Sabre Resources (ASX:SBR) has successfully finalised a $2 million capital raising, securing the necessary funds to advance its exploration programs in the Northern Territory. The placement, which reached its conclusion following shareholder approval on June 30, involved the issue of 161,384,518 shares at 1 cent each. These funds are earmarked for the systematic testing of copper and gold targets across 4,000 square kilometres of tenements recently acquired by the company.

"We are very pleased to have completed and received all funds from the $2M placement to fund exploration of these transformative copper and gold projects in highly prospective regions of the Northern Territory."
— Jon Dugdale, CEO

The company’s immediate operational focus is the Kurundi North project, situated within the East Tennant Ridge corridor. Sabre is preparing to launch a drilling program of up to 6,000 metres, utilising both aircore and reverse circulation techniques. This campaign aims to evaluate magnetic and gravity anomalies that the company believes share structural characteristics with the major ironstone-copper-gold systems historically identified in the Tennant Creek mineral field.

Beyond Kurundi North, the company is positioning its North Arunta Gold Project for future exploration. This 1,000-square-kilometre area sits along the extension of the Kroda gold trend, where historical drilling identified shear-hosted mineralisation. To facilitate upcoming work, the company is currently preparing to lodge an Environmental Mining Licence application with Northern Territory authorities. Once this regulatory hurdle is cleared and landholder access is finalised, Sabre plans to shift its technical focus to these high-priority gold targets immediately following the completion of the drilling currently scheduled for the Kurundi program. The capital raised ensures the company has the financial runway to execute this targeted, multi-phase exploration strategy across its newly acquired holdings in the region.

Read the full announcement: $2M Placement Completed to Fund NT Cu Au Projects Drilling