Sable Intercepts 2.21% CuEq over 11.1m and 1.3% CuEq over 13.7m at La Gringa Target within the Don Julio Project
Sable Intercepts 2.21% CuEq over 11.1m and
1.3% CuEq over 13.7m at La Gringa Target
within the Don Julio Project
VANCOUVER, BC
,
March 7, 2023
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to announce initial results of the ongoing drilling program
at the Don Julio Project in
San Juan
,
Argentina
. The Company has received full results from the first
three holes drilled this exploration season, located within La Gringa target: DJ-DH-22-10, DJ-DH-22-
11, and DJ-DH-23-12. All exploration expenditures at Don Julio are fully funded under the Earn-In
Agreement between the Company and South32, signed in 2021.
"The near-surface high-grade Cu-Au mineralization intercepted by hole 12 represents a new
mineralization style that will be followed up to understand its actual geometry, size, and
relationship with the overall porphyry system at the La Gringa target. We are expanding the search
towards the west with promising geological and geochemical observations," stated Dr
Ruben
Padilla
, President, and CEO of Sable.
Highlights
Below are highlights of the reported drill holes with location data and highlighted intervals included in
Tables 1 and 2 below.
DJ-DH-22-12
2.21% CuEq (1.61% Cu; 19.1 g/t Ag; 0.38 g/t Au; 0.4% Zn) over
11.1m
from 53.0 to
64.1m
Including
8.42% CuEq (6.52% Cu; 84 g/t Ag; 0.99 g/t Au; 1.21% Zn) over
0.7m
from 55.0 to
55.7m
5.96% CuEq (3.76% Cu; 25.4 g/t Ag; 2.39 g/t Au; 0.64% Zn) over
0.55m
from 60.0 to
60.55m
8.80% CuEq (6.75% Cu; 82.1 g/t Ag; 0.95 g/t Au; 1.74% Zn) over
0.5m
from 63.6 to
64.1m
1.3% CuEq (0.54% Cu; 6.81 g/t Ag; 0.95 g/t Au) over
13.7m
from 149.0 to
162.7m
Including
11.11% CuEq (4.64% Cu; 56.6 g/t Ag; 8.09 g/t Au; 0.22% Zn) over
1.1m
from 160.5 to
161.6m
7.81% CuEq (3.52% Cu; 43.8 g/t Ag; 5.24 g/t Au; 0.24% Zn) over
0.5m
from 162.2 to
162.7m
3.58% CuEq (0.82% Cu; 7.95 g/t Ag; 3.69 g/t Au) over
2.0m
from 202.0 to
204.0m
10.58% CuEq (4.85% Cu; 50.4 g/t Ag; 7.19 g/t Au; 0.15% Zn) over
1.0m
from 221.5 to
222.5m
DJ-DH-22-10
0.21% CuEq (2.12 g/t Ag; 0.13 g/t Au; 0.09% Cu) over
12.1m
from 205.5 to
217.6m
1.1% CuEq (4.09 g/t Ag; 0.27 g/t Au; 0.87% Cu) over
1.0m
from 227.0 to
228.0m
1.57% CuEq (17.2 g/t Ag; 0.7 g/t Au; 0.91% Cu) over
2.0m
from 330.0 to
332.0m
0.31% CuEq (0.18 g/t Au; 0.18% Cu) over
20.0m
from 380.0 to
400.0m
Including
1.36% CuEq (1.76 g/t Ag; 0.82 g/t Au; 0.75% Cu) over
2.0m
from 392.0 to
394.0m
0.62% CuEq (0.28 g/t Au; 0.41% Cu) over
2.0m
from 396.0 to
398.0m
0.23% CuEq (1.23 g/t Ag; 0.083 g/t Au; 0.16% Cu) over
63.0m
from 482.0 to
545.0m
Including
0.75% CuEq (1.32 g/t Ag; 0.31 g/t Au; 0.51% Cu) over
2.0m
from 510.0 to
512.0m
1.37% CuEq (9.82 g/t Ag; 0.22 g/t Au; 1.12% Cu) over
2.0m
from 522.0 to
524.0m
1.45% CuEq (1.98 g/t Ag; 0.44 g/t Au; 1.11% Cu) over
2.0m
from 543.0 to
545.0m
DJ-DH-22-11
0.11% Cu over
12.0m
from
375.0m
to
387.0m
0.14% CuEq (0.091% Cu; 139 ppm Mo; 0.95 g/t Ag) over
305m
from 528.0 to
833.0m
Including
0.14% CuEq (0.097% Cu; 129 ppm Mo) over
59.0m
from 528.0 to
587.0m
0.17% CuEq (0.11% Cu; 151 ppm Mo; 1.32 g/t Ag) over
45.8m
from 636.2 to
682.0m
0.17% CuEq (0.11% Cu; 135 ppm Mo; 1.4 g/t Ag) over
16.0m
from 758.0 to
774.0m
Figure 1. Location of reported holes from the La Gringa target. Holes from the 2021/2022
exploration season are shown in blue with holes from the current season (2022/2023) are shown in
black. (CNW Group/Sable Resources Ltd.)
Hole Descriptions
DJ-DH-22-12
DJ-DH-22-12 (Hole 12) was drilled
800m
west of DJ-DH-22-07, completed last season, targeting a
large chargeability anomaly identified at the La Gringa target. Mineralization intercepted by hole 12
was completely covered by thin quaternary gravels (Figures 1 and 2) and consists of chalcopyrite,
tennantite, enargite, and sphalerite, typical of deep levels of the high-sulfidation environment. The
hole cut at least three zones of massive sulfides, breccias, and stockworks which geometry is not
fully understood yet. Hole DJ-DH-23-14 was drilled in the opposite direction to hole 12 to understand
the geometry of the mineralization with results still pending. The mineralization style resembles high-
sulfidation deposits such as Čukaru Peki located in the district of Bor in Serbia and other deep level
Cu-Au high-sulfidation systems.
Figure 2. Cross section along drill holes DJ-DH-23-12 and 14 showing Cu values for hole 12 and
chargeability on the background. (CNW Group/Sable Resources Ltd.)
DJ-DH-22-10
DJ-DH-22-10 (Hole 10) targeted a magnetic anomaly combined with low resistivity and geochemical
anomalies from historical hole ATW-03 (Figures 1 and 3). The hole was dominated by advanced
argillic alteration transitioning into sericite-illite with presence of A and B veinlets. Although the hole
did not reach potassic alteration, it extended the porphyry environment at least
900m
from hole DJ-
DH-22-07 drilled last year. It intercepted a significant number of high-sulfidation structures with Au-
Cu anomalies characterized by tennantite, enargite, and pyrite.
DJ-DH-22-11
DJ-DH-22-11 (Hole 11) was planned to follow up on biotite alteration and early porphyry veining
encountered in holes DJ-DH-22-07 and DJ-DH-22-09 from last season (Figures 1 and 4). The hole is
located
580m
west from DJ-DH-22-07. Hole 11 intercepted a similar alteration transition from
advanced argillic (kaolinite-alunite-pyrophyllite), progressing into sericite-illite and then going into
strong biotite alteration with abundant A and B type veinlets. The hole was showing a positive
increase in molybdenite, chalcopyrite and veinlets, when it had to be abandoned due to technical
problems at
833m
.
Figure 3. Cross section along DJ-DH-22-10 showing geochemical results and geophysical anomaly
targeted. (CNW Group/Sable Resources Ltd.)
Figure 4. Cross section along DJ-DH-22-11 showing Molybdenum results and magnetics on the
background. (CNW Group/Sable Resources Ltd.)
Hole
Azimuth
Dip
Depth
Northing
Easting
Elevation
DJ-DH-22-10
220
70
686
6626144
2432900
4462
DJ-DH-22-11
65
70
833
6627047
2431930
4330
DJ-DH-23-12
220
55
461
6627300
2431750
4300
Table 1. Location of reported holes
Hole
From
To
Interval
(m)
Ag
(g/t)
Au
(g/t)
Cu
(%)
Mo
(ppm)
Zn
(%)
CuEq
(%)
AuEq
(%)
DJ-DH-22-10
16.5
17.1
0.6
50.5
2.14
2.74
DJ-DH-22-10
205.5
217.6
12.1
2.12
0.13
0.09
0.21
DJ-DH-22-10
227.0
228.0
1.0
4.09
0.27
0.87
1.1
DJ-DH-22-10
330.0
332.0
2.0
17.2
0.7
0.91
1.57
DJ-DH-22-10
380.0
400.0
20.0
0.18
0.18
0.31
Including
392.0
394.0
2.0
1.76
0.82
0.75
1.36
And
396.0
398.0
2.0
0.28
0.41
0.62
DJ-DH-22-10
482.0
545.0
63.0
1.23
0.083
0.16
0.23
Including
510.0
512.0
2.0
1.32
0.31
0.51
0.75
And
522.0
524.0
2.0
9.82
0.22
1.12
1.37
And
543.0
545.0
2.0
1.98
0.44
1.11
1.45
DJ-DH-22-11
375.0
387.0
12.0
0.11
DJ-DH-22-11
528.0
833.0
305.0
0.95
0.091
139.0
0.14
Including
528.0
587.0
59.0
0.097
129.0
0.14
And
636.2
682.0
45.8
1.32
0.11
151.0
0.17
And
758.0
774.0
16.0
1.4
0.11
135.0
0.17
DJ-DH-22-12
53.0
64.1
11.1
19.1
0.38
1.61
0.4
2.21
Including
55.0
55.7
0.7
84.0
0.99
6.52
1.21
8.42
And
60.0
60.55
0.55
25.4
2.39
3.76
0.64
5.96
And
63.6
64.1
0.5
82.1
0.95
6.75
1.74
8.80
DJ-DH-22-12
102.0
102.5
0.5
2.04
1.0
0.391
1.13
DJ-DH-22-12
149.0
162.7
13.7
6.81
0.95
0.54
Including
160.5
161.6
1.1
56.6
8.09
4.64
0.22
11.11
And
162.2
162.7
0.5
43.8
5.24
3.52
0.24
7.81
DJ-DH-22-12
202.0
204.0
2.0
7.95
3.69
0.82
3.58
DJ-DH-22-12
221.5
222.5
1.0
50.4
7.19
4.85
0.15
10.58
Table 2. Highlighted intervals from reported holes
Porphyry mineralization is characterized by broad zones of disseminated sulfides and vein
stockwork; high-grade Cu-Au mineralization intercepted in hole 12 consists of irregular zones of
semi-massive sulfides, sulfide-rich breccias, and stockworks; therefore, true width cannot be
determined at this time. CuEq and AuEq were calculated based on 100% recovery and prices of
USD 1,500
per oz for gold; USD 18.00 per oz for Ag; USD 3.00 per pound for copper;
USD 10.00
per pound of molybdenum, and
USD 1.10
per pound of zinc.
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 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; GroundMag, and UAV-Mag, and induced polarization. Sable
performed a first drilling campaign in 2019 with
3,101m
drilled in 11 holes and a second campaign in
early 2022 comprising
4,294m
in 9 holes. 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 Tier-One new precious
metal and copper 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.
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:
please contact: Ruben Padilla, President & CEO at
[email protected] or +1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 07:00e 07-MAR-23