TSX VENTURE EXCHANGE: WAI
VANCOUVER, March 21, 2012 /CNW/ - West African Iron Ore Corp. (TSXV: WAI) West African Iron Ore Corp. ("WAI" or the "Company") is pleased to report start of an 8,000 meter reverse circulation drilling campaign on the Wondima target. The prospect was discovered as a result of a follow-up geological mapping and surface sampling progamme over the northern portion of the Forecariah property.
The Wondima target is an extensive iron bearing layered prospect that has been identified along the northern extension of the Sambalama/Kalyadi magnetic anomaly (see map http://www.westafricanironore.com/pdfs/Map-Wondima_Plateau.pdf). The central part of the target consists of about 26km² of raised plateau with a flat and hard iron rich cap. Two hundred and twenty four surface samples were collected from the target area during mapping and the average Fe content was estimated to be 34.73% using a hand held NITON XRF. Deleterious elements were also analyzed and provide the following results:
A test pit initiated on the Wondima target reached 2m in depth and encountered continuous hematite-rich hard laterite. The pit results were sufficiently encouraging for the Company to mount an 8,000 metre RC drilling program across the whole plateau area so as to make a quick evaluation of the target.
To date, the Company has completed 9 reverse circulation drill holes, 6 of which were analyzed using a NITON XRF. The following results were obtained:
|AMARC085||13m||35.43||1.17||3||< td>||< td>|
|AMARC086||10m||25.39||2.63||3.2||< td>||< td>|
|AMARC087||11m||31.68||1.64||2.98||< td>||< td>|
|AMARC088||18m||30.46||2.98||2.98||< td>||< td>|
|AMARC089||13m||36.31||1.04||2.63||< td>||< td>|
|AMARC090||18m||30.31||1.92||3.14||< td>||< td>|
Legend: < p>
"These initial results on the Wondima target are very encouraging, pending further confirmation by SGS Canada", stated Guy Duport the CEO of West African Iron Ore Corp.
The Company has also received the initial interpretation of the detailed ground gravimetric survey by SRK Consulting (Australia) Ltd. conducted over Sambalama South and Kalyadi North targets. The gravity data were collected by Fugro ground Geophysics (Fugro) on a 75 x 25 meter grid.
Sambalama South Target:
The gravity map over Sambalama South target has revealed a series of high gravity anomalies striking N-S and coincident to the highest part of the magnetic anomaly. The magnetic anomaly is interpreted as magnetite-quartzite which was also expected to provide the highest gravity contrast.
The width of the main Sambalama South gravity anomaly is 350 meters, and the modeled anomaly is almost a kilometer long (see map http://www.westafricanironore.com/pdfs/3d-Sambalama_South-grav.jpg). The Sambalama South gravity anomaly is consistent with the intersections of magnetite mineralization in drilling and therefore can be used to quickly delineate the Sambalama magnetite iron resources.
The Company completed 72 drill holes on the Sambalama South target. Of these, 32 holes have already been assayed and the assay results for the rest are pending.
Kalyadi North Target:
The gravity anomaly revealed over Kalyadi North target appears to be more extensive than at Sambalama: It is about 500m wide and almost 2km long. The previous drill holes completed over Kalyadi target were not optimally positioned (see map http://www.westafricanironore.com/pdfs/3d-Kalyadi_North-grav.jpg) and the Company now plans to follow up the gravity data by drilling. The Company believes that the Kalyadi and Sambalama targets will provide significant magnetite iron resources in addition to the more extensive hematite-goethite shallow iron resources.
The Company drilled 12 holes in Kalyadi North. The samples for these are pending assaying and compilation.
Sampling and Quality Control:
The Company prepared all cuttings, on site, from the reverse circulation-drilling program. SRK Consulting of Australia inspected our facility and confirmed our quality control program. All samples analysed were conducted by SGS Canada Inc. in Lakefield, Ontario in Canada. The Company maintains a systematic quality control program including the use of standards, blanks, duplicates, and an independent check laboratory. The DDH (Diamond Drill Hole) Assay samples collected are sent to SGS South Africa (Pty) Ltd., and the RCH (Reverse Circulation Hole) assay samples are sent 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
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.
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