West African Iron Ore Corp. phase one drilling continues to intersect high grade iron ore mineralization with potential Direct Shipping Ore (DSO) within iron-enriched cap across portion of Sambalama


VANCOUVER, Nov. 10, 2011 /CNW/ - West African Iron Ore Corp (TSX-V: WAI) West African Iron Ore (the "Company") is pleased to report the intersection of near surface and sub-surface, high-grade iron ore mineralization from its ongoing phase one drilling program. Results being reported include a set of three (3) diamond drill holes and a first set of partial results of six (6) reverse circulation (RC) drill holes, the mineralisation of 2 RC (SAMRC 001 and SAMRC 008) have the grades and chemistry to be shipped with minimal processing (Direct Shipping Ore or DSO).

The Company's Sambalama project is located 40km from the proposed deep-sea port as announced by the Guinean government, supporting a significant operating cost advantage over our West African peer group. It is particularly encouraging given that the mineralisation starts at surface and ends at depths which to date do not exceed 130 meters.

Diamond drill hole SAM 010 shows continuous iron mineralisation for 27 meters with average iron grade above 50% Fe. This drill hole's potential continuous length exceeds 120 meters at an average grade of 25% from 0 to 121 meters.

 SAM 010   From (m)   To (m)   T. Width (m)   % Fe total 
  94 121.6 27.6 51.28

SAM 007 drill hole shows continuous high-grade mineralization from 27 meters to 60 meters at an average grade of 36.7% Fe.

 SAM 007   From (m)   To (m)   T. Width (m)   % Fe total 
  27 60 33 36.74

Diamond drill hole SAM 008 recorded one magnetite intersection of 26.8% over a length of 14.2.

 SAM 008   From (m)   To (m)   T. Width (m)   % Fe total 
  37 51.2 14.2 26.85

Due to the highly friable nature of the oxidised zone, recovery of the near-surface iron-enriched cap has been poor on all diamond holes however; results from the reverse circulation drilling provided significantly better recoveries.

Reverse circulation holes SAMRC 001 and SAMRC 008 also confirmed the potential for Direct Shipping Ore (DSO). SGS Lakefield Canada analyses for the first 8 meters from surface yielded average grades of 64.95% Fe and 59.20% Fe for the two holes.

The table below represents partial results received to date on 19 reverse circulations holes. The remainder of the analyses are expected shortly.

 SAMRC 001   From (m)   To (m)   T. Width (m)   % Fe total 
  0 8 8 64.95

SAMRC 008  From (m)   To (m)   T. Width (m)   % Fe total 
DSO Potential 0 7 7 59.20
or 0 23 23 28.26

SAMRC 005  From (m)   To (m)   T. Width (m)   % Fe total 
SAMRC 005A 0 15 15 27.38
SAMRC 005B 37 44 7 25.60

 SAMRC 006   From (m)   To (m)   T. Width (m)   % Fe total 
  0 12 12 25.10

 SAMRC 007   From (m)   To (m)   T. Width (m)   % Fe total 
  0 8 8 44.21

 SAMRC 009   From (m)   To (m)   T. Width (m)   % Fe total 
  0 18 18 25.50

As announced in the 13th October 2011 press release, Davis Tube Recovery Tests (DTR) conducted on 88 selected composite samples from SAM 004 to SAM 006, indicated good recovery and grade >70% Fe for Fe contents ≥ to 25%.

"We are committed to an accelerated exploration program based on these encouraging phase one results," states Guy Duport, CEO of West African Iron Ore, "Further analyses are expected to confirm our belief that we have a high-grade project in one of the best locations in Guinea."

Samples from the oxidation zone as previously reported for SAM 002 and SAM 003 record high values of Fe, confirmed by current RC results SAMRC 001 and SAMRC 008, 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 meter magnetic anomaly and plans to complete an 8,000 meter RC hole program by the end of the next quarter. This will provide the Company sufficient data to complete its initial NI 43-101 resource. The Company is fully funded to achieve this milestone.

Correction to our release dated October 17, 2011: Mr. Mohamed Joe Bangoura's effective date of appointment as a director of the Company will be on December 9, 2011.

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.

Guy Duport

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.

SOURCE West African Iron Ore Corp.

For further information:

Guy Duport
Tel: 604-558-1198

Investor Relations
Vanguard Shareholder Solutions
Tel: 604-608-0824
Toll Free: 1-866-638-0824

Profil de l'entreprise

West African Iron Ore Corp.

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