Sable Defines Clear Drill Target at Scorpius Company Also Announces Grant Of Stock Options
Sable Defines Clear Drill Target at Scorpius
Company Also Announces Grant Of Stock Options
TORONTO
,
Feb. 26, 2019
/CNW/ - Sable Resources (TSX.V: SAE) (the "Company" or "Sable") is
pleased to announce the completion of Phase II, drill target definition work at the Scorpius Project
located in the Miocene Gold Belt of
Peru
.
The exploration included detailed mapping of a 4 km
2
area, collection of 49 rock samples that add to
the 524 previous rock samples results provided by the tenement holder, and 4 kilometers of Induced
Polarization (IP) survey distributed across 4 lines.
The objective of the rock sampling was to evaluate the surface gold geochemical values associated
to the different lithological units and alteration mineral assemblages. Gold values from the 49 rock
samples grade up to 4.91 g/t with 19 of the sample in the 0.1 to 1g/t range. Best gold values are
associated with silica-alunite alteration, silicification, and vuggy silica. Historic samples provided by
the tenement holder include gold values up to 7.75 g/t, including 90 samples grading between 0.1 to
1 g/t, and 23 samples grading more than 1 g/t.
Sample
ID
Gold
Value
(ppm)
Rock Description
Sample Type
225
4.91
Silica Alteration in Andesite
1.1m Channel
237
0.849
Silica Alteration
1.8m Selective Channel
203
0.599
Silica Alteration in Andesite
1.2m Channel
249
0.574
Silica Alteration
0.5m Selective Channel
204
0.37
Silica Alteration in Andesite
1m Selective Channel
238
0.319
Silica Alteration
1.2m Selective Channel
218
0.296
Silica Alteration in Andesite
0.7m Selective Channel
226
0.291
Silica Alteration in Andesite
0.4m Selective Channel
215
0.289
Silica Alteration in Andesite
1m Selective Channel
228
0.287
Silica Alteration in Andesite
0.4m Selective Channel
201
0.283
Silica - Alunite Alteration in Andesite
1.1m Channel
212
0.231
Strong Silica Alteration in Andesite
1m Selective Channel
210
0.213
Silica - Alunite Alteration
2m Channel
248
0.21
Silica Alteration
1m Selective Channel
232
0.206
Silica - Alunite Alteration in Andesite
1.7m Channel
247
0.161
Silica Alteration
2m Selective Channel
211
0.146
Silica Alteration in Andesite
1.6m Channel
206
0.143
Silica - Alunite Alteration in Dacite
2m Channel
216
0.112
Silica Alteration in Andesite
0.5m Selective Channel
222
0.101
Silica Alteration in Andesite
0.8m Channel
Table 1 Sable rock sample assay results from Scorpius Project
Figure 1 Location of released Sable samples with historic sampling (CNW Group/Sable Resources
Ltd.)
The IP survey covered a total of 4 km distributed in three lines oriented perpendicular to the
alteration corridor and one parallel. All lines identified a robust high-resistivity anomaly, at least
1000
m
long on the E-W direction, 500 to
600 m
wide, and 100 to
130 m
thick, with the top of the
resistivity high occurring from between the current surface and
100 m
depth.
Figure 2 Location of IP lines with sampling distribution and geology (CNW Group/Sable Resources
Ltd.)
Figure 3 IP showing high resistivity horizon in red (CNW Group/Sable Resources Ltd.)
The robust gold anomaly accompanying the typical high-sulphidation mineral assemblage within and
at the margins of domes with low levels of erosion, all coincident with high resistivity anomalies,
clearly justify to move forward with the first drill test at Scorpius, testing the potential to host an
open-pitable, heap-leaching deposit typical of the Miocene Gold Belt of
Peru
.
In parallel with the Phase 2 work the company initiated negotiations with local communities, and
completed all necessary field and administrative work required to request the environmental permit
to conduct drilling. Sable expects to have all permits ready on time to commence drilling during the
Peruvian Andes dry season early in Q3, 2019.
ABOUT THE SCORPIUS PROJECT
Acquired as part of Sables Upper Level Epithermal Strategy, The Scorpius High Sulphidation Project
is located in the prolific Miocene Gold Belt of
Central Peru
. Historic values at the Scorpius Project
range between 0.1 and 7.7g/t Au and define a 1km by 0.5km anomalous area coincident with
volcanic domes, silica ledges, quartz-alunite alteration and high-sulphidation pathfinders similar to
Sables'
Don Julio
project located in San Juan Province,
Argentina
. Sable has the rights to acquire
100% of the Scorpius Project for total payments of
$1 million dollars
over three years.
SABLE RESOURCES LTD. ANNOUNCES GRANT OF OPTIONS
Sable Resources Ltd has granted a total of 450,000 incentive stock options to an officer and
director of the Company pursuant to the Company's Stock Option Plan. Such options are exercisable
at a price of
$0.25
for a period of five years. The grant of options is subject to the approval and
requirements of the TSX Venture Exchange.
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. Sables' main focus is developing their large portfolio of new greenfields projects to
resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San
Juan Regional Program (35,000ha) incorporating the Don Julio Project in San Juan
Province, Argentina, the Mexico Regional Program (1.5Mha), incorporating the Margarita, Vinata
and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,600ha)
incorporating the drill ready Tulox Project.
QUALIFIED PERSON
Luis Arteaga M.Sc.
P.Geo. Exploration Manager for Sable Resources and the Company's Qualified
Person as defined by NI 43-101 has reviewed and approved the technical information in this news
release.
We seek safe harbor
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Sable Resources Ltd.
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%SEDAR: 00008665E
For further information:
Tom Obradovich, President & CEO, [email protected], Tel (416)
985-7140 Or visit sableresources.com
CO: Sable Resources Ltd.
CNW 08:00e 26-FEB-19