Afferro Mining has unearthed another sizeable exploration target after reconnaissance drilling at Ntem in Cameroon found extensive traces of iron ore.

The explorer said mineralized intersections occurred in 90% of drilling samples with grades between 37% and 47.5% iron from the surface or shallow depths.

Afferro added that the resource, which is open at depth and extends to the west, consists of a series of magnetite Banded Iron Formation zones. A phase 2 drilling program of approximately 4,750 meters is now planned, to quantify an initial resource.

The company is commissioning a scoping study to evaluate hauling any production by truck and also if it could use power from the Kribi power station due to be commissioned next year.

Mr Luis da Silva CEO of Afferro Mining said that "The encouraging results at Ntem provide Afferro with a new Greenfield exploration target of significant scale. Fe08, the first anomaly of a number of targets tested by reconnaissance drilling, remains open at depth, with western extensions."

He added that "It is strategically well located, less than 80 kilometers from the rapidly developing Kribi deep sea port and 10 kilometers to the north of the proposed South Cameroon Rail Corridor, which was recently highlighted as a planned route in the draft National Railway Master Plan by the Government of Cameroon."

Mr da Silva said that the project may become a scalable mining operation requiring a reduced capital investment.

Elsewhere in Cameroon, drilling results are expected imminently from the Ngoa target, which lies adjacent to Afferro's flagship Nkout iron ore project.

Mr da Silva added that "Field work at the Akonolinga project has been completed and results of surface sampling and pitting are due by the end of this year, at which point an initial drilling program can commence."

Source - Proactive Investors

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