Shares in Sabre Resources have spiked 15% after the company announced there was strong potential for further discovery at its copper-lead-zinc prospect in Namibia.
Following the announcement, shares in the company shot up 6c, or 15.6%, to 44.5c.
In the statement, Linc said the potential to discover new zones of mineralisation and extensions to mineralisation at or around the Kaskara prospect was high.
As a result, Sabre said it intended exploring in detail the areas covered by expert consultant Douglas Haynes’s extensive copper target and the large 2,000 by 3,000 metre area of strong copper, lead and zinc anomalism in soils.
Kaskara is located at the heart of the Ongava Poly-Metallic Project in northern Namibia.
The project occupies the centre of the highly prospective Otavi Mountain Land - a historic world-renowned mining region and home to the world-class Tsumeb copper-lead-zinc-silver mine (now closed).
Sabre has also kicked off geophysical programmes at the Kaskara prospect and the Border deposit, with the data to be collected over the coming weeks.
Reconnaissance mapping and collection of further soil geochemistry data is continuing.
Refinement of the geology of Kaskara is ongoing, and the company is extending investigations outwards to cover the above areas.
Sabre exploration manager Matthew Painter said the company was very pleased with the potential uncovered at Kaskara so far.
“Kaskara is already shaping up to be a major discovery for Sabre, with an extensive amount of surface mineralisation and outcropping gossans," Mr Painter said.
"Our further work in the area, coupled with expert targeting, is showing the potential for further discovery to be very high."