Sable Mining Africa’s JORC Code compliant resource at Nimba Iron Ore Project has been increased to 135.5Mt.The AIM-listed exploration company, Sable, announced a 12% increase in the JORC Code compliant mineral resource at the 123.5km sq Nimba Iron Ore Project in south-east Guinea, making it a commercially attractive undeveloped iron ore asset in West Africa. “Further setting itself apart from its West African peers, Nimba continues to demonstrate itself as a high tonnage, high grade, high margin and low capex iron ore project with potential to become a world class production asset in the near term,” says Andrew Groves, Sable Mining CEO. “This Resource update to 135Mt at an in-situ grade of 59.4% Fe, strengthens our confidence in the quantity and quality of ore, which together with the additional benefits inherent at Nimba, including the established under-utilised standard gauge railway nearby, means it is one of the world’s premier undeveloped iron ore assets.”
Increased Indicated Resource tonnes to 90.7Mt from 4.2Mt – supports the conversion to Reserves during the completion of the Pre-Feasibility Study, which is underway and examining a variety of options, including the requirements of early term production.“We remain in an enviable position of being independent, in so far that we are yet to sell our off-take, and with highly significant milestones set to be reached in the near future, including the grant of a Mining Licence, export decree and publication of Pre-Feasibility Study, we are well positioned to rapidly build value at Nimba,” concludes Groves. Significant resource upside potential remains within both Plateau 2 and 3, as well as in parts of the 11 km sq Plateau 1 which is larger than Plateau 2 and is yet to be properly explored, but the expansion phase of drilling has been completed, and another resource update can be expected towards the end of the year.