Nimba iron ore project in south-west Guinea has been granted a mining license and the resource intends to be increased by the end of 2013.The licence was issued to the Sable Mining’s 80% owned subsidiary West African Exploration SA and signed by His Excellency Professeur Alpha Conde the President of the Republic of Guinea. The licence covers the initial area of focus at Nimba, being a 23 sq km area covering portions of plateaux 2 and 3 of the total 123.5 sq km Nimba project which has a current JORC Resource of 135.5 million tonnes. A recent drilling programme over the mining licence area, focusing on a 200m by 3.9km extension area covering parts of Plateau 2 and Plateau 3, highlighted significant high grade DSO mineralisation, including an intersection measuring 36.0m at 62.0% iron. With the inclusion of the results from this drilling programme, the JORC compliant resource will be increased towards the exploration target of 200Mt that is being targeted at Nimba by the end of 2013.
“The granting of the licence is a landmark achievement for Sable Mining which will pave the way for us to begin development of this world-class high tonnage, high DSO grade and low capex iron ore asset,” says Andrew Groves, Sable Mining CEO.“We will continue to work closely with the relevant authorities to ensure the timely issuance of our export decree whilst remaining focused on the resource upgrade, rail allocation and pre-feasibility study publication, which are all expected by the end of 2013.” Sable Mining Africa, the AIM-listed exploration company, states that the Nimba iron ore project in south-west Guinea is the second largest undeveloped on- or near-rail direct shipping ore project to be held outside the major mining companies in West Africa.