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News
Release
March 19, 2010
Anglo
Aluminum Acquires Mamou-Dalaba Bauxite Project, Guinea
Anglo
Aluminum Corp. (TSX-V : ALU) is pleased to announce the acquisition of the
Mamou-Dalaba bauxite property in Guinea, West Africa. The property
comprises 4 exploration permits covering 1832 km2 in south-western
Guinea. Anglo Aluminum retained Coffey Mining (Coffey) of Perth,
Australia to complete a preliminary assessment of the project including:
- First-pass ASTER processing to generate
plateau outlines and bauxite target ranking
- Reconnaissance site
visits to check targets, collect samples, and assess bauxite potential
- Formulation of a bauxite exploration
program
The ASTER processing generated 150 targets with a
combined surface area of approximately 181km2. Coffey was able to visit 30 of
these targets on the site visit. Of these, 14 targets with a combined surface
area of 55km2 were identified as having high-prospectivity for bauxite on the
basis of field observations and unverified historical drillhole data
referenced on the 1:200,000 Dalaba Geological Map Sheet.
Based on the high-prospectivity of these plateaus, Anglo
Aluminum is working with Coffey to develop a program to quickly confirm these
bauxite targets through drill testing.
Anglo Aluminum acquired the Mamou-Dalaba project through
an agreement to purchase 100% of the issued share capital of Societe
Guineenne de Fer et de Bauxite (SGFB), a local Guinean company that holds the
4 Mamou-Dalaba bauxite permits. SGFB also holds 14 base metal and 4
iron ore permits in the Beyla and Kankan areas, and 3 uranium permits in the
Beyla area in south-eastern Guinea. Coffey will complete an initial
assessment on these permits, as well.
Koba and Koumbia Bauxite Projects
A preliminary economic assessment (PEA) is currently
being organized for Anglo Aluminum’s flagship projects at Koba and Koumbia,
Guinea. That study will investigate the economics of mining operations
at Koba and/or Koumbia. Koba hosts NI 43-101 compliant Indicated
resources of 343,183,000 tones averaging 42.78% Al2O3, 2.85% SiO2, and 27.83%
Fe2O3, and an additional 63,342,000 tones averaging 43.81% Al2O3, 2.74% SiO2,
and 26.76% Fe2O3 classified as Inferred resources.
Anglo Aluminum recently announced high-grade bauxite
results from drilling completed on the Kousidji Plateau at Koumbia (see news
release dated February 18, 2010). Part of the PEA will focus on
defining a bauxite resource at Koumbia as well as updating the resource
estimate at Koba.
Christopher J. Wild, P.Eng., Vice-President and Director
of Anglo Aluminum., and a Qualified Person as defined by Canadian National
Instrument 43-101, has reviewed and approved the technical disclosure
contained in this news release.
For more information, please visit: www.angloaluminum.com or contact Jim Gillis at
250--374-7377.
On behalf of the Board of Directors
Anglo Aluminum Corp.
Neither the TSX Venture Exchange nor any other regulatory
body has approved or disapproved of the information contained therein.
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