Youanmi Gold Projects

Youanmi Terrane Gold Projects

Ninghan Gold Project, E59/2402, WA

During the Quarter the Company completed the acquisition of the Ninghan Gold Project, E59/2402 (“the Project”), which is located approximately 50km southwest of Paynes Find in the southern part of the highly gold-endowed, Murchison Province of Western Australia.

Mt Gibson Gold Mine is located less than 20km along strike to the south of the Project, and has previous production of nearly 0.9Moz’s and a recently released resource upgrade by Capricorn Metals Ltd of 2.1Moz, for a total of 3.0Moz pre-mining gold endowment (see map below).

Ninghan Gold Project on regional magnetics image (TMI, RTP) and Mt Gibson gold deposit

The Mt Gibson gold deposit is associated with a north-northeast trending structural corridor that continues from Mt Gibson, north, passing through the western side of E59/2402 in an area of shallow cover/no outcrop. A second, parallel, north-south trending structure passes through the eastern side of the tenement, also in an area of cover. The historical Wolfram Queen gold-tungsten mine occurs in the outcropping area in between these key structural corridors and is associated with north-northeast trending cross-faults that continue into targeted areas to the northeast and southwest.

Interpretation of regional aeromagnetics indicates that the two, gold-anomalous, structural corridors extend for 5km strike-length within the Ninghan Gold Project tenement. These structural corridors are interpreted to continue and link with the >3.0Moz Mt Gibson gold deposit less than 20km to the south. Previous RAB and limited aircore drilling has confirmed that the buried structures are highly gold anomalous with two key anomalous corridors identified, the Triple A and the Beanthinny zones (see map below).

Further, detailed, magnetics and ground-gravity surveys are planned to define structural targets within these key prospective corridors, in parallel with angled aircore drilling and targeted deeper RC drilling.

Ninghan Gold Project RAB/Aircore best DH gold geochemistry on aerial photo with structure

The Company is continuing to focus on acquiring other tenements in the region where interpreted mineralised structural trends have not been adequately tested under-cover.

Youanmi Gold Projects

Sabre holds two exploration licences near Youanmi in WA, Bonanza Gold Project (E57/1125) and the Beacon Gold Project (E57/1136). The EL’s are 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.

Aircore drilling at the Bonanza Project produced anomalous results for silver and trace gold. Follow-up RC drilling did not intersect significant mineralisation and the projects are currently being reviewed.

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