Close

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.

Additional Reading?

Request Free Copy