30 May 2012 07:00
Sable Mining Africa Ltd / Index: AIM / Epic: SBLM / Sector: Natural Resources
30 May 2012
Sable Mining Africa Limited ('Sable Mining' or 'the Company')
Further Drill Results from the Nimba Iron Ore Project
Sable Mining Africa Limited, the AIM listed resource company, is pleased to announce further wide haematite bearing intersections of up to 29.7 metres from the Company's reconnaissance drilling campaign at the 123.5 sq km Nimba Iron Ore Project in south-east Guinea ('Nimba'). These additional results from surface, in tandem with the first set of results announced on 8 May 2012, reporting intervals of up to 31.7 metres, underpin Nimba's iron ore potential.
The reconnaissance drilling campaign commenced in April 2012 and 16 holes have been completed to date. Two rigs are now employed on the site, both operating on the second of the three plateaux west of the village of Borata. This plateau covers 11.8 sq km of the total plateaux area of 35 sq km at the base of Mount Nimba. All ten holes completed have shown Canga-type material with zones of cemented conglomerate, gravels and clay-rich gravels all containing haematite. Five holes have shown intersections of greater than 16.50 metres, with the tenth hole achieving an intersection of 29.70 metres and the seventh 21.30 metres of haematite conglomerate before intersecting underlying granites.
A summary of intersections for each completed hole is given in the following table:
Hole ID | Intersection from (m) | Intersection to (m) | Interval (m) | Description |
32 | 0.00 | 18.80 | 18.80 | Canga/Hematite |
22 | 0.00 | 7.77 | 7.77 | Canga/Hematite |
23 | 0.00 | 18.50 | 18.50 | Canga/Hematite |
13 | 0.00 | 9.30 | 9.30 | Canga/Hematite |
41 | 0.00 | 10.05 | 10.05 | Canga/Hematite |
42 | 0.00 | 8.90 | 8.90 | Canga/Hematite |
30 | 0.00 | 21.30 | 21.30 | Canga/Hematite |
59 | 0.00 | 4.65 | 4.65 | Canga/Hematite |
60 | 0.00 | 6.55 | 6.55 | Canga/Hematite |
29 | 0.00 | 29.70 | 29.70 | Canga/Hematite |
Core from the 12 holes that have been drilled has been sent to Stewart Group in Dublin for analysis. The Company expects to receive results from this analysis by the end of June 2012.
Access to the third plateau to the south-west of the second plateau is well advanced and reconnaissance drilling will commence shortly. Plateau three covers an area of 12.5 sq km and dozed access routes have confirmed the presence of extensive areas of haematite on surface and on the plateau flanks.
Sable Mining CEO Andrew Groves said, "The continued presence of wide Canga-type intersections reinforces our confidence in the large scale iron ore resource potential of Nimba. We are expecting further grab sample results, the first batch having already demonstrated high grades of up to 68% iron, and we are looking forward to confirming the direct shipping ore potential of this project."
Additional Information:
The reconnaissance drilling campaign is aimed at confirming large volumes of Canga-type iron ore following the previously reported grab sampling which confirmed the presence of high grade material of up to 68% iron. The drilling is in line with the Company's strategy to rapidly prove up a JORC compliant resource at Nimba, where surface sampling and geology has demonstrated potential for a multi-hundred million tonne resource with direct shipping ore potential.
** ENDS **
For further information please visit www.sablemining.com or contact:
Andrew Groves | Sable Mining Africa Ltd | Tel: 020 7408 9200 |
Jonathan Wright | Seymour Pierce Ltd | Tel: 020 7107 8000 |
David Foreman | Seymour Pierce Ltd | Tel: 020 7107 8000 |
Richard Greenfield | GMP Securities | Tel: 020 7647 2836 |
Susie Geliher | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |