Sable Mining Africa Regulatory News (SBLM)

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

13 May 2013

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

Phase 3 Expansion Drilling at Nimba Iron Ore Project

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce that it is going to be drill-testing an extension to the area of mineralisation covered by the recently completed JORC Resource report at the Company's Nimba Iron Ore Project in Guinea ('Nimba Project').

·; Extension area is approximately 200m wide and up to 3.9km in length

·; Extension has an exploration target potential of between 45Mt and 80Mt of canga

·; Potential to increase the Nimba Project's current JORC Resource of 121.5Mt

·; Current JORC Resource covers only Plateau 2 and a portion of Plateau 3

·; 37 borehole programme planned for Q2 2013 to test the quantity and quality of new area of mineralisation

Sable Mining CEO Andrew Groves said, "The Nimba Project has already demonstrated itself to be one of West Africa's premier high grade iron ore deposits, and the significant mineralised extension on two of the three plateaux further reiterates the quality of the deposit and the commercial value of its development. We are now focussed on further drill programme to better define the enlarged resource potential of the Nimba Project, adding to the current JORC Resource of 121.5Mt at an in-situ grade of 57.8% Fe. In conjunction with this exploration work, the Company continues to advance its logistical solutions and accordingly, we are pleased with the progress made in this region."

The Sable Mining exploration team has identified an area underlain by canga contiguous to the orebody modelled on Plateau 2 and 3 of the Nimba Project, which had remained open to the north-west following the drilling campaign concluded in March 2013. 

Subsequent geological interpretation using light detection and ranging ('LIDAR'), ground penetrating radar ('GPR') and geological mapping and modelling of the surface and sub-surface (basement) components has indicated that this area is an extension of the adjacent thick canga material found across the Nimba plateaux and is approximately 200m wide and up to 3.9km long (an area of approximately 78Ha). Extrapolating the Company's existing drilling data in the area, this extension is believed to consist of thick and high grade iron mineralisation and presents an exploration target for this area expected to be between 45Mt and 80Mt. 

To confirm the quantity and quality of this material for inclusion into the Company's next Mineral Resource Statement update targeted for Q4 2013, a 37 borehole programme has been designed. Drilling will commence as soon as drill mobilisation and re-supply are completed, which is anticipated during Q2 2013, and the drilling is expected to be completed in two months. The exploration will be conducted by Sable Mining's in house team of geologists supported by external independent consultants Xstract Mining Consultants from Perth, Australia. All samples will be analysed by UltraTrace laboratories in Perth, Australia, under strict quality control management.

The information in this announcement that relates to Mineral Exploration results and Mineral Resources, have been reviewed by Mark Biddulph, a qualified geologist. Mark Biddulph has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person as defined by the AIM Note for Mining and Oil & Gas Companies.

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