West African Iron Ore provides positive drill results on the Wondima target

    




 TSX VENTURE EXCHANGE: WAI 

 VANCOUVER, Oct. 9, 2012 /CNW/ - West African Iron Ore Corp.  West African Iron Ore Corp. ("WAI" or the "Company") is pleased to  report that all assays have now been received from drilling on its  Wondima target. Results continue to show consistency in grade and  thickness as per previous release WAI-NR12-04 dated July 10, 2012.  Assays from 326 Reverse Circulation Holes ("RCH") and 58 Diamond Drill  Holes ("DDH") from the Wondima target returned an average grade of 30%  Fe. The mineralization is contained within a sub-horizontal iron rich  lateritic cap with an average thickness of approximately 8.5 meters,  starting from surface. 

 The Wondima target will form the basis of the Company's maiden NI43-101  resource report that is anticipated to be completed by year's end. SRK  Consulting (UK) Limited has completed a full QA/QC analysis of the  drilling and assays database as well as a site visit to the Wondima  target in early September. 

 The Wondima target is an extensive iron bearing layered prospect that  has been identified along the northern extension of the  Sambalama/Kaliadi magnetic anomaly (WAI-NR11-01 dated April 18, 2011).  The central part of the target where drilling has been concentrated  consists of an area of 33km² out of a geophysical target of 64 km² of  raised plateau with a flat and hard iron rich cap. Iron mineralization  starts from surface to a maximum depth of up to 26 meters. WAI  commenced drilling in March 2012 on a 400m X 400m grid and completed  over 10,000 meters of DDH and RCH late summer. A total of 384 RCH were  drilled for 9,955 meters and 65 DDH were completed for 1,088 meters;  both RCH and DDH were drilled vertically. The size of the Wondima  mineralization identified to date has doubled in size since our March  21, 2012 release. The samples were assayed at the Inspectorate America  laboratory in Richmond, Canada. Selected intercepts are tabled below: 




     _______________________________________________________
    |Hole_ID |From (m)|To (m)|True Width (m)|Av.-Fe(%) total|
    |________|________|______|______________|_______________|
    |AMADD002|     0  |  6.3 |        6.3   |       34.08   |
    |________|________|______|______________|_______________|
    |AMADD003|     0  |  8.1 |        8.1   |       29.01   |
    |________|________|______|______________|_______________|
    |AMADD004|     0  |  8.3 |        8.3   |       41.89   |
    |________|________|______|______________|_______________|
    |AMADD006|     0  |  9.8 |        9.8   |       32.90   |
    |________|________|______|______________|_______________|
    |AMADD007|     0  |  7.6 |        7.6   |       29.63   |
    |________|________|______|______________|_______________|
    |AMADD011|     0  |  8.5 |        8.5   |       38.86   |
    |________|________|______|______________|_______________|
    |AMADD013|     0  |  9.7 |        9.7   |       34.84   |
    |________|________|______|______________|_______________|
    |AMADD014|     0  | 11.8 |       11.8   |       35.99   |
    |________|________|______|______________|_______________|
    |AMADD015|     0  |  7.1 |        7.1   |       27.32   |
    |________|________|______|______________|_______________|
    |AMADD016|     0  |  8.2 |        8.2   |       35.30   |
    |________|________|______|______________|_______________|
    |AMADD017|     0  |  9.3 |        9.3   |       35.58   |
    |________|________|______|______________|_______________|
    |AMADD018|     0  | 12.8 |       12.8   |       31.30   |
    |________|________|______|______________|_______________|
    |AMADD023|     0  | 11.1 |       11.1   |       27.43   |
    |________|________|______|______________|_______________|
    |AMADD025|     0  |  6.2 |        6.2   |       36.77   |
    |________|________|______|______________|_______________|
    |AMADD026|     0  |  8.9 |        8.9   |       41.14   |
    |________|________|______|______________|_______________|
    |AMADD027|     0  |  9.3 |        9.3   |       38.97   |
    |________|________|______|______________|_______________|
    |AMADD028|     0  |  8.4 |        8.4   |       33.79   |
    |________|________|______|______________|_______________|
    |AMADD030|     0  |  7.2 |        7.2   |       36.56   |
    |________|________|______|______________|_______________|
    |AMADD031|     0  | 10.4 |       10.4   |       32.58   |
    |________|________|______|______________|_______________|
    |AMADD032|     0  |  7.9 |        7.9   |       37.93   |
    |________|________|______|______________|_______________|
    |AMADD033|     0  |  8.5 |        8.5   |       33.08   |
    |________|________|______|______________|_______________|
    |AMADD034|     0  |  7.6 |        7.6   |       37.36   |
    |________|________|______|______________|_______________|
    |AMADD035|     0  |   26 |         26   |       30.18   |
    |________|________|______|______________|_______________|
    |AMADD036|     0  | 14.2 |       14.2   |       33.53   |
    |________|________|______|______________|_______________|
    |AMADD037|     0  |  9.8 |        9.8   |       33.34   |
    |________|________|______|______________|_______________|
    |AMADD039|     0  |   10 |         10   |       31.89   |
    |________|________|______|______________|_______________|
    |AMADD040|     0  |   13 |         13   |       29.38   |
    |________|________|______|______________|_______________|
    |AMADD041|     0  |  6.2 |        6.2   |       38.56   |
    |________|________|______|______________|_______________|
    |AMADD044|     0  |   11 |         11   |       30.08   |
    |________|________|______|______________|_______________|
    |AMADD045|     0  |   10 |         10   |       37.49   |
    |________|________|______|______________|_______________|
    |AMADD046|     0  |  7.1 |        7.1   |       34.41   |
    |________|________|______|______________|_______________|
    |AMADD047|     0  | 10.5 |       10.5   |       28.14   |
    |________|________|______|______________|_______________|
    |AMADD048|     0  |  6.5 |        6.5   |       27.08   |
    |________|________|______|______________|_______________|
    |AMADD049|     0  | 13.3 |       13.3   |       31.45   |
    |________|________|______|______________|_______________|
    |AMADD050|     0  |   12 |         12   |       25.54   |
    |________|________|______|______________|_______________|
    |AMADD051|     0  | 10.7 |       10.7   |       38.28   |
    |________|________|______|______________|_______________|
    |AMADD052|     0  | 16.7 |       16.7   |       27.91   |
    |________|________|______|______________|_______________|
    |AMADD053|     0  |  8.5 |        8.5   |       37.13   |
    |________|________|______|______________|_______________|
    |AMADD054|     0  | 17.6 |       17.6   |       26.73   |
    |________|________|______|______________|_______________|
    |AMADD055|     0  | 14.6 |       14.6   |       25.15   |
    |________|________|______|______________|_______________|
    |AMADD056|     0  | 12.2 |       12.2   |       27.37   |
    |________|________|______|______________|_______________|
    |AMADD057|     0  | 10.8 |       10.8   |       25.98   |
    |________|________|______|______________|_______________|
    |AMADD058|     0  | 11.1 |       11.1   |       30.80   |
    |________|________|______|______________|_______________|
    |AMADD059|     0  |  8.1 |        8.1   |       32.57   |
    |________|________|______|______________|_______________|
    |AMADD061|     0  | 12.3 |       12.3   |       33.98   |
    |________|________|______|______________|_______________|
    |AMADD062|     0  |  6.3 |        6.3   |       33.45   |
    |________|________|______|______________|_______________|
    |AMADD063|     0  | 12.6 |       12.6   |       29.49   |
    |________|________|______|______________|_______________|
    |AMADD064|     0  | 11.9 |       11.9   |       26.55   |
    |________|________|______|______________|_______________|
    |AMADD065|     0  | 12.9 |       12.9   |       36.54   |
    |________|________|______|______________|_______________|
    |AMARC102|     0  |   4  |         4    |       32.87   |
    |________|________|______|______________|_______________|
    |AMARC108|     0  |   4  |         4    |       26.43   |
    |________|________|______|______________|_______________|
    |AMARC110|     0  |   4  |         4    |       27.08   |
    |________|________|______|______________|_______________|
    |AMARC112|     0  |   3  |         3    |       27.41   |
    |________|________|______|______________|_______________|
    |AMARC157|     0  |   4  |         4    |       27.82   |
    |________|________|______|______________|_______________|
    |AMARC158|     0  |   4  |         4    |       29.79   |
    |________|________|______|______________|_______________|
    |AMARC168|     0  |   4  |         4    |       26.96   |
    |________|________|______|______________|_______________|
    |AMARC172|     0  |   4  |         4    |       26.91   |
    |________|________|______|______________|_______________|
    |AMARC180|     0  |   4  |         4    |       33.88   |
    |________|________|______|______________|_______________|
    |AMARC185|     0  |   4  |         4    |       26.49   |
    |________|________|______|______________|_______________|
    |AMARC192|     0  |   4  |         4    |       37.91   |
    |________|________|______|______________|_______________|
    |AMARC195|     0  |   4  |         4    |       28.60   |
    |________|________|______|______________|_______________|
    |AMARC201|     0  |   4  |         4    |       27.32   |
    |________|________|______|______________|_______________|
    |AMARC203|     0  |   4  |         4    |       29.86   |
    |________|________|______|______________|_______________|
    |AMARC293|     0  |   10 |         10   |       32.29   |
    |________|________|______|______________|_______________|
    |AMARC298|     0  |   10 |         10   |       29.43   |
    |________|________|______|______________|_______________|
    |AMARC299|     0  |   6  |         6    |       26.94   |
    |________|________|______|______________|_______________|
    |AMARC301|     0  |   6  |         6    |       28.80   |
    |________|________|______|______________|_______________|
    |AMARC302|     0  |   10 |         10   |       29.18   |
    |________|________|______|______________|_______________|
    |AMARC303|     0  |   12 |         12   |       29.93   |
    |________|________|______|______________|_______________|
    |AMARC304|     0  |   10 |         10   |       30.68   |
    |________|________|______|______________|_______________|
    |AMARC305|     0  |   10 |         10   |       32.43   |
    |________|________|______|______________|_______________|
    |AMARC306|     0  |   10 |         10   |       28.07   |
    |________|________|______|______________|_______________|
    |AMARC307|     0  |   6  |         6    |       30.69   |
    |________|________|______|______________|_______________|
    |AMARC308|     0  |   4  |         4    |       26.65   |
    |________|________|______|______________|_______________|
    |AMARC338|     0  |   8  |         8    |       25.30   |
    |________|________|______|______________|_______________|
    |AMARC346|     0  |   10 |         10   |       25.19   |
    |________|________|______|______________|_______________|
    |AMARC357|     0  |   6  |         6    |       32.15   |
    |________|________|______|______________|_______________|
    |AMARC367|     0  |   12 |         12   |       26.05   |
    |________|________|______|______________|_______________|
    |AMARC368|     0  |   6  |         6    |       25.20   |
    |________|________|______|______________|_______________|
    |AMARC373|     0  |   8  |         8    |       26.23   |
    |________|________|______|______________|_______________|
    |AMARC374|     0  |   4  |         4    |       26.53   |
    |________|________|______|______________|_______________|
    |AMARC375|     0  |   6  |         6    |       25.24   |
    |________|________|______|______________|_______________|
    |AMARC378|     0  |   4  |         4    |       26.97   |
    |________|________|______|______________|_______________|
    |AMARC382|     0  |   6  |         6    |       25.98   |
    |________|________|______|______________|_______________|
    |AMARC390|     0  |   8  |         8    |       26.97   |
    |________|________|______|______________|_______________|
    |AMARC391|     0  |   6  |         6    |       32.31   |
    |________|________|______|______________|_______________|
    |AMARC392|     0  |   12 |         12   |       27.27   |
    |________|________|______|______________|_______________|
    |AMARC393|     0  |   8  |         8    |       28.09   |
    |________|________|______|______________|_______________|
    |AMARC394|     0  |   10 |         10   |       27.26   |
    |________|________|______|______________|_______________|
    |AMARC395|     0  |   6  |         6    |       27.40   |
    |________|________|______|______________|_______________|
    |AMARC396|     0  |   6  |         6    |       33.41   |
    |________|________|______|______________|_______________|
    |AMARC398|     0  |   8  |         8    |       30.97   |
    |________|________|______|______________|_______________|
    |AMARC399|     0  |   6  |         6    |       25.89   |
    |________|________|______|______________|_______________|
    |AMARC400|     0  |   4  |         4    |       25.72   |
    |________|________|______|______________|_______________|
    |AMARC401|     0  |   6  |         6    |       27.31   |
    |________|________|______|______________|_______________|
    |AMARC405|     0  |   8  |         8    |       30.48   |
    |________|________|______|______________|_______________|
    |AMARC408|     0  |   6  |         6    |       25.94   |
    |________|________|______|______________|_______________|
    |AMARC411|     0  |   10 |         10   |       36.02   |
    |________|________|______|______________|_______________|
    |AMARC412|     0  |   10 |         10   |       27.26   |
    |________|________|______|______________|_______________|
    |AMARC413|     0  |   8  |         8    |       27.66   |
    |________|________|______|______________|_______________|
    |AMARC414|     0  |   6  |         6    |       27.61   |
    |________|________|______|______________|_______________|
    |AMARC415|     0  |   6  |         6    |       27.99   |
    |________|________|______|______________|_______________|
    |AMARC416|     0  |   8  |         8    |       25.20   |
    |________|________|______|______________|_______________|
    |AMARC417|     0  |   6  |         6    |       26.42   |
    |________|________|______|______________|_______________|
    |AMARC418|     0  |   12 |         12   |       27.73   |
    |________|________|______|______________|_______________|
    |AMARC420|     0  |   10 |         10   |       30.98   |
    |________|________|______|______________|_______________|
    |AMARC421|     0  |   10 |         10   |       28.87   |
    |________|________|______|______________|_______________|
    |AMARC423|     0  |   6  |         6    |       27.44   |
    |________|________|______|______________|_______________|
    |AMARC428|     0  |   4  |         4    |       27.73   |
    |________|________|______|______________|_______________|
    |AMARC429|     0  |   8  |         8    |       28.32   |
    |________|________|______|______________|_______________|
    |AMARC432|     0  |   4  |         4    |       29.86   |
    |________|________|______|______________|_______________|
    |AMARC433|     2  |   6  |         4    |       26.73   |
    |________|________|______|______________|_______________|
    |AMARC437|     0  |   12 |         12   |       25.68   |
    |________|________|______|______________|_______________|
    |AMARC441|     0  |   4  |         4    |       28.11   |
    |________|________|______|______________|_______________|
    |AMARC442|     0  |   8  |         8    |       30.17   |
    |________|________|______|______________|_______________|
    |AMARC443|     0  |   8  |         8    |       28.23   |
    |________|________|______|______________|_______________|
    |AMARC445|     0  |   10 |         10   |       26.45   |
    |________|________|______|______________|_______________|
    |AMARC447|     0  |   12 |         12   |       25.16   |
    |________|________|______|______________|_______________|
    |AMARC448|     0  |   8  |         8    |       25.16   |
    |________|________|______|______________|_______________|
    |AMARC449|     0  |   16 |         16   |       29.34   |
    |________|________|______|______________|_______________|
    |AMARC450|     0  |   4  |         4    |       27.49   |
    |________|________|______|______________|_______________|
    |AMARC451|     0  |   12 |         12   |       29.86   |
    |________|________|______|______________|_______________|
    |AMARC452|     0  |   4  |         4    |       29.30   |
    |________|________|______|______________|_______________|
    |AMARC456|     0  |   6  |         6    |       26.31   |
    |________|________|______|______________|_______________|
    |AMARC459|     0  |   8  |         8    |       25.38   |
    |________|________|______|______________|_______________|
    |AMARC464|     0  |   8  |         8    |       26.36   |
    |________|________|______|______________|_______________|





  

 Sampling and Quality Control: 

 Sample preparation includes sun drying or oven drying the entire RC  split or HQ half core sample; manual crushing of large pieces to +90%  passing -10mm; rolling the sample and riffle split to 3-5kg. This 3-5  kg split is crushed in a jaw crusher to +80% passing -10#; rolled  again; coned and quartered to draw three sub-samples as follows: 





          a.     150-200 g sub-sample is used for on-site NITON - XRF
                 assay. These 150-200g sub-samples are analyzed using a
                 NITON Thermo Scientific XL 3t GOLDD+ XRF in the on-site
                 lab room. The NITON instrument is wiped after every assay
                 and calibrated with a CRM standard twice every day.

          b.     Another 200-250g sub-sample is extracted and sent to the
                 Inspectorate Exploration & Mining Services Ltd, a Bureau
                 Veritas company in Reno, Nevada, United States, for
                 pulverization and analysis. At Inspectorate Lab in Reno,
                 this sub sample is pulverized to +85% passing 200#, a 50g
                 sub sample is drawn and is analyzed at the Inspectorate
                 America laboratory facility in Richmond, Canada using XRF
                 (partial silicates) method by LiBO2 fusion followed by XRF
                 analysis for Major Oxides, Fe and LOI.

          c.     Balance sample of 1kg to 3kg preserved in the on site
                 sample library as reference sample in labeled one litre
                 plastic jars.






  

 The Company prepared all cuttings on site from the reverse  circulation-drilling program. SRK Consulting of Australia inspected our  facility and confirmed our quality control program. Inspectorate  Exploration & Mining Services Ltd., a Bureau Veritas company in Reno,  Nevada, United States, conducted all samples analyzed mentioned above  at their laboratory facility in Richmond, Canada. The Company maintains  a systematic quality control program including the use of standards,  blanks, duplicates, and an independent check laboratory. The DDH and  the RCH assay samples collected are sent to Inspectorate Exploration &  Mining Services Ltd, for sample preparation and assay. Samples selected  randomly will be re-analyzed by SGS Canada Inc. in Lakefield, Ontario  to ensure inter laboratory quality control and umpire validation. The  performance of the quality control samples associated with these data  indicates acceptable analytical quality. Please refer to the NI 43-101  Technical Report, which is filed on SEDAR and available on the  Company's website, for further discussion of sample methodology,  detailed quality control procedures and other information regarding the  project. 

 Update on Financing: 

 Since the signing of a binding Letter of Intent for a CAD$30 million  facility between the Company and Strategic Partner, China International  Fund Limited ("CIF") (see release WAI-NR12-05 dated September 4, 2012),  the Company's legal counsel and CIF's law firm have been working  diligently to complete the Definitive Agreement that the Company and  CIF hope to sign shortly. 

 About China International Fund Limited: 

 CIF is headquartered in the Hong Kong Special Administrative Region of  China, and has investment footprints in 3 continents and many  countries. 

 With the strength of its experience in large-scale infrastructure  development in Africa, CIF is in the position to accelerate the iron  ore exploration and production goals of WAI, having recently built road  access within the boundaries of the Company's Forécariah permits to  provide access to the barging port of Konta. 

 CIF has a vision for Africa: Through South-South cooperation and in  partnership with private industry and the government, CIF will develop  public transport infrastructure such as road, rail, seaports and  airports to improve connectivity and accessibility, as well as public  utilities, agriculture, aqua culture, public housing, construction  materials and mining projects, where its commercial objectives are  aligned with the needs of countries to develop the economy and improve,  ultimately, the living standards of the people. 

 ON BEHALF OF THE BOARD Guy Duport CEO  

 About the Company: 

 West African Iron Ore Corporation is dedicated to the sustainable  development of its mineral resources in the Forécariah provinces of the  Republic of Guinea. We nurture a harmonious working relationship with  the local community and the Guinean authorities. We advocate the  minimization of environmental impact and the promotion of economic  opportunity for all our stakeholders. 

 Our phased exploration program aims to establish the existence of  minable iron ore mineral reserves in sufficient quantities to permit  viable production of iron concentrate and other mineral deposits. 

 Jonathan Challis, FIMMM, is a qualified person under National Instrument  43-101, and has reviewed and is responsible for the contents of this  news release. 

 Statements in this release that are forward-looking statements are  subject to various risks and uncertainties, certain of which are beyond  the control of the Company including, but not limited to, the impact of  general economic conditions, industry conditions, volatility of  commodity prices, risks associated with the uncertainty of exploration  results and estimates and that the resource potential will be achieved  on exploration projects, currency fluctuations, dependence upon  regulatory approvals, the uncertainty of obtaining additional financing  and exploration risk. Readers should also refer to the specific factors disclosed under the  heading "Risk Factors" in the Company's filings with Canadian  securities regulators. Such information contained herein represents  management's best judgment as of the date hereof based on information  currently available. The Company does not assume any obligation to  update any forward-looking statements, save and except as may be  required by applicable securities laws. 

 Neither 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 release. 

West African Iron Ore Corp.


CONTACT:  Guy [e-mail]: 604-558-1198Investor RelationsVanguard Shareholder SolutionsTel: 604-608-0824Toll Free: [e-mail] 


    

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