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Sabre Resources Ltd (ASX: SBR) is pleased to announce the detection of a second strong surface EM anomaly 2km to the southwest of the Discovery Zone resource at Sherlock Bay nickel sulphide project in Western Australia’s Pilbara region (see Figure 1). Significantly, the new anomaly, detected from a surface moving-loop EM survey, is projected to occur on the southern Sherlock Intrusive contact.
- Second strong electromagnetic (EM) conductor, massive sulphide target, identified on the southern contact of the Sherlock Intrusive, 2km southwest of the Discovery Zone resource.
- Diamond hole SBDD005, drilled beneath the Discovery Zone intersection in SBD072A of 24m @ 0.8% Ni, 0.13% Cu, 0.04% Co incl. 7m @ 1.02% Ni, 0.14% Cu, 0.04% Co1, produced further higher-grade nickel-copper-cobalt sulphide results associated with the northern contact of the Sherlock Intrusive. Results from SBDD005 include:
- 11.69m @ 0.54% NiEq* (0.43% Ni, 0.12% Cu, 0.03% Co) from 341.67m
incl. 2.97mm @ 0.86% NiEq* (0.75% Ni, 0.11% Cu, 0.03% Co) from 350.39m
incl. 1.00m @ 1.0% NiEq* (0.88% Ni, 0.12% Cu, 0.04% Co) from 351.4m
- 11.69m @ 0.54% NiEq* (0.43% Ni, 0.12% Cu, 0.03% Co) from 341.67m
- Downhole EM in SBDD005 detected a strong, off-hole conductor (C6) immediately west of the hole1 and down-plunge of the high-grade intersection in SBDO72A. The C6 conductor represents a target for further massive and breccia matrix sulphide zones with higher-grade nickel-copper-cobalt grades.
- Drilling set to commence to test the new strong EM anomalies to the west of the Discovery Zone2 and to the southwest on the southern contact of the Sherlock Intrusive. Drilling will target new higher-grade resources with potential to further upgrade the already substantial nickel-copper-cobalt sulphide Mineral Resource at Sherlock Bay3.
- In addition, potentially lithium bearing pegmatites have been intersected by SBDD0041 in volcanic rocks to the north of the sulphide mineralised horizon at Symonds Zone. Analytical results are pending for both the sulphide intersections and the pegmatite zones in this hole.
Sabre Resources CEO, Jon Dugdale, commented:
“The detection of a second strong EM anomaly, this time on the southern contact of the Sherlock Intrusive 2km southwest of Discovery Zone, has further enhanced potential for additional massive sulphides and an upgrade to what is already a substantial Mineral Resource at Sherlock Bay.
“This, combined with planned metallurgical studies and further engineering work, will allow the Company to fast-track a pre-feasibility study into a major new nickel sulphide development project, taking advantage of forecast future nickel and copper supply deficits and potential price increases.”
*see Appendix 1 for nickel equivalent (NiEq) calculations.
This new EM anomaly is similar in strength to the recently-detected strong EM conductor on the northern sherlock Intrusive contact, extending for 1km at the western end of the Discovery Zone nickel sulphide Mineral Resource. Intrusive-related magmatic sulphides have previously been intersected on both the northern and southern margins of the Sherlock Intrusive in diamond hole SBDD0024,5, confirming the prospectivity of both contact zones.
Both strong EM conductors represent untested new priority drilling targets for the discovery of further massive/matrix breccia sulphide mineralisation.
Figure 1: Sherlock Bay drilling locations & surface EM anomalies southwest of sulphide intersections
In addition to the EM anomalies, Sherlock Bay’s prospectivity has also been enhanced by higher- grade nickel-copper-cobalt bearing sulphide results from diamond drillhole SBDD005 (see location, Figure 1), the final hole of the latest drilling campaign
SBDD005was drilled as a 100m step-out hole below a previous Discovery Zone intersection in SBD072A of 24m @ 0.8% Ni, 0.13% Cu, 0.04% Co incl. 7m @ 1.02% Ni, 0.14% Cu, 0.04% Co1.
SBDD005 intersected a 12.2m semi-massive and stringer sulphide zone from 341.8m, including 10- 30% pyrrhotite (Po), chalcopyrite (Cpy) and the nickel sulphide pentlandite (Pn) across lobes of the Sherlock mafic/ultramafic Intrusive (Figure 1).
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EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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