West African Iron Ore Corp report encouraging assay results from the first 102 holes on its Wondima target. These results indicate an average grade of 30.52% Fe, the mineralization is sub-horizontal iron rich lateritic cap with and average thickness of 8.53 meters.
The Wondima target will form the basis of the Company maiden NI43-101 resource report that is expected to be completed during Q4 2012.
The Wondima target is an extensive iron bearing layered prospect that has been identified along the northern extension of the Sambalama/Kaliadi magnetic anomaly. The central part of the target where this drilling has been concentrated consists, as of today, of an area of 33km² out of a geophysical target of 64 km² of raised plateau with a flat and hard iron rich cap. Identified mineralization starts from surface to depth of up to 16 meters. WAI started drilling in this area in March 2012 on a grid on 400m X 400m and until July 7, 2012: 9,365 meters of Reverse Circulation drilling have been completed in 351 drill holes. A further 854 meters of drilling in 46 Diamond Drill Holes ("DDH") have also been completed; both RCH and DDH are drilled vertically. Our original proposed RCH drilling program was 8,000 meters. The size of the Wondima mineralization identified to date has doubled in size since our March 21, 2012 release. Our RCH drilling programme that is ongoing, will be extended in order to define total mineralization area of the Wondima target. The samples are being assayed at the Inspectorate America laboratory in Vancouver, Canada. Some interesting intercepts observed are as follows:
Encouraged by the success of the initial drilling and observing consistent results in grade and thickness, WAI believes that this drilling could form a firm basis for a future resource estimate. To further strengthen the confidence in any such estimate, an infill drill programme on a tighter, 200 x 200 m grid spacing is planned on the Wondima target once the current drilling grid is completed.
Mr Guy Duport CEO of West African Iron Ore Corp said that "These initial laboratory assay results on the Wondima target are extremely encouraging. We are anticipating that the other results still pending will demonstrate similar results. This news, coupled with our highly strategic location just 40kms from a proposed deep-water port together with the potentially low capital and operating expenditures that a simple, shallow, surface mining operation typically demonstrates, provides encouragement that our Forécariah project will develop into a mining project once the NI43-101 is complete.”
Source - West African Iron
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