Drilling Report - AfriOre Report
30 Mayo 2006 - 11:10AM
UK Regulatory
AfriOre NI 43-101 Report on Akanani Platinum Project
Initial Mineral Resource Estimate Filed on SEDAR
TSX/AIM:AFO
ROAD TOWN, Tortola, British Virgin Islands, May 30 /CNW/ - AfriOre
Limited ("AfriOre" or the "Company") (TSX/AIM:AFO) is pleased to announce that
further to its May 11, 2006 press release, a National Instrument 43-101
("NI 43-101") technical report has been filed on SEDAR for the Company's
Akanani Platinum Project in South Africa's Bushveld Complex. The report
presents an initial inferred mineral resource estimate of 183.0 Mt at a grade
of 4.5 g/t PGM (platinum, palladium, rhodium plus gold (collectively "PGM
(4E)"), which equates to 26.4 million ounces of PGM (4E) and 0.24% nickel and
0.14% copper over an estimated true width of 16.6 m.
The report, entitled "AfriOre Limited: Akanani Platinum Project, Limpopo
Province, South Africa, Project No. J883" and dated May 29, 2006, was written
by Mr. J.C. Witley (Pr.Sci.Nat.) of Snowden Mining Industry Consultants
("Snowden"). Mr. Witley is registered as a Professional Natural Scientist with
the South African Council for Natural Scientific Professions (SACNASP) and is
a Qualified Person within the meaning of NI 43-101. Snowden is an
international minerals consultancy group, independent of AfriOre.
About AfriOre Limited
AfriOre is a TSX- and AIM-listed company focused on its 74%-owned, 4,095
ha Akanani Platinum Project, located on the northern limb of South Africa's
Bushveld Complex. AfriOre's Exploration and Management Team has extensive
experience in platinum projects in South Africa, where the Company maintains
aggressive exploration and acquisition programs. AfriOre's Management has a
successful history of creating shareholder value through the exploration and
advancement of projects.
AfriOre has a treasury of approximately CDN$ 24.6M. The Company has
50,440,869 shares outstanding and 54,598,402 shares fully diluted. For
additional information on AfriOre and its projects visit the Company's website
at www.afriore.com
Forward Looking Statements
This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will
or may occur in the future (including, without limitation, statements
regarding the Company's plans with respect to the exploration and development
of the Akanani Platinum Project) are forward-looking statements. These forward-
looking statements reflect the current expectations or beliefs of the Company
based on information currently available to the Company. Forward-looking
statements are subject to a number of risks and uncertainties that may cause
the actual results of the Company to differ materially from those discussed in
the forward-looking statements, and even if such actual results are realized
or substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on the Company. Factors that could cause
actual results or events to differ materially from current expectations
include, among other things, changes in PGM prices, changes in equity markets,
political risks arising from operating in Africa, changes to regulations
affecting the Company's activities, uncertainties relating to the availability
and costs of financing needed in the future, the uncertainties involved in
interpreting drilling results and other ecological data, and the other risks
involved in the mineral exploration and development industry. Any forward-
looking statement speaks only as of the date on which it is made and, except
as may be required by applicable securities laws, the Company disclaims any
intent or obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise. Although the
Company believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not guarantees of
future performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein. The inferred mineral
resource figures disclosed in this press release are estimates and no
assurances can be given that the indicated levels of minerals will be
produced. Such estimates are expressions of judgment based on knowledge,
mining experience, analysis of drilling results and industry practices. Valid
estimates made at a given time may significantly change when new information
becomes available. While the Company believes that the resource estimate
included in this press release is well established, by their nature resource
estimates are imprecise and depend, to a certain extent, upon statistical
inferences which may ultimately prove unreliable. Mineral resources are not
mineral reserves and do not have demonstrated economic viability. Measured and
indicated mineral resources are sufficiently well defined to allow geological
and grade continuity to be reasonably assumed and permit the application of
technical and economic parameters in assessing the economic viability of the
resource. Inferred mineral resources are estimated on limited information not
sufficient to verify geological and grade continuity or to allow technical and
economic parameters to be applied. Inferred mineral resources are too
speculative geologically to have economic considerations applied to them to
enable them to be categorized as mineral reserves. There is no certainty that
mineral resources can be upgraded to mineral reserves through continued
exploration.
For further information: Fiona Childe, Ph.D., P.Geo., VP Corporate
Communications, Tau Capital Corp., Tel: (416) 361-9636 x 227,
Email:fchilde(at)taucapital.com
(AFO.)
END
Afriore (LSE:AFO)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Afriore (LSE:AFO)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024