VANCOUVER, BC, May 4, 2022
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV:SAE)
(OTCQB:SBLRF) is pleased to provide an update on its ongoing
exploration program in San Juan, Argentina. The Company is currently
undertaking 18,000 to 20,000 metres of drilling on seven targets at
four of its projects - Don Julio, El Fierro, La Poncha and Los
Pumas. The Company's current drill program has proven the
extension of the mineralization of the La Verde Vein at El Fierro
(see January 11 and February 15,
2022 press releases) and has intercepted porphyry style
mineralization in five porphyry targets undergoing their first
drill test. As of the date of this press release, no
analytical results are available for reporting from the drill holes
drilled at the porphyry targets.
"Our 2021 / 2022 exploration season has built on our early
exploration activities that identified high quality drilling
targets. Being well financed and our agreement with South32
has allowed us to advance quickly and aggressively on these highly
prospective properties. I am very proud of our team that
has advanced close to 20,000 metres of drilling on seven targets,"
stated Ruben Padilla, President and
CEO of Sable, who added, "With more than 110 people working on this
exploration program, we are pleased to report that we have had zero
lost time incidents and have strengthened our relationships with
local communities. We are looking forward to receiving all
the analytical results to initiate a detailed relogging of core and
the interpretation of all new data to provide further updates and
plan our next drill season."
Projects Highlights
Don Julio Project: Sable commenced its 5,000m drilling campaign in January 2022 focused on three Miocene porphyry
targets (Poposa, La Gringa and Punta
Cana). To date, 3,069m has
been drilled in eight holes and 1,693 core samples have been
submitted for assay. Holes 1 to 3 were drilled at the Poposa
target and all holes show strong indications of transition between
advanced argillic alteration to porphyry environment. Holes 4
and 5 targeted a diatreme system in the northern part of
Punta Cana, while holes 6 and 8
were drilled at the Punta Cana
porphyry encountering different phases of diorite with significant
mineralization including Maricunga, A type, and B type veinlets, as
well as disseminated pyrite and chalcopyrite. Hole 7 is being
drilled at the Gringa porphyry target and has shown a clear
transition from lithocap to porphyry environment. Currently two
rigs are working at the Don Julio Project and the drilling campaign
is expected to finish around mid May. All work at the
Don Julio Project is fully funded by South32 under the terms of the
Earn-In agreement signed in early 2021 (see press release dated
March 11, 2021).
Figure 1. Examples of porphyry mineralization intercepted in
holes 6 and 8 at the Punta Cana
porphyry target.
Figure 2. Location of drill holes from current campaign at the
Don Julio Project at La Gringa, Poposa, and Punta Cana targets. The red polygon outlines
the extension of the Miocene lithocap.
El Fierro Project: Sable started drilling at the El
Fierro Project in October 2021
focusing on the different zones of sub-epithermal veins including
Fierro Bajo, La Verde and Lagunitas.
In early 2022, the Company started drilling the Pyros
Cu-Au-Mo porphyry target which is a new Greenfields discovery
within El Fierro Project. To date, Sable has drilled 10,923m in 63 holes, collecting 4,427 core
samples having received so far results from 1,559 of those samples.
High-grade intercepts from La Verde zone were released on
January 11th and
February 15th with more
results to be released soon. In addition to the drilling, the
Company completed 400km of Ground Magnetics; 26km of Induced
Polarization, collected 317 rock samples and 2,500 soil samples.
Mapping and prospecting has also led to the discovery of the
Antena Au-Cu target which will be also drill tested at the end of
the current drilling campaign.
Figure 3. Distribution of mineralized zones at El Fierro Project
highlighting Ag rich vein zones as well as two magmatic centres
corresponding to the Cu-Au-Mo Pyros porphyry target and the Au-Cu
Antena target.
Poncha North Project: Drilling started in March at
the Miocene porphyry centre located in the Poncha North zone, part
of the La Poncha Project. The location of drill holes was based on
extensive trenching work, mapping and geophysics. 481 rock samples
were collected along the trenches, significantly extending the size
of the known porphyry mineralization. So far, the Company has
completed 1,425m in four holes with
550 core samples having been sent to the laboratory with all
results pending. Two more holes will be completed before the
end of the season.
Figure 4. Geological mapping and Au values from trenches at
Poncha North. The different colours indicate plan view limits of
various intra-mineral porphyritic diorite intrusive phases.
Figure 5. Examples of early porphyry veinlets cutting diorites
with potassic alteration intercepted in holes 1, 2, and 3 from La
Poncha North.
Los Pumas: During this exploration season in
Argentina, from September to
November, Sable conducted a short exploration program at Los Pumas
including construction of a temporary camp, 25km of road access,
and 1.5km of trenching on different zones of the project.
Trenches were located on zones of previously observed
Au-Cu-Ag intrusion-related mineralization; 294 rock samples were
collected this season and all results have been received.
Results show strong anomalies of the three mentioned
elements; obtained values are being analyzed before being
released.
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.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the
discovery of Tier-One new precious metal and copper 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.
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.