News
Release
June 15, 2010
Anglo
Aluminum Completes Bauxite Resource Drilling at Koumbia, Commences Bauxite
Exploration Drilling at Mamou-Dalaba, Guinea
Anglo Aluminum Corp. (TSX-V: ALU) (“Anglo”)
is pleased to announce that infill auger drilling has been completed on the
Koumbia Bauxite Project in Guinea, West Africa. Anglo drilled 190 drill
holes totalling 2,869 metres on the Kounsidji Plateau to facilitate the
completion of an initial and comprehensive NI 43-101 resource estimate for
the Koumbia Project. The auger drill is currently moving to Anglo’s
Mamou-Dalaba Bauxite Project, 190 kilometres to the southeast of Koumbia,
to conduct initial exploratory drilling across 8 potentially bauxitic
plateaus. Targets at Mamou-Dalaba were identified through interpretation of
ASTER satellite imagery and follow-up site investigation.
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Coffey Mining of Perth, Australia (“Coffey”) is managing
both drill programs on behalf of Anglo. Toumnyne SARL of Conakry, Guinea, is
providing drill and support services. All drill samples are being submitted
to SGS Mineral Services (Guinée) SARL for sample preparation and subsequent
transfer to SGS Johannesburg for assay analysis by XRF. The Koumbia Bauxite
Project encompasses the 130 km2 Gaoual exploration permit, located in the
prolific Boke Bauxite Belt of Guinea. The Mamou-Dalaba Bauxite Project comprises
4 exploration permits covering 1,832 km2 in southwestern Guinea. Guinea is
the world’s largest exporter of bauxite.
Koumbia Bauxite Project
Resource definition drilling targeted the Kounsidji
Plateau, where 57 initial aircore drill holes all intersected between 3
metres and 17 metres of bauxite, averaging 11.46 metres, at a hole spacing of
300 metres (see Anglo Aluminum Corp. News Release, February 18, 2010).
Weighted average grades for the 57 holes are 50.01% Al2O3, with relatively
low silica (SiO2) at 2.07% and iron (Fe2O3) at 17.01%. Recently completed
drilling totalled 2869 metres in 190 holes, infilling existing aircore
drilling at a hole spacing of 150 metres, in advance of a NI 43-101 compliant
resource estimate. Four auger drill holes twinned previous aircore drill
holes. Shallow pits will supply samples for bulk density sampling.
Koba Bauxite Project
A new NI 43-101 compliant resource estimate is planned
for the Koba Bauxite Project. Since the initial resource estimate was
completed in January 2009, over 6,000 additional samples from several
plateaus, including Kouraidendeli, Sapi North and South, Tenkéré, Lakhorde,
and Kounsitokhe, have been analyzed and added to the project database.
Currently, Koba hosts NI 43-101 compliant Indicated Resources of 343,183,000
tonnes averaging 42.78% Al2O3, 2.85% SiO2, and 27.83% Fe2O3, and an
additional 63,342,000 tonnes averaging 43.81% Al2O3, 2.74% SiO2, and 26..76%
Fe2O3 classified as Inferred Resources.
A preliminary economic assessment (PEA) is currently
being organized for both of Anglo’s flagship projects at Koba and Koumbia,
Guinea. That study will investigate the economics of establishing mining
operations at Koba and Koumbia, both for direct-shipping of bauxite to
offshore refineries and on-site refinery options. The PEA will utilize the
initial resource estimate for Koumbia and the updated resource estimate for
Koba.
In 2007 and 2008, Anglo conducted property-wide drill
testing of potentially bauxite-bearing plateaus on its Koba Bauxite Project,
completing 2,147 drill holes totalling 36,759 metres in two phases of aircore
drilling. Coffey managed the drill program on behalf of Anglo and West
African Drilling Services (“WADS”) provided drill services. All drill samples
were submitted to SGS Mineral Services (Guinea) SARL for sample preparation
and transferred to SGS Canada Inc. for assay analysis by XRF.
The Koba Bauxite Project encompasses the 406 km2
Telimélé exploration permit, also located in the prolific Boke Bauxite Belt.
Koba lies 40 kilometres south of Koumbia.
Mamou-Dalaba Bauxite Project
The Mamou-Dalaba bauxite property comprises 4
exploration permits covering 1,832 km2 in southwestern Guinea. Early in 2010,
Anglo retained Coffey to complete a preliminary assessment of the project.
First pass ASTER processing generated 150 targets with a combined surface
area of approximately 181 km2. Coffey was able to visit 30 of these targets
on the site visit. Of these, 14 targets with a combined surface area of 55
km2 were identified as having high-prospectivity for bauxite on the basis of
field observations and unverified historical drill hole data referenced on
the 1:200,000 Dalaba Geological Map Sheet.
Based on the high-prospectivity of these plateaus, Anglo
is embarking on the current program to quickly confirm these bauxite targets
through drill testing.
Anglo acquired the Mamou-Dalaba project through an
agreement to purchase 100% of the issued share capital of Société Guinéenne
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 Mining has completed an initial assessment on
the Kankan-Beyla permits where no additional work is contemplated at this
time.
Quality Control/Quality Assurance
Anglo Aluminum conducted a Quality Control / Quality
Assurance program that consisted of inserting 5 different bauxite reference
samples at a frequency of one in every 20 samples. Duplicate field samples
were also collected every 20 samples, processed and analyzed in the same
manner as the original and statistically analyzed. In addition, SGS employs
their own internal quality control procedures.
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.
This
news release contains certain statements that may be deemed “forward-looking”
statements. Forward looking statements are statements that are not historical
facts and are generally, but not always, identified by the words “expects”,
“plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”,
“potential” and similar expressions, or that events or conditions “will”,
“would”, “may”, “could” or “should” occur. Although we believe the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in forward
looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of our management on the date the statements are
made. Anglo Aluminum Corp. undertakes no obligation to update these
forward-looking statements in the event that management’s beliefs, estimates
or opinions, or other factors, should change, except as required by law.
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 news release.
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