Sabre Resources (ASX:SBR) is set to launch extensive drone magnetics surveys over targets within its Andover East Project in Western Australia after expanding its current landholding to 300km-square.
These surveys are aimed at defining magnetic lows in greenstone lithologies that may represent buried lithium-bearing pegmatitic intrusions.
This news comes after the company added a ‘large’ new tenement application adjoining its Andover East project to its portfolio.
The new tenement lies directly along-strike on northeast-trending magnetic lows within the magnetic greenstone stratigraphy that are interpreted to represent fault corridors intruded by non-magnetic, possible pegmatitic dykes.
Upon completing its drone magnetics surveys, Sabre, which has a market capitalisation of $15.35 million, will conduct detailed gravity, passive seismic, and aircore (AC) drilling work to test these soil-covered lithium-bearing pegmatite targets once the tenement applications are granted.
Sabre Resources Chief Executive Officer (CEO) Jon Dugdale says the company has uncovered several northeast-trending, magnetic low, Andover look-a-like fault corridor targets that extend for over 10km within the new application.
“Having built such a large tenement holding, we now look forward to kicking off extensive and detailed drone magnetics surveys to identify buried lithium-bearing pegmatites across Andover East and the recently acquired Andover Northeast tenements — which lie just 5km along-strike from Azure Minerals (ASX:AZS) Andover Project.”
“we now look forward to kicking off extensive and detailed drone magnetics surveys to identify buried lithium-bearing pegmatites across Andover East and the recently acquired Andover Northeast tenements”
Sabre Resources is a nickel, lithium and gold-focused explorer and developer with assets in Western Australia, as well as uranium-vanadium prospects in the Northern Territory.
As of 30 September 2023, the company had $3.616 million cash at hand, according to its latest quarterly report. Post-quarter-end, the company raised $2.6 million via a ‘heavily oversubscribed’ placement and another $0.7 million through a private placement to a professional investor client of Peak Asset Management.
Write to Aaliyah Rogan at Mining.com.au
Images: Sabre Resources
