Sable Presents Exploration Plan for Upcoming Season, Including 25,000m of Drilling
VANCOUVER, BC, Sept. 20, 2021 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to present the Company's planned exploration activities covering multiple projects located in the well-endowed Miocene Mineral Belt of San Juan in Argentina (see figure 1 on page 3) and along the Central Mexico Silver Mineral Belt. The planned exploration program will be undertaken commencing September 2021 through May 2022, covering the South American spring and summer field seasons. Sable is planning on conducting a total of 25,000 metres of drilling on three projects. The Company is well-funded with approximately C$28.5 million in cash and investments as of June 30, 2021. The planned exploration activities will cost an estimated C$15.9 million, leaving Sable in a strong cash position at the end of May 2022. South32 will fully fund all work within the current joint venture area that is covered by the Earn-in Agreement signed between the Company and South32 earlier this year (see press release dated January 28, 2021).
"Sable's systematic exploration approach is moving into a very active stage of drilling while keeping its target generation capacity intact and maintaining a strong financial position," stated Dr. Ruben Padilla, Sable's President and CEO who added, "When the rigs are turning in three different high-quality projects a big discovery can happen. The next 10 months could be game changer for Sable."
El Fierro Project, San Juan Argentina
Sable has identified a large vein field over an 8.5 by 6.5 kilometre area with 14.5 linear kilometres of epithermal veins in four mineralized centers including: Fierro Bajo, Fierro Alto, La Verde, and Lagunitas. Reconnaissance sampling was highlighted by multiple silver equivalent samples of over 1,000 g/t. Drilling commenced in February 2021 returning multiple high-grade intercepts including 4,381 g/t AgEq over 0.5m within 546.78 g/t AgEq over 9.95 m from one of the first drill holes ever drilled at the project.
Work planned for the 2021-2022 field season will consist of a second round of drilling of up to 15,000 metres to define the size potential of the deposit and prioritize veins for resource drilling. District reconnaissance work will continue in parallel with the drilling including geophysics, trenching, mapping, and sampling.
La Poncha Project, San Juan Argentina
La Poncha represents a cluster of porphyry - epithermal centers along the Miocene mineral belt that hosts the Filo del Sol deposit, that recently reported an intercept of 858m with 1.8% CuEq (See Filo Mining press release dated May 13, 2021). During the upcoming field season, Sable plans to conduct approximately 5,000 metres of drilling targeting two recently identified gold-copper porphyry bulk-tonnage targets. Additional target generation work will also be completed in conjunction with this program.
Sable – South32 JV, San Juan Argentina
Further to the Earn-in Agreement with South32 to jointly explore the 69,350 hectare land package including the Don Julio cluster area, the Los Pumas Project and numerous early-stage regional targets, significant exploration work that is 100% funded by South32 will be undertaken in the 2021–2022 field season as outlined below.
Don Julio Cluster
The Don Julio project area contains several targets including Cu-Au porphyry, Au-Ag epithermal, and polymetallic skarn targets generated from detailed mapping and geochemistry work over a period of two and a half years. Earlier this year, Sable completed a 400 km UAV Magnetic survey, detailed structural mapping of the Fermin skarn target, reinterpretation of historical geophysics at the Heaven Hill area, and re-evaluation of other historical data.
Field work planned for the upcoming field season includes geophysics, mapping, sampling, and construction of additional access roads, all in preparation for an approximate 5,000 metre drill program expected to start in January 2022.
Los Pumas Project
In January 2021, Sable released geochemical results from the Los Pumas Project located 21 km south of the Don Julio project. Los Pumas was discovered following up on a large ASTER anomaly where alteration and mineralization was found returning values of up to 103 g/t Au; 2,650 g/t Ag; and 2.9% Cu on multiple clusters over an area of 6 by 4 kilometres.
Field work planned for the upcoming season will include construction of an access road, trenching, and additional mapping.
Regional Targets
Sable and South32 are engaged on the first pass regional exploration of its large land package outside the Don Julio cluster area. This regional exploration work has identified the Los Pumas (described above) and multiple other targets. Initial reconnaissance work was conducted at Los Patos and San Francisco regional targets in the first quarter 2021 and will continue during the upcoming field season.
Mexico Regional Target Generation
The Company will continue advancing exploration activities with the follow-up of stream sediment anomalies within its ground to generate new targets. Sable has 26,373 hectares in mineral titles and 1.16 million hectares in mineral applications along the world's richest silver mineral belt located in central Mexico.
Sable is providing an opportunity for shareholders and other interested parties to participate in a Webinar to be held at 4 pm ET on Thursday, September 23, 2021. To register, please click on the following link - https://us06web.zoom.us/webinar/register/WN_AhQ5ktn7TEKUs9ifOba-NA.
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, 26,373ha 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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