Sabre closes $3.5m capital raising oversubscribed

West Perth-based Sabre Resources Ltd has closed a $3.5 million capital raising oversubscribed, the company has announced.

The full text of a company announcement is pasted below

We are pleased to advise that the abovementioned capital raising has closed oversubscribed.

Oversubscription monies have been returned.

The acquisition of the Ongava Base Metal project in Namibia is now unconditional and Sabre has begun work on the project.

The exploration programme consists of resource evaluation, data validation, on ground reconnaissance and drilling of defined targets.

The Ongava Base Metal project contains three existing Lead-Zinc deposits representing in excess of 16 million tonnes grading more than 4.5% combined Lead- Zinc, as well as 22 Lead-Zinc-Copper-Vanadium prospects.

Sabre's exploration team under the direction of the Company's Exploration Manager, Dr Matthew Painter, look forward to advancing this highly prospective project.