TIDMSBLM
RNS Number : 3957U
Sable Mining Africa Limited
29 July 2015
Sable Mining Africa Ltd / Index: AIM / Epic: SBLM / Sector:
Natural Resources
29 July 2015
Sable Mining Africa Ltd ('Sable Mining' or 'the Company')
Metallurgical Results at Nimba Iron Ore Project
Sable Mining, the AIM listed iron exploration and development
company, is pleased to announce positive results from metallurgical
test work conducted at the Plateau 2 area of the 205.2 million
tonnes ('Mt') Nimba Iron Ore Project in Guinea ('Nimba' or the
'Project').
Highlights
-- Detailed mine scheduling shows a life of mine of more than 20
years, and highlighted the ability to sustain production of both
high quality premium grade lump and fines products at Nimba over
the initial 10 years life of mine exclusively from the Plateau 2
area:
o Lump product grades of 63.33% iron ('Fe')
o Fines product grades of 62.11% Fe
-- A third medium grade fines product is being considered with grades of 58.58% Fe returned
-- Mechanical and thermal properties of the proposed premium
lump product expected to further enhance price premiums and
marketability of product - the rate and degree of reduction from
iron oxide to iron and the porosity of the lump product are
considered excellent, positively impacting blast furnace
productivity and direct feed suitability respectively
-- Easily fragmented rock identified (UCS averaging 20Mpa and
CWI averaging 3kWh/t), which will allow for high crushing rates at
low power consumption - positively impacting operational and
capital expenditure
-- Testing to determine the sinter characteristics of the fines
product is ongoing with initial tests performing to expectation -
results due September 2015
-- Further metallurgical test work is underway to progress
marketing studies for the end product
-- Additional upside available from Plateau 3 and the larger, un-drilled Plateau 1
Sable Mining CEO Andrew Groves said, "These metallurgical
results underpin the quality of our Nimba iron ore product and the
potential commercial viability of the Project. With grades of 63%
and 62% Fe returned from our lump and fines product respectively,
Nimba is able to sustain the production of both high quality
premium grade lump and fines products over an initial ten year life
of mine exclusively from Plateau 2. Importantly, this appears to be
achievable via relatively low cost crush and screen methods,
positively impacting the already compelling economics of the
Project. Furthermore, as Plateau 2 is one of three plateaux within
our licence area, there remains significant further upside
opportunity, the development of which could potentially be funded
from revenues generated at Plateau 2, positively impacting the
Project's capital requirements. Our focus will now be on further
defining the end product quality grade, so that we can begin to
assess export opportunities into markets such as Europe and
China."
Tables 1 and 2 compare the planned average lump and fines
product grades with BHP Billiton's ('BHPB') Newman High grade (NHG)
and MAC products (2012 specifications). A third medium grade fines
product is also being considered as presented in Table 3.
Table 1: Scheduled Lump Product Grades (Years 1 to 10)
Sable Nimba (Years
1 -10) NHG MAC
------------------ ------------------- ----- -----
Fe % 63.33 63.6 62.4
------------------ ------------------- ----- -----
Aluminium ('Al')
% 2.09 1.4 1.3
------------------ ------------------- ----- -----
Silicon ('Si')
% 1.68 4.0 3.1
------------------ ------------------- ----- -----
Phosphorus ('P')
% 0.07 0.07 0.07
------------------ ------------------- ----- -----
Table 2: Scheduled Fines Product Grades (Years 1 to 10)
Sable Nimba (Years
1 -10) NHG MAC
------ -------------------------------------------- ----- -----
Fe % 62.11 62.7 61
------ -------------------------------------------- ----- -----
Al % 2.69 2.3 2.2
------ -------------------------------------------- ----- -----
Si % 3.70 4.3 4.0
------ -------------------------------------------- ----- -----
P % 0.08 0.08 0.08
------ -------------------------------------------- ----- -----
Table 3: Scheduled Medium Grade Fines Product Grades (Years 1 to
10)
Sable Nimba (Years
1 -10)
------ -------------------
Fe % 58.58
------ -------------------
Al % 5.43
------ -------------------
Si % 4.54
------ -------------------
P % 0.08
------ -------------------
Testing to determine the sinter characteristics of the fines
product is ongoing. The results are due in September 2015 with
initial tests performing to expectation. Further metallurgical test
work is ongoing to progress marketing studies for the end product,
based on 16 HQ and 26 PQ drill holes' core.
Tests to fully characterise both the mechanical and thermal
properties of the proposed premium lump product have been completed
by the Commonwealth Scientific and Industrial Research Organisation
('CSIRO') in Australia and are summarised in Table 4. These results
are based on composite samples representing the initial ten years
of planned production. Again, such parameters are compared with the
BHPB (2012 specification) for their Newman High Grade and MAC
products.
Table 4 - Mechanical and Thermal Properties Years 1 -10 Lump
Product
Parameter Sable Nimba (1 NHG MAC Test Standard
- 10 yr) composites)
-------------------------- ---------------------- ---- ---- --------------
Tumble Index (TI) % +
6.3mm 81.4 85 86 ISO 3271
-------------------------- ---------------------- ---- ---- --------------
Abrasion Index (AI) %
- 0.5 mm 11.5 10 9 ISO 3271
-------------------------- ---------------------- ---- ---- --------------
Reduction Disintegration
Test (RDI) % - 2.8 mm 26.2 26 23 ISO 4696-2
-------------------------- ---------------------- ---- ---- --------------
Reducibility Index (RI)
% 71 56 60 ISO 7215
-------------------------- ---------------------- ---- ---- --------------
Decrepitation Index (DI)
% -6.3mm 1.8 6 5 ISO 8371
Whilst the TI and AI data advise that the lump product has
marginally greater susceptibility to disintegration to smaller
particles when compared to the BHPB products, as a result of
general attrition caused by product handling, loading, screening
etc., the RI data (indicating the rate and degree of reduction from
iron oxide to iron), resulting from the high porosity which
facilitates access of the reducing gas to the interior of the lump
products, is considered excellent. This positively impacts blast
furnace productivity. The porosity also has a positive impact on
the DI data (resistance to thermal shock), permitting ready
evacuation of heated gases, suggesting the material is suitable for
direct feed to a blast furnace. When considering general "value in
use" parameters as part of the ultimate marketing of Sable's Nimba
products, it is expected that such properties will further (in
addition to product grade) enhance expected price premiums and
marketability.
The information in this announcement that relates to
Metallurgical Test Work has been reviewed by Jasbir Khosa, a
qualified metallurgist and processing engineer employed by Xstract
Mining Consultants. Jasbir Khosa has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a qualified person as defined by the AIM Note for Mining
and Oil & Gas Companies.
** ENDS **
For further information please visit www.sablemining.com or
contact:
Andrew Groves Sable Mining Africa Tel: 020 7408
Ltd 9200
David Foreman Cantor Fitzgerald Europe Tel: 020 7894
7000
Stewart Dickson Cantor Fitzgerald Europe Tel: 020 7894
7000
Richard Greenfield GMP Securities Tel: 020 7647
2836
Hugo de Salis St Brides Partners Ltd Tel: 020 7236
1177
Charlotte Heap St Brides Partners Ltd Tel: 020 7236
1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
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