Sable Initiates Summer Activities in San Juan Projects in Argentina and Announces Stock Option Grant
Sable Initiates Summer Activities in San Juan
Projects in Argentina and Announces Stock
Option Grant
VANCOUVER, BC
,
Oct. 14, 2021
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to report that it has initiated exploration activities at all of
its projects in San Juan,
Argentina
.
At the
El Fierro Project
, the Company plans to undertake a second phase of drilling and will
continue district exploration work in the El Fierro large and prospective land package. The camp is
now fully functional and the geology team has initiated mapping and prospecting activities. Quantec
Argentina has already acquired around 30% of a 900 line kilometre Ground Magnetics survey to
expand the 264 line kilometres acquired last season. The construction of roads and drill pads is
quickly advancing and drilling is expected to start in few days. Sable has engaged two rigs from
Foraco Argentina for this drill campaign.
At the
Don Julio Project,
the Company is finalizing drill preparations to initiate drilling on bulk-
tonnage porphyry – skarn targets. Installation of the Don Julio camp has been completed and road
maintenance is scheduled to begin immediately. Sable's geologists will initiate mapping next week
and by the end of October Quantec Argentina will begin a 180 line kilometre Ground Magnetics
survey that will complement the 400 line kilometre UAV Magnetics survey completed last season.
Sable has signed a contract with EcoMinera drilling for the drilling of Don Julio Project scheduled to
begin in
January 2022
. Exploration work at Don Julio is fully funded by Sable's joint venture partner
South32.
At the
Los Pumas Project,
ongoing field work following up on the large number of high-grade sub
outcrops discovered during the last field season will define drill targets. A small camp has been built
at Los Pumas Project and mapping and trenching has already begun. Trenching will be conducted in
all the Au-Ag-Cu anomalous zones discovered in the project over an area of 6 kilometres by 4
kilometres. Exploration work at Los Pumas is fully funded by South 32, Sable's joint venture partner.
At the
La Poncha Project,
the Company's activities this field season are focused on finalizing drill
preparation and initiation of drilling the two known Gold-Copper porphyry bulk-tonnage
targets. Road maintenance is underway between the village of Colanguil and La Poncha Project to
allow for the construction of the camp which is scheduled for completion by the end of October.
Drilling at La Poncha is expected to start by the end of November. ConoSur Drilling has been
engaged for the drilling of La Poncha Project this season.
Dr.
Ruben Padilla
, Chief Executive Officer of Sable commented, "We're extremely excited to initiate
work at our four projects in San Juan. This will be a very active summer season for Sable with an
aggressive campaign of 25,000 metres of drilling distributed in three projects."
The Company also reports that it has granted an aggregate of 4,250,000 options to purchase
common shares of the Company to directors, officers, employees and consultants in accordance
with the Company's stock option plan. The options granted are exercisable at $0.25 for a period of
five years.
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 (151,850 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.
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.
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%SEDAR: 00008665E
For further information:
Ruben Padilla, President & CEO at [email protected] or
+1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 07:00e 14-OCT-21