Sable Mining Africa Regulatory News (SBLM)

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

29 November 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 an update on the Gulukwane iron ore project ('Gulukwane') in the highly prospective Thabazimbi area in the Limpopo Province of South Africa.

The 12 hole reverse circulation ('RC') drilling programme, aimed at confirming the presence of haematite and to determine initial grades of the target in order to identify the optimum development path for Gulukwane, has commenced. Five holes have already been drilled. Haematite has been intersected at depths ranging between 5m and 70m, with thickness varying between 2m and 15m. Samples from the drilling have been sent to OreProx Laboratory in Johannesburg for analysis with results expected within six weeks.

Additionally, grab sampling at two carefully selected locations where the haematite is outcropping has also been conducted with results reporting 63% Fe and 50% Fe respectively. Due to the careful selection process of both the outcrops and the samples sent for analysis, the grades reported above found in these banded iron formation ('BIF') outcrops are not representative of the ore body as a whole and should not be taken to be indicative of what can be expected over the entire area.

Gulukwane is situated 15km north of the town of Thabazimbi, home to the large Thabazimbi Iron Ore Mine owned by Kumba Iron Ore Ltd which is a subsidiary of Anglo American. The initial target zone within the area covered by the Company's Prospecting Rights is immediately north and adjacent to the area held by Aquila Resources Ltd ('Aquila'), and the Board believes that the mineralised zone being targeted by Aquila extends through the centre of the Gulukwane project area.

Sable Mining CEO Andrew Groves said, "Initial work has already started to confirm our belief that Gulukwane houses a potentially significant iron ore haematite project. With ongoing exploration and drilling we expect to confirm the prospectivity of the project and our prognosis that the formation that houses the Thabazimbi Iron Ore Mine extends into the concession."

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