- Sabre Resources (SBR) has announced an airborne magnetic survey has been completed at the Bonanza Gold Project in WA
- Sabre hired Pegasus Airborne Systems to undertake the survey which began in mid-July
- The survey was completed over a two kilometre by three kilometre target area in the northeast of the project
- Initial analysis of the results are highly encouraging and Pegasus will now undertake initial processing of the survey data
- Once this is completed, Sabre will outline the highest priority targets for future drill programs
- Company shares are up a healthy 30 per cent and are trading for 0.7 cents
Sabre Resources (SBR) has announced that an airborne magnetic survey has been completed at the Bonanza Gold Project.
The Bonanza Gold Project lies immediately west of the Penny West Gold Mine in the Youanmi Gold District in Western Australia.
Sabre hired Pegasus Airborne Systems to undertake the survey which began in mid-July.
The survey was completed over a two kilometre by three kilometre target area in the northeast of exploration licence E57/1125.
Initial analysis of the results are highly encouraging and the survey has successfully outlined lithological and structural information for potential gold mineralisation.
Pegasus will now undertake initial processing of the survey data with results expected next week.
Geophysical consultants Southern Geoscience Consultants have been hired to conduct more detailed processing and imaging to outline high-priority targets.
Sabre will then outline the highest priority targets for future drill programs.
Company shares are up a healthy 30 per cent and are trading for 0.7 cents each at 10:57 am AEST.