AfriOre Reports the Second Estimates for the Akanani Platinum Project
AfriOre Limited, a BVI-based company which has recently reported its financial results for the 3 -month period until May 31, 2006, announced the results of a second independent mineral resource estimate for the Akanani Platinum Project in the South Africa’s Bushveld Complex. The first independent technical report for the Akanani Project containing the initial mineral resource estimate and other Project information  was released at the end of May, when this company received the increasing estimates for its Platinum project, and has been filed on SEDAR.
Both estimates were prepared by Snowden Mining Industry Consultants, an independent minerals consultancy group. This report was written also by Mr. Jeremy C. Witley, a “Qualified Person†who has written also the first Project report for Snowden.
The updated mineral resource estimate is based on the results of 33 diamond drill holes within a 381 hectare (”ha”) area within the P2 unit in the SPA. The estimate totals 249.1 million tonnes. The updated mineral resource extends from approximately 800 metres depth along the eastern project boundary to a selected depth of 2,000 metres in the west.
Warren Newfield, President and CEO of AfriOre, noticed in his statement that the significant increase in the mineral resource for company’s project in Akanani came just over four months since the announcement of the initial mineral resource. He supposed that these results confirm the excellent potential of the P2 unit to support a large, long-life underground platinum mine with significant base metal credits.
Afriore continues developing the Akanani Platinum project, as one of its most prospective projects, and has commenced additional drilling in the Central and Northern Areas to establish further mineral resources.