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 deborah@adcap.ca
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.