The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Sabre Resources (SBR) is set to start an aircore drilling program at its Bonanza Gold Project in Western Australia
  • A 1500-metre, 50-hole program has been approved to target three priority zones mapped from aeromagnetic survey data
  • The highest-priority target sits in the north-east corner of the company’s holdings, around 800 metres from Ramelius Resources’ Penny West discovery
  • Priority drill targets sit at fault intersections where the north-east trending faults meet structures thought to be splays off the Youanmi Fault
  • Any mineralisation found in Sabre’s aircore program will be immediately followed up with reverse circulation drilling to probe the finds at depth
  • Sabre Resources is trading 28.57 per cent higher for 0.9 cents

Sabre Resources (SBR) is set to start an aircore drilling program at its Bonanza Gold Project in Western Australia.

Target acquired

A 1500-metre, 50-hole program has been approved to target three priority zones mapped from aeromagnetic survey data.

The highest-priority target sits in the north-east corner of the company’s holdings, around 800 metres from Ramelius Resources’ (ASX:RMS) Penny West discovery.

Drilling is set to commence in mid-November and will be looking for mineralisation along several north-east trending fault lines along strike from Penny West.

Priority drill targets sit at fault intersections where the north-east trending faults intersect north-west trending structures interpreted to be splays off the Youanmi Fault.

These zones represent similar geology to that found at Rox Resources’ (ASX:RXL) Grace prospect, where gold mineralisation was intersected close to the granite-greenstone contact on Youanmi fault splays.

Next steps

KTE Mining Services has been selected as the drilling contractor and will start work at Bonanza once it wraps up at a nearby Rox Resources and Venus Metals (ASX:VMS) joint venture.

Sabre is encouraged by recent nearby finds which have generated strong investor interest in the area.

Any mineralisation found in Sabre’s aircore program will be immediately followed up with reverse circulation drilling to probe the finds at depth.

Sabre Resources is trading 28.57 per cent higher for 0.9 cents at 10:13am ADT.

SBR by the numbers
More From The Market Online

Provident Aurum’s off-market bid sends Sihayo shares soaring

Small-cap mineral and gold explorer, Sihayo Gold (ASX:SIH) shares have soared, on news that the company…

It’s hard to imagine a world without a mining company called Anglo American

Growing up in South Africa it seemed inconceivable that Anglo American, a mining colossus at its zenith…
The Market Online Video

Geology is King: Sun Silver says Maverick Springs will outshine high-grade Australian mines

Sun Silver Ltd (ASX:SS1) is seeking gold, silver and pathfinder elements at their Maverick Springs project…

Viridis’ Brazilian holdings good for both light and heavy REEs, results beyond 27K ppm

Viridis Mining and Minerals (ASX: VMM) has remained steady on the market today on grades topping 27,000 parts per million from its rare