VANCOUVER, BC, Feb. 9, 2022 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an update on its ongoing fully financed C$16 million exploration program designed to drill test six high quality targets in San Juan, Argentina. Exploration targets in this well endowed southern region of the Andes are represented by multi million ton copper-gold porphyry centres and surrounding halos of gold-silver epithermal deposits similar to Filo del Sol, Veladero, and Pascua-Lama deposits.
Figure 1. Location of the Don Julio, La Poncha and El Fierro prospects with respect to other porphyry copper deposits and prospects in western Argentina and contiguous parts of Chile. (CNW Group/Sable Resources Ltd.)
Figure 2. Distribution veins at El Fierro showing silver values and location of El Fierrazo sericitic zone over regional magnetic data. (CNW Group/Sable Resources Ltd.)
Figure 3. Schematic section of Poncha Norte diatreme and porphyry centre. (CNW Group/Sable Resources Ltd.)
Figure 4. Map of Don Julio copper-gold anomalous lithocap and its zinc halo, with locations of the Poposa, La Gringa-Amarilla and Punta Cana porphyry copper prospects. (CNW Group/Sable Resources Ltd.)
"Sable continues operating in a systematic and disciplined way, putting the largest investment on our advanced El Fierro project, and advancing initial drilling in five targets with clear potential for Tier-One discoveries," stated Dr. Ruben Padilla, Sable's President and CEO, who added, "Despite recent operational delays due to extreme weather and the January Omicron outbreak in Argentina we can expect a flow of news releases as we receive drill and surface samples."
Project Highlights
El Fierro: Sable's most advanced project with 14.5 linear kilometres of high grade silver-gold-base metals epithermal veins. A total of 6,406 m of core drilling has been completed in 56 shallow drill holes, and the ongoing second round of drilling is planned to complete between 10,000 and 15,000 metres with the objective of defining the size of the deposit and prioritize the veins with the highest potential for the next round of resource definition drilling. Sable is financing all work at El Fierro.
El Fierrazo: A recent discovery by Sable located on the southern part of El Fierro veins, likely representing the source of magmatic-hydrothermal fluids of El Fierro porphyry-epithermal district. El Fierrazo is an extensive porphyry system represented by a 4 x 2 km sericitic zone overprinting an inner-core of early porphyry type veinlets. Sable is planning a fence drilling across the inferred causative porphyry stock to define porphyry phases and their respective copper, gold, and molybdenum grades.
La Poncha North: An outcropping >600 m long x 300 wide mineralized - composite 18 million years old gold-copper porphyry centre intruding an inter-mineral magmatic-hydrothermal diatreme. The Company is financing all work at Poncha North including a fence drilling across the central area of the porphyry stock to investigate gold–copper grades close to surface and to depths of at least 300 metres.
Don Julio Cluster: The current drill plan is focused on three gold-copper porphyry targets, named Poposa, Punta Cana and La Gringa. Punta Cana is a recent discovery of outcropping gold-copper porphyry mineralization. The exploration targets at Poposa and La Gringa are high grade – bulk tonnage gold-copper zones interpreted to be located at the roots of gold-copper bearing lithocap overprinting the top of their causative gold-copper porphyry centres. All work at Don Julio is fully funded by a wholly owned subsidiary of South32 Limited under the Earn-In agreement signed between South32 and Sable (see press release dated March 11, 2021).
Target Generation Work: The Company continues with target generation activity on its large land packages in Argentina and Mexico to generate value with expanding the exploration pipeline with high quality drill projects. Three months of target generation work was completed at Los Pumas project in San Juan, the results of this work will be released as soon as the Company receives final geochemical results.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the discovery of new precious metal projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable's main focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, La Poncha, and los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.
Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.
SAMPLE PREPARATION AND QA/QC
Sample preparation for projects in Argentina is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at its facility located in Mendoza, Argentina. Analyses are carried out at their laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).
Gold was analyzed by fire assay of a 30 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES); multi-elements were analyzed by aqua regia digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Over limit Ag, Cu, Pb, Zn OG46 analyses are conducted when samples exceed the upper detection limits; this method includes Aqua Regia digestion and ICP-AES finish. Method Ag-GRA22 which includes Fire Assay with gravimetric finish is applied when Ag exceeds 1500 g/t. Tritration method is applied when Pb and Zn exceed 20 and 30%, respectively (codes Pb-VOL70 and Zn-VOL50). Control samples (standards, blanks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.
QUALIFIED PERSON
Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news release.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sable's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Sable's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
While Sable considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.
The forward-looking information contained in this release is made as of the date hereof, and Sable is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE Sable Resources Ltd.
Ruben Padilla, President & CEO at [email protected] or +1 (520) 488-2520
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