- Sabre Resources (SBR) purchases the Ninghan gold exploration project near Meekatharra in Western Australia
- This purchase builds on Sabre’s two existing projects in the region, Bonanza and Beacon
- Sabre is continuing to look for further opportunities to purchase gold projects in the Youanmi/Murchison Province
- Additionally, the company has nearly completed the scoping study for its Sherlock Bay nickel-copper-cobalt sulphide project
- Just before the market opens today, Sabre last traded at 0.4 cents per share
Sabre Resources (SBR) has agreed to purchase the Ninghan gold exploration project in Western Australia.
The project is located near the Gibson gold mine in the southern Murchison of Western Australia, northeast of Meekatharra.
Previous drilling has defined gold mineralisation over a five-kilometre strike length, associated with two structural corridors.
This purchase builds on Sabre’s two existing projects in the region, Bonanza and Beacon.
Sabre has been continuing to look for further opportunities to purchase gold projects in the Youanmi/Murchison Province.
CEO Jon Dugdale was pleased with the new purchase.
“We are very positive about the acquisition of the Ninghan gold project in the southwest Murchison of WA,” Mr Dugdale said.
“This acquisition signals that Sabre will continue to target significant gold discoveries in the Youanmi Terrane of the western Yilgarn, where there remains potential for major, high-grade, gold discoveries under shallow cove.”
Additionally, the company have nearly completed the scoping study for its Sherlock Bay nickel-copper-cobalt sulphide project.
The updated scoping study builds on the previous feasibility study work conducted from 2004 to 2007 by Sherlock Bay Nickel Corporation.
“The discovery of higher-grade nickel sulphides, in combination with optimisation of the mining and processing of the existing resource, offers potential to generate a strongly viable project development plan for Sherlock Bay,” Mr Dugdale told the market.
Just before the market opens today, Sabre last traded at 0.4 cents per share.