• Sabre Resources makes solid gains after acquiring two promising lithium tenements near Azure’s imperious Andover
  • Meanwhile, Fin is still carving it up in James Bay with more pegmatite finds
  • While Nimy is up on its copper sulphide smoke at the Mons project in WA

Here are the biggest resources winners in early trade, Wednesday October 25.

 

Sabre Resources (ASX:SBR)

Minerals-exploring junior Sabre is rattling up the local bourse today on the back of two key lithium tenement acquisitions in the Pilbara.

The big news here is that they’re not far from the major Andover discovery belonging to ASX lithium gun Azure Minerals (ASX:AZS).

We’re sick of saying it this year, but we’ll say it anyway… nearology.

The tenement additions confirm Sabre as one to watch in the world-class lithium pegmatite region, establishing some 235km2 along strike and on parallel structures to Andover, which seems likely to be the subject of a takeover bid from one of the world’s biggest lithium players SQM.

Source: Sabre Resources ASX announcement

The company notes the new tenements cover key lithium pegmatite targets only about 5km northeast of the Andover site (which, within a 5km wide corridor, has so far this year produced drilling intersections of up to 209.4m at 1.42% Li2O).

The new Sabre tenements reportedly lie over an inflexion in the area’s lithium structural corridor, “close to a magnetic intrusion in a similar setting to the Andover discovery”.

Geophysicists will get to work soon at the tenements, along with aircore drilling programs to test the peggies for hopefully some spod-tastic outcomes.

Sabre Resources CEO Jon Dugdale said:

“Sabre has established itself as one of the major tenement holders in the highly prospective northwest Pilbara region…

“The geology of our tenements appears similar to Andover – the only difference being the extent of cover over our target areas.”

SBR share price

 

 

Fin Resources (ASX:FIN)

Still on the peggie finds, but moving over to Quebec’s big dog district, James Bay… This lithium-hunting junior is still turning heads after making its April entry into the great white gold rush occurring in provincial Canada. 

It’s up near 30% at the time of writing on… no fresh news today (but it’s only a day or so old, so we’ll take it as a happily headache-free hangover).

On October 23, FIN announced the discovery of “at least five pegmatite bodies” during the maiden fieldwork program at its Ross lithium project, with one area hosting multiple outcrops and a large pegmatite boulder field with a strike length of 200 to 300 metres.

Here’s a pic of one of said boulders, with someone probably hard at geologically related work and not just playing Tetris.

A pegmatite outcrop at the Ross project. Source: FIN ASX announcement

Ross is situated roughly 100km along strike from Nemaska Lithium Corporation’s 36.6Mt Whabouchi lithium deposit.

Large megacrystic feldspars, coarse muscovite, quartz and fine red garnets were mapped across a number of the pegmatite float and outcrops visited, notes the company.

Meanwhile, follow-up fieldwork at Fin’s Cancet West project is now underway.

You can read a bit more about these projects here and here.

FIN share price

 

Nimy Resources (ASX:NIM)

WA critical metals explorer Nimy has soared today after a diamond hole at its Mons Project intersected 54m of nickel-copper sulphides from 118m.

Nimy executive director Luke Hampson says the intersection of 54m of substantial sulphide mineralisation is “clearly a game-changer for Nimy”.

“Importantly, the result is entirely consistent with the conductor plates we have modelled using geophysics,” he says.

“In light of this result, we are moving quickly to do DHEM and FLEM surveys to gain further understanding of the size of the intrusive and to locate related anomalies around and below the discovered sulphide zone.”

This all seems very exciting for Nimy on the surface, but, there’s one thing that needs noting, according to long-time Stockhead resources experts in our ear… the assays are pending. In other words, this is all based on visual sulphide sightings so far.

Maybe we’ll get on the “game-changing” narrative once the full results are in. Until then, though, it’s promising work out at Mons.

The company notes that planning for down-hole electromagnetic surveys is already underway.

And here are some pics if you want to visualise examples of the finds yourself…

Source: Nimy ASX announcement

NIM share price

 

Revolver Resources (ASX:RRR)

Copper explorer Revolver is up very nicely indeed today (+42% at time of writing) on the back of the delivery of $3m of equity funding.

The company notes it has pulled in funds from three existing shareholders for a share placement to each of A$1 million at an issue price of A$0.20 per share.

Per the company’s ASX announcement made earlier today:

“The subscribers will also each receive 1-for-5 attaching options with a A$0.20 exercise price and 3-year expiry, plus a 2.5% free-carried interest in a Mining JV to be established solely over the existing MRE at Revolver’s Dianne copper project in north Queensland.”

Following further, ongoing study work, Revolver is progressing to establish a Mining JV solely over the Dianne MRE, and it notes it’s in discussions with other potential investors regarding the potential joint venture.

More recent news of note from RRR…

RRR share price

 

Cygnus Metals (ASX:CY5)

Diversified critical minerals explorer Cygnus is another in the growing list of ASX-listed companies in the thick of the lithium-hunting action in James Bay.

The company is growing more and more excited by the day regarding the exploration program at its Auclair project which it says is “emerging as a major lithium discovery with three large spodumene-bearing pegmatites identified”.

Two of those three pegmatites, together named “Pegasus”, sit side by side and measure up to 75m long x 50m wide and 65m long x 30m wide, the company reports.

Some significant spodumene mineralisation apparently runs through Pegasus – up to 40% in some places, with some crystals more than a metre long.

The third pegmatite identified, “Lyra”, is 60m long x 15m wide also reportedly shows, under dense vegetation, “intense spodumene mineralisation” with crystals up to 10cm long.

Source: Cygnus ASX announcement

Essentially, the company has found a spod-tastic corridor at Auclair, which it says remains open in all directions.

And this fresh info comes on the back of recent sampling at the project that revealed a highly fertile, high-grade system – up to 6.5% Li2O.

CY5 share price

 

At Stockhead we tell it like it is. While Fin Resources is a Stockhead advertiser at the time of writing, it did not sponsor this article. 

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