Sable Initiates Drilling of the Pyros Porphyry Target within the El Fierro Project
VANCOUVER, BC, March 2, 2022 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce that it has commenced drilling at its Pyros porphyry target, part of the Company's flagship El Fierro Project. Sable's exploration work has identified the footprint of a large Cu-Mo-Au porphyry system interpreted to be the centre of the polymetallic veins that the Company has explored at El Fierro during the last two seasons. The Pyros porphyry target displays numerous critical characteristics that the Company believes could indicate the presence of a significant mineralized porphyry complex.
Pyros is a new, unknown system identified by Sable's exploration team at El Fierro and it has never been sampled or drilled previously by any company. Pyros is now the nearest porphyry prospect south of the Filo del Sol – Jose Maria cluster.
Key Characteristics of Pyros
- Significant Size: Pyros is an outcropping 4 x 2 km porphyry system, characterized by a large zone of quartz-sericite alteration overprinting early porphyry-style quartz veinlets.
- Age: Sable's geochronological data confirms that the Pyros porphyry system is Miocene (20Ma), which corresponds with the mineralization age of the prolific Maricunga Cu-Au mineral belt (≈14 to 24 Ma), host of multi-million tonnes Au-Cu deposits including Cerro Casale, Filo del Sol, Jose Maria, Marte-Lobo, and Caspiche.
- Right Erosion Level: The observed alteration at surface is characteristic of upper levels of porphyry centers, indicating that the potential ore zone associated with potassic alteration is not eroded away but still close to surface. The system outcrops mostly on sericitic alteration with a small erosional window of potassic altered diorite intrusions.
- Fertility: The porphyry center at Pyros is interpreted to be the source of the magmatic-hydrothermal fluids of the polymetallic veins of El Fierro. the ability to produce more than 14km of Ag-Au-Cu-Pb-Zn high-grade veins can indicate a fertile and metal rich system.
- Leached Cap: A leached cap forms above a mineralized porphyry deposit when all the sulfides contained above the water table are oxidized. Within the leached cap copper is completely leached, vertically transported, and redeposited at depth a the bottom of the oxidized zone forming a supergene enrichment copper blanket. Some of the important pophryry systems of the world, like Escondida in Chile, contain large - high grade copper zones formed below leached caps.
Ruben Padilla, President and CEO of Sable commented, "The identification of the Pyros porphyry at the El Fierro Project is an important finding that now defines the El Fierro Project as a preserved large porphyry-epithermal mineral district of at least 8 x 8 km. Pyros shows all the characteristics of the known large porphyry deposits in the region."
Sable has planned two drilling fences comprising a total of 3,900m to intercept the entire width of the system with the goal of defining the number of porphyry phases and their respective Cu-Au-Mo grades, as well as test the supergene enrichment target.
Ruben Padilla, President & CEO of Sable Resources will be participating in a webinar hosted by Adelaide Capital on March 3rd at 2pm ET. If you would like to attend the event you can register here: https://us02web.zoom.us/webinar/register/WN_ZccenpPYQcKkUcT-D44JJQ. Please feel free to send questions in advance to [email protected] or you can ask them during the live event. A replay will be made immediately afterwards on the Adelaide Capital YouTube Channel here: https://www.youtube.com/channel/UC7Jpt_DWjF1qSCzfKlpLMWw.
In other news, effective March 1st, the Company has engaged Adelaide Capital Markets Inc. (" Adelaide "), an Ontario-based corporation, to provide digital marketing services to the Company. The term of this agreement shall be for one year. The Company has agreed to pay Adelaide a total of $48,000 for the term of the agreement and has also granted 75,000 stock options (with an exercise price of $0.165 and expiry date one year from date of grant, with 25% vesting each quarter, commencing June 1, 2022.
Adelaide was founded by Deborah Honig and is an arm's length company based in Toronto, Ontario. Adelaide is a full-service investor relations firm. As of the date hereof, Adelaide does not have any interest, directly or indirectly, in the Company or its securities, or any right to acquire such an interest.
ABOUT EL FIERRO PROJECT
The El Fierro Project is located 250 km northwest of San Juan, Argentina and 120 km north of Sable's Don Julio Project in one of the best-known historical mining districts in the San Juan province. The El Fierro Project consists of four main known mineralized areas - Fierro Alto, Fierro Bajo, La Verde and Lagunitas over an area of 8.6 km x 6.2 km. Three of the four areas host a number of old artisanal mining workings where silver, lead and zinc were intermittently mined since the late 1800's until the 1960s. Prior to Sable's 2021 drill program, the Property had never been drilled. Sable currently controls 58,510 hectares covering all the historically mineralized areas and additional highly prospective ground over a large magnetic anomaly.
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.
Related link: sableresources.com
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.
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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