Sable Defines Clear Drill Target at Scorpius

Company Also Announces Grant Of Stock Options

TORONTO, Feb. 26, 2019 /CNW/ - Sable Resources (TSX.V: SAE) (the "Company" or "Sable") is pleased to announce the completion of Phase II, drill target definition work at the Scorpius Project located in the Miocene Gold Belt of Peru.

The exploration included detailed mapping of a 4 km² area, collection of 49 rock samples that add to the 524 previous rock samples results provided by the tenement holder, and 4 kilometers of Induced Polarization (IP) survey distributed across 4 lines.

Figure 1 Location of released Sable samples with historic sampling (CNW Group/Sable Resources Ltd.)

Figure 2 Location of IP lines with sampling distribution and geology (CNW Group/Sable Resources Ltd.)

Figure 3 IP showing high resistivity horizon in red (CNW Group/Sable Resources Ltd.)

The objective of the rock sampling was to evaluate the surface gold geochemical values associated to the different lithological units and alteration mineral assemblages. Gold values from the 49 rock samples grade up to 4.91 g/t with 19 of the sample in the 0.1 to 1g/t range. Best gold values are associated with silica-alunite alteration, silicification, and vuggy silica. Historic samples provided by the tenement holder include gold values up to 7.75 g/t, including 90 samples grading between 0.1 to 1 g/t, and 23 samples grading more than 1 g/t.

Sample ID	Gold Value (ppm)	Rock Description	Sample Type
225	4.91	Silica Alteration in Andesite	1.1m Channel
237	0.849	Silica Alteration	1.8m Selective Channel
203	0.599	Silica Alteration in Andesite	1.2m Channel
249	0.574	Silica Alteration	0.5m Selective Channel
204	0.37	Silica Alteration in Andesite	1m Selective Channel
238	0.319	Silica Alteration	1.2m Selective Channel
218	0.296	Silica Alteration in Andesite	0.7m Selective Channel
226	0.291	Silica Alteration in Andesite	0.4m Selective Channel
215	0.289	Silica Alteration in Andesite	1m Selective Channel
228	0.287	Silica Alteration in Andesite	0.4m Selective Channel
201	0.283	Silica - Alunite Alteration in Andesite	1.1m Channel
212	0.231	Strong Silica Alteration in Andesite	1m Selective Channel
210	0.213	Silica - Alunite Alteration	2m Channel
248	0.21	Silica Alteration	1m Selective Channel
232	0.206	Silica - Alunite Alteration in Andesite	1.7m Channel
247	0.161	Silica Alteration	2m Selective Channel
211	0.146	Silica Alteration in Andesite	1.6m Channel
206	0.143	Silica - Alunite Alteration in Dacite	2m Channel
216	0.112	Silica Alteration in Andesite	0.5m Selective Channel
222	0.101	Silica Alteration in Andesite	0.8m Channel

Table 1 Sable rock sample assay results from Scorpius Project  

The IP survey covered a total of 4 km distributed in three lines oriented perpendicular to the alteration corridor and one parallel. All lines identified a robust high-resistivity anomaly, at least 1000 m long on the E-W direction, 500 to 600 m wide, and 100 to 130 m thick, with the top of the resistivity high occurring from between the current surface and 100 m depth.

The robust gold anomaly accompanying the typical high-sulphidation mineral assemblage within and at the margins of domes with low levels of erosion, all coincident with high resistivity anomalies, clearly justify to move forward with the first drill test at Scorpius, testing the potential to host an open-pitable, heap-leaching deposit typical of the Miocene Gold Belt of Peru.

In parallel with the Phase 2 work the company initiated negotiations with local communities, and completed all necessary field and administrative work required to request the environmental permit to conduct drilling. Sable expects to have all permits ready on time to commence drilling during the Peruvian Andes dry season early in Q3, 2019.

ABOUT THE SCORPIUS PROJECT
Acquired as part of Sables Upper Level Epithermal Strategy, The Scorpius High Sulphidation Project is located in the prolific Miocene Gold Belt of Central Peru. Historic values at the Scorpius Project range between 0.1 and 7.7g/t Au and define a 1km by 0.5km anomalous area coincident with volcanic domes, silica ledges, quartz-alunite alteration and high-sulphidation pathfinders similar to Sables' Don Julio project located in San Juan Province, Argentina. Sable has the rights to acquire 100% of the Scorpius Project for total payments of $1 million dollars over three years. 

SABLE RESOURCES LTD. ANNOUNCES GRANT OF OPTIONS
Sable Resources Ltd has granted a total of 450,000 incentive stock options to an officer and director of the Company pursuant to the Company's Stock Option Plan. Such options are exercisable at a price of $0.25 for a period of five years. The grant of options is subject to the approval and requirements of the TSX Venture Exchange.

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. Sables' main focus is developing their large portfolio of new greenfields projects to resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San Juan Regional Program (35,000ha) incorporating the Don Julio Project in San Juan Province, Argentina, the Mexico Regional Program (1.5Mha), incorporating the Margarita, Vinata and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,600ha) incorporating the drill ready Tulox Project.

QUALIFIED PERSON
Luis Arteaga M.Sc. P.Geo. Exploration Manager for Sable Resources and the Company's Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release.

We seek safe harbor

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Sable Resources Ltd.

Tom Obradovich, President & CEO, [email protected], Tel [phone] Or visit sableresources.com

Related Links

www.sableresources.com