African Aura Mining (LON:AAAM), the mineral exploration group working on gold and iron ore projects in sub-Saharan Africa, has reported a strong set of results from the latest drill work at its 100% owned New Liberty gold deposit in western Liberia. The findings include the identification of a new mineralised zone, which the company said had the potential to add more ounces to the project.

The New Liberty gold deposit is classic Archaean shear zone hosted greenstone gold deposit. The project contains an NI 43-101 compliant measured and indicated resource of 1.38m ounces of gold at a grade of 3.18 grams per ton (g/t) projected to a depth of 300m, comprising three zones along a 1.75km strike length. In March, African Aura’s chief executive, Luis da Silva, spoke to Stockopedia about the company’s current operations. You can listen to the podcast interview here: African Aura Mining.

Among the highlights from recent drilling, which has shown that the ore body extends below 300m, were 4.94g/t of gold over 10m in hole KGD136 from a depth of 379m and 4.42g/t of gold over 8m in KGD133 at a depth of 447m. The best drill intersect from New Liberty is currently 8.45 g/t of gold over 37m from 55m depth and the deposit, which crops out at surface, remains open at depth. Metallurgical testwork undertaken by African Aura on drill core from New Liberty has indicated a non-refractory ore with excellent expected recoveries of up to 93%. In addition, the newly discovered Latiff Zone is approximately 235m long and lies 40m west of the Kinjor zone and 130m east and the Larjor zone. As with all zones at New Liberty the Latiff zone remains open at depth and the company said it considered that its discovery could only enhance the project's open pit mining potential.

Speaking today, Luis da Silva said: “We are pleased to be delivering on our promises made to our shareholders. The holes being announced today, which conclude the results from the initial drilling campaign, have returned some of the strongest gold intercepts to date at New Liberty. Follow up drilling is already underway on the Latiff Zone and I look forward to updating shareholders shortly with the results from this work and the scoping study, which is now entering its final stages.”

A scoping study by AMC Consultants is currently under…

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