daytrading aug 17 morning, page-5

sbr

Sabre Resources’ share value rockets on Namibian copper discovery


continues to hit new heights on the ASX following news of the discovery of a broad zone of copper mineralisation near surface in the very first hole of its diamond drilling program at the recently acquired Guchab copper prospect in northern Namibia.

Shares have spiked 319% in the past two weeks to reach an intra-day high of $0.365 yesterday. In the past three days alone more than 73 million shares have changed hands.

The first hole of Sabre’s current drilling program delivered stellar results of 107.75 metres at 1.15% copper and 6.93 grams per tonne (g/t) silver from 0.6 metres, including 2.35 metres at 13.24% copper and 70.84g/t silver and 23.55 metres at 2.08% copper and 10.11g/t silver.

The hole was originally only meant to be drilled to a depth of 50 metres, but was extended to 111.4 metres as visible mineralisation continued to be intersected.

Guchab is one of several copper prospects located on the Kombat Copper Trend, a 45 kilometre long lineament rich in copper and silver.

The prospect is a priority of Sabre’s due to the high grades encountered at surface and its similarities to the nearby Kombat Copper Mine, which produced 8.7 million tonnes at 3.1% copper, 1.1% lead and 26g/t silver.

Guchab has been shown to encompass three historic mining centres covering more than 4,000 metres of strike, defined by historical workings and surface geochemistry of up to 10,000 parts per million, or 1%, copper in soils.

Diamond drilling is continuing at Guchab during August and September.