WAFM says infill drilling at South Sanaga completed

West African Minerals Corporation said the RC infill drilling programme at the South Sanaga license was completed on a total of 2,214 metres drilled in thirty-seven holes (SRC004 to 040).

The Company has now generated sufficient data to complete a maiden mineral resource estimate in 2015.

Assay results have been received for RC infill holes SRC006 to SRC024; all other outstanding assays are expected by the end of the year. Inclusive of the previously reported 1,729 metres of reconnaissance diamond core drilling in seventeen holes, a total of 3,943 metres of drilling on South Sanaga has been completed to date.

Drilling targeted the NW-dipping magnetite gneiss units originally intersected in the diamond drilling programme and these units have now been intersected from surface to a depth of 150 metres.

President Brad Mills commented: "The combined drilling programmes provide a sufficient data base to complete a maiden mineral resource estimate for the South Sanaga license. The results of the initial metallurgical test work performed to date and announced in October, were that a premium concentrate of approximately 69% Fe can be produced with insignificant impurities."

The project's close location to the existing infrastructure in Cameroon of just 60 km to the commercial seaport of Douala, 10km to the main rail line and just 5 km to main line power significantly enhances the potential economics and provides a shorter timeline to production.

"With the completion of the MRE, the Company is focused on preserving its cash resources estimated at over US$7.1 million at the end of September 2014. In the meantime we will continue to complete minimal cost de-risking activities on the South Sanaga project with a view to generating significant real value for shareholders once the current iron ore pricing environment improves."