Sable Announces Exploration Plan for Upcoming Field Season and Announces Investor Webinar
Sable Announces Exploration Plan for
Upcoming Field Season and Announces
Investor Webinar
VANCOUVER, BC
,
Oct. 12, 2022
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to announce the Company's planned exploration
activities covering multiple projects in the well-endowed Miocene porphyry belt of San Juan,
Argentina.
Summary
Exploration program will commence in
October 2022
and will continue through
May 2023
8,000 metres of drilling, expandable up to 10,000 metres, distributed between four porphyry
targets identified in the 2021/2022 exploration program
Well-funded with
C$17
million in cash as of September 30, 2022
Planned exploration activities are projected to cost
C$7.7 million
, of which
C$4.7 million
has
been committed by South32 as part of the continuing Don Julio Project Earn-in Agreement (see
January 28, 2021
press release)
Dr.
Ruben Padilla
, President and CEO of Sable commented, "We are continuing our
systematic exploration approach, focusing on large Cu-Au-Mo porphyry systems in the well-
endowed region of the Andes. The exploration program is designed to vector into the key
signatures for the large porphryries identified by Sable in our recent exploration program with results
announced on Don Julio in September and included for El Fierro and La Poncha in this press
release. Sable is fortunate to have a pipeline of multiple targets and a large land package and the
ability to drill at least four targets per year whilst maintaining a strong financial position."
Don Julio Project, San Juan Argentina
The Don Julio project comprises 69,350 hectares including the Don Julio Cluster that contains
several Cu-Au and Cu-Mo-Au porphyries, Au-Ag epithermal, and polymetallic skarn targets. The
mineralization identified at the Don Julio Cluster is part of the Miocene Andean mineral belt that hosts
world class Cu-Mo-Au porphyry deposits south of Don Julio and Au-Ag high sulfidation deposits to
the north. Phase 2 drilling will start on the first week of November at La Gringa target moving later
to the
Punta Cana
target. Mapping and target definition work will be conducted at the Tocota Au-Cu
porphyry target to prepare it for drilling next season. At La Gringa Cu-Mo-Au porphyry target, the
results from the last season's drilling along with new geophysical data indicate potential to find the
concealed causative porphyry centre towards the west underneath Quaternary gravels. At the Punta
Cana Cu-Au porphyry target, additional drilling is planned to follow up on the encouraging results of
hole DJ-DH-22-08 that reported
403.0m
of 0.27 g/t AuEq (see
September 6, 2022
press release).
The Tocota target comprises an area of at least 1.2 by 0.6km where diorite intrusives with porphyry
style veinlets have returned values up to 0.3% Cu and 0.3 g/t Au. Exploration work at Tocota this
field season will focus on mapping, talus-rock-soil sampling, and possible ground geophysics to
define the drill target.
El Fierro, San Juan Argentina
El Fierro, a 58,510 hectare property is located 120 kilometres south of the Filo del Sol –
Jose Maria
porphyry deposits in similar age rocks. Sable's first round of drilling started in
February 2021
(
3,278
m
) and second round was completed in
May 2022
(
12,006 m
) for a total of
15,284 m
. In 2021,
drilling focused on vein targets (
9,700 m
), however with porphyry style mineralization recognized in
December 2021
,
5,584 m
of scout drilling was completed on the newly recognized Pyros porphyry
target. In only one and a half years of exploration at El Fierro, Sable has defined a 10 x 10 km
mineralization footprint composed by Cu-Au-Mo porphyry mineralization and an external halo of
polymetallic sub-epithermal veins; all the mineral system is associated to a large Miocene (20 Ma)
intrusive – caldera complex.
The Pyros target is represented by a 2,500 x
1,400 m
zone of sericitic alteration overprinting early
quartz veins, where soil geochemistry identified a core Mo-Cu-Au-Bi-Te soil anomaly surrounded by
a Mn-Zn-Pb halo. The first round of drilling completed last May only tested around 20% of the
anomalous alteration zone. Drilling results identified different porphyry phases with potassic and
sericitic alteration intruding Permian granites. The first campaign of drilling proved the Cu-Mo-Au
affinity of the porphyry system at Pyros reporting
119 m
@ 0.22 % CuEq, including
34.0m
@ 0.34%
CuEq (FZ-DH-22-68),
30.3m
@ 0,44% CuEq (FZ-DH-22-72),
38.0m
@ 0.27% CuEq (FZ-DH-22-
84), and
200m
@ 0.14% CuEq (FZ-DH-21-55). One hole was drilled on the margin of the Antenna
Hill target, represented by Au-Cu-Ag anomalies associated to breccias and ~20 Ma dioritic intrusions
hosted by Paleozoic basement along faults related to the eastern limit of the Miocene volcanic
caldera. The recognizing hole completed at Antenna Hill reported various Au-Cu-Ag anomalous
intercepts including
8.75 m
@ 1.20 g/t AuEq. Detailed highlighted values are presented in Table 1.
Figure 1. Highlighted drill intercepts at the Pyros porphyry target. (CNW Group/Sable Resources
Ltd.)
The upcoming field season work will be focused on follow up of extensive surface geochemical
anomalies and alteration zones coincident with magnetic and IP anomalies to select areas to be drill
tested at Pyros and Antenna Hill targets. A second round of drilling at Pyros and Antenna Hill will be
initiated in
January 2023
with district mapping - prospection work commencing in
October 2022
.
Poncha, San Juan Argentina
The 34,937 hectare Poncha property contains two Miocene porphyry targets and various alteration
zones that require first-pass exploration work. Last May, Sable completed
2,216 m
of drilling at the
Poncha North target represented by an outcropping Miocene Au-Cu porphyry centre, intruding a
larger inter-mineral diatreme. Drill results showed the gold affinity of the porphyry system reporting
263 m
@ 0.29 g/t AuEq (PON-DH-22-02), and
101 m
@ 0.32 g/t AuEq (PON-DH-22-01), as well as
many other significant intercepts disclosed in Table 1. Intermediate sulfidation mineralization with
anomalous Ag-Pb-Zn-Cu was intercepted in holes PON-DH-22-03 and PON-DH-22-06. During the
upcoming field season exploration work at Poncha will consist of local and regional mapping and
prospection to define additional drill targets.
Figure 2. Gold results (in bars) for the six holes drilled last season at the Poncha North target. (CNW
Group/Sable Resources Ltd.)
Webinar
Sable's President and CEO,
Ruben Padilla
, will be providing an exploration update discussing results
from the 2021/2022 exploration season and discussion on the upcoming exploration program. The
webinar, hosted by Adelaide Capital, is scheduled for
Thursday, October 13, 2022
at
4:15pm EST
.
Register at the following link -
https://us02web.zoom.us/webinar/register/WN_CkwoEltMSi-3aJDjO9b-1g
.
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 the 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.
Table 1 - Significant Intercepts for Reported Holes
Hole
From (m)
To (m)
Interval (m)
Ag (g/t)
Au (g/t)
Cu (%)
Mo (ppm)
Pb (%)
Zn (%)
CuEq (%)
AuEq (g/t)
AgEq (g/t)
El Fierro
FZ-DH-21-55
35.50
235.50
200.00
0.03
0.086
104
0.14
Including
35.50
120.50
85.00
0.03
0.12
125
0.18
FZ-DH-22-68
12.00
131.00
119.00
0.084
0.13
78
0.22
Including
12.00
46.00
34.00
0.14
0.18
143
0.34
FZ-DH-22-72
21.00
163.00
142.00
0.11
0.14
73
0.24
Including
21.00
51.30
30.3
0.18
0.26
121
0.44
FZ-DH-22-78
106.00
124.00
18.00
0.10
0.22
70
0.32
FZ-DH-22-78
140.00
151.00
11.00
0.084
0.14
97
0.23
FZ-DH-22-78
160.00
165.80
5.80
0.16
0.20
107
0.36
FZ-DH-22-78
238.00
250.00
12.00
0.11
76
0.14
FZ-DH-22-78
278.50
283.65
5.15
0.11
51
0.12
FZ-DH-22-78
287.00
297.45
8.45
0.12
0.12
FZ-DH-22-84
103.00
117.00
14.00
0.12
0.12
FZ-DH-22-84
127.00
131.00
4.00
0.083
0.20
95
0.23
FZ-DH-22-84
160.00
168.00
8.00
0.10
0.17
0.24
FZ-DH-22-84
277.00
307.00
30.00
0.12
77
0.15
FZ-DH-22-84
331.00
369.00
38.00
0.12
0.15
81
0.27
ANT-DH-22-89
60
62
2
28.5
0.343
0.998
1.50
2.05
ANT-DH-22-89
67.75
68.25
0.5
62.4
1.375
1.08
2.63
3.61
ANT-DH-22-89
60
68.75
8.75
18.24
0.21
0.56
0.88
1.20
ANT-DH-22-89
178.2
178.7
0.5
0.515
0.37
0.52
ANT-DH-22-89
205.3
205.75
0.45
20.9
0.249
0.518
0.88
1.21
ANT-DH-22-89
266.75
267.25
0.5
5.61
0.312
0.197
0.47
0.65
ANT-DH-22-89
315.6
316.3
0.7
4.52
0.134
0.15
0.29
0.39
ANT-DH-22-89
351.4
351.9
0.5
6.21
0.222
0.129
0.35
0.47
ANT-DH-22-89
382.5
383.1
0.6
6.3
0.132
0.312
0.46
0.64
ANT-DH-22-89
508.1
508.6
0.5
2.27
0.287
0.23
0.31
ANT-DH-22-89
523.4
524
0.6
1.24
0.235
0.18
0.25
ANT-DH-22-89
527
528.7
1.7
1.6
0.614
0.46
0.63
ANT-DH-22-89
531.75
533.8
2.05
1.62
0.31
0.24
0.33
ANT-DH-22-89
541.5
542.5
1
5.71
0.097
0.259
0.38
0.52
La Poncha
PON-DH-22-01
81.00
113.00
32.00
0.20
0.10
0.33
Including
81.00
89.00
8.00
0.22
0.13
0.39
And
101.00
110.20
9.20
0.28
0.12
0.44
PON-DH-22-01
123.00
224.00
101.00
0.19
0.096
0.32
Including
143.00
153.00
10.00
0.28
0.15
0.48
And
173.00
191.00
18.00
0.23
0.12
0.40
PON-DH-22-01
256.00
371.00
115.00
0.19
0.096
0.32
Including
256.00
297.00
41.00
0.24
0.12
0.41
PON-DH-22-01
375.00
424.55
49.55
0.18
0.083
0.30
PON-DH-22-02
21.00
284.00
263.00
0.18
0.082
0.29
Including
23.00
57.00
34.00
0.26
0.076
0.37
And
161.00
171.00
10.00
0.43
0.17
0.67
And
240.50
258.00
17.50
0.22
0.13
0.40
PON-DH-22-02
423.25
514.00
90.75
0.14
0.094
0.27
Including
423.25
432.40
9.15
0.27
0.15
0.47
And
448.00
460.00
12.00
0.22
0.12
0.39
And
490.00
514.00
24.00
0.12
0.088
0.24
PON-DH-22-03
3.00
294.90
291.90
0.14
0.048
0.14
Including
23.00
61.40
38.40
0.24
0.074
0.21
0.24
Including
33.00
44.00
11.00
0.43
0.081
0.12
0.36
0.43
Including
175.00
195.00
20.00
0.16
0.052
0.16
Including
231.60
283.40
51.80
0.16
0.068
0.16
PON-DH-22-04
32.00
45.10
13.10
0.24
PON-DH-22-06
22.00
49.00
27.00
2.0
0.16
0.16
0.26
PON-DH-22-06
66.20
129.00
62.80
0.17
65
0.20
PON-DH-22-06
135.55
136.20
0.65
287
0.19
0.76
12.00
3.78
936.5
PON-DH-22-06
188.00
207.00
19.00
0.18
0.18
Table 2 – Location of reported holes from Don Julio, El Fierro, La Poncha
Hole number
Azimuth
Dip
Depth
North
East
Elevation
El Fierro
FZ-DH-21-55
240
45
295.5
6741003
2455277
4231
FZ-DH-22-68
100
60
350
6740704
2454816
4268
FZ-DH-22-72
280
60
401
6740703
2454825
4268
FZ-DH-22-74
280
65
450
6740621
2455163
4290
FZ-DH-22-76
280
60
300
6740562
2455455
4304
FZ-DH-22-78
280
60
401
6740583
2455319
4286
FZ-DH-22-80
280
60
401
6740164
2454834
4418
FZ-DH-22-83
280
60
401
6740124
2455028
4382
FZ-DH-22-84
100
60
400
6740446
2455023
4325
FZ-DH-22-85
0
90
400
6739789
2454561
4576
FZ-DH-22-86
280
75
15.5
6740921
2455068
4254
FZ-DH-22-87
0
90
219
6742409
2455696
3994
FZ-DH-22-88
0
90
599
6740658
2454969
4292
FZ-DH-22-90
280
60
400
6740721
2454674
4287
ANT-DH-22-89
270
65
551
6743887
2455448
4266
La Poncha
PON-DH-22-01
310
50
501
6695007
2444741
4889
PON-DH-22-02
170
60
600
6695271
2444581
4552
PON-DH-22-03
130
50
294.9
6695255
2444666
4536
PON-DH-22-04
130
80
250
6695088
2444949
4466
PON-DH-22-05
310
50
262.4
6694887
2445134
4393
PON-DH-22-06
300
50
308
6694914
2444643
4478
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). The holes contained in this press release were analyzed by methods Au-AA24 (Fire
Assay Fusion and Atomic Absorption Spectrometry finish) and ME-MS61 (Four Acid Digestion with
Mass Spectrometry finish); the latter one includes 48 elements (Al, Ag, As, Ba, Be, Bi, Ca, Cd, Ce,
Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc,
Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Both digestion methods dissolve most minerals
but not all elements are quantitatively extracted in some sample matrices. 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/October2022/12/c9519.html
%SEDAR: 00008665E
For further information:
Ruben Padilla, President & CEO at [email protected] or
+1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 07:00e 12-OCT-22