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Discovers Iron Ore Exploration Targets in Liberia

9 Mar 2011 15:18

RNS Number : 6422C
Sable Mining Africa Limited
09 March 2011
 



Sable Mining Africa Ltd/ Index: AIM / Epic: SBLM / Sector: Natural Resources

9 March 2011

Sable Mining Africa Limited ('Sable Mining' or 'the Company')

Discovers Major Iron Ore Exploration Targets in Liberia

 

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce the discovery of major iron ore targets following the completion of an aeromagnetic survey of the Bopulu and Timbo reconnaissance licences, located in the prospective metamorphosed Archaean granitoid-gneiss-greenstone terrain of the Kenema-Man domain on the West African Shield in Liberia. 

 

Highlights:

 

§ Aeromagnetic anomalies in the Timbo area associated with itabarite, show strike lengths of between 9km and 14km, presenting major iron ore exploration targets

§ Applications submitted for exploration licences to confirm the potential of these discoveries

§ 15,000m of diamond drilling to commence in Q2 2011, subject to licensing approval

 

Sable Mining CEO Andrew Groves said, "The results from our initial aeromagnetic surveys demonstrate the potential for major iron ore targets on the Bopulu and Timbo licence areas, with shallow strikes up to 14km long being identified. This area of Liberia is highly prospective for iron ore mineralisation, as illustrated by the numerous world-class iron projects in the region currently. The Board is committed to initiating an extensive drilling programme in Q2 2011 with the intention of proving up these major iron ore targets."

 

Sable Mining commissioned a geophysical work programme, comprising both detailed aeromagnetic and radiometric surveys covering 10,000km on the Bopulu and Timbo reconnaissance licences in Q4 2010. These licences form part of a widely recognised world-class iron ore province in Liberia which include major iron projects such as the 1 billion tonne Yekepa Project, owned by Arcelor Mittal; the 1.1 billion tonne Putu Range, owned by Severstal; and the 290 million tonne Bong Project, owned by China Union/Wisco. 

 

The Timbo Licence

 

The aeromagnetic surveys revealed the presence of two potentially significant and highly magnetic anomalies on the Timbo area, interpreted to be associated with itabarite iron formations. The surveys demonstrated the targets have strike lengths of between 9km and 14km, with maximum depths of less than 40m and widths up to 120m. Please click the following link to see Timbo high resolution aeromagnetic and radiometric surveys: 

http://www.rns-pdf.londonstockexchange.com/rns/6422C_-2011-3-9.pdf

 

The Bopulu Licence

 

A further two prominent targets associated with itabarite iron formations were delineated on the high-resolution airborne magnetic data from the Bopulu area. These initial targets appear to have strike lengths of between 2.5km and 3.5km with depths of less than 15m and indicated itabarite with potential hematite widths of approximately 45m. Please click the following link to see Bopulu high resolution aeromagnetic and radiometric surveys:

http://www.rns-pdf.londonstockexchange.com/rns/6422C_1-2011-3-9.pdf

 

Exploration Licence Application

 

The Board of Sable Mining is of the opinion that when compared with recently published aeromagnetic interpretation from Liberia and the sub-region, the anomalies on the Bopulu and Timbo reconnaissance licences represent significant exploration targets. The Company has now submitted applications for exploration licences from the Department of Land and Mines in Liberia to confirm the potential of these discoveries. An exploration programme has been planned, which will include 15,000m of diamond drilling, and is expected to commence in Q2 2011, subject to licensing approval.

 

 

** ENDS **

 

For further information please visit www.sablemining.com or contact:

Andrew Groves

Sable Mining Africa Ltd

Tel: 020 7408 9200

Jonathan Wright

Seymour Pierce Ltd

Tel: 020 7107 8000

David Foreman

Seymour Pierce Ltd

Tel: 020 7107 8000

Robin Henshall

Matrix Corporate Capital

Tel: 020 3206 7000

Nick Stone

Matrix Corporate Capital

Tel: 020 3206 7000

Hugo de Salis

St Brides Media & Finance Ltd

Tel: 020 7236 1177

Susie Geliher

St Brides Media & Finance Ltd

Tel: 020 7236 1177

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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