Sable Presents Exploration Plan for Upcoming Season, Including 25,000m of Drilling
Sable Presents Exploration Plan for Upcoming
Season, Including 25,000m of Drilling
VANCOUVER, BC
,
Sept. 20, 2021
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to present the Company's planned exploration activities
covering multiple projects located in the well-endowed Miocene Mineral Belt of San Juan in
Argentina
(see figure 1 on page 3) and along the Central Mexico Silver Mineral Belt. The planned exploration
program will be undertaken commencing
September 2021
through
May 2022
, covering the South
American spring and summer field seasons. Sable is planning on conducting a total of 25,000 metres
of drilling on three projects. The Company is well-funded with approximately
C$28.5 million
in cash
and investments as of
June 30
, 2021. The planned exploration activities will cost an estimated
C$15.9 million
, leaving Sable in a strong cash position at the end of
May 2022
. South32 will fully fund
all work within the current joint venture area that is covered by the Earn-in Agreement signed
between the Company and South32 earlier this year (see press release dated
January 28
, 2021).
"Sable's systematic exploration approach is moving into a very active stage of drilling while keeping
its target generation capacity intact and maintaining a strong financial position," stated Dr.
Ruben Padilla, Sable's President and CEO who added, "When the rigs are turning in three different
high-quality projects a big discovery can happen. The next 10 months could be game changer
for Sable."
El Fierro Project, San Juan Argentina
Sable has identified a large vein field over an 8.5 by 6.5 kilometre area with 14.5 linear kilometres of
epithermal veins in four mineralized centers including:
Fierro Bajo
,
Fierro Alto
, La Verde, and
Lagunitas. Reconnaissance sampling was highlighted by multiple silver equivalent samples of over
1,000 g/t. Drilling commenced in
February 2021
returning multiple high-grade intercepts including
4,381 g/t AgEq over
0.5m
within 546.78 g/t AgEq over
9.95 m
from one of the first drill holes ever
drilled at the project.
Work planned for the 2021-2022 field season will consist of a second round of drilling of up to
15,000 metres to define the size potential of the deposit and prioritize veins for resource drilling.
District reconnaissance work will continue in parallel with the drilling including geophysics, trenching,
mapping, and sampling.
La Poncha Project, San Juan Argentina
La Poncha represents a cluster of porphyry - epithermal centers along the Miocene mineral belt that
hosts the Filo del Sol deposit, that recently reported an intercept of
858m
with 1.8% CuEq (See Filo
Mining press release dated
May 13, 2021
). During the upcoming field season, Sable plans to
conduct approximately 5,000 metres of drilling targeting two recently identified gold-copper porphyry
bulk-tonnage targets. Additional target generation work will also be completed in conjunction with
this program.
Sable – South32 JV, San Juan Argentina
Further to the Earn-in Agreement with South32 to jointly explore the 69,350 hectare land package
including the Don Julio cluster area, the Los Pumas Project and numerous early-stage regional
targets, significant exploration work that is 100% funded by South32 will be undertaken in the 2021–
2022 field season as outlined below.
Don Julio Cluster
The Don Julio project area contains several targets including Cu-Au porphyry, Au-Ag epithermal, and
polymetallic skarn targets generated from detailed mapping and geochemistry work over a period of
two and a half years. Earlier this year, Sable completed a 400 km UAV Magnetic survey, detailed
structural mapping of the Fermin skarn target, reinterpretation of historical geophysics at the Heaven
Hill area, and re-evaluation of other historical data.
Field work planned for the upcoming field season includes geophysics, mapping, sampling, and
construction of additional access roads, all in preparation for an approximate 5,000 metre drill
program expected to start in
January 2022
.
Los Pumas Project
In
January 2021
, Sable released geochemical results from the Los Pumas Project located 21 km
south of the Don Julio project. Los Pumas was discovered following up on a large ASTER anomaly
where alteration and mineralization was found returning values of up to 103 g/t Au; 2,650 g/t Ag; and
2.9% Cu on multiple clusters over an area of 6 by 4 kilometres.
Field work planned for the upcoming season will include construction of an access road, trenching,
and additional mapping.
Regional Targets
Sable and South32 are engaged on the first pass regional exploration of its large land package
outside the Don Julio cluster area. This regional exploration work has identified the Los Pumas
(described above) and multiple other targets. Initial reconnaissance work was conducted at Los
Patos and
San Francisco
regional targets in the first quarter 2021 and will continue during the
upcoming field season.
Mexico Regional Target Generation
The Company will continue advancing exploration activities with the follow-up of stream sediment
anomalies within its ground to generate new targets. Sable has 26,373 hectares in mineral titles and
1.16 million hectares in mineral applications along the world's richest silver mineral belt located in
central Mexico.
Figure 1. Location Sable's projects within the Miocene Mineral Belt of San Juan Argentina. (CNW
Group/Sable Resources Ltd.)
Sable is providing an opportunity for shareholders and other interested parties to participate in a
Webinar to be held at 4 pm ET on
Thursday, September 23
, 2021. To register, please click on the
following link -
https://us06web.zoom.us/webinar/register/WN_AhQ5ktn7TEKUs9ifOba-NA
.
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, 26,373ha 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 20-SEP-21