SABRE RESOURCES LIMITED - Interim / Quarterly Report 2016

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [4 x 118] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

ASX ANNOUNCEMENT 29 July 2016

QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDED 30 JUNE 2016

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [4 x 148] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

==> picture [54 x 50] intentionally omitted <==

==> picture [55 x 50] intentionally omitted <==

Figure 1 – Vie w of the Otavi M ountain Land, a pproaching from the southwe s t on the highw a y from Windhoek

Border 2011 Scoping Study being reviewed in the light of the recent increase in the zinc price
Preparation for forthcoming mining licence applications continued during the quarter
Environmental Impact Assessments are 75% complete for the Zn-Pb projects at Border and Driehoek
Review of the historical Zn-Pb-V mine at Baltika and other targeting throughout the region continued in order to identify new opportunities for further exploration and development

ZINC- L EAD-SILV E R PROJECTS

Border

The sig n ificant upward trend i n the zinc p rice during the quarter has accele r ated the r e view the existing and new zinc and lead opportunities within the Otavi Mountain Land proj e ct. Sabre’s Border Zn- P b project h a s a JORC 2012 Inferred Resource of 16.0Mt @ 1.53% Zn, 0.59% Pb and 4.76g/t Ag is located w ithin a 25k m long significant regio n al zinc-lea d anomalou s corridor (Figure 2 ), which ho s ts a numb e r known oc c urrences in c luding Border, Toggen b urg and So u th Ridge to the E a st, and Har a sib to the w est (Figure 3 ).

In light o f the incre a se in the zi n c price a r e view of the commodity price, capit a l and oper a ting cost assump t ions in 201 1 Scoping S t udy comple t ed at Bord e r is underw a y. Metallur g ical sighter testwork

==> picture [47 x 42] intentionally omitted <==

==> picture [55 x 42] intentionally omitted <==

==> picture [54 x 42] intentionally omitted <==

==> picture [55 x 42] intentionally omitted <==

==> picture [54 x 42] intentionally omitted <==

==> picture [55 x 42] intentionally omitted <==

==> picture [48 x 42] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [4 x 65] intentionally omitted <==

==> picture [52 x 65] intentionally omitted <==

on a bu l k sample c o nducted for the 2011 s t udy shows that the Border minerali s ation resp o nds very favoura b ly to Heav y Media Se p aration (‘H M S’). Borde r mineralisa t ion upgrad e s with HM S , before grinding and flotati o n, to a pr o duct of 12. 5 % Zn + 6 . 3% Pb wit h recoveries of 86% a n d 92.5% respecti v ely.

Togge n burg

Toggen b urg is loca t ed along s t rike from B order, and is interpreted to be co n trolled by the same structur e s (Figure 2).

Anomali e s defined a t Toggenburg measure over 2.8 km long and u p to 250 m w ide and ar e open to the eas t and west. The anomalies have a n area mor e than four times the s i ze of the equivalent anomal y at Border, w here a 0.1 % Zn+Pb c u toff in the n e ar-surface a pproximat e s the footprint of zinc and lea d sulphide m i neralisation at depth.

Maximu m combined zinc and le a d values id e ntified in s h allow geochemical drilli n g at Togge n burg are in exce s s of 2.9%. F our targets have been s elected for r everse circ u lation drillin g . It is expe c ted that, like the B order Zn-Pb deposit to the west, mineralisation will dip to t h e north-nor t hwest, parallel to the host dol o mite seque n ce.

==> picture [36 x 79] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [36 x 79] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [36 x 79] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

Figure 2 – Sabre’s Bor d er and Togge n burg Zn-Pb p ro jects are loc a ted along the B order-Toggen b urg Corridor w hich hosts anomalus zinc and lead m ineralisation o v er 25km.

FURT H ER TARG E TING FO R ZINC A N D LEAD P R OJECTS

Collatio n and revie w of data for the histori c al Baltika Z n -V2O5 mini n g centre c o mmenced during the period. B altika is lo c ated within and towar d the west o f Sabre’s EPL 3540 an d produced 5820t of concent r ate grading 9% vanadi u m pentoxi d e between 1931 and 1942. Vanadium mineralisation is associated with eas t -west trending zinc an d lead - bea r ing structur e s proximal to the cont a ct which hosts t h e Kombat a nd Guchab Cu-Zn-Pb mining cen t res to the e ast within t he Kombat Corridor (Figure 3 and Sabre Otavi Moun t ain Land C o pper and Zi n c Project s u mmary). Detailed interrogatio n and interp r etation of hi s torical datasets continu e d during th e quarter.

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [4 x 65] intentionally omitted <==

==> picture [52 x 65] intentionally omitted <==

COPP E R PROJE C TS

Propos e d surveys a t Guchab South remain o n hold pending the EPL renewals.

LICEN C E RENE W ALS

Renewal applicatio n s for both E PL-3540 a nd EPL-35 4 2 were su b mitted in S e ptember 2 0 15. The Compa n y continues to await notification by the Ministry o f Mining an d Energy ( M ME) of their renewal. Several meetings a n d discussio n s were hel d with the M M E during the quarter to expedite th e renewal process .

==> picture [27 x 98] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [32 x 98] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [27 x 98] intentionally omitted <==

==> picture [32 x 98] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [55 x 60] intentionally omitted <==

==> picture [54 x 60] intentionally omitted <==

==> picture [27 x 98] intentionally omitted <==

==> picture [32 x 98] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

==> picture [55 x 59] intentionally omitted <==

==> picture [54 x 59] intentionally omitted <==

Figure 3 – Proposed 5 0% reduction s (yellow) to th e Company’s E PLs in the Ot a vi Mountain L and, as mand a ted by the Ministry of Mines and E nergy. Note th a t all areas an d prospects of i n terest have b e en retained. T h e present lice n ce outlines (dashed lines) remain current until the renewals are g r anted.

PREP A RATION FOR MINING LICENCE APPLIC A TIONS

Sabre i n tends to s u bmit applic a tions for a number of M ining Lice n ces within t he forthco m ing EPL renewal period (i.e. prior to end October, 2 0 17). Sever a l potential sites have b e en selecte d , namely Border, Guchab, D riehoek, B a ltika and K a skara. The application process re q uires sub m ission of extensi v e document a tion, including detailed g eological m aps, enviro n mental rep o rts, resourc e reports, and sco p ing studies .

During t he quarter, further progress was m ade on the collection and collation of data an d mineral resourc e informatio n required fo the mining licence applications. W o rk also con t inued on pr e paration for the E nvironment a l Impact As s essments r e quired for m ining licenc application s .

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [4 x 65] intentionally omitted <==

==> picture [52 x 65] intentionally omitted <==

S A BRE’S OT A VI MOUN T AIN LAND COPPER A N D ZINC P R OJECT

S a bre Resources Ltd (“ Sabre ” or “ the Company ”) is a Namibia-focused, Austr a lia-based basem e tals explora t ion company . Sabre hold s a majority i n terest in a s t rategic land h olding of about 7 0 0 km[2] of gra n ted explorati o n licences a n d 350 km[2] of exploration li c ence applica t ions in the O t avi M o untain Land (“OML”) in n orthern Nam i bia. The OML is interpret e d to be an e xtension of the C e ntral African Copperbelt, w hich compri s es the Zam b ian and Katangan (DRC) C opperbelts a nd c o nstitutes the w orld’s riches t sediment-hosted copper p rovince.

==> picture [28 x 118] intentionally omitted <==

==> picture [33 x 118] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [54 x 69] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [54 x 69] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [54 x 69] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [54 x 69] intentionally omitted <==

==> picture [28 x 118] intentionally omitted <==

==> picture [33 x 118] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [54 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [54 x 70] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [54 x 69] intentionally omitted <==

==> picture [55 x 69] intentionally omitted <==

==> picture [54 x 69] intentionally omitted <==

==> picture [382 x 8] intentionally omitted <==

----- Start of picture text -----

Sa b re’s Otavi Moun t ain Land copper a nd zinc project, in northern Namibia. Applications a r e subject to Minissterial approval.
----- End of picture text -----

S a bre has defi n ed copper mineralisation i n two major tr e nds with pot e ntial for Tsu m eb, Kipushi a nd K o mbat brecci a -style massive sulphide pi p es, and Tsc h udi –style str a tiform miner a lisation. Copper in geochemical drilling at Gu c hab South h a s identified v i sible chalcocite and malac h ite over a 600m b y 200m zone a long trend e a st of the Kombat Copper M ine.

S a bre has also defined two m ajor trends w ith stratabou n d zinc-lead s u lphide miner a lisation. As w ell a s containing t h e Border zi n c-lead deposit (16.0 Mt @ 1.53 % Zn, 0.59 % Pb a nd 4.76 g/t A g), recent work h a s uncovered significant Z n -Pb geoche m ical anomalies at Togge n burg with u p to 2. 9 0 % Zn+Pb o ver 2.8 km s t rike length d e fined to date.

S t rategically th e Company is focusing on h igh-value de p osit styles:

High grad e , copper-ric h Tsumeb- an d Kipushi-typ e deposits. K o mbat-style e p igenetic copper mineralisation is consid e red to be a subset of this t y pe. o Tsu m eb (OML) – 2 4.9 Mt @ 5. 5 % Cu, 11.5 % Pb, 4.0 % Zn & 172 g/t A g , and o Kipu s hi (DRC) – h istorical pro d uction 60 Mt @ 10 % Cu a nd 11.03 % Z n and histor i cal reso u rces of 26 M t @ 2.18 % C u and 19.05 % Zn.

==> picture [28 x 118] intentionally omitted <==

----- Start of picture text -----


T
d
o
----- End of picture text -----

Stratabou n d epigenetic zinc-lead de p osits with fav o urable metallurgical chara c teristics.

T h ere is also a secondary focus throughout the region on Copp e rbelt-style s t ratiform Copper d e posits (e.g. T schudi in th e OML). Expl o ration is mai n ly in the ext e nsive areas o f cover or poor o u tcrop which p revious explorers largely i g nored.

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [4 x 65] intentionally omitted <==

==> picture [52 x 65] intentionally omitted <==

==> picture [358 x 325] intentionally omitted <==

----- Start of picture text -----

Sabre’s strategic focus on t he Toggenburg (z inc-lead), Kaska r a (copper-
zinc- l ead-vanadium), a nd Guchab Sout h (copper) project areas.
----- End of picture text -----

==> picture [26 x 130] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [26 x 131] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

T h e Otavi Mou n tain Land region is well s erved by se a led roads, rail to port, hig h voltage po w er, te l ephone and water, and is close to ma j or towns an d mining processing faciliti e s, including the K o mbat copper concentrator and Tsumeb Smelter complex (one of o nly five oper a ting smelter s in A f rica).

For further information please contact:

David C h apman, M a naging Dire c tor Phone (08) 9481 7833

Or cons u lt our webs i te: http://www.sabresources.com /

Competent Person Declaration

The inform a tion in this report that relates to E x ploration Results is based on infor m ation compiled b y David Chapmaan who is Managi n g Director of Sabre Res o urces Ltd, and w ho is a Member o f The Australian Institute of Mining and Metallurgy. Mr Chapman haas sufficient experience that is relevant to t he style of miner a lisation and typ e of deposit unde r consideration a n d to the activity t h at he is undertakking to qualify as a Competent Person as d efined in the 2012 Edition of the “Australian Cod e for Reporting o f Exploration Results, Mineral Resoource and Ore R eserves”. Mr Chapman c o nsents to the in c lusion in the report of the matters b ased on his infor m ation in the for m and context in whhich it appears.

Forward-Looking Statements

This document may include f orward-looking statements. Forwa r d-looking statem e nts include, but a re not limited to, statements concerning Sabre Resources L td’s planned ex p loration program m e and other sta t ements that are n ot historical fact s . When used in tthis document, th e words such as "could," "plan," "estimate," "expect," "intend," "may”, "pote n tial," "should," a n d similar expres s ions are forward--looking stateme n ts. Although Sabre belie v es that its expectations reflected i n these forward-l o oking statement s are reasonable, such statements involve risks and uncertainties and no ass u rance can be giv e n that actual res u lts will be consis t ent with these fo r ward-looking statements.

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

==> picture [4 x 65] intentionally omitted <==

==> picture [52 x 65] intentionally omitted <==

==> picture [55 x 65] intentionally omitted <==

APPE N DIX – LIC E NCE SCHEDULE.

				Tenement	Area
Coun try	State/Re	gion	Project	ID	(km 2)	G rant date	In terest
Namib ia	Otjozond	jupa	OtaviM ountain Landb ase metals	EPL3540	213.2	3 0/10/2006		80%
				EPL3542	475.5	3 0/10/2006		70%

AI assistant

SABRE RESOURCES LIMITED Interim / Quarterly Report 2016

65750_rns_2016-07-28_ffaa99bf-742f-4abe-a948-a26e98e2c48a.pdf

QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDED 30 JUNE 2016

ZINC- L EAD-SILV E R PROJECTS

Border

Togge n burg

FURT H ER TARG E TING FO R ZINC A N D LEAD P R OJECTS

COPP E R PROJE C TS

LICEN C E RENE W ALS

PREP A RATION FOR MINING LICENCE APPLIC A TIONS

S A BRE’S OT A VI MOUN T AIN LAND COPPER A N D ZINC P R OJECT

For further information please contact:

APPE N DIX – LIC E NCE SCHEDULE.

AI assistant

SABRE RESOURCES LIMITED — Interim / Quarterly Report 2016

65750_rns_2016-07-28_ffaa99bf-742f-4abe-a948-a26e98e2c48a.pdf

QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDED 30 JUNE 2016

ZINC- L EAD-SILV E R PROJECTS

Border

Togge n burg

FURT H ER TARG E TING FO R ZINC A N D LEAD P R OJECTS

COPP E R PROJE C TS

LICEN C E RENE W ALS

PREP A RATION FOR MINING LICENCE APPLIC A TIONS

S A BRE’S OT A VI MOUN T AIN LAND COPPER A N D ZINC P R OJECT

For further information please contact:

APPE N DIX – LIC E NCE SCHEDULE.

More from SABRE RESOURCES LIMITED

SABRE RESOURCES LIMITED Interim / Quarterly Report 2016