Sable Mining Africa Regulatory News (SBLM)

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

25 October 2010

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

Update on Gulukwane Iron Ore Project

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce the first technical update on the Gulukwane iron ore project ('Gulukwane') in which Sable Mining has an effective 61% interest. As announced on 4 October 2010, Gulukwane comprises an area of approximately 25,000 hectares in the highly prospective Thabazimbi area in the Limpopo Province of South Africa. 

The first phase of geophysics test work, which included a combination of ground gravity and magnetics, has been completed and a positive gravity anomaly that has the characteristics that would be expected from a tabular haematite occurrence has been identified. The ground gravity data identified a north-south striking, positive Bouguer gravity anomaly on traverse lines four through eight over a distance of 2km. The gravity anomaly spatially correlates with an iron ore horizon mapped at outcrop and lacks a magnetic correlation, indicating that the causative source of the anomaly may be haematite.

Following the identification of this potential haematite anomaly, a second phase of exploratory work will commence shortly. This will include a 12 hole reverse circulation ('RC') drilling programme, which is aimed at extracting sufficient samples to confirm that the haematite is present, and to determine initial grades of the target in order to identify the optimum development path for Gulukwane.

Sable Mining CEO Andrew Groves said, "The characteristics from these initial results are highly encouraging and the potential presence of a large haematite occurrence underpins our belief that the Gulukwane project is prospective for iron ore. The project has the right address being located in the Thabazimbi area and we look forward to receiving further results on what we believe to be an exciting prospect."

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