Sabre Resources Completes $2M Placement to Kickstart Tennant Creek Copper-Gold Drilling

Capital Raising Fuels Ambitious Tennant Creek Exploration Push

Sabre Resources (ASX:SBR) has wrapped up a $2 million placement to bankroll exploration and drilling across its recently acquired copper and gold projects in the Northern Territory’s Tennant Creek region. The funds will underpin a substantial drilling campaign targeting IOCG-style and high-grade gold mineralisation on a 4,000km2 land package that sits on extensions of the prolific Tennant Creek Mineral Field, historically responsible for over 5.5 million ounces of gold and 700,000 tonnes of copper.

Drilling Set to Test Tennant Creek Look-Alike Targets at Kurundi North

The first drilling salvo will focus on the East Tennant Ridge IOCG projects, specifically at Kurundi North. Sabre plans up to 6,000 metres of aircore and reverse circulation drilling across a 10-kilometre corridor marked by strong magnetic and gravity anomalies combined with copper soil anomalies beneath transported cover. These anomalies mimic the ironstone-hosted copper-gold systems that define the Tennant Creek Mineral Field. The Kurundi North targets are considered drill-ready and promise to test for new IOCG deposits analogous to the world-class mineralisation nearby. This drilling campaign follows government environmental approvals and shareholder backing for the project acquisition.

North Arunta Gold Project Targets High-Grade Intersections for Follow-Up

Following Kurundi North, Sabre will turn its attention to the North Arunta Gold Project, a 1,000km2 tenement package that extends the Kroda Gold Trend. Historical drilling in this corridor has yielded impressive results, including intersections of 12 metres at 15.7 grams per tonne gold and multiple other high-grade hits. The mineralised shear zones remain open along strike and at depth, presenting multiple drill-ready targets. The company is preparing to submit Environmental Mining Licence applications and land access agreements to facilitate this next phase of drilling.

Strategic Acquisition Approved by Shareholders

The $2 million placement follows the June 30 shareholder approval to acquire an 80% stake in two companies holding these key project areas. The acquisition significantly expands Sabre’s footprint in a region that has seen renewed corporate and processing activity after two decades since the closure of historical mines. The projects include not only Kurundi North but also the Buchanan Prospect and Frewena Dam copper prospects, each with large untested geophysical signatures potentially analogous to Olympic Dam scale mineralisation.

Options Issued to Support Capital Raising

Alongside the placement shares, Sabre has issued 200 million options exercisable at 1.6 cents each, expiring in June 2030, plus an additional 60 million options to the lead manager, Peak Asset Management, as part of the capital raising fee. These options provide potential upside for investors if exploration advances successfully.

Ongoing Exploration in Northern Territory Uranium and Rare Earths

Beyond the Tennant Creek projects, Sabre continues to explore its existing Northern Territory tenements in the Ngalia Basin and South Arunta regions. These include uranium targets at Dingo and critical and precious metals prospects at Rankins North and Roadside, highlighted by anomalous rare earth element and base metal assays. Follow-up drilling is planned to test these emerging targets, complementing the company’s diversified mineral exploration portfolio.