African Metals Corporation
TSX VENTURE : AFR
FRANKFURT : OWW

African Metals Corporation

February 14, 2011 09:31 ET

African Metals Assay Results from Stockpile Drilling Highlight Zones of Significant Copper and Cobalt Mineralization, Luisha South Project, Katanga Province, Democratic Republic of Congo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2011) - Nigel Ferguson, the President of African Metals Corporation (TSX VENTURE:AFR)(FRANKFURT:OWW) is pleased to report that the Company has received final assay results from the 42 Reverse Circulation (RC) drill holes completed on the stockpile at its Luisha South Project in the Katanga Provence of Democratic Republic of Congo.

HIGHLIGHTS

A 42 hole, reverse circulation (RC) drilling program conducted on top of the historic Luisha South open pit stockpile produced 416 samples from 383 metres of drilling. 

Analytical results of the RC samples indicate that the stockpile hosts zones of elevated grades of copper (>1%) and cobalt (>1%) mineralization. Similar assay results were produced by excavator sampling conducted by Strathcona in 2007 and reported in 2008. Significant Length Weighted Average (LWA) drill intercepts include:

  • 7 metres at 0.59% copper, 1.15% cobalt from 0 metres (SPRC018)
     
  • 8 metres at 0.54% copper, 1.04% cobalt from 0 metres (SPRC019)
     
  • 6 metres at 0.79% copper, 1.04% cobalt from 0 metres (SPRC020)
     
  • 9 metres at 2.63% copper, 0.52% cobalt from 0 metres (SPRC021)
     
  • 11 metres at 3.82% copper, 0.94% cobalt from 0 metres (SPRC026)
     
  • 8 metres at 2.47% copper, 0.38% cobalt from 0 metres (SPRC027)
     
  • 8 metres at 2.53% copper, 0.46% cobalt from 0 metres (SPRC028)
     
  • 9 metres at 1.82% copper, 0.16% cobalt from 0 metres (SPRC029)
     
  • 10 metres at 2.19% copper, 0.36% cobalt from 0 metres (SPRC030)
     
  • 8 metres at 2.21% copper, 0.33% cobalt from 0 metres (SPRC033)
     
  • 7 metres at 0.94% copper, 1.06% cobalt from 0 metres (SPRC038)

Luisha South Project Stockpile RC Drilling

In October 2010, Magnum Drilling Sprl completed a 42 hole, Reverse Circulation (RC) drilling program on top of the Luisha South stockpile (Table 1, Figures 1).

To view figures 1, 2 and 3 please go to the following link: http://media3.marketwire.com/docs/afr214.pdf.

Union Minière du Haut-Katanga (UMHK), an historic mining company, conducted open pit mining of the Luisha South deposit between 1913 and 1939. The stockpile represents the remnants of the ore that was processed during this period.

The RC program produced 416 samples including QC controls from 383 metres of drilling. The RC program was designed to highlight the potential copper and cobalt grades of the stockpile, and their respective spatial distribution.

Samples were collected at one meter intervals, and riffle split to produce approximately one kilogram samples for analysis. All samples including QC controls were dispatched to ALS Laboratories in Johannesburg, South Africa, for sample processing and analysis. All samples were analyzed by method ME-ICP61 following sample prep and a 4 acid digest. The analytical results of the QC samples (standards, blanks, and field duplicates) were within acceptable limits.

Anomalous length weighted drill intercepts based on 0.1% Cu cut off are summarised in Table 1.

Hole
Number
East North RL Total
Depth
(m
) Azimuth
) Dip
) From
(m
) Width
(m
) Copper
% Cobalt
%
SPRC001 502072 8764155 1266 11   360   -90   4   4 *   1.27   1.09  
SPRC002 502049 8764176 1266 10   360   -90   0   9   0.55   0.53  
SPRC003 502023 8764200 1267 7   360   -90   0   3 *   0.18   0.44  
SPRC004 501997 8764226 1267 8   360   -90   0   3 *   0.08   0.18  
SPRC005 501974 8764251 1266 4   360   -90   0   3 *   0.36   0.22  
SPRC006 501949 8764274 1266 8   360   -90   0   8   0.27   0.36  
SPRC007 502099 8764178 1266 10   360   -90   0   9   0.34   0.43  
SPRC008 502076 8764201 1267 10   360   -90   0   8   0.16   0.32  
SPRC009 502046 8764224 1266 9   360   -90   0   7   0.21   0.31  
SPRC010 502023 8764250 1266 10   360   -90   0   3 *   0.94   0.41  
SPRC011 502007 8764269 1265 7   360   -90   0   7 *   0.00   0.00  
SPRC012 502146 8764178 1265 8   360   -90   0   6   0.53   0.26  
SPRC013 502124 8764203 1266 10   360   -90   0   7   0.27   0.45  
SPRC014 502101 8764227 1266 10   360   -90   0   7   0.12   0.23  
SPRC015 502076 8764250 1266 10   360   -90   0   9   0.15   0.26  
SPRC016 502049 8764279 1265 10   360   -90   0   8   0.73   0.29  
SPRC017 502166 8764209 1265 9   360   -90   0   7   0.77   0.91  
SPRC018 502149 8764227 1265 8   360   -90   0   7   0.59   1.15  
SPRC019 502122 8764250 1266 10   360   -90   0   8   0.54   1.04  
SPRC020 502100 8764278 1266 10   360   -90   0   6   0.79   1.04  
SPRC021 502072 8764303 1265 10   360   -90   0   9   2.63   0.52  
SPRC022 502047 8764304 1265 9   360   -90   0   9   1.50   0.19  
SPRC023 502175 8764271 1265 9   360   -90   0   4   0.58   0.21  
SPRC024 502150 8764278 1265 10   360   -90   0   8 *   0.62   0.17  
SPRC025 502123 8764300 1265 10   360   -90   5   2 *   1.39   0.14  
SPRC026 502099 8764328 1265 11   360   -90   0   11   3.82   0.94  
SPRC027 502067 8764323 1264 9   360   -90   0   8   2.47   0.38  
SPRC028 502170 8764301 1265 10   360   -90   0   8   2.53   0.46  
SPRC029 502145 8764320 1265 10   360   -90   0   9   1.82   0.16  
SPRC030 502122 8764349 1265 10   360   -90   0   10   2.19   0.36  
SPRC031 502121 8764157 1266 10   360   -90   0   8   0.48   0.69  
SPRC032 501974 8764203 1266 9   360   -90   0   5   0.58   0.33  
SPRC033 501950 8764226 1266 9   360   -90   0   8   2.21   0.33  
SPRC034 501933 8764256 1266 11   360   -90   0   6 *   0.41   0.56  
SPRC035 501931 8764289 1265 7   360   -90   0   6   0.32   0.33  
SPRC036 502100 8764150 1267 9   360   -90   0   7   0.59   1.47  
SPRC037 502160 8764254 1265 10   360   -90   0   8   0.96   0.67  
SPRC038 502070 8764157 1266 9   360   -90   0   8   0.94   1.06  
SPRC039 502022 8764202 1267 9   360   -90   0   3   0.19   0.36  
SPRC040 501993 8764229 1266 4   360   -90   0   4 *   0.00   0.00  
SPRC041 502010 8764271 1265 9   360   -90   0   3 *   2.58   0.38  
SPRC042 501977 8764247 1266 10   360   -90   0   3 *   0.39   0.33  
 
Table 1: Luisha South Stockpile RC Holes; Collar Information and LWA Intercepts.
(* = cavities in stockpile affected sample return and resultant LWA intercept calculations)
 
(Notes: Grid coordinates are WGS84, Zone 35 South; Azimuth is magnetic; Intersections are down-hole widths, not true widths; Intersections are based on 1m riffle samples split at the rig; Reported assays are length weighted average intercepts; Intercepts are based on 0.1% copper cut off, with no top cut. Reported intercepts include a maximum of one "Internal waste" sample interval of <0.1% copper including NSR samples. NSR intervals were assigned a zero value for calculations)

Cavities were intersected in 12 of the 42 holes, resulting in NSR or No Sample Return. It is not known whether the source of the cavities is due to the rubbly, poorly sorted nature of the stockpile, or weathering.

The analytical results indicate that the northeastern half of the stockpile hosts the higher copper and cobalt grades, with smaller high grade pockets occurring in the south. Sulphides were not observed during the logging of the drill chips.

Based on the positive assay results and the observation that the mineralization is of an oxide nature (malachite and heterogenite), AFR has approached metallurgical companies including Mintek in Johannesburg, RSA, and METS in Perth, Australia, to conduct beneficiation test work aimed at producing a higher grade concentrate amenable to conventional hydrometallurgical leaching. The company plans to commence test work in February, with beneficiation results expected during mid to late March.

AFR also intends to estimate a copper and cobalt resource of the stockpile based on the results of the RC drilling. The resource is expected to be issued by the end of March.

Nigel Ferguson, AusIMM, President and CEO of the Company and a qualified person under National Instrument 43-101, has verified data disclosed in this release.

ON BEHALF OF THE BOARD OF DIRECTORS OF AFRICAN METALS CORPORATION

Nigel Ferguson, President & CEO

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Neither the 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 new release.

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