Sabre Resources Unveils New High-Grade Uranium and Copper Targets in NT and WA

Exploration Momentum in the Ngalia Basin

Sabre Resources Ltd (ASX: SBR) has reported encouraging progress in its December 2024 quarter activities, particularly at its flagship Dingo Uranium Project in the Northern Territory’s Ngalia Basin. The company’s recent Gradient Array Induced Polarisation (GAIP) survey over a 4km strike corridor northeast of the Camel Flat deposit has delineated four distinct IP chargeability anomalies. These anomalies suggest the presence of uranium-bearing carbonaceous and pyritic units within the Mt Eclipse Sandstone, a geological horizon known to host high-grade uranium mineralisation in the region.

Historical drilling south of Camel Flat has returned high-grade uranium intercepts, including up to 1.3m at 5,914ppm eU3O8, underscoring the prospectivity of Sabre’s tenements. The newly identified targets northeast of Camel Flat remain untested by drilling, with aircore programs planned pending Mine Management Plan approval. This strategic focus aligns Sabre with established deposits like Bigrlyi and Camel Flat, reinforcing the potential for a significant uranium discovery.

Copper and Gold Prospects in the Pilbara

In Western Australia’s northwest Pilbara, Sabre’s Sherlock Bay Project has yielded promising results from a recent aircore drilling campaign targeting electromagnetic anomalies within the Sholl Shear Corridor. The program, comprising 52 holes over 1,318 metres, has identified a copper trend extending at least 800 metres along strike, with copper grades increasing to the southwest. This trend is spatially associated with nickel-cobalt-gold sulphide mineralisation intersected in 2023 drilling, including a notable 14.5m at 0.87 g/t Au, 0.28% Ni, and 0.15% Cu.

The continuity and increasing grade of copper mineralisation, combined with the proximity to existing nickel-cobalt-gold resources, suggest a potentially extensive sulphide system. The zone remains open to the southwest, offering scope for resource expansion across tenement boundaries. Sabre’s integrated geophysical and geochemical approach is positioning Sherlock Bay as a compelling base and precious metals target.

Lithium Exploration Advances at Andover and Eastern Goldfields

Sabre’s lithium exploration efforts are focused on tenement applications at Andover East and Andover Northeast, located within the same geological terrane as the significant Andover lithium discovery. These applications cover northeast-trending fault corridors prospective for spodumene-bearing pegmatites, although the targets remain concealed beneath soil and alluvial cover. Access negotiations with native title holders are underway, with on-ground exploration programs anticipated post-grant.

Further east, the Cave Hill and Nepean South projects in the Eastern Goldfields Province encompass extensive lithium-pegmatite, gold, and nickel sulphide targets. The greenstone belts here are extensions of the prolific Coolgardie Goldfield, which has historically produced over 2.8 million ounces of gold. Sabre is reviewing soil sampling data to refine drill targets, while at the Ninghan Gold Project, aircore drilling approvals have been secured to test previously identified gold anomalies near the Mt Gibson mine.

Financial Position and Outlook

Sabre reported net expenditure of A$676,000 for the quarter, with direct exploration costs accounting for A$436,000. The company ended December 2024 with a cash balance of A$3.279 million, providing an estimated 4.85 quarters of funding at current expenditure rates. Payments to related parties, including director fees, amounted to A$16,000 during the quarter. Sabre’s disciplined capital management supports ongoing exploration activities across its uranium, gold, and lithium portfolio.

As Sabre advances its drilling programs and continues to refine targets across multiple commodities and jurisdictions, the company is well-positioned to unlock value from its diverse asset base. The upcoming drill results, particularly from the untested uranium anomalies at Dingo and the expanding copper-gold corridor at Sherlock Bay, will be critical catalysts for investor interest.