aura says Putu iron ore project on track, targets 2 bln tonnes resource

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African Aura Mining (AIM: AAAM, TSX-V: AUR) said its Putu iron ore project was fully on track as the target of at least 1 billion tonnes of NI 43-101 compliant resource has already been achieved, with a “significantly larger” resource anticipated by the company and its joint venture partner Severstal.

The next phase of drilling, which is set to begin in Q2 2010 and cover some 60,000 metres, is currently being guided by data from the ground and airborne geophysical surveys with metallurgical test work undertaken in parallel.

“Preparation of support infrastructure for this drilling programme, including construction of a new exploration camp, establishment of new access roads, and expansion of the project team with largely Liberian professionals, is also well underway. The project remains firmly on track and I look forward to updating shareholders on progress in due course,” said president and chief executive of African Aura Luis da Silva.

The Putu project currently has a resource of 1.08 billion tonnes at 37.6% Fe (iron) defined from 2.6 km (kilometres) of project's 12 km (kilometre) strike. The JV is now targeting an unweathered magnetite itabirite resource of at least 2 billion tonnes, which would be sufficient to support a project capable of producing and bringing to market 20 Mt (million tonnes) of magnetite concentrate annually.

A pre-feasibility study (PFS) is expected to be completed during 2012 with a definitive feasibility study (DFS) expected 18 months thereafter.

The JV has already reached an agreement in principal with the government of Liberia over the key commercial and fiscal terms of the 25 year mineral development agreement. The company said that a recent visit from Liberian President Ellen Johnson Sirleaf to the Putu site is viewed as a “considerable endorsement” of the project and what the JV is seeing to achieve in Liberia.

Severstal Resources is currently investing US$30 million towards completion of a PFS to earn a 61.5% interest in the project. The company holds a 4.72% stake in African Aura.

African Aura’s iron ore division holds a 38.5% interest in Putu and a 100% interest in the Nkout iron ore project and surrounding iron targets in Cameroon. The gold division includes the New Liberty greenstone gold deposit with a current 43-101 Resource of 1.4 Moz (million ounces), which is being advanced through a bankable feasibility study, and the proximal Weaju, Gondoja and Silver Hills projects all in western Liberia. The diamond division is represented by a 32% interest in AIM listed diamond producer Stellar Diamonds (AIM: STEL).

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