Project Overview

SBR Project Overview

Sabre Resources Ltd is an ASX-listed company (ASX:SBR) focused on the exploration and development of key nickel sulphide and gold assets in Western Australia.

Nickel Sulphide Projects, Western Australia

Sabre’s principal asset is its 70% interest in the Sherlock Bay Nickel-Copper-Cobalt Project (“Sherlock Bay”, or “the Project”) - a significant nickel sulphide resource located on granted mining lease, M47/567, 40km east of Roebourne in the highly prospective Pilbara Region of Western Australia (refer to SBR announcement dated 29 January 2018).

The Project is well-located 12 km off the Northwest Coastal Highway, 40km east of Roebourne in the Pilbara Region of Western Australia. The Project includes a JORC 2012 Mineral Resource of 24.6Mt grading 0.41% nickel, 0.09% copper and 0.02% cobalt (>100,000t Ni Equivalent) (refer to SBR announcement dated 12 June 2018). The Company recently completed an extensive Scoping Study on the Project (refer to SBR announcement dated 27 January 2022) that highlighted the cashflow potential of the project at current and projected nickel prices and upside potential for higher-grade nickel sulphides at depth, that the Company is looking to test with deeper drilling planned.

The Company is focussed on building its nickel sulphide exploration portfolio and, to that end, recently announced a binding agreement to earn an 80% interest in the Sherlock Pool E47/4345, covering immediate strike extensions to the northeast and southwest of the Sherlock Bay nickel sulphide deposit (refer to SBR announcement dated 13 December 2021).

Sabre has also entered into an agreement to earn 80% of the Nepean South E15/1702, that covers a 12km corridor of ultramafic rocks south of the Nepean nickel sulphide mine, including previous nickel-copper RAB intersections, as well as the acquisition of 80% of Chalco Resources Pty Ltd (“Chalco”), that has three exploration licences (applications) at Cave Hill, over a >50km strike length of interpreted extensions of the Nepean and Queen Victoria Rocks nickel sulphide belts.

Youanmi Terrane Gold Projects, Western Australia

The Company has also added to its portfolio of gold exploration projects in the highly prospective Youanmi Terrane of Western Australia, with the acquisition of the Ninghan Gold Project, E59/2402, located in the southern Murchison District. Mt Gibson Gold Mine is located less than 20km along strike to the south of the Project and has a 3.0Moz pre-mining gold endowment. Previous RAB and aircore drilling has defined two strongly anomalous zones of gold-arsenic mineralisation that will be followed up with additional aircore and deeper RC drilling.

Sabre also holds a 100% interest in the Bonanza and Beacon exploration licences, in the Youanmi Gold Mining District, that has gained significant investor attention with several companies including Rox Resources Limited (ASX: RXL) and Venus Metals Corporation Limited (ASX: VMC) reporting significant exploration success on gold projects located in the same area.

Other Projects:

The Chalco acquisition also includes two uranium exploration licence applications in the Northern Territory, near existing uranium resources, and granted EL32693 at the junction of the Tennant East Copper-Gold Belt and the Lawn Hill Platform/Mt Isa Province in the Northern Territory.

The Company was previously active in the Otavi Mountain Land of Namibia for copper-lead-zinc and vanadium exploration. The Company is now primarily focussed on its nickel and gold exploration portfolio in Western Australia and will look to divest its remaining interests in Namibia if renewed.
 

 

 

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