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Sabre Resources Launch Follow-Up Drill Program at the Dingo Project

18 January 2024 10:31

Sabre Resources Limited (ASX:SBR) is set to begin a multi-phase exploration program at its Dingo Project in the Northern Territory, aiming to further evaluate the high-grade uranium results previously identified during its drilling campaign at the Eclipse 1 Prospect.

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Figure 1: Dingo Project tenements showing uranium deposits in the area and targeted Mt Eclipse Sandstone

High-Grade Uranium

The new exploration program at the Dingo Uranium Project, situated within the Company’s 1,100 square kilometre Ngalia Basin tenement package, is designed to build upon the high-grade results obtained during the preceding drilling campaign.

Sabre reported a 1.3 metre high-grade interval up to 5,194ppm eU3O8 within a 2.8 metre zone grading 2,841ppm eU3O8 from 167.5 metres down-hole at the Eclipse 1 Prospect (CF55P).

Additionally, a shallower intersection of 0.8 metres @ 1,186 ppm eU3O8 from 124.7 metres was also recorded in C58P1, located to the south of CF55P, suggesting the potential for mineralisation to be shallower in the southern region, which remains untested.

The initial objective of the drilling program was to assess the shallow-dipping Mt Eclipse Sandstone (MES) immediately south of the excised Camel Flat Mineral Resource, totalling 211,300t @ 1,384ppm U3O8. Sabre notes that limited follow-up or extension drilling has been conducted to explore this shallow-dipping zone near the MES base.

In the broader context, the MES contains multiple high-grade tabular, fluvial sandstone-hosted uranium deposits, such as the Bigrlyi uranium-vanadium deposit with a significant Indicated and Inferred Mineral Resource of 7.46Mt @ 1,283ppm U3O8 and 1,297ppm V2O5.

Sabre hopes the follow up campaign will gain a better understanding of the 45 kilometres of strike-length within the MES, which remains largely untested.

The Company is currently undertaking geophysical programs to delineate aircore and RC drilling targets on the immediate extensions of known uranium deposits and trends. This effort includes testing previously identified high-grade results in the MES, as well as exploring extensive palaeo-channel targets that persist beneath shallow cover.

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Figure 2: Dingo Uranium Project, high-grade uranium results and Mineral Resources with key radiometric anomalies

Company Comments

Sabre Resources CEO Jon Dugdale said that the identification of high-grade uranium of up to 5,194ppm eU3O8 in previous drilling highlights the prospectivity of the Company’s Ngalia Basin Projects.

“Sabre’s 1,100 square kilometre tenement package in the highly-prospective Ngalia Basin is surrounded by high-grade uranium deposits and remains largely un-explored due to shallow soil cover,” he said.

“Uranium exploration in the Ngalia Basin is actively encouraged by the Northern Territory Government and its location in an arid area 300km northwest of Alice Springs makes it one of Australia’s best regions for uranium development.”

“Our recent interpretation of previous geophysics and drilling has highlighted these previous high-grade results and over 50km of prospective extensions to the key Mt Eclipse Sandstone contact zone.”

“An aggressive field program of detailed drone magnetics, gravity and passive seismic will commence as soon as landholder access agreements are in place and will aim to define priority high-grade uranium targets for aircore and RC drilling programs in 2024.”

SBR’s Australian Securities Exchange-listed share price has risen 3.13% and is currently trading at $0.033 (10.15am UTC+ 8 hours).

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