Sabre Resources secured shareholder approval to acquire 80% of two companies controlling 4,000km2 of tenements in the Tennant Creek region, setting the stage for extensive drilling programs backed by government co-funding. The company also completed a $2 million capital raise to fund exploration activities.
- Acquisition of 80% interests in East Tennant Ridge and North Arunta projects
- Up to 6,000m aircore and reverse circulation drilling planned at Kurundi North
- Northern Territory Government co-funding secured for diamond drilling
- Exploration at Dingo Project targets rare earths, critical metals, and uranium
- $2 million placement completed post-quarter to fund new projects
Strategic Acquisition Expands Sabre’s Footprint in Tennant Creek
Sabre Resources Ltd (ASX:SBR) has taken a significant step in its exploration strategy by securing shareholder approval to acquire an 80% stake in two companies holding 4,000km2 of tenements in the Northern Territory’s Tennant Creek Gold-Copper Region. These acquisitions encompass the East Tennant Ridge IOCG Projects and the North Arunta Gold Project, both situated on prospective extensions or repeats of the renowned Tennant Creek Mineral Field (TCMF), which historically yielded 5.5 million ounces of gold at 6.9 g/t and 700,000 tonnes of copper at 2.8%.
The East Tennant Ridge project, covering 2,875km2, lies along a structural corridor identified as one of Australia’s most prospective iron-oxide-copper-gold belts. The first drilling target is the Kurundi North Project, located 80km southeast of Tennant Creek. Here, a pronounced 10km corridor of magnetic and gravity anomalies, coupled with copper and bismuth soil anomalies beneath transported cover, has revealed standout ironstone-copper-gold targets mimicking the Tennant Creek system.
Drilling Campaign Set to Test High-Potential Targets
Sabre is preparing to commence an extensive drilling program of up to 6,000 metres combining aircore (AC) and reverse circulation (RC) methods at Kurundi North. This campaign aims to test the ironstone-hosted copper-gold targets along the East Tennant Ridge corridor, with the Northern Territory Government providing 50% co-funding for two diamond drill holes to follow up the most promising results.
In parallel, the North Arunta Gold Project, spanning 1,000km2, will see drilling targeting extensions of the Kroda Gold Trend. Historical intersections here include high-grade hits such as 12m at 15.7 g/t gold at Kroda 3 and other significant mineralised structures open at depth and along strike. Environmental approvals for drilling have been submitted to the NT Government.
Dingo Project Advances Critical Metals and Uranium Exploration
Beyond Tennant Creek, Sabre continues to advance exploration at its Dingo Project within the Ngalia Basin. Follow-up fieldwork on previously reported high-grade auger and rockchip samples; up to 1.22 g/t gold, 1.2% lead, 170 g/t copper, and 57.5 g/t bismuth; has set the stage for an aircore and RC drilling program targeting rare earth elements, critical metals, and uranium. The project lies in a uranium province analogous to the nearby Bigrlyi deposit, and anomalous soil geochemistry highlights multiple promising zones.
Pilbara and Eastern Goldfields Projects Maintain Momentum
In Western Australia, Sabre’s Sherlock Bay Nickel-Copper-Cobalt Project remains a cornerstone asset with a 24.6 million tonne resource grading 0.40% nickel, 0.09% copper, and 0.02% cobalt. The company secured a 5-year exemption from expenditure requirements and renewed the mining lease for 20 years to 2046, reflecting confidence in the project’s long-term potential.
Additionally, the Andover East lithium targets and Nepean South JV are poised for further exploration, with drilling approvals in place to test nickel sulphide and gold potential along prospective fault corridors and ultramafic units. The company is negotiating access agreements with native title holders for Andover tenements.
Capital Raising and Financial Position
Post quarter-end, Sabre completed the second tranche of a $2 million placement at 1 cent per share, issuing 200 million shares alongside 200 million options exercisable at 1.6 cents by June 2030. Peak Asset Management, the lead manager, received 60 million options as part of its fee. This capital raise is earmarked to fund the upcoming drilling programs across the newly acquired Tennant Creek projects.
The company ended the quarter with a cash balance of approximately $3.64 million, down slightly from $3.66 million at March 31, 2026. Net expenditure for the quarter was $381,000, including $328,000 on exploration and evaluation. Sabre also received $250,000 from the sale of its Ninghan gold assets to Capricorn Metals.
Bottom Line?
Sabre’s acquisitions and funded drilling programs position it to unlock value in one of Australia’s premier copper-gold provinces, but exploration outcomes and regulatory approvals will be critical to watch.
Questions in the middle?
- Will drilling at Kurundi North confirm the presence of Tennant Creek-style IOCG mineralisation?
- How will the North Arunta drilling results impact the company’s gold resource potential?
- What timelines and results can investors expect from the planned critical metals and uranium drilling at Dingo?