Aurora Minerals Limited is pleased to announce the results of an independent technical research report completed in late January 2010 on its high-grade manganese discovery at its Capricorn South East Project, central Western Australia. The Independent Technical Report states: Aurora has discovered an extensive zone of manganese mineralization in the Bangemall Basin, Western Australia. Surface sampling has indicated a range of values which are comparable with the Woodie Woodie deposit which is currently in production and rank as high grade material worldwide, defined as greater than 44% Mn. The Capricorn South East prospective zone extends over 95 kilometres in strike length and the tenor of mineralization is consistent wherever it has been sampled. Manganese rich zones have also been identified within lateritic material adjacent to the main outcrops. The bedrock Manganese mineralization is demonstrated to be massive in the outcrops examined, occurring as pods and lenses along the strike of the mid-Proterozoic Ullawarra Formation. The depth extent has yet to be confirmed by drilling, which Aurora plans to commence in early 2010. This discovery zone is of major importance and has the potential to supply a significant part of world demand. Prices are currently quoted at over A$300 per tonne of 42% Mn mine product. The next step is to undertake drilling to determine the depth extent and distribution of the mineralization, beneficiation testwork to determine the manganese upgrade characteristics and then, with positive results, to define a resource in accordance with the JORC code and move to feasibility studies at an early stage if appropriate. The report concludes: There is little doubt that the Capricorn Southeast manganese discovery has the potential to be a world class deposit.
ARM Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
