Youanmi Gold Projects

Youanmi Gold Projects

Sabre recently acquired 100% of the Bonanza Gold Project (E57/1125) and the Beacon Gold Project (E57/1136) in the Youanmi Goldfield in Western Australia, adjacent to Spectrum Metals Ltd’s Penny West Project. The Youanmi Gold Mining District has gained investor attention with the discovery of the Penny North gold resource by Spectrum Metals Ltd and the subsequent announcement in February 2020 of a takeover bid for Spectrum Metals Ltd by Ramelius Resources Ltd. Several other companies have reported significent exploration success on gold projects located in the same area.

The Youanmi Project covers a granite-greenstone belt containing faults that splay to the north-west off the Youanmi Shear Zone that controls gold mineralisation at Penny West/Penny North. The magnetic survey will delineate the faulted greenstone-granite contact and any parallel structures which would represent drill targets.

Initial results from the small area surveyed show the presence of interesting magnetic features. The survey will need to be completed and all data processed and imaged to allow a detailed interpretation. Sabre will use the magnetic data to generate targets, and plans to test the highest ranked targets with aircore drilling.

 

Location plan showing the Bonanza Gold Project (E57/1125) and Becon Gold Project (E57/1136) relative to Spectrum Metals Ltd's Penny West Project

 

 

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