Sable Mining Africa Regulatory News (SBLM)

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

26 October 2010

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

Liberian Iron Ore Acquisition

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce that it has acquired a 51% interest in Southern Cross Investments Limited, a company which holds the 477 sq km Bopolu (MRL 13002) and the 486 sq km Timbo (MRL 13001) iron ore reconnaissance licences in Liberia.

The Bopolu licence is located in a highly prospective area which is known to contain two sub-parallel itabirite ore bodies, following the interpretation of remote sensing data, geological maps and historical geological data. The total strike length of these iron rich tabular bodies within the Bopolu project is estimated to be 30km.

The Timbo licence is located within the Kaba mountain range near the north east boundary between the Grand Bassa and Nimba counties, and approximately 10km north west from the northern-most point where the Cestos shear zone cuts the Cess River. The area of interest hosts near surface itabirite iron formations surrounded by complex rock units which form a rough horse-shoe shape.

Sable Mining has investigated the prospectivity of the Timbo deposit and has identified that magnetite-hematite itabirite is the predominant iron-formation in the area. Iron-silicate rocks, quartzite, and amphibolite are associated with the iron ore. The itabirite forms long narrow ridges and is characterised by this positive topography. The total strike length of the Timbo deposit is approximately 23km.

The reconnaissance licences are valid for a period of six months during which non-invasive reconnaissance techniques will be applied. Sable Mining has already contracted New Resolution Geophysics to conduct geophysical work in the form of a combination of detailed aeromagnetic and radiometric surveys on these areas, which are due to commence in early November 2010. As soon as the geophysical surveys are completed and the reconnaissance licences transferred to exploration licences, the Company will commence with an intensive geological drilling programme on both these promising areas.

Sable Mining CEO Andrew Groves said, "The granting of the reconnaissance licences in Timbo and Bopulo represents the first steps of what we believe to be a very exciting period for Sable Mining in Liberia. Both the current and historical geological information that has been gathered supports the prospectivity of both the Timbo and Bopolu areas and the board is confident that each of these has the potential to support a stand-alone economically viable project."

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