- Sabre Resources (SBR) has commissioned a scoping study to determine the economics of the Sherlock Bay Nickel Project in the Pilbara region of WA at current commodity prices
- The study was prompted by recent market forecasts, which have noted rising demand for battery raw materials, including nickel, copper and cobalt
- The scoping study is being coordinated by Dr. Natalia Steltsova, a metallurgist specialising in nickel
- The process design for the scoping study is already underway and, once completed, will be followed by detailed engineering and CAPEX–OPEX calculations
- Sabre Resources is up 20 per cent, trading at 0.6 cents
Sabre Resources (SBR) has commissioned a scoping study to determine the economics of the Sherlock Bay Nickel Project at current commodity prices.
Sherlock Bay is a nickel–copper–cobalt project in the Pilbara region of Western Australia, that contains 251 reverse circulation and diamond holes. The deposit holds approximately 99,200 tonnes of nickel, 21,700 tonnes of copper and 5400 tonnes of cobalt, which has the potential to be increased by further drilling.
The Sabre Resources study is being coordinated by Dr. Natalia Steltsova, a metallurgist specialising in nickel.
The scoping study will build on extensive previous work, including a feasibility study carried out by the Sherlock Bay Nickel Corporation between 2004 and 2007. This feasibility study included extensive studies on the mining, geotechnical, hydrology, environment and plant design.
In 2018, Australian Mining Consultants also completed a mining study on the deposit, which documented cost schedules for the open pit and underground mining of the deposit.
Together, these studies have given Sabre confidence in the Sherlock Bay deposit, which the company says has the potential to become an economic mining development, creating further encouragement for its new scoping study.
The company says this study was prompted by recent market forecasts, which have noted the increasing penetration of electronic vehicles and the subsequent rising demand for battery raw materials, including nickel, copper and cobalt.
Sabre considers that it is well positioned to take advantage of the recovery in the nickel, copper and cobalt prices.
The process design for the scoping study is already underway. Once completed, it will be followed by detailed engineering and CAPEX-OPEX calculations.
Sabre Resources is up 20 per cent, trading at 0.6 cents at 9:50 am AEST.