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VANCOUVER, Nov. 22, 2011 /CNW/ – West African Iron Ore Corp (TSX-V: WAI) West African Iron Ore (“WAI” or the “Company”) is pleased to report substantial intersections of near surface and sub-surface, high-grade iron ore mineralisation from its on-going phase one drilling program. The current set of results just received from SGS analytical facilities in both South Africa and Canada include partial results for five (5) reverse circulation (RC) drill holes and complete results for SAMRC 011. The upper 8 to 12 metres of mineralisation of 3 RC (SAMRC 012, SAMRC 013 and SAMRC 018) appear to have the grades and chemistry to be shipped with minimal processing (Direct Shipping Ore or DSO).
The Company’s Sambalama project is located just 40km from the proposed deep-sea port recently announced by the Guinean government, potentially giving WAI’s project at Sambalama a significant operating cost advantage over other potential iron projects in West Africa. These latest set of results indicate that mineralisation starts at surface and is continuous over the length of the drill hole. Maximum hole depth is 130 meters.
SAMRC 011 shows continuous iron mineralisation from 0 to 120 meters (120m) with an average grade above 28% Fe. Within the continuous 120 meters of mineralisation, two higher-grade magnetite intersections were identified at a depth of 52 meters (43.45% Fe over an intercept of 23 metres) and at a depth starting from surface (32.09% Fe over an intercept of 32 metres).
| SAMRC 011 | From (m) | To (m) | T. Width (m) | % Fe total |
| 0 | 120 | 120 | 28.71 |
The table below represents partial results received to date on 19 reverse circulations holes. The remainder of the analyses are expected shortly.
| SAMRC 012 | From (m) | To (m) | T. Width (m) | % Fe total |
| DSO Potential | 0 | 8 | 8 | 57.30 |
| Total | 0 | 38 | 38 | 25.40 |
| SAMRC 013 | From (m) | To (m) | T. Width (m) | % Fe total |
| DSO Potential | 0 | 12 | 12 | 56.83 |
| Total | 0 | 42 | 42 | 26.16 |
| SAMRC 015 | From (m) | To (m) | T. Width (m) | % Fe total |
| 0 | 36 | 36 | 34.05 |
| SAMRC 017 | From (m) | To (m) | T. Width (m) | % Fe total |
| 0 | 26 | 26 | 32.81 |
| SAMRC 018 | From (m) | To (m) | T. Width (m) | % Fe total |
| DSO Potential | 0 | 10 | 10 | 57.14 |
| Total | 0 | 70 | 70 | 26.01 |
As announced on 13th October 2011, Davis Tube Recovery Tests (DTR) conducted on 88 selected composite samples from SAM 004 to SAM 006, indicated that the mineralisation can easily be upgraded with high recovery levels to produce a product with a grade of at least 70% Fe from feed with an iron content of as little as 25% Fe – indicating a simple beneficiation process.
“We are delighted with current results and on target to issue our first compliant NI43-101 resource report within the first 6 months of 2012,” states Guy Duport, CEO of West African Iron Ore, “Further exploration and analyses are expected to confirm Direct Shipping Ore potential, not only on our Sambalama prospect, but within 10 identified target zone covering a combined 45km strike magnetite anomalies over our Forécariah permit.”
Samples from the oxidation zone as previously reported for SAM 002, SAM 003, SAMRC 001 and SAMRC 008 record high values of Fe, confirmed by current RC results SAMRC 012, SAMRC 013 and SAMRC 018, reported above, within the Sambalama iron-enriched cap.
As a result of these encouraging results the Company has refocused its efforts along a 9,000 metre magnetic anomaly and plans to complete an aggressive 8,000 metre RC drill program by the end of the next quarter. This will provide the company sufficient data to complete the initial NI 43-101 resource report. The Company is fully funded to achieve this milestone.
Sampling and Quality Control
The Company maintains a systematic quality control program including the use of standards, blanks, duplicates, and an independent check laboratory. The DDH Assay samples collected are sent to SGS South Africa (Pty) ltd, and the RCH Assay samples to SGS Canada Inc. in Lakefield, Ontario. The performance of the quality control samples associated with these data indicates acceptable analytical quality. Please refer to the NI 43-101 Technical Report, which is filed on SEDAR and available on the Company’s website, for further discussion of sample methodology, detailed quality control procedures and other information regarding the project.
Jonathan Challis, FIMMM, is a qualified person under National Instrument 43-101, and has reviewed and is responsible for the contents of this news release.
ON BEHALF OF THE BOARD
Guy Duport
CEO
Statements in this release that are forward-looking statements are subject to various risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers should also refer to the specific factors disclosed under the heading “Risk Factors” in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
