SBR - Sabre Resources

[Agentm]

finished up close to 10% in the last hour on the news, nice little run

imho the encouraging signs look very enticing

 

[Agentm]

the drilling commenced yesterday and already there are what they call encouraging signs

ASX ANNOUNCEMENT & MEDIA RELEASE

20 October 2010

DIAMOND DRILLING UNDERWAY AT KASKARA

Diamond drilling commenced late yesterday afternoon (Namibian time) at Sabre's Kaskara copper-lead-zinc prospect. Encouragingly, there are several occurrences of mottramite (copper-lead-zinc vanadate) within the first 3 metres of the strongly altered and brecciated drill core. The rig is positioned well above the gossans in order to intersect them at depth.

finished up close to 10% in the last hour on the news, nice little run

imho the encouraging signs look very enticing

umm.. did i say 10% ????

the share closed up 23%

just as a reference, sbr have said kaskara is very similar to tsumeb

Tsumeb deposit
– Historically one of the world’s major copper producers
– 1903-1997
– 24.9Mt @ 5.50% Cu, 11.48% Pb, 4.01% Zn,
and 171.6g/t Ag
– Surface footprint of only 200 x 50 m
• Drilled to 1800 m beneath surface
– 40km north of the Ongava Polymetallic Project


KASKARA
• Similar metal signature to Tsumeb:
– Cu, Pb, Zn, Ge, Ga, As, V
• Similar geological features to Tsumeb
Early indications - Kaskara shows
many analogies to Tsumeb


• At least 16 gossans (weathered
sulphide horizons) exposed at surface.
• Mineralisation distributed over 3.6 km.
• Gossan analyses record:
• Copper up to 23.5%.
• Lead over 35%.
• Zinc up to 34.4%.
• Adjacent to historic vanadium mine.










The composition of descloizite-mottramite in relation to the trace-element distribution of Pb, Zn, Cu and V in the Otavi Mountain Land, South West Africa/Namibia


W.A. van der Westhuizena, E.A.W. Tordiffea, H. de Bruiyna and G.J. Beukesa

Department of Geology, University of the Orange Free State, P.O. Box 339, Bloemfontein 9300, South Africa
Revised 15 December 1988.
Available online 22 April 2003.

Abstract

The carbonate rocks of the Otavi Group (ca. 800 Ma) in the northeastern part of South West Africa/Namibia are known to contain Pb, Zn and Cu sulphide deposits with the mining activities at Tsumeb, Kombat and Berg Aukas being the most prominent. Vanadium mineralisation, associated with karst development, is often associated with the sulphide deposits, but occurrences without a sulphide association are also present.

The distribution of Pb, Zn, Cu and V in the dolomite and limestone of the Otavi Mountain Land delineates geochemical regions which coincide with the above mineralisation. This coincidence is also manifest in the type of V mineralisation; where high concentrations of Zn occur in the country rocks, descloizite predominates, whilst mottramite occurs when the Cu values are higher.

 

[Hatchy]

There is excellent news there - certainly looks like tough terrain to drill in and I think it will be a big process to take this exploration to mining level, but it's exciting!

The good shows on the surface appear to be strong indicators that it is a IOCG deposit typical to that region of Africa.

Everyone interested in the fundamentals of this share should have a read of the documents that AgentM posted a link to a couple of posts ago. Excellent background on the IOCG deposits in Africa.

Hatchy

 

[Agentm]

nice open again hatchy

there is a groundswell of interest in this one


from another forum

from Gavin van der Wath' research from BBY (may 2010, sp at that moment around 0,50 Aud):

"We believe the target drilling campaign has a high probability of intersecting high grade copper (+2%) at the recently discovered Kaskara deposit. A successful target drilling campaign indicating copper mineralisation will have an immediate effect on the share price.

The confirmation of a Cu rich resource could do anything from doubling the share price to a ten fold increase, depending on the tonnage and grade proven up."



imho when this one reached .50 again and then doubles up on any once announcements continue to look "encouraging".. then these prices may be the best you will ever see for a while

imho the share may be trading back to its speculative prices in the .50's b4 another announcement comes through.. lol fingers crossed

 

[Hatchy]

Not following trend this morning, but that makes me happy - it displays that the profit takers are jumping out and that the share is going through it's natural motions.

I would be very happy to see this share price reach 50c and then consolidate that price before moving upwards after the lab results come through on the core.

That being said i'd be happy to see this price touch back down to 30c and I could snatch up a few more!

I think SBR will be consistently open with the market, bringing announcements whenever they can.

AgentM is there anything in the announcements that say that they will be doing the onsite analysis for the core before sending to the lab? I'm not familiar enough with the process, but I can't see anything stated in any announcement that they will test the core. That would be cause for a short term price hike.

Cheers

 

[Agentm]

Not following trend this morning, but that makes me happy - it displays that the profit takers are jumping out and that the share is going through it's natural motions.

I would be very happy to see this share price reach 50c and then consolidate that price before moving upwards after the lab results come through on the core.

That being said i'd be happy to see this price touch back down to 30c and I could snatch up a few more!

I think SBR will be consistently open with the market, bringing announcements whenever they can.

AgentM is there anything in the announcements that say that they will be doing the onsite analysis for the core before sending to the lab? I'm not familiar enough with the process, but I can't see anything stated in any announcement that they will test the core. That would be cause for a short term price hike.

Cheers

best i can understand is that they no longer need to report on the mineralisation itself

everything they have seen thus far leads them to say:

"they indicate that there is a base metal sulphide mineralising system present in the subsurface at Kaskara"

they noted some indicators in the initial 3 meters of drilling

from this point on they have said this


"We will update shareholders with the results of the diamond drilling as they come to hand."

as they have already indicated they believe there is base metal sulphide mineralising system present, imho they dont need to report that again

imho they only need to report if one is not present.

my view is the next report will be what the mineralisation is in terms of what the results of the diamond drilling reveals.

remember they are not saying there is possibly or probably mineralisation there, they are specific

they indicate that there is a base metal sulphide mineralising system present in the subsurface at Kaskara

its only imho, but i think the results of the mineralisation are next to be reported.. nothing else is essentially needed to be said from sbr until then..

could be wrong, but its only imho

 

[J&M]

Hello

Thanks AgentM
for all the well informed updates on this thread

I am looking at this share on the chart

There was a resistance level at about 29 to 30 cents
That was a few days ago
The share has since gone up to 35 to 36 cents with more buyers then sellers
Would this now be the new resistance level

Just trying to read and understand charts

I do have a small order in at .32 cents

Thanks
James

 

[Hatchy]

Hi J&M,

I think a company like SBR you should be looking at the fundamentals not the charts.
It's more or less an investment rather than a trade and you need to get to know the prospects and the business to base a good buy in price off, rather than some imaginary or otherwise 'resistance levels'.

That's my 2c worth.

Hatchy

 

[Hatchy]

4 November 2010
DRILLING UPDATE, KASKARA
The first diamond drill hole commenced at the Kaskara copper-lead-zinc prospect on 19 October 2010. Drilling is progressing but has been slower than anticipated, with rig breakdowns and logistical issues associated with the difficult access to site.
Copper-bearing mineralisation has been visually identified at numerous depths in the first drill hole. The hole has intercepted the down-dip continuations of some of the reworked hematitic gossans from around 22 m depth. In drill core, the copper-lead-zinc vanadate minerals mottramite and descloizite are disseminated throughout the gossans (as they are at surface) but are also identified in fractures and veinlets outside the gossans. Spot sampling using a handheld XRF has confirmed elevated copper, lead and zinc values in these rocks. However, the drill hole collapsed prior to completion due to the broken, altered and weathered nature of the rocks adjacent to mineralisation. Several drill rods and the drill bit were lost.
Drilling was suspended for 5 days at month end for the drillers' scheduled monthly break. The second drillhole was commenced late Monday (1 November) and is currently at a depth of around 30 m. Preliminary observations from this second hole report mottramite, descloizite and hematitic oxidation in the drill core.
It is anticipated that the return of full assay results from Kaskara will take some time. Samples are shipped from Namibia to South Africa for sample preparation in Johannesburg. Pulps are then sent by air to Perth to be assayed at an accredited laboratory.
We will issue further updates as drilling progresses.

 

[Hatchy]

It's a bit difficult to interpret this update.
Am I right to think
1) The first hole is still going ahead, but there's been issues and a hole collapse
2) The second hole is underway and if 1) is correct then there's another Rig on the hill?

Or

1) The first hole is suspended because of the collapse
2) The original rig is being used on the second hole

Either way this doesn't really add or subtract anything - good shows of mineral formations we knew were already there. Mottramite and Descloizite.

I'd like to see some Au down there as well...

 

[Agentm]

It's a bit difficult to interpret this update.
Am I right to think
1) The first hole is still going ahead, but there's been issues and a hole collapse
2) The second hole is underway and if 1) is correct then there's another Rig on the hill?

Or

1) The first hole is suspended because of the collapse
2) The original rig is being used on the second hole

Either way this doesn't really add or subtract anything - good shows of mineral formations we knew were already there. Mottramite and Descloizite.

I'd like to see some Au down there as well...

they have one drill rig, it drilled as far as the gossans and due to the problems there, the instability of the rock, they terminated the drill hole

they had a 5 day break, then commenced a second hole from the same pad as planned, they were always doing 2 holes, one at a very fine angle close to the hillside, and a second one straight down, which is what they are drilling now

i think you missed a lot of critical statements in the announcement myself, as they announced exactly what the market needed to hear and what in previous announcements they said they thought was there

"Copper-bearing mineralisation has been visually identified at numerous depths in the first drill hole"

happily adding this afternoon myself

 

[Agentm]

hey hatchy

nice spike today after a few low days, kinda reverse to the trend of the asx really

been a while since a report has come through.. any day now i guess

 

[Hatchy]

Hi AgentM,
Yes I too have been thinking that it has been a while since a report has come through. I suspect it's a case of no news is good news. It at least means that they're drilling away successfully so far. TD on the core should only have been about 10 days I thought, but you never know how hard the rock is going to be underneath the top layers.

I'm more looking forward to the quantified report from the lab probably in January than what they find out straight away on the sample, I want some hard evidence to open the market's eyes to a great play.

The upwards trend the last few days has been encouraging to get it back up to about 30c. I'm happy at this level to sit and relax whilst results flow in gradually, then I might need a seat belt if this turns out to be anything like it's neighbour.

Cheers
Hatchy

 

[Agentm]

tsumeb was a monster alright, what a pipe that one was!


Tsumeb deposit
– Historically one of the world’s major copper producers
– 1903-1997
– 24.9Mt @ 5.50% Cu, 11.48% Pb, 4.01% Zn,
and 171.6g/t Ag
– Surface footprint of only 200 x 50 m
• Drilled to 1800 m beneath surface
– 40km north of the Ongava Polymetallic Project

"The Tsumeb mine is also renowned amongst mineral collectors. Between 1905 and 1996, the mine produced about 30 million tons of ore yielding 1.7 Mt copper, 2.8 Mt lead 0.9 Mt zinc, as well as 80 t germanium. The average ore grade was 10% Pb, 4.3% Cu, 3.5% Zn, 100 ppm Ag, 50 ppm Ge.

It is noted for 243 valid minerals and is the type location for 56 types of mineral. Some of the germanium minerals are only found in this mine."

its only about 40 km north of the kaskara gossans,

• At least 16 gossans (weathered
sulphide horizons) exposed at surface.
• Mineralisation distributed over 3.6 km.
• Gossan analyses record:
• Copper up to 23.5%.
• Lead over 35%.
• Zinc up to 34.4%.
• Adjacent to historic vanadium mine.


INITIAL IMPRESSIONS OF THE KASKARA DRILLING

The broad highly anomalous zones of mineralisation intercepted away from the mineralised gossans appear to be the outer expression of a base metal sulphide mineralising system. The gossans themselves are presently interpreted to be the collapsed, highly oxidised core of mineralisation along which weathering has penetrated into the subsurface. It is expected that, with closer proximity to the gossans, base metal mineralisation will increase, consistent with observations of secondary copper, lead and zinc minerals adjacent to the gossans in outcrop.

Faulting is likely to add some complexity to the distribution of mineralisation, locally truncating or concentrating mineralisation.




imho they are onto something there..

but its very much a share under the radar.. some exciting reports in the near future may change that i hope..

keeping plenty of my reserve capital spare on the side for this one i can assure you..

 

[Agentm]

sbr announced their findings thus far

COPPER, LEAD AND ZINC MINERALISATION
INTERCEPTED AT KASKARA


Copper-lead-zinc mineralisation intercepted in drilling at Kaskara.

Mineralisation is oxidised to depth.

Major mineral is mottramite (copper-lead-zinc vanadate).

Indicative of copper-lead-zinc sulphide mineralisation at depth.

Strong, deep oxidation is similar to other deposits of the region.

Current drilling to continue through the present wet season
(subject to access to site).

A second phase of drilling is scheduled for 2nd quarter 2011.

 

[Hatchy]

In my opinion, the market has made a poor interpretation of these results. Instead of a strengthened sp we see one that is dropping.

Oxidization to depth. Drilling through the wet season. How is this bad?

Wake up market!

Good buying for those who do a bit of reading about these African mineral plays. IMO

Hatchy

 

[benwex]

In my opinion, the market has made a poor interpretation of these results. Instead of a strengthened sp we see one that is dropping.

Oxidization to depth. Drilling through the wet season. How is this bad?

Wake up market!

Good buying for those who do a bit of reading about these African mineral plays. IMO

Hatchy

My view is the management need to improve their marketing as their story is not being understood...


benwex

 

[Hatchy]

You might be right Benwex - I don't want to see another days drops. I would like at least one decent story to pay off this year.

 

[Miner]

You might be right Benwex - I don't want to see another days drops. I would like at least one decent story to pay off this year.

I saw no posting on sBR for long time.
It dived to 17.5 cents with a very low volume.
I always believed the fundamentasl were goodis with this stock. But I am failing to understand why it is continuously falling.

I put a relatively buy order at 17.5 cents after re-entering by buying a small parcel at 25 cents.

I was shocked to see the buy went through today when the order would have expired otherwise the volume was so low.

Could any one please comment if drilling still showing sign of any red copper or the red is only for investors' investment or SBR going to tank further ? I still consider the fundaments are good for SBR

I hate to speculate if drill analysis on the samples taken in Namibia in early nov, sent to Perth through South Africa got done resulting into down side. I should be wrong as the down price would have been supported by high volume.

Any way will hold it unless it reaches my stop loss.

 

[Agentm]

great post imho

repost from another forum
nopundithere

Discovery

Doug Haynes who has been credited with the discovery of Olympic Dam defined a conceptual target for mineralization on Sabre tenements. Upon reconnaissance of this target area at least 16 'massive' poly-metallic gossans where found and the discovery called Kaskara. The gossans returned up to 23.5% copper, 35% lead and 34.4% zinc.

Matt Painter in 2009: "We've got all these Gossans poking out of the ground, there a great indicator of sulfide mineralization a depth. The fact that we have very strong copper,lead and zinc values in outcrop is telling us there has got to be copper, lead and zinc sulphides somewhere below surface."


Shadow of a Giant?

Metal signature and geological features similar to Tsumeb. Tsumeb was historically one of the worlds largest copper producers mined from 1903 to 1997. It contained 25Mt grading 5.5% Cu, 11.5% Pb, 4% Zn and 171g/t silver. Tsumeb had a surface foot print of only 200 x 50 meters and extended 1800m beneath surface. It is located 40Km from Kaskara.

So Far

Outcropping at Kaskara is over 800m of strike. (The surface strike of Tsumeb (200 by 50) would fit many times into the Kaskara surface footprint) Kaskara is only one outcrop in the 3.6 km Kaskara-Lucas Post corridor which may be all part of the same system.

Two RC holes where drilled 100m away from the strongly mineralised gossans on the gentle slopes below the outcrop. Both holes intercepted broad zones of strong anomalism and sub-economic mineralization. Fine grained pyrite has been observed over several tens of meters adjacent to a significant fault zone. These observations indicate there is a base metal sulphide mineralising system present in the subsurface at Kaskara.

Immediately after the encouraging results from the RC holes, a man-portable Longyear 38 diamond drill rig was ordered up the hill to test the gossans. Copper, lead and zinc was intercepted prompting the company to state; "we believe that we have intercepted the near-surface oxidised expression of deep- seated copper, lead and zinc sulphide mineralisation at Kaskara." and "widespread occurrence of the copper-lead-zinc vanadate mineral mottramite confirms Tsumeb-style mineralisation at Kaskara. Scientific consensus is that these base-metal-bearing vanadate minerals can only form in the weathered portions of sulphide deposits."

Encouragingly weathering at Kaskara appears to extend to some depths. This is a very positive sign that mineralisation at Kaskara may extend to considerable depth. Tsumeb was weathered to around 900m.

Assay results form the initial drill program are anticipated shortly.

A life changing stock potentially IMO...