Second Strong Electromagnetic Massive Sulphide Target Identified 2KM Southwest Of Discovery Zone Resource

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
• 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 SBDD002^4,5, 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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