Sable Mining Africa Regulatory News (SBLM)

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

9 March 2011

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

Discovers Major Iron Ore Exploration Targets in Liberia

Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce the discovery of major iron ore targets following the completion of an aeromagnetic survey of the Bopulu and Timbo reconnaissance licences, located in the prospective metamorphosed Archaean granitoid-gneiss-greenstone terrain of the Kenema-Man domain on the West African Shield in Liberia. 

Highlights:

§ Aeromagnetic anomalies in the Timbo area associated with itabarite, show strike lengths of between 9km and 14km, presenting major iron ore exploration targets

§ Applications submitted for exploration licences to confirm the potential of these discoveries

§ 15,000m of diamond drilling to commence in Q2 2011, subject to licensing approval

Sable Mining CEO Andrew Groves said, "The results from our initial aeromagnetic surveys demonstrate the potential for major iron ore targets on the Bopulu and Timbo licence areas, with shallow strikes up to 14km long being identified. This area of Liberia is highly prospective for iron ore mineralisation, as illustrated by the numerous world-class iron projects in the region currently. The Board is committed to initiating an extensive drilling programme in Q2 2011 with the intention of proving up these major iron ore targets."

Sable Mining commissioned a geophysical work programme, comprising both detailed aeromagnetic and radiometric surveys covering 10,000km on the Bopulu and Timbo reconnaissance licences in Q4 2010. These licences form part of a widely recognised world-class iron ore province in Liberia which include major iron projects such as the 1 billion tonne Yekepa Project, owned by Arcelor Mittal; the 1.1 billion tonne Putu Range, owned by Severstal; and the 290 million tonne Bong Project, owned by China Union/Wisco. 

The Timbo Licence

The aeromagnetic surveys revealed the presence of two potentially significant and highly magnetic anomalies on the Timbo area, interpreted to be associated with itabarite iron formations. The surveys demonstrated the targets have strike lengths of between 9km and 14km, with maximum depths of less than 40m and widths up to 120m. Please click the following link to see Timbo high resolution aeromagnetic and radiometric surveys: 

http://www.rns-pdf.londonstockexchange.com/rns/6422C_-2011-3-9.pdf

The Bopulu Licence

A further two prominent targets associated with itabarite iron formations were delineated on the high-resolution airborne magnetic data from the Bopulu area. These initial targets appear to have strike lengths of between 2.5km and 3.5km with depths of less than 15m and indicated itabarite with potential hematite widths of approximately 45m. Please click the following link to see Bopulu high resolution aeromagnetic and radiometric surveys:

http://www.rns-pdf.londonstockexchange.com/rns/6422C_1-2011-3-9.pdf

Exploration Licence Application

The Board of Sable Mining is of the opinion that when compared with recently published aeromagnetic interpretation from Liberia and the sub-region, the anomalies on the Bopulu and Timbo reconnaissance licences represent significant exploration targets. The Company has now submitted applications for exploration licences from the Department of Land and Mines in Liberia to confirm the potential of these discoveries. An exploration programme has been planned, which will include 15,000m of diamond drilling, and is expected to commence in Q2 2011, subject to licensing approval.

** ENDS **

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