update 30/06

Spoke to the GM of Exploration today:



Next Announcement?

In the next few weeks, they are waiting for the most recent assay results to come in before updating the market. In the next announcement they will lay a clear strategy out for the company, including where they see Guchab (including timelines for Jorc), and regional exploration across other high priority areas that have come from the geophysics.



Drilling Rigs?

Sabre have discontinued the Contractor Owned Drilling rig. It has moved off the Guchab Mountain and as such SBR are not engaging their services.

Sabre are using the company owned Drilling Rig on Guchab at the moment. They are up to drill number 64.

I speculate this was a decision based off an understanding of the operators of the contractor rig, a move to improved cost efficiency, and better control to start/stop drilling whilst doing assaying to better target drilling.



Other arrears of interest other than Guchab:

SBR maintained their drive towards advancing Guchab. They believe that a release to the market on Jorc was within the next few months to 3 months. but more clarity on this will be provided shortly in the next announcement after discussions with Luke.

SBR was looking forward to undertaking quick pass shallow RC/auger drilling across high priority targets that were identified from the Geophysics. This drilling could be undertaken quickly (1 week for drilling prep and a few weeks for for actual drilling), and at low cost (under $50 per metre including assaying). The idea was that if they found something interesting, they would progress with more drilling etc..

Tim wanted to pursue this strategy for quite some time whilst at SBR, he thought that SBR could advance Guchab whilst doing this on the side. And he said that there was enough money in the bank to undertake this low cost / quick exploration technique.

The end goal was 'net a bigger fish' in comparison to the notable Guchab.



Border/Driehok lead/Zinc:

SBR has been approached by interested groups on these deposits, and they are advancing discussions. SBR are not just holding onto them...they intend to develop these assets for the benefit of shareholders.

Sutto