update

Spoke to SBR today, as usual they were very professional and helpful. I do not think the below represents price sensitive information, and if there are any questions on the accuracy of the below, they can be confirmed directly with SBR.



Firstly what was reiterated to me was that SBR did not believe the current SP reflects the underlying fundamentals and prospects of the company. Sabre has cash, a project which is highly prospective, and an active exploration programme.


EISERNENHUT:

- 5 Reconnaissance Drill Holes finished at Eisernenhut.

- Assays results expected December.

- Focussed on testing the geological structure underneath the surface Gossan

- Gossan they were tagerting measures 200m X 60 metres on the surface. This was similar in size to the Gossan at Tsumeb.

- Recon Drilling was position away from the Gossan (not drilled directly on top of the Gossan), to get a better understanding of the geological structure underneath.

- Testing vertical extents from surface up to 60 metre depth.



WHERE ARE THE DD RIGS NOW:

- Company Owed Rig situated on the southern extension. Testing deeper extensions of the mineralisation.

- Other DD Rig situated around Pad 4.


WHAT IS THE SBR RESOURCE MODEL TELLING THEM:

- SBR’s Resource Model currently in place is quite accurate and reliable.

I.e. When the model shows that mineralisation will begin 60 metres vertical depth for a hole they are about to drill; after the hole is drilled, they are finding that mineralisation is intersected around the 60m vertical depth.

- The ‘initial exploration target’ for the GUCHAB CANYONS AND SURROUNDS is:

5-10 million Tonnes @ 1-3% Copper & 10-30 gpt Silver

SBR source had high level of confidence the Tonnage will be at the upper end, and was confident grade achieved will be around 2-3%.



- Increasing levels of Sulphide from the deeping drilling (evident from holes 45 & 46)

SBR is starting to see higher grade Cu as Drills go deeper as per previous announcement.

What is also very interesting is that they are hitting Chalcocite (which is the purest of the Copper Sulphide Ores).

From their modelling, they expect Malachite in oxidized expression (around 1% Cu content), trending towards Chalcocite as drills move deeper, then trending towards the primary Sulphide Zone of Bornite and Chalcopyrite as they move deeper still. In general 2-3% Copper Grades in Sulphide is what their modelling is suggesting..


Good luck to all holders,

Sutto