HomeBase MetalsSable Mining's iron ore 'pot of gold' in Guinea

Sable Mining’s iron ore ‘pot of gold’ in Guinea

Iron ore train
carrying product
from a Sable
Mining project in
South Africa
London, England — 26 March 2012 – AIM listed resource company Sable Mining Africa Limited has announced positive results pointing towards future production from the company’s surface sampling programme at its 80% owned, 123.5sq km exploration permit area in the Mount Nimba region of south-eastern Guinea, and a targeted reconnaissance drilling campaign is now scheduled to commence by the end of March.

A company release issued here says that grab samples returned assay grades of up to 68% Fe, and of the 70 samples collected, only five returned values of less than 25% Fe.

Within the permitted area, on the lower flanks of Mount Nimba, significant quantities of Canga-type iron ore conglomerate have been identified, forming three main plateaux covering an approximate area of 35sq km with thicknesses from observed outcrops exceeding 15m, the release adds.  The sampling programme was conducted by the company’s geological team, following the completion of access routes being established to significant areas of the plateaux.

The highly prospective iron ore permit is adjacent to the BHP Billiton/Newmont/Areva 600Mt EuroNimba iron ore project, and located approximately 30km from the newly reopened standard gauge railway in Liberia, which extends 260km from Nimba to the deepwater port on the coast at Port Buchanan.  Accordingly, the area, including Mount Nimba, is served by established infrastructure.

Sable Mining CEO Andrew Groves commented: “These high grade results highlight the quality of our licence and bode well for the property’s future exploration.  Excellent sample results, combined with the near surface nature of the ore body and the defined plateaux, affirm our belief that the permit is highly prospective.  Taking into account its proximity to the EuroNimba project, as well as to established infrastructure, we believe this permit has the potential to add significant value to the Company, and accordingly we want to rapidly advance our exploration efforts through the initiation of an initial 1,000m drilling campaign,” he added.

Source: Sable Mining Africa. For further details click here.