14th Oct 2013 10:32
LONDON (Alliance News) - Sable Mining Africa Ltd Monday said it has had further encouraging assay results from its recently-completed expansion exploration programme at the Nimba iron ore project in south-east Guinea.
The AIM-listed iron-ore exploration mining company with operations in the Republic of Guinea and South Africa said the latest test results showed good signs of high quality iron.
"These latest results, which include grades of up to 63.1% over 6.3 metre and vertical widths of up to 28.5 metres at 58.5% Iron, continue to highlight the high quality of this direct shipping ore asset," Andrew Groves, chief executive, said in a statement.
"Together with the recently granted Mining Licence and Export Decree, I believe the commercial value of the Nimba Project is clearly evident and I look forward to delivering on our additional near term value objectives, including the publication of an updated Resource and Pre-Feasibility Study, in the near future," Groves added.
Sable Mining shares were Monday quoted at 9.25 pence, down, 0.12 pence, or 1.3%.
By Samuel Agini; [email protected]; @samuelagini
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