African Aura Files 43-101 Technical Report
December 08 2010 - 2:00AM
UK Regulatory
TIDMAAAM
RNS Number : 5544X
African Aura Mining Inc.
08 December 2010
NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE
SERVICES
8 December 2010
TSX-V: AUR
AIM: AAAM
African Aura Mining Inc.
AFRICAN AURA FILES 43-101 TECHNICAL REPORT ON NEW LIBERTY GOLD PROJECT
8 December 2010, African Aura Mining Inc. ("African Aura" or the "Company") the
TSX-V (AUR) and AIM (AAAM) listed exploration and development company with
divisions focused on iron ore and gold projects in sub-Saharan Africa, announces
the filing of a technical report pursuant to National Instrument 43 101,
relating to the Company's 100% owned New Liberty gold project located in western
Liberia. This follows the news release dated 17 November 2010 announcing the
resource statement.
With this news release, the Company is reporting the filing as required under
the National Instrument 51-101. A copy of the document may be obtained via
www.sedar.com. The previously announced highlights of the New Liberty gold
project are as follows:
· Resources and grade increased to 1.51 million ounces at 3.78 g/t Au
o 5,599,000t at 4.17 g/t (for 751,000 ounces) in the indicated category; and
o 7,040,000t at 3.40 g/t (for 762,000 ounces) in the inferred category
· Entire indicated resource is within potential open pittable depth from
surface
· Management is targeting a production profile of approximately 100,000
ounce per year for the open pittable material
· Deposit remains open at depth and along strike
· Resource model will be incorporated into a Preliminary Economic
Assessment this December
About African Aura Mining Inc.
African Aura is an established exploration and development company listed on the
TSX-V (AUR) and London's AIM (AAAM). The Company operates two divisions, namely:
iron ore and gold:
- 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). In September 2010 Putu was granted a 25 year renewable Mineral
Development Agreement by the Government of Liberia. The division also includes a
100% interest in the Nkout iron ore project and surrounding iron targets in
Cameroon which is subject to a resource definition drilling programme.
- The gold division includes the multi million ounce potential New Liberty
greenstone gold deposit, which is being advanced through a bankable feasibility
study, and the proximal Ndablama, Weaju, Silver Hills and Gondoja gold projects
all within the Company's Bea Mountain 25 year renewable Mineral Development
Agreement.
In addition, the Company presently has a 22% interest in AIM-listed diamond
producer Stellar Diamonds Plc (AIM: STEL, www.stellar-diamonds.com).
The Company has a highly motivated and experienced team with a track record of
discovering mines and taking projects through development and into production.
As a pioneer, African Aura has attracted some excellent strategic partners and
shareholders, always with the objective of preserving or enhancing shareholder
value. For further information on the Company you are invited to visit its
website at www.african-aura.com, or SEDAR's website at www.sedar.com.
For further information, please contact:
+---------------------------------+---------------------------------+
| African Aura Mining Inc. | Tel: +44 (0) 20 7257 2930 |
| Luis da Silva, President & CEO | |
| | |
+---------------------------------+---------------------------------+
| Evolution Securities Limited | Tel: +44 (0) 20 7071 4300 |
| Simon Edwards / Tim Redfern | |
| | |
+---------------------------------+---------------------------------+
| Pelham Bell Pottinger | Tel: +44 (0) 20 7861 3232 |
| Charles Vivian / James | |
| MacFarlane | |
| | |
+---------------------------------+---------------------------------+
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
ANNOUNCEMENT.
This Announcement has been issued by and is the sole responsibility of the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by Evolution or by any of its respective affiliates or agents as to or
in relation to, the accuracy or completeness of this Announcement or any other
written or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is expressly
disclaimed.
Evolution is acting as Global Co-ordinator and Sole Bookrunner in connection
with the Placing. Evolution, which is authorised and regulated by the Financial
Services Authority, is acting for the Company in connection with the Placing and
will not be responsible to anyone other than the Company for providing the
protections afforded to the clients of Evolution nor for providing advice in
relation to the Placing or any other matter referred to herein.
The distribution of this Announcement and the Placing of the Placing Shares in
certain jurisdictions may be restricted by law. No action has been taken by the
Company or Evolution that would permit an offering of such shares or possession
or distribution of this Announcement or any other offering or publicity material
relating to such shares in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are required by
the Company and Evolution to inform themselves about, and to observe, such
restrictions.
The information in this Announcement shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of, the
securities referred to herein in any jurisdiction in which such offer,
solicitation or sale would require preparation of any prospectus or other offer
documentation, or be unlawful prior to registration, exemption from registration
or qualification under the securities laws of any such jurisdiction.
No public offer of securities of the Company is being made in the United
Kingdom, the United States, Canada or elsewhere. The information in this
Announcement does not constitute or form a part of any offer or solicitation to
purchase or subscribe for securities in the United States. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933 (the "Securities Act") nor the security laws of
any state or other jurisdiction of the United States. The securities mentioned
herein may not be offered or sold in the United States except pursuant to
Regulation S under the Securities Act or another exemption from, or transaction
not subject to, the registration requirements of the Securities Act. There will
be no public offer of securities in the United States.
The information in this Announcement may not be forwarded or distributed to any
other person and may not be reproduced in any manner whatsoever. Any forwarding,
distribution, reproduction, or disclosure of this information in whole or in
part is unauthorised. Failure to comply with this directive may result in a
violation of the Securities Act or the applicable laws of other jurisdictions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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