Sable Provides an Update on the Drilling Program at the Don Julio Project in San Juan, Argentina
Sable Provides an Update on the Drilling
Program at the Don Julio Project in San Juan,
Argentina
VANCOUVER, BC
,
March 6, 2023
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an update on exploration activities at the Don
Julio Project in
San Juan
,
Argentina
("Don Julio"), including the initial
5,000m
drilling program that
commenced late November and has now been expanded to
5,900m
. All exploration expenditures at
Don Julio are fully funded under the Earn-In Agreement between the Company and South32, signed
in 2021.
As of the date of this press release,
2,946m
of drilling has been completed in seven holes utilizing
two rigs, with 1,806 core samples having been cut and sent to the lab. The initial work was focused
on the La Gringa target and one of the rigs has now moved to the
Punta Cana
target. During the
last drill season, the Company defined two new porphyry centres at La Gringa and
Punta Cana
based on extensive presence of potassic alteration, early veinlets and significant copper, gold and
molybdenum anomalies. In addition to the ongoing drilling, the Company completed an 800 soil
sample program grid over the
Punta Cana
area and is advancing access roads to the Fermin
polymetallic skarn and to the Tocota Cu-Au porphyry to prepare these two targets for the first round
of drilling.
Dr.
Ruben Padilla
, Sable's President and CEO commented, "
The current drill program is advancing
on time and budget with several holes showing porphyry copper alteration and mineralization style,
extending the already large alteration footprint of the Don Julio project. We expect to receive and
release the first results of the drilling within a couple of weeks.
"
Figure 1. Location of holes at the La Gringa target. Holes from the 2021/2022 exploration season
are shown in blue while holes from the current season (2022/2023) are presented in black. (CNW
Group/Sable Resources Ltd.)
Detailed analysis of last year's drilling data from the La Gringa target, such as geochemistry,
spectral data, fluid inclusions, and geophysics has shown a mineralization vector towards the
southwest along the Chita creek valley. New surface and drilling observations demonstrate that the
porphyry-epithermal system present at La Gringa is larger and more complex than previously
thought.
At the La Gringa zone, hole DJ-DH-22-11 followed up on biotite alteration and porphyry style
mineralization observed in holes DJ-DH-22-07 and DJ-DH-22-09 drilled during the 2021/2022
season; hole 11 intercepted Cu-Mo porphyry style mineralization with results pending. Hole DJ-DH-
22-09 was drilled last season to
623m
and it is now being extended to a new final depth of
1,000m
.
On the western side of the main La Gringa valley, holes DJ-DH-23-12, DJ-DH-23-13, and DJ-DH-23-
14 tested the margins of a large chargeability anomaly obtained from last year's IP survey along the
valley, assay results are also pending.
Figure2. 3D chargeability model on plan view and distribution of drill holes at the La Gringa target
area. (CNW Group/Sable Resources Ltd.)
Besides the La Gringa target, hole DJ-DH-23-16 is currently being drilled at the
Punta Cana
target,
3 km south of La Gringa, where Au-Cu mineralization is outcropping and was intercepted in hole DJ-
DH-22-08 from last season, which turned an intercept of
403m
@ 0.27 g/t AuEq (see press release
dated
September 6, 2022
).
Figure 3. Punta Cana cross section on EW direction showing the position of
holes 06 and 08 from
the 2021/2022 season with respect to a vertical magnetic anomaly.
Ongoing hole DJ-DH-23-16 is
targeting the centre of such anomaly. Bars on the right side of holes trace represent intensity of
quartz veinlets. (CNW Group/Sable Resources Ltd.)
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.
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 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.
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.
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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For further information:
Please contact: Ruben Padilla, President & CEO at
[email protected] or +1 (520) 488-2520
CO: Sable Resources Ltd.
CNW 07:00e 06-MAR-23