Testwork confirms saleable magnetite at WAFM’s Binga project in Cameroon

14 April 2014 (Last Updated April 14th, 2014 18:30)

Preliminary metallurgical test results on magnetite-bearing iron-ore from West African Minerals’ (WAFM) Binga iron-ore project in Cameroon have confirmed the presence of saleable magnetite concentrate, ranging from 61% to 64% iron.

Preliminary metallurgical test results on magnetite-bearing iron-ore from West African Minerals' (WAFM) Binga iron-ore project in Cameroon have confirmed the presence of saleable magnetite concentrate, ranging from 61% to 64% iron.

The project is located around 80km from the Kribi deepwater port in south-west Cameroon.

Approximately 25% of the mined material could potentially be rejected after crushing through low-intensity magnetic separation, while product mass yield ranged between 30% and 35% and iron recovery of 69% to 75% on grind sizes of 106µm and 300µm.

The company said the results indicated a potential process benefit of lower mill power and operating cost compared with existing magnetite concentrators.

"These positive metallurgical results and Binga's proximity to the developing port infrastructure, present a significant opportunity for the company to develop a relatively low capital and operating cost operation that could allow us to generate cash-flow."

West African Minerals president Brad Mills said: "These positive metallurgical results and Binga's proximity to the developing port infrastructure, present a significant opportunity for the company to develop a relatively low capital and operating cost operation that could allow us to generate cash-flow.

"They also provide key input parameters to progress with our economic analyses and studies of the project, which will inform the work programme for the remainder of the year.

"Pending positive outcomes our goal is to complete significant additional drilling to increase the resource base at Binga and complete studies of haulage and shipping options which will all form the elements required to deliver a Preliminary Economic Assessment of Binga by the end of this year."

The ongoing surface geological mapping and sampling at the company's Lélé and Djadom licenses has also confirmed several prospective iron ore targets.

The company noted that targets will require additional field work in preparation for drill testing. Mapping and sampling have also started on the company's other near-coastal Sanaga licence with encouraging early results.

Through its 100% owned subsidiary Compagnie Minière du Cameroun, West African Minerals owns five exploration licenses in Cameroon covering a total block of about 4,100km² and spanning the coast to the large scale eastern deposits.

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