Highlights

  • Rockchip sampling at Dingo Project returned high REE and uranium anomalies across multiple targets.
  • Auger soil sampling and spectrometer surveys completed at Dingo and Lake Lewis projects.
  • Cash balance of AUD 3.84 million at quarter-end to support upcoming exploration.

Sabre Resources Limited (ASX:SBR) released its quarterly activities report for the period ended 30 September 2025, outlining exploration progress across its uranium, rare earth element (REE), and critical metals projects within the Ngalia Basin, Northern Territory.

Exploration Activities in the Ngalia Basin, Northern Territory

During the quarter, the company identified highly anomalous Total Rare Earth Oxide (TREO), uranium, and associated critical metals (Cu, Bi, Sn, W) from three new target areas at the Dingo Uranium-REE-Critical Metals Project. Key highlights included:

  • Dingo East: Rockchip samples returned up to 1,364ppm TREO along a 3km strike-length corridor of pegmatite dykes and fault zones.
  • Rankins North: Results up to 169ppm U, 289ppm Cu, 201.6ppm Bi, and 595ppm TREO recorded across a 2km² area.
  • Roadside: REE results up to 688ppm TREO over a 5km NW-SE trending fault zone.

Mapping and sampling at the Eclipse IP Uranium Target identified anomalous uranium within the Mt Eclipse Sandstone, a unit known to host high-grade uranium deposits such as the Bigrlyi deposit. Gradient Array Induced Polarisation (GAIP) data highlighted multiple chargeability anomalies representing potential sulphidic uranium-bearing horizons.

Lake Lewis Uranium Project Work Advancing

At the Lake Lewis Uranium Project, Sabre completed auger soil sampling and spectrometer surveys over strong radiometric anomalies. The project is considered prospective for calcrete-hosted uranium-vanadium mineralisation similar to the nearby Napperby resource. Results from the current fieldwork are pending.

Pilbara and Eastern Goldfields Exploration Update

In Western Australia’s Pilbara region, the company advanced its Sherlock Bay Nickel-Copper-Cobalt Project, which contains a Mineral Resource of 24.6Mt @ 0.40% Ni, 0.09% Cu, and 0.02% Co. The mining lease was renewed for 20 years to September 2046, and a five-year expenditure exemption was granted earlier in the year.

Further reviews continued on the Sherlock Pool JV (earning 80% from Jindalee Lithium Ltd) and Andover East Lithium Targets, with field programs planned following the grant of tenements and access approvals.

In the Eastern Goldfields, Sabre advanced its Nepean South JV and Cave Hill Projects, targeting gold, nickel, and lithium mineralisation. A Program of Work has been submitted to the Department of Mines for planned drilling at Nepean South.

Corporate and Financial Position

For the quarter, total expenditure amounted to AUD 404k, including AUD 226k in exploration costs. Cash reserves stood at AUD 3.84 million as of 30 September 2025. Related-party payments during the period totalled AUD 10k.

As part of the sale of its Ninghan Gold Project to Capricorn Metals Ltd, Sabre expects a further payment of AUD 250k (cash or shares) upon the commencement of drilling or by May 2026, along with potential milestone payments of up to AUD 1.5 million and a retained net smelter royalty.

Share Performance

SBR’s shares trading at AUD 0.013 per share on 31 October 2025, Up by 18.18% from its previous close of AUD 0.011.