Sable Announces Positive Drill Results from Don Julio Drill Program
Sable Announces Positive Drill Results from
Don Julio Drill Program
• South32 Agrees to up to 7,000 metres for Second Drill Phase •
VANCOUVER, BC
,
Sept. 6, 2022
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV:
SAE) (OTCQB: SBLRF) is pleased to announce positive drill results from the drilling program
undertaken at the Don Julio Project, located in
San Juan Province
,
Argentina
during the months of
January through June. Based on these results, the Company plans to initiate a second phase drill
program under the current Earn-In agreement with a wholly-owned subsidiary of South32 Limited
("South32") at the Don Julio Project. The second phase drill program approved by South32 and
Sable comprises a minimum of 5,000 metres, expandable to 7,000 metres depending on results.
Sable plans to start the program immediately following the end of the Argentine winter in October.
The principal objective of the next drilling campaign is to continue testing the La Gringa and
Punta
Cana
porphyry targets following the encouraging results from the first phase drill program.
The results of the 4,294 metres drilled during the first half of 2022 confirmed the presence of Cu-Au-
Mo porphyry style alteration and mineralization associated with the over 5 km long lithocap that
extends from La Gringa on the northwest to Poposa on the southeastern limits of the lithocap. Both
the proximal alteration at La Gringa and the porphyry phases intercepted at the
Punta Cana
porphyry reported long anomalous intercepts. The porphyry mineralization discovered at Don Julio
and its associated advanced argillic alteration are part of the 6-10 Ma 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.
"Proving for the first time the transition from advanced argillic alteration into porphyry style
mineralization is very significant for the Don Julio Project, which has been explored for over 20 years
by multiple companies, including four years of systematic work by Sable. We are in the right
Miocene mineral belt and within a project area with multiple mineral centres that define a footprint of
more than 100 km
2
," stated
Ruben Padilla
, President and CEO of Sable, who added, "We
appreciate the financial and technical support of South32 during the initial drill program and its
support to continue drilling to search for higher grade zones within the concealed porphyry stock at
La Gringa, and unexplored parts of the
Punta Cana
porphyry system."
Highlights
DJ-DH-22-07 – La Gringa Target
*
0.33% CuEq (0.16% Cu, 0.2 g/t Au, 1.5 g/t Ag) over
61.9m
from
28.5m
to
90.4m
Including
0.38% CuEq (0.18% Cu, 0.25 g/t Au, 1.63 g/t Ag) over
17.5m
from
28.5m
to
46.0m
0.35% CuEq (0.18% Cu, 0.21 g/t Au, 1.71 g/t Au) over
34.4m
from
56.0m
to
90.4m
0.39% CuEq (0.13% Cu, 0.33 g/t Au, 1.42 g/t Ag) over
10.6m
from
161.2m
to
171.8m
107.3 ppm Mo over
125.0m
from
675.0m
to
800.0m
* Full assays for hole DJ-DH-22-07 have not been received. Shown intervals correspond to the upper and lower part of the hole. 285 samples are still being analyzed.
DJ-DH-22-09 – La Gringa Target
0.19% Cu, and 32 ppm Mo over
71.5m
from
324.0m
to
395.5m
Including
0.21% Cu, and 35 ppm Mo over
46.0m
from
339.5m
to
385.5m
0.12% Cu, and 37 ppm Mo over
48.5m
from
404.0m
to
452.5m
0.11% Cu, and 50 ppm Mo over
45.95m
from
459.5m
to
505.45m
0.11% Cu, and 56 ppm Mo over
8.5m
from
556.5m
to
565.0m
0.10% Cu, and 92 ppm Mo over
11.3m
from
611.7m
to
623.0m
DJ-DH-22-08 – Punta Cana Target
0.27 g/t AuEq (0.12 g/t Au; 3.65 g/t Ag; 0.077% Cu) over
403.0m
from
150.0m
to
553.0m
Including
0.29 g/t AuEq (0.13 g/t Au; 3.99 g/t Ag; 0.084% Cu) over
351.7m
from
150.0m
to
501.7m
Including
0.82 g/t AuEq (0.45 g/t Au; 5.30 g/t Ag; 0.23% Cu) over
10.4m
from
478.4m
to
488.8m
And
0.34 g/t AuEq (0.13 g/t Au; 6.36 g/t Ag; 0.095% Cu) over
192.0m
from
258.0m
to
450.0m
Including
0.49 g/t AuEq (0.17 g/t Au; 13.82 g/t Ag; 0.12% Cu) over
61.0m
from
282.0m
to
343.0m
Including
0.64 g/t AuEq (0.19 g/t Au; 24.18 g/t Ag; 0.12% Cu) over
22.4m
from
282.0m
to
304.4m
DJ-DH-22-06 – Punta Cana Target
0.44 g/t AuEq (0.11 g/t Au; 14.08 g/t Ag; 0.12% Cu) over
75.25m
from
324.0m
to 399.25
Including
0.68 g/t AuEq (0.13 g/t Au; 28.83 g/t Ag; 0.14% Cu) over
29.5m
from
335.5m
to
365.0m
0.29 g/t AuEq (0.14 g/t Au; 2.0 g/t Ag; 0.093% Cu) over
14.0m
from
260.5m
to
274.5m
Figure 1. Location of holes drilled of the La Gringa, Poposa, and Punta Cana targets. (CNW
Group/Sable Resources Ltd.)
Geology and Holes Description
Punta Cana
The
Punta Cana
porphyry is the most recent discovery of Sable's geology team. It consists of
discrete outcrops of different phases of diorite dykes hosting A, B, and Maricunga-type veinlets with
surface values up to 3 g/t Au, and 0.6% Cu, within a heavily covered terrain. Holes DJ-DH-22-06 and
DJ-DH-22-08 were collared from the same pad with different angles targeting the zones with better
grades in surface samples. Hole 06 started in poorly mineralized diorites and intrusion breccias only
showing minor Maricunga veinlets and then entering better mineralized phases with better defined
biotite alteration after
250m
depth where the best grades of Au-Cu are observed. Hole 8 started
similarly than hole 06 with scarce mineralization in the first
120m
and then going into a medium
grained diorite with Maricunga and A-type veinlets containing magnetite, chalcopyrite, and trace
bornite. General alteration consists of chlorite, illite, and weak biotite; both holes are affected by
carbonate-pyrite likely associated with Intermediate Sulfidation events that seems to introduce
significant values of silver to the Au-Cu mineralization. Hole 08 sits on the margin of a large magnetic
anomaly that will be tested next season looking for earlier and higher-grade intrusive phases. Two
more holes (DJ-DH-22-04, 05) were drilled targeting a diatreme breccia zone
500m
north of the
porphyry and did not return anomalous values.
Figure 2. Plan view of holes DJ-DH-22-06 and DJ-DH-22-08 from the Punta Cana target showing
distribution of Cu values. The background shows the magnetic anomaly that will be tested next
season. (CNW Group/Sable Resources Ltd.)
La Gringa
La Gringa is located on the northern extreme of the Miocene lithocap that characterizes Don Julio.
Two holes were drilled following a structural, alteration, and geochemical vector towards the west.
Hole 07 successfully went from strong advanced argillic alteration into well-defined sericitic and
finally into biotitic alteration. B and A type porphyry veinlets are observed almost from the beginning
of the hole but become more frequent and Mo bearing around
450m
. Hole 09 was drilled
480m
NW
of hole 07 and intercepted similar geology reaching biotite alteration around
500m
depth; significant
molybdenite and minor chalcopyrite mineralization was observed accompanying the porphyry veinlets
within the sericitic and biotite zones. Both holes intercepted almost exclusively Carboniferous
sediments (sandstone-siltstone) with only minor dacite dykes; the biotite alteration within the
sediments is considered proximal to the causative porphyry stock. Searching for such concealed
stock will be the focus of the next campaign at La Gringa.
Sable notes that full assays for hole DJ-
DH-22-07 have not been received, the intercepts shown correspond to the top and bottom parts of
the drill hole with the mid section (285 samples) still being analyzed by ALS Minerals
.
Figure 3. Cross sections of holes DJ-DH-22-07 and DJ-DH-22-09 at La Gringa target showing
distribution of Au, Cu and Mo. Assays for middle part of hole 07 have not been received. (CNW
Group/Sable Resources Ltd.)
Poposa
The Poposa target is located on the southwest margin of Don Julio lithocap. Three holes were drilled
in this area (DJ-DH-22-01, 02, and 03) targeting concealed porphyry mineralization beneath the
outcropping advanced argillic alteration. Although the three holes had stability issues and had to be
stopped before reaching the targeted depth, all of them showed transition from advanced argillic into
sericitic alteration as well as A and B veinlets towards the end of holes 01 and 02. Along the section
shown in Figure 4 gold values were as high as 1.8 g/t Au, 1.96% Cu; and 69 ppm Mo. Poposa is
located 4km South of La Gringa target and it is considered to represent a different porphyry center,
the target remains open for future drilling.
Figure 4. Cross sections along holes DJ-DH-22-01, DJ-DH-22-02 and DJ-DH-22-03 at the
Poposa
target showing distribution of Au, and Cu. (CNW Group/Sable Resources Ltd.)
Porphyry mineralization is characterized by broad zones of disseminated sulfides and vein
stockwork, therefore true width cannot be determined at this time. Maps and tables associated with
this press release will be available on Sable's website (
www.sableresources.com
). Mineralization at
La Gringa target seems to represent a traditional Cu-Au-Mo porphyry and therefore results are
presented as copper equivalent (CuEq) or individual Cu, Mo values. The
Punta Cana
porphyry shows
affinity with Au-rich porphyry systems typical of the Maricunga belt, containing Au, Cu and significant
amounts of Ag, Zn; results for
Punta Cana
are presented in gold equivalent (AuEq). CuEq and AuEq
were calculated based on 100% recovery and prices of
USD 1,500
per oz for gold; USD 18.0 per oz
for Ag; USD 3.0 per pound for copper; and
USD 10.0
per pound of Molybdenum. Although Zn is
highly anomalous at
Punta Cana
it was not included in the calculations.
Table 1 - Location of holes drilled at the La Gringa, Poposa, and Punta Cana Targets
Hole number
Azimuth
(°)
Dip
(°)
Depth
(m)
Northing
Easting
Elevation
(m)
DJ-DH-22-01
60
55
403.5
6623691
2433221
5012
DJ-DH-22-02
220
65
442.8
6624041
2433628
4874.8
DJ-DH-22-03
240
80
506.0
6623692
2433213
4998
DJ-DH-22-04
80
50
251.0
6624311
2431491
4766
DJ-DH-22-05
165
55
263.0
6624310
2431492
4766
DJ-DH-22-06
190
60
402.2
6623846
2431661
4985
DJ-DH-22-07
230
80
800.0
6627097
2432514
4360
DJ-DH-22-08
150
60
602.0
6623847
2431661
4985
DJ-DH-22-09
150
80
623.0
6627441
2432193
4286
Table 2 - Significant Intercepts for Reported Holes
Hole
From
(m)
To
(m)
Interval
(m)
Ag
(g/t)
Au
(g/t)
Cu
(%)
Mo
(ppm)
Zn
(%)
CuEq
(%)
AuEq
(g/t)
DJ-DH-22-06
155.50
193.10
37.60
6.66
0.067
0.0214
0.13
DJ-DH-22-06
260.50
274.50
14.00
2.00
0.14
0.093
0.29
DJ-DH-22-06
324.00
399.25
75.25
14.08
0.11
0.12
0.44
Including
335.50
365.00
29.50
28.83
0.13
0.14
0.68
DJ-DH-22-07
28.50
90.40
61.90
1.50
0.20
0.16
0.33
Including
28.50
46.00
17.50
1.63
0.25
0.18
0.38
And
56.00
90.40
34.40
1.71
0.21
0.18
0.35
DJ-DH-22-07
161.20
171.80
10.60
1.42
0.33
0.13
0.39
DJ-DH-22-07
675.00
800.00
125.00
107.3
DJ-DH-22-08
150.00
553.00
403.00
3.65
0.12
0.077
0.27
Including
478.40
488.80
10.40
5.30
0.45
0.23
0.82
And
150.00
501.70
351.70
3.99
0.13
0.084
0.29
Including
258.00
450.00
192.00
6.36
0.13
0.095
0.34
Including
282.00
343.00
61.00
13.82
0.17
0.12
0.49
Including
282.00
304.40
22.40
24.18
0.19
0.12
0.64
DJ-DH-22-09
286.60
298.30
11.70
0.11
DJ-DH-22-09
324.00
395.50
71.50
0.19
32.0
Including
339.50
385.50
46.00
0.21
35.0
DJ-DH-22-09
404.00
452.50
48.50
0.12
37.0
DJ-DH-22-09
459.50
505.45
45.95
0.11
50.0
DJ-DH-22-09
556.50
565.00
8.500
0.11
56.0
DJ-DH-22-09
611.70
623.00
11.30
0.10
92.0
ABOUT THE DON JULIO PROJECT
The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in
San Juan
,
Argentina
. It
includes the Don Julio cluster that contains numerous targets of porphyry (La Gringa, Poposa,
Amarillo,
Punta Cana
, Tocota); intermediate sulfidation (Lodo, San Gabriel,
Colorado
); skarn
(Fermin); and the regional properties that include the Los Pumas project as well as extensive
unexplored ground. Since 2018, Sable has conducted systematic surface work including mapping,
rock sampling, talus sampling, ground and UAV magnetometry, and induced polarization. Sable also
performed a first drilling campaign in 2019 with
3,101m
drilled in 11 holes targeting high-sulfidation
mineralization. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don
Julio Project.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the discovery of new precious and base
metal projects through systematic exploration in endowed terranes located in favorable, established
mining jurisdictions. Sable's 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.
ABOUT SOUTH32
South32 is a globally diversified mining and metals company. The company's purpose is to make a
difference by developing natural resources, improving people's lives now and for generations to
come. South32 is trusted by its owners and partners to realise the potential of their resources.
South32 produces commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc,
nickel, metallurgical coal and manganese from its operations in
Australia
,
Southern Africa
and
South
America
. With a focus on growing its base metals exposure, South32 also has two development
options in
North America
and several partnerships with junior explorers around the world.
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.
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/September2022/06/c8426.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 06-SEP-22