sierra leone, page-31

No railway and no port and few sealed roads in the south and still they come !!
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Sable Mining (SBL LN) 23p. mkt cap pounds 213m - Acquisition of iron ore project in Sierra Leone.

5/4/11

Sable Mining has acquired an 80% interest in Red Rock mining in Sierra Leone which holds a 50 year lease over 206.75km2 covering the Bagla Hills, Tonkia Kingdom iron ore deposit near the Liberian border where BIF horizons have been identified.

The asset has a non JORC historical resource of 838mt at 32% Fe. It is located around 80km from the coast and 12km from a disused railhead at Kongo in Liberia which makes the logistics considerably easier than other projects in West Africa. The geology looks encouraging regarding upside size potential according to management.

The company plans to start drilling to expand the existing historical resource and convert it to JORC status. The historical work carried out dates back to the 70s with 6,600m drilled in 29 holes over a 200-300m spacing across a 1.5-2.5km strike with widths 100-500m up to 200m depth.

At the Southern portion of Bagla Hills there is a moratorium and prohibition to mining and exploration imposed by the government, work is underway to try and lift this. The cost of the acquisition is not known.

http://uk.ibtimes.com/articles/20110405/fairfax-company-news-anto-agld-crb-kgi-sbl-mml-zioc.htm