Sable Initiates Summer Activities in San Juan Projects in Argentina and Announces Stock Option Grant
VANCOUVER, BC, Oct. 14, 2021 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to report that it has initiated exploration activities at all of its projects in San Juan, Argentina.
At the El Fierro Project, the Company plans to undertake a second phase of drilling and will continue district exploration work in the El Fierro large and prospective land package. The camp is now fully functional and the geology team has initiated mapping and prospecting activities. Quantec Argentina has already acquired around 30% of a 900 line kilometre Ground Magnetics survey to expand the 264 line kilometres acquired last season. The construction of roads and drill pads is quickly advancing and drilling is expected to start in few days. Sable has engaged two rigs from Foraco Argentina for this drill campaign.
At the Don Julio Project, the Company is finalizing drill preparations to initiate drilling on bulk-tonnage porphyry – skarn targets. Installation of the Don Julio camp has been completed and road maintenance is scheduled to begin immediately. Sable's geologists will initiate mapping next week and by the end of October Quantec Argentina will begin a 180 line kilometre Ground Magnetics survey that will complement the 400 line kilometre UAV Magnetics survey completed last season. Sable has signed a contract with EcoMinera drilling for the drilling of Don Julio Project scheduled to begin in January 2022. Exploration work at Don Julio is fully funded by Sable's joint venture partner South32.
At the Los Pumas Project, ongoing field work following up on the large number of high-grade sub outcrops discovered during the last field season will define drill targets. A small camp has been built at Los Pumas Project and mapping and trenching has already begun. Trenching will be conducted in all the Au-Ag-Cu anomalous zones discovered in the project over an area of 6 kilometres by 4 kilometres. Exploration work at Los Pumas is fully funded by South 32, Sable's joint venture partner.
At the La Poncha Project, the Company's activities this field season are focused on finalizing drill preparation and initiation of drilling the two known Gold-Copper porphyry bulk-tonnage targets. Road maintenance is underway between the village of Colanguil and La Poncha Project to allow for the construction of the camp which is scheduled for completion by the end of October. Drilling at La Poncha is expected to start by the end of November. ConoSur Drilling has been engaged for the drilling of La Poncha Project this season.
Dr. Ruben Padilla, Chief Executive Officer of Sable commented, "We're extremely excited to initiate work at our four projects in San Juan. This will be a very active summer season for Sable with an aggressive campaign of 25,000 metres of drilling distributed in three projects."
The Company also reports that it has granted an aggregate of 4,250,000 options to purchase common shares of the Company to directors, officers, employees and consultants in accordance with the Company's stock option plan. The options granted are exercisable at $0.25 for a period of five years.
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 (151,850 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.
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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