Sable Mining Africa Regulatory News (SBLM)

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

3 October 2011

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

Major Iron Ore Targets Defined at Timbo, Bopolu and Kpo in Liberia

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce the identification of multiple iron ore targets on the Company's Timbo, Bopolu and Kpo iron ore projects following completion of a 13,260 line km high resolution airborne geophysical survey. The Company's Liberian iron ore assets are located in the highly prospective West African Shield in Liberia, where a number of world class iron ore projects are currently being developed. 

Highlights:

§ 12 highly prospective targets with major magnetic signatures identified across three licences totalling 1,189.13km2 in Liberia

o Timbo - Two iron ore exploration targets with combined strike length of 22km

o Bopolu - Four iron ore exploration targets with combined 17km strike length

o Kpo - Six iron ore exploration targets with 57km combined strike length

§ 13,260 line km high resolution airborne geophysical survey (aeromagnetics and radiometrics) completed

§ Geophysical signatures identified, reflecting presence of major magnetic anomalies across surveyed areas which mirror historically itabirite iron formations

§ 34 hole, 12,000m Phase 1 drilling programme to commence in November

§ 25 of the holes totalling 8,000m are planned at Timbo North where 11km strike coincides with a prominent ridge

Sable Mining CEO Andrew Groves said, "Taken together, the anomalies identified across the licences by this latest geophysical survey point to a significant iron ore asset lying within easy reach of existing infrastructure. The sub-region of Liberia, Sierra Leone, Guinea and the Ivory Coast hosts several multi-billion tonne iron ore assets that are currently under exploration and development. Upon the completion of our exploration campaign, we are confident that our licences will add to the list of world class assets in the region. With this in mind we look forward to commencing Phase 1 of our drilling programme in November as we continue to advance our Liberian assets through the development cycle." 

Sable Mining has received the interpretation of the data collected during the recently completed 13,260 line km airborne aeromagnetic and radiometric surveys covering the Company's Timbo, Bopolu and Kpo iron ore projects in Liberia. 12 exploration targets have been identified as a result of the survey, across all three of the Company's licences.

Timbo Iron Ore Project, Central Liberia:

4,980 line km were flown across the Timbo iron ore project, located on the 349.13km2 licence area, resulting in two iron ore exploration targets being identified with a combined strike length of 22km. The Timbo North target area lies within the Kaba mountain range, situated within Archaean aged iron-bearing greenstone belts intercalated with deformed, metamorphosed granitoid-gneiss basement rocks. Mapping undertaken to date indicates that the Timbo North ridge comprises an approximately 11km long, discontinuous iron rich (Itabirite / Banded Iron Formation ('BIF')) ridge. Importantly the targets are located within 50km of existing rail link and 90km from the port of Buchanan. Initial ground mapping across Timbo North has also been completed during which 68 grab samples were collected. The assay results are awaited.

Bopolu Iron Ore Project, Northern Liberia:

At the 308km2 Bopolu licence, 5,000 line km were flown resulting in the identification of four iron ore exploration targets with a combined strike length of 17km. The Bopolu iron ore target areas are situated at the southern end of the Kpo mountain range within Archaean aged, iron-bearing greenstone belts intercalated with deformed, metamorphosed, granitoid-gneiss basement rocks. The target areas are associated with a historically mapped itabirite iron formation. These targets also benefit from proximal infrastructure including the Bong railway which is located 60km away.

Kpo Iron Ore Project, Northern Liberia:

3,280 line km flown over the Kpo iron ore prospects located on the 532km2 licence, resulted in six iron ore exploration targets being identified with a combined strike length of 57km. The target areas delineated by the high resolution airborne geophysical survey are associated with historically mapped bearing itabirite iron formation within the Kpo mountain range and are within 60km of the existing Bong railway.

Exploration Programme:

The next stage of the exploration programme consists of a 12,000m, 34 hole, Phase 1 drilling programme scheduled to commence in November 2011. 25 of the holes totalling 8,000m are planned at Timbo North where the 11km long priority geophysical signature coincides with a prominent ridge. Phase 1 has been designed to test the highest priority magnetic signatures, to refine the geological model, and to progress the project towards a potential maiden iron ore resource estimate in 2012.

The remaining nine holes (4,000m) are planned on Bopolu and Kpo (2,000m on each licence) to investigate the potential of the southern most portion of the respective target areas.

SRK has been retained by the Company to review the upcoming exploration programme to ensure its compliance with international reporting standards.

Infrastructure

Despite heavy rains, the road construction that commenced in late June 2011 to access the Timbo North project area has been completed. Work on the access to Timbo South is ongoing. Construction of the exploration camp is currently underway with completion expected in November 2011. To date, 120km of the road that will enable access into the Bopolu-Kpo target areas, has been rehabilitated. 

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