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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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This article includes content from Sabre Resources Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Maiden Drill Program Set to Commence at the High-Priority Cangallo Porphry Copper Project
- Maiden RC drill program to commence at Cangallo in mid-December
- Program will test a large-scale, undrilled porphyry copper target
- Assay results expected around the end of January 2025
- Permitting underway for drill programs across other high-priority, large-scale porphyry copper targets at Lantana and Playa Kali
Access and drill pad preparations have commenced with drilling scheduled to start around mid-December. The planned program, which comprises a minimum of eight drill-holes for a total of ~2,500m, will take 3 to 4 weeks to complete with assay results expected around the end of January 2025.
Figure 1: Cangallo Porphyry Copper Prospect showing copper and molybdenum values and permitted drill sites.
Geological mapping and rock-chip sampling has outlined a partially exposed potential copper (+/- gold) porphyry system, within a large-scale (3km x 2km) caldera-like structure containing extensive colluvial and younger sediment cover.
The initial drilling program will test areas containing relatively intense veining (quartz) and porphyritic dykes, where higher copper (up to 0.65% Cu) and gold (up to 0.3g/t Au) values have been found. The possibility of a buried porphyry copper system beneath the extensive cover within the interpreted caldera-like structure will also be tested.
Cangallo is located close to significant infrastructure and is approximately 25km from the town of Chala, and within 10km of the coast.
Commenting on the imminent commencement of drilling at Cangallo, AusQuest’s Managing Director, Graeme Drew, said:
“This is a very exciting time for the Company as we are about to commence the maiden drill program at this high-priority porphyry copper target in Peru which we have been working towards for over 12 months.
Cangallo has never been drilled before and demonstrates classic geochemical and alteration signatures which suggest there is significant potential to discover large-scale copper porphyry mineralisation.
Success at Cangallo has potential to create significant value for our shareholders and we look forward to keeping our shareholders updated as the results become available.”
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This article includes content from AusQuest limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
