SBR 5.56% 1.9¢ sabre resources limited

Here is something to start with Sutto : SBNC Sherlock Bay Nickel...

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    Here is something to start with Sutto :
    SBNC​

    Sherlock Bay Nickel Corporation Limited​

    ABN 46 008 942 809​

    Level 4, 5 Mill Street, Perth, W.A. 6000 Telephone 08) 9322 2288​

    P.O. Box 7752, Cloisters Square W.A. 6850 Facsimile: (08) 9324 2164​

    Email: ​

    The Manager​

    Australian Stock Exchange Limited​

    Company Announcements Office​

    4th Floor, 20 Bridge Street​

    Sydney NSW 2000​

    17 August 2004​

    Dear Sir / Madam,​

    Re: Upgrades to Sherlock Bay Nickel Project Resources.​

    The Directors of Sherlock Bay Nickel Corporation Limited (“SBNC”) are pleased to​

    announce the latest major upgrade to its nickel resource base, at its Sherlock Bay​

    Nickel Project located in the North West of Western Australia. This upgrade is the​

    result of a Reverse Circulation and Diamond drilling programme that has been carried​

    out by SBNC since it restarted drilling in March.​

    This significant upgrade has lifted the resource base at the Sherlock Bay Nickel​

    Project for both the Symonds and the Discovery Deposits from the previously​

    announced 9,000,000 tonnes grading 0.53% Ni, with a contained Nickel Metal content​

    of 47,700 tonnes, up to a current substantial resource base of 33,000,000 tonnes​

    grading 0.49% for a contained total of 161,880 tonnes of nickel metal. This​

    upgrade gives SBNC the ability to extend the current life of mine from 4 to 5 years to​

    in excess of a decade.​

    Resources are as indicated below:​

    Tonnes Ni % Contained Nickel​

    Metal Tonnes​

    Symonds Deposit​

    Measured 7,200,000 0.53 38,160​

    Indicated 3,600,000 0.53 19,080​

    Inferred 9,600,000 0.53 50,880​

    Total 20,400,000 0.53 108,120​

    Discovery Deposit​

    Measured 4,200,000 0.38 15,960​

    Indicated 5,600,000 0.45 25,200​

    Inferred 2,800,000 0.45 12,600​

    Total 12,600,000 0.43 53,760​

    GRAND TOTAL​

    33,000,000​

    0.49​

    161,880​

    SBNC​

    Background​

    SBNC is in the final stages of the completion of a bankable feasibility study. This is​

    expected to be able to be completed in the near term with the upgrade of the resource​

    estimate now completed. The company has previously announced that it intends to​

    mine and process 2 million tonnes of crushed ore per year from the Sherlock Bay​

    Nickel Project, which will produce 8,500 tonnes of nickel metal /1600 tonnes of​

    copper, 100 tonnes of cobalt per year, at an operating cost of AUS$1.70 per lb (after​

    allowing for Cu credits. Metallurgical test work carried out by independent​

    laboratories on the ore from Sherlock Bay has shown recovery rates in excess of 91%,​

    in a short leaching time of 37 days.​

    For and on behalf of Sherlock Bay Nickel Corporation Limited​

    A L Gerick​

    Managing Director​

    Technical Information contained in this report has been compiled by William D Goode. Mr Goode is a​

    Member of the Australasian Institute of Mining and Metallurgy with over 20 years’ experience in the​

    Australian Mining Industry and has sufficient experience relevant to the style of mineralisation and the​

    type of deposit being reported on to qualify as a Competent Person as defined in the 1999 Edition of​

    the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Goode is an​

    independent geological contractor and consents to the inclusion of the information in this report.​


    Catch you again tomorrow .​

    Best ​

    Q​
 
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