Shares in Afferro Mining said that it has identified a significant target within its Ntem iron ore permit in south west Cameroon.

Following interpretation of the latest airborne geophysical survey over the property, the company said it has identified a number of prospective targets at Ntem.

The strongest of these displays magnetic properties similar to those of the company projects in Putu in Liberia and Nkout in Cameroon. The target has a strike length of approximately two kilometres and is one kilometer wide.

Afferro said it will undertake a systematic geological exploration program leading to reconnaissance drilling in the first quarter of 2012.

Mr Luis da Silva CEO of Afferro Mining said "This latest interpretation is significant for the company in terms of strengthening our project portfolio and implementing our strategy in Cameroon, where we have already made considerable progress with our Nkout iron ore project.”

He said that “The Ntem project is located 80 kilometres from the coast and close to the same proposed railway infrastructure that the company's Nkout project is expected to use. We look forward to the results of the grab sampling and subsequent reconnaissance drilling in early 2012."

Ntem, like Nkout, would have access to the Kribi deep water port which is currently under construction and is near the proposed rail corridor through the south of the country.

This strengthens the company's strategy in southern Cameroon, where all its other licenses lie further east along this same rail corridor.

Nkout, Afferro advanced project, has an NI 43-101 compliant resource of 1.42 billion tonnes of iron ore at 33.6% Fe, 700.5 million tonnes in the indicated category and 716.5 million tonnes classified as inferred.

(Sourced from www.proactiveinvestors.co.uk)