African Aura Resources Ltd, an exploration company with iron, gold and uranium exploration activities in Cameroon and Liberia, said it has received encouraging results from the Nkout iron ore prospect on its 1,000 square kilometres Djoum licence in southern Cameroon.
A total of 44 samples were collected during reconnaissance exploration on an initial 3 by 3.75 kilometres area on the flank of the 10 kilometres long Nkout ridge. They returned a maximum grade of 65 percent iron, and an average grade of 54 percent.
The Djoum licence is held by the company's wholly-owned subsidiary Caminex SARL. African Aura considers that the dimensions of Nkout and surrounding hills represent a potentially economic iron deposit. The sub-region hosts a number of significant iron deposits which are currently under exploration and development including the 2.4 billion tonnes Mbalam deposit which is under development by Sundance Resources Ltd and located approximately 150 kilometres to the south east.
The Ministry of Industry Mines and Technology Development of Cameroon has issued a decree confirming that iron has been added to the list of target minerals covered by the Djoum exploration licence in southern Cameroon.
John Gray, chief executive officer, commented: “Nkout is strategically well located within a recognised iron ore province, close to existing infrastructure and lies between the 2.4 billion tonnes Mbalam iron deposit to the south east, and the site of a proposed deep water port at Kribi on the Atlantic coast. “
