Sabre Reports Uranium Up to 169ppm and $1.6M from Ninghan Gold Project Sale

Exploration Breakthroughs at Dingo Uranium Project

Sabre Resources Limited has delivered a robust quarter with significant exploration progress at its flagship Dingo Uranium Project in the Northern Territory’s Ngalia Basin. An extensive rockchip sampling and outcrop mapping program identified highly anomalous uranium concentrations, alongside critical metals and rare earth elements (REEs), across multiple new target zones including Rankins North, Dingo East, and Roadside.

Notably, Rankins North revealed uranium levels up to 169ppm, coupled with copper, bismuth, tin, tungsten, and gold anomalies over a 2 square kilometre area. Meanwhile, Dingo East and Roadside targets exhibited elevated total rare earth oxide (TREO) values, highlighting the project's potential beyond uranium alone. These findings underscore the prospectivity of the Mt Eclipse Sandstone formations, which host known high-grade uranium deposits nearby.

Strategic Asset Sale Enhances Financial Flexibility

In a parallel corporate development, Sabre completed the sale of its Ninghan Gold Project tenements to Capricorn Metals Ltd. The transaction delivered immediate cash proceeds of $100,000 and $1.5 million in Capricorn shares, which Sabre promptly monetised for $1.56 million. Additional contingent payments and royalties could elevate the deal value to over $3 million, providing Sabre with a strong capital base to fund its exploration pipeline.

Sabre’s cash position improved to $4.24 million at quarter-end, reflecting net proceeds from the Ninghan sale and disciplined expenditure. The company reported a net cash increase of $1.26 million during the quarter, with exploration expenditure maintained at a prudent $209,000.

Diversified Exploration Portfolio Progresses

Beyond uranium, Sabre continues to advance its nickel-copper-cobalt Sherlock Bay Project in Western Australia’s Pilbara region, holding a significant undeveloped sulphide resource. The company also pursues lithium targets at Andover East and Andover Northeast, prospective for spodumene-bearing pegmatites analogous to recent major discoveries.

In the Eastern Goldfields, exploration at Nepean South and Cave Hill projects targets nickel sulphides and gold mineralisation, with follow-up drilling planned to test promising soil anomalies. Meanwhile, the Lake Lewis Uranium Project in the Ngalia Basin is under review with fieldwork underway to prioritise targets for future programs.

Outlook and Next Steps

Sabre’s immediate focus will be on auger soil sampling at Rankins North and Eclipse targets to refine drill targets, aiming to validate the encouraging rockchip results with subsurface data. The company’s strong cash reserves provide a solid foundation to accelerate exploration and capitalise on emerging opportunities across its portfolio.

With uranium and critical metals gaining strategic importance globally, Sabre’s multi-commodity approach positions it well to benefit from evolving market dynamics. Investors will be watching closely for upcoming drill results and progress on milestone payments from the Ninghan Gold Project sale.