VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Sable Resources Ltd.
("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to
announce the first batch of analytical results from the Company's
Phase II diamond drilling campaign at El Fierro Project. El
Fierro is a historic artisanal silver-rich mining district located
250 km northwest of San Juan city. Sable completed the first
drilling campaign ever conducted at El Fierro in May 2021 with a total of 3,278m in 25 drill holes, reporting multiple
high-grade intercepts and the identification of >14.5 kilometres
of veins. So far, Sable has drill tested portions of the
Fierro Bajo, Fierro Alto, La Verde
and Lagunitas vein systems.
The current Phase II drill program commenced in late
October 2021 and by mid-December had
completed 3,630 metres in 31 drill holes. The campaign
focuses on reconnaissance drilling to determine the full strike
extension of the La Verde and Lagunitas vein systems and to confirm
vertical continuity down to at least 250 metres. In addition,
the Company is conducting some extra drilling on Fierro Bajo, and
first pass drilling over other known veins.
Sable has received results from the first 15 drill holes of the
Phase II drill program, while 16 additional holes (322 samples) are
currently being analyzed by ALS Minerals. Eight of the holes
received are located in the central portion of La Verde vein (see
Figure 1) and have all returned significant results (see Table
1). The seven additional holes tested reconnaissance targets
in the Fierro Bajo area but did not return significant results.
Ruben Padilla, President and CEO of Sable
stated, "We are pleased with the latest drill results reporting
significant silver, gold, and base metals. We're having
a good percentage of vein intercepts at La Verde, which, together
with Lagunitas are two of the largest known vein systems at El
Fierro Project. Our ongoing Phase II drill program will be
generating a constant flow of new analytical results for the next
six months as we define the full extent of these large vein
systems."
Highlighted intercepts include:
Hole LV-DH-21-43
- 324.14 g/t AgEq (68.3 g/t Ag; 1.95 g/t Au; 2.6% Pb; 0.21% Zn)
over 0.60m from 21.40 to 22.00m
- 269.72 g/t AgEq (66.61 g/t Ag; 1.26 g/t Au; 0.33% Cu; 0.97% Pb;
0.65% Zn) over 5.60m from 26.60 to
32.20m
Including
- 753.85 g/t AgEq (42.35 g/t Ag; 5.53 g/t Au; 0.48% Cu; 2.51% Pb;
2.73% Zn) over 1.0m from 27.10 to
28.10m
- 981.08 g/t AgEq (63 g/t Ag; 7.84 g/t Au; 0.64% Cu; 3.37% Pb;
1.97% Zn) over 0.50m from 27.10 to
27.60m
- 341.97 g/t AgEq (171 g/t Ag; 1.09 g/t Au; 0.39% Cu; 0.66% Pb;
0.31% Zn) over 0.50m from 31.10 to
31.60m
Hole LV-DH-21-36
- 353.98 g/t AgEq (167 g/t Ag; 0.72 g/t Au; 0.61% Cu; 1.23% Pb;
0.39% Zn) over 1.25m from 38.40 to
39.65m
Hole LV-DH-21-43 is located 110m
north of LV-DH-21-12 drilled during last campaign and which
intercepted several mineralized zones on the margins of mafic
dykes. Drill hole 43 was drilled from north to south
targeting a mineralized zone returning 1,011.3 g/t AgEq over
2.2m discovered in trench TLV-009
(see Sable news release dated May 17,
2021). Drill hole LV-DH-21-36 is located 70m east of hole LV-DH-21-08 drilled during the
first campaign which returned 546.78 g/t AgEq over 9.95m (see Sable news release dated May 3, 2021). Other highlighted intercepts
are presented in Table 1.
Table 1 –
Anomalous Intercepts from Reported Holes
|
Hole
|
From
|
To
|
Interval
|
AgEq
(g/t)
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
LV-DH-21-28
|
11.40
|
12.00
|
0.60
|
219.32
|
24.2
|
1.67
|
|
0.99
|
0.57
|
FB-DH-21-35
|
116.50
|
117.00
|
0.50
|
112.09
|
104
|
|
|
0.25
|
|
LV-DH-21-36
|
38.40
|
39.65
|
1.25
|
353.98
|
167.0
|
0.72
|
0.61
|
1.23
|
0.29
|
LV-DH-21-37
|
71.80
|
72.80
|
1.00
|
277.43
|
108.15
|
0.87
|
0.77
|
0.1
|
0.1
|
Including
|
71.80
|
72.30
|
0.50
|
355.22
|
191.0
|
1.46
|
0.32
|
|
|
LV-DH-21-38
|
40.75
|
41.25
|
0.50
|
228.31
|
59.0
|
0.28
|
0.11
|
3.71
|
0.29
|
LV-DH-21-40
|
17.50
|
18.00
|
0.50
|
200.49
|
46.8
|
0.58
|
0.14
|
2.39
|
0.55
|
LV-DH-21-42
|
137.45
|
137.95
|
0.50
|
372.44
|
161.0
|
1.18
|
0.46
|
1.49
|
0.26
|
LV-DH-21-43
|
21.40
|
22.00
|
0.60
|
324.14
|
68.3
|
1.95
|
|
2.6
|
0.21
|
LV-DH-21-43
|
26.60
|
32.20
|
5.60
|
269.72
|
66.61
|
1.26
|
0.33
|
0.97
|
0.65
|
Including
|
27.10
|
28.10
|
1.00
|
753.85
|
42.35
|
5.53
|
0.48
|
2.51
|
2.73
|
Including
|
27.10
|
27.60
|
0.50
|
981.08
|
63.0
|
7.84
|
0.64
|
3.37
|
1.97
|
And
|
31.10
|
31.60
|
0.50
|
341.97
|
171
|
1.09
|
0.39
|
0.66
|
0.31
|
Mineralization intercepted in reported drill holes represents
between 60% and 90% true width. Maps and tables associated with
this press release will be available on Sable's website
(www.sableresources.com). Silver equivalent (AgEq) is
calculated based on 100% recovery and prices of USD 18 per oz for silver; USD 1,500 per oz for gold; USD 0.85 per pound for lead; USD 1.1 per pound for zinc; and USD 3.0 per pound for copper. Cu, Pb, Zn values
lower than 0.1%, and Au values lower than 0.1 g/t have not been
considered within the AgEq calculation.
Table 2. Location
of Reported Holes
|
Hole
number
|
North
|
East
|
Elevation
|
FB-DH-21-26
|
6743035
|
2459259
|
3763
|
FB-DH-21-27
|
6742850
|
2459239
|
3795
|
FB-DH-21-29
|
6742803
|
2459556
|
3779
|
FB-DH-21-35
|
6742852
|
2459442
|
3772
|
LV-DH-21-28
|
6745270
|
2452639
|
4589
|
LV-DH-21-31
|
6745261
|
2452692
|
4595
|
LV-DH-21-33
|
6745160
|
2452659
|
4569
|
LV-DH-21-36
|
6745324
|
2453289
|
4586
|
LV-DH-21-37
|
6745296
|
2453291
|
4597
|
LV-DH-21-38
|
6745324
|
2453175
|
4616
|
LV-DH-21-39
|
6745290
|
2453176
|
4626
|
LV-DH-21-40
|
6745321
|
2453073
|
4635
|
LV-DH-21-41
|
6745329
|
2452949
|
4654
|
LV-DH-21-42
|
6745246
|
2453229
|
4623
|
LV-DH-21-43
|
6745407
|
2453386
|
4558
|
Sable is providing an opportunity for shareholders and other
interested parties to participate in a Webinar to be held at
4 pm ET on January 13, 2022. To register, please click on
the following link
–https://us06web.zoom.us/webinar/register/WN_rjgdP8wmTJKfLU7vnm3myA.
After registering, you will receive a confirmation email containing
information about joining the webinar.
In other news, the Company has entered into a market making
services agreement with Independent Trading Group, Inc. ("ITG")
pursuant to which ITG will provide market-making services in
compliance with the policies and guidelines of the TSX Venture
Exchange ("TSXV") and other applicable legislation (the "ITG
Agreement"). ITG will trade the common shares on the Exchange
with the objective of maintaining a reasonable market and improving
the liquidity and stability of the common shares.
The engagement is effective February 1, 2022 and has
an initial term of three months. Thereafter, the engagement
will automatically renew for successive one-month terms until
terminated by either party upon 30 days prior written notice. Under
the terms of the ITG Agreement, ITG will
receive $5,000 per month, plus applicable taxes, payable
on the first business day of each month. There are no
performance factors contained in the ITG Agreement, and ITG will
not receive common shares or options as compensation. To the
knowledge of the Company, neither ITG nor its principals own any
securities in the capital of Sable.
ITG is an independent, privately held broker-dealer based
in Toronto, Ontario, that
provides a wide range of financial and investment services, and is
registered with the Canadian Securities Exchange, NEO, Toronto
Stock Exchange and the TSXV along with the Investment Industry
Regulatory Organization of Canada (IIROC).
The ITG Agreement is subject to the approval of the TSXV.
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.
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.