Sable Mining Africa Limited is an AIM listed resource company primarily focussed on the development of the Nimba Iron Ore Project in south-east Guinea. Nimba is a significant new iron ore discovery, which, with a current JORC Reserve of 53.96Mt at a grade of 61.6% iron, a mineral resource of 181.8Mt at an in-situ grade of 58.8% iron and a total exploration target of 200Mt, makes it the second largest on- or near-rail DSO deposit held outside of the majors in West Africa.
With a Mining Licence and Export Decree already secured from the Government of Guinea, and an Infrastructure Development Agreement in place with the Government of Liberia, which provides for the utilisation of the established rail corridor linking Yekepa to the Port of Buchanan, the Company has made significant important advancements towards commencing commercial production in the near term. The Company is confident that the near surface nature of the mineralisation and proximity of infrastructure sets Nimba apart from many of its peers resulting in the potential to fast track the project to production with relatively low capital expenditure. Significant resource upside potential remains at Nimba, as the initial resource covers only Plateau 2 and a portion of Plateau 3; the 11 km sq Plateau 1 is larger than Plateau 2 in aerial extent and has yet to be drilled.
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