Sabre’s Exploration Advances Face Key Drilling and Approval Milestones Ahead

Exploration Momentum in the Ngalia Basin

Sabre Resources Limited has reported steady progress in its diverse portfolio of mineral projects for the quarter ended 31 March 2025. Central to its activities is the Ngalia Basin in the Northern Territory, where the company holds a substantial 1,000 sq.km tenement package targeting high-grade uranium, vanadium, and copper-gold mineralisation.

At the Dingo Uranium Project, Sabre’s recent Gradient Array Induced Polarisation (GAIP) survey has revealed four distinct chargeability anomalies along a 3.5km strike northeast of the Camel Flat uranium deposit. These anomalies, interpreted as carbonaceous and pyritic units within the Mt Eclipse Sandstone, are considered highly prospective for uranium mineralisation. Fieldwork and rockchip sampling are underway, with auger soil sampling and aircore drilling planned pending regulatory approval.

Sherlock Bay: Expanding Nickel-Copper-Cobalt Potential

In Western Australia’s northwest Pilbara region, the Sherlock Bay Project remains Sabre’s flagship asset. The project hosts a significant nickel-copper-cobalt sulphide resource of 24.6 million tonnes grading 0.40% nickel, 0.09% copper, and 0.02% cobalt. Aircore drilling during the quarter tested six electromagnetic anomalies along strike, yielding highly anomalous copper results over an 800m trend southwest of the existing resource. These results build on 2023 diamond drilling that intersected gold alongside nickel-copper-cobalt mineralisation, suggesting a robust polymetallic system with potential for resource growth.

Lithium and Gold Targets in Emerging Terranes

Sabre continues to explore lithium targets at Andover East and Andover Northeast, located in the same geological terrane as the notable Andover lithium discovery. These targets remain underexplored beneath soil and alluvial cover, with on-ground programs contingent on tenement grants and native title access agreements. Meanwhile, in the Eastern Goldfields, the Cave Hill and Nepean South projects cover 700 sq.km of prospective greenstone belts. Recent auger soil sampling and historical drilling data are being compiled to refine gold targets for follow-up drilling.

Strategic Divestment of Ninghan Gold Project

Post-quarter, Sabre announced the sale of its Ninghan Gold Project in Western Australia to Capricorn Metals for $1.6 million, comprising an initial cash deposit and the balance in Capricorn shares. The deal includes contingent milestone payments totaling up to $1.75 million tied to resource milestones and commercial mining decisions. The project’s proximity to Capricorn’s Mt Gibson Gold Project and identified target zones underscores its strategic value. Completion is expected in May 2025, subject to due diligence.

Financial Position and Outlook

Sabre ended the quarter with a healthy cash balance of $2.981 million and net expenditure of $298,000, reflecting disciplined capital management amid active exploration. The company secured a five-year expenditure exemption on the Sherlock Bay Mining Lease, acknowledging the potential economic viability of the project with sustained nickel price improvements. As Sabre advances its exploration programs and asset portfolio, market watchers will be keenly observing upcoming drilling results and regulatory approvals that could unlock further value.