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- Sabre Resources (SBR) has identified three major drill targets at the Bonanza Gold Project, following the interpretation of an aeromagnetic survey
- The project, situated in the Youanmi goldfields of Western Australia, is adjacent to Ramelius Resource’s Penny West Gold Discovery
- One of the major targets lies on a portion of a fault line within Sabre’s tenement, which also passes through Penny West
- Sabre is considering extending the aeromagnetic survey at the project and will test undertake aircore and reverse circulation drilling to test the newly identified targets
- Shares have jumped 16.7 per cent in early trade to 1.4 cents
Sabre Resources (SBR) has identified three major drill targets at the Bonanza Gold Project in the Youanmi Goldfields in Western Australia.
The company engaged Pegasus Geophysics to carry out an aeromagnetic survey over a two-kilometre by three-kilometre structural target area in the northeast of the tenement.
Following the interpretation of survey data, Sabre has identified several northeast-trending fault line and three targets for drill testing.
This includes one target situated on a portion of a fault line within the Bonanza Project, which also passes through the Penny West Gold Discovery in Ramelius Resources’ adjacent tenement.
The second target was identified as a possible dilation zone on the juction between another northeast-trending fault line and a northwest-trending fault line, which may represent a splay off the Youanmi shear.
The third target is located near the junction of a northwest-trending splay from the Youanmi Shear and another northeast-trending fault line.
These targets will be tested in an upcoming drilling campaign employing firstly an aircore drilling rig and later a reverse circulation rig.
Sabre is also considering extending the aeromagnetic survey at Bonanza to the west and the south of the area already surveyed.
Shares have been trading 16.7 per cent higher at 1.4 cents at 10:30 AEST.
