Sabre Resources has completed the sale of its Ninghan gold project tenements in Western Australia’s southern Murchison Region to Capricorn Metals in an A$1.6m deal.
The completion of the transaction follows the terms set out in the asset sale and purchase agreement signed by the companies last month.
Sabre has received an additional A$1.5m in Capricorn shares, adding to the initial A$100,000 cash deposit.
Royalty deeds have been established that grant a 1% net smelter return (NSR) royalty on the sale of any minerals extracted from five of the six tenements associated with the Ninghan gold project.
Additionally, a higher NSR royalty rate of 1.5% has been set for the specific tenement E59/2402.
Sabre Resources CEO Jon Dugdale said: “Sabre is delighted to have completed the sale of the Ninghan Gold Project to Capricorn Metals and to have received A$1.5m of Capricorn shares in addition to the A$100,000 previously paid.
“A further payment of A$250,000 in cash or Capricorn shares on the earlier of a drilling programme commencing, or 9th May 2026, takes the initial transaction value to A$1.85m. This puts Sabre into a very good financial position to advance its core exploration projects and seek other opportunities.
“The agreement also provides upside exposure to Capricorn’s exploration success through contingent payments and royalties.”
Capricorn has committed to up to A$1.5m in contingent milestone payments to Sabre. These include A$750,000 upon declaring a JORC-compliant mineral resource estimate of more than 50,000oz of gold, and another A$750,000 upon deciding to begin commercial mining operations at the site.
The Ninghan gold project covers approximately 77km² and is situated 20km north-north-east of Capricorn’s Mt Gibson gold project.
Capricorn has identified seven exploration targets within the Ninghan gold project.
