- Sabre (SBR) detects a second “strong” surface electromagnetic (EM) anomaly at its Sherlock Bay nickel sulphide project in WA
- The new anomaly, found with the help of a moving-loop EM survey, lies just two kilometres southwest of the Discovery Zone in the project area
- Meanwhile, a diamond drill hole completed beneath the Discovery Zone returned a seven-metre hit at 1.02 per cent nickel, 0.14 per cent copper and 0.03 per cent cobalt
- The company now plans to use reverse circulation and diamond drilling to conduct further testing on multiple higher-grade nickel-copper-cobalt sulphide mineralisation
- SBR shares are soaring 18.52 per cent higher and trading at 3.2 cents at 3:35 pm AEDT
Sabre Resources (SBR) has detected a second “strong” surface electromagnetic (EM) anomaly at its Sherlock Bay nickel sulphide project in WA.
The new one-kilometre-long anomaly, detected using a moving-loop EM survey, lies just two kilometres southwest of the Discovery Zone in the project area.
The company said both EM conductor tests represented new priority drilling targets for the discovery of further high-grade sulphide mineralisation.
“The detection of a second strong EM anomaly, this time on the southern contact of the Sherlock Intrusive, two kilometres southwest of Discovery Zone, has further enhanced the potential for additional massive sulphides and an upgrade to what is already a substantial mineral resource at Sherlock Bay,” Sabre Resources CEO Jon Dugdale said.
“This, combined with planned metallurgical studies and further engineering work, will allow the company to fast-track a pre-feasibility study into a major new nickel sulphide development project, taking advantage of forecast future nickel and copper supply deficits and potential price increases.”
Meanwhile, a diamond drill hole completed beneath the Discovery Zone returned a seven-metre hit at 1.02 per cent nickel, 0.14 per cent copper and 0.03 per cent cobalt within a wider 24-metre zone grading 0.43 per cent nickel, 0.12 per cent copper, and 0.03 per cent cobalt from 341.67 metres.
The hole intersected a 12.2-metre semi-massive and stringer sulphide zone from 341.8 metres.
Additionally, in the previous hole, SBR also uncovered potentially lithium-bearing pegmatites
The company now plans to use reverse circulation and diamond drilling to conduct further testing on multiple higher-grade nickel-copper-cobalt sulphide mineralisation.
Sabre is working towards expanding its resource base at the Sherlock Bay project in the Pilbara WA.
SBR shares were soaring 18.52 per cent higher and trading at 3.2 cents at 3:35 pm AEDT.