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African Aura Mining Inc. - DRILLING AT NKOUT HITS SIGNIFICANT WIDTHS OF IRON ORE MINERALISATION

^{Published on 2010-09-21 04:10:54 - Market Wire}
 

 Highlights: - Up to 75m of hematite BIF and 195m of magnetite BIF intersected to date - First four holes completed for 950m of initial 4,200m programme - Nkout is defined by an 8km long intense geophysical target and range of hills - Further 12km of iron ore targets exist around Nkout as defined by geophysics - Previous grab sampling returned up to 68% Fe and averaged 55% Fe - The deposit is strategically very well located in an emerging iron ore province 

 ------------------------------------------------------------------------- Hole ID From To Width Geological Interpretation ------------------------------------------------------------------------- NKDD002 30.3 69.9 39.6 Haematite Magnetite BIF ------------------------------------------------------------------------- NKDD002 81.0 276.2 195.2 Magnetite BIF ------------------------------------------------------------------------- NKDD003 19.7 61.5 41.8 Haematite Magnetite BIF ------------------------------------------------------------------------- NKDD003 131.6 263.6 132.0 Magnetite BIF ------------------------------------------------------------------------- NKDD004 11.6 86.6 75.0 Haematite Magnetite BIF ------------------------------------------------------------------------- NKDD004 86.6 240.0 153.4 Magnetite BIF ------------------------------------------------------------------------- Notes: NKDD001 drilled for orientation purposes, whole terminated at 104.4m NKDD004 interruptions in sequence: 9.3m from 46.4m; 5.5m from 64.0m ------------------------------------------------------------------------- 

 ------------------------------------------------------------------------- Hole ID Easting Northing Elevation Azimuth Dip Depth ------------------------------------------------------------------------- NKDD001 254400 285773 692 360 -55 104.38 ------------------------------------------------------------------------- NKDD002 254406 286112 728 180 -45 290.71 ------------------------------------------------------------------------- NKDD003 254801 286231 766 180 -55 301.53 ------------------------------------------------------------------------- NKDD004 253800 286055 740 180 -50 350.86 ------------------------------------------------------------------------- NKDD005 254406 286312 728 180 -50 Underway ------------------------------------------------------------------------- 

 - The iron ore division includes its 38.5% interest in the Putu iron ore project in Liberia, which is moving through pre-feasibility managed by joint venture partner Severstal Resources (the mining division of Moscow listed OAO Severstal). The division also includes a 100% interest in the Nkout iron ore project and surrounding iron targets in Cameroon. - The gold division includes the 1.4 million ounce New Liberty gold deposit (NI 43-101 13.533Mt Measured & Indicated at 3.18 g/t Au), which is being advanced through a bankable feasibility study, and the proximal Weaju, Gondoja and Silver Hills projects, all in western Liberia.