Project Overview

Sabre Resources Ltd is an ASX-listed company (ASX:SBR) focused on the exploration of gold deposits in the Youanmi Gold Mining District, Western Australia, nickel-copper-cobalt and gold at Sherlock Bay, in the Pilbara, Western Australia, and Copper and Zinc-Lead deposits in the Otavi Mountain Land, northern Namibia. 

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.

Sherlock Bay Project

Sabre holds a 70% interest in the Sherlock Bay Project located in the Pilbara region of Western Australia (refer to SBR announcement dated 29 January 2018). The Project is well-located 12 km off Highway 1 with access to critical mining infrastructure. The Project comprises a single mining lease M47/567. The mining lease contains a JORC 2012 compliant resource of 24.6Mt grading 0.4% nickel, 0.09% copper and 0.02% cobalt . Sabre continues to review the economics of the project following recent fluctuations in the nickel price.

The Otavi Mountain Land Projects

The Otavi Mountain Land is a highly prospective, underexplored area in northern Namibia which has potential for high-value copper mineralisation, stratabound zinc-lead mineralisation and vanadium deposits.

The Otavi Mountain Land contains numerous historic mines, including the Tsumeb copper-lead-zinc mine and smelter complex, plus the Kombat copper mine. These mines are currently on care and maintenance, however, the Tsumeb copper smelter remains one of only five operating copper smelters in Africa. The presence of these mines and other significant historical mining and processing operations has resulted in the provision of excellent infrastructure throughout the region.

The Otavi Mountain Land Project comprises two tenements, EPL 3540 (SBR 80%) and EPL 3542 (SBR 70%), which cover about 172.5km2 of the ‘Otavi Triangle’. Renewal applications for EPL3540 and EPL3542 have been granted for an additional two-year term and will now expire in May 2021.

The Company is actively exploring its licence areas in Namibia, with an ongoing program of drilling, soil sampling, trench sampling, underground sampling, geophysics and mapping being conducted by the Company's geologists.

The objective of the exploration program is the discovery of significant mineralisation on the Company’s licences through the systematic application of modern exploration techniques.

In the December 2019 quarter, Sabre conducted sampling of the historic Utisab workings.  Reconnaissance work and sampling of historic workings have continued in the March 2020 quarter, with sampling programs completed at the Baltika and Lucas Post prospects.  Results of the sampling will be reported when all the assay results have been received and interpreted.

At the historic Lucas Post workings, rock chip samples were taken on a grid pattern to test the grade of the surface stockpiles and dumps. Results will be announced when all assay results have been received and interpreted.

 

 

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