Sabre hits more nickel sulphides at WA’s Sherlock Bay, battery metals play continues to solidify

Sabre Resource’s (ASX:SBR) plans to capitalise on a forecast nickel supply deficit in 2025 appear on track with the company intersecting yet another raft of nickel sulphide hits in the latest drilling undertaken by Sabre at its Sherlock Bay nickel project. 

Sabre today reports the intersection of two zones positive for nickel sulphides at Sherlock with a combined width of 23.6m worth of intersections. 

Assays are still pending, but early-stage XRF analysis suggests nickel concentrations could be up to 4% in-core; well above high-grade classification cut-offs for nickel published by investor information provider Undervalued Equity (2% nickel.) 

Shareholders would be wise to note XRF readings are subject to technical errors and ought not be taken as absolute evidence of grades. 

Sulphides the name of the game in EV space 

The WA project is also prospective for copper and cobalt, Sherlock boasts a nickel resource of around 100,000t. 

The company did the same back in October; assays are still pending as long delays at laboratories continue to define the exploration landscape.

A number of ‘off-hole’ anomalies at Sherlock are also logged today, laying the groundwork for further infill drilling on-site.

Sabre is hunting for nickel sulphides at Sherlock, a far superior form of nickel mineralisation for the purposes of downstream refining into an EV-battery-compatible product. 

Potential to grow size of project 

“The detection of multiple, strong, off-hole conductors, continues to enhance the potential to significantly increase both the grade and size of this already substantial nickel-copper-cobalt sulphide resource,” Sabre chief Jon Dugdale said. 

The Company is well funded to continue drilling. Following receipt of results, we plan to extend and drill-define these higher-grade resource targets and drive this important nickel-copper-cobalt project towards development.” 

Dugdale highlighted the high levels of demand currently underpinning market trends for nickel and cobalt, calling the pressure on suppliers unprecedented. 

Worth noting: UBS analyst Levi Spry notes today the nickel spot price is 30% above the firm's forecast for this time of year at US$13.04/lb.  

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Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Sabre was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.