Sable Provides Update on Ongoing Don Julio Drill Program
Sable Provides Update on Ongoing Don Julio
Drill Program
VANCOUVER, BC
,
April 26, 2023
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company")
(TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an update on the ongoing drill program at the
Don Julio project, located in the province of
San Juan
,
Argentina
("Don Julio" or the "Project"). All
exploration activities at Don Julio are funded by South32 under the Earn-In Agreement between the
Company and South32, signed in 2021.
Dr.
Ruben Padilla
, President and CEO of Sable commented, "Don Julio is a multi-target project
contained within an area of over 10 x 10 km. This season's drilling program has been designed to
test several of these targets. The current drilling results from the La Gringa and
Punta Cana
targets
along with our geological observations define large anomalous mineral systems and provide
exploration vectors that take us closer to the causative porphyry intrusive centres which in porphyry
systems often host the best copper and gold grades. Drilling continues at La Gringa along with the
modeling of all available data from La Gringa and
Punta Cana
to continue exploration, refine the
geological models and to plan additional drilling."
Highlights
1-La Gringa
Nine drill holes have been completed this season at the La Gringa target for a total of
4,098m
.
Drilling has defined a >
1,500m
NNE long and >
1,000m
wide porphyry system, mostly covered by
thin quaternary gravels along the La Gringa valley (Figure 1). Cu-Au-Mo anomalous values are
hosted by altered siliciclastic rocks and hydrothermal breccias with an upper advanced argillic
alteration zone overprinting deeper sericitic and potassic alteration assemblages. The latest results
increase the size of the already large porphyry style mineralization that remains open along the NNE
strike and at depth. The causative intrusion, and potentially the host of the best Cu-Au grades, has
yet to be found.
DJ-DH-23-14
3.75% CuEq (17.3 g/t Ag; 1.44 g/t Au; 2.33% Cu; 0.58% Zn) over
2.90m
from 77.6 to
80.5m
Including
9.83% CuEq (46.5 g/t Ag; 3.85 g/t Au; 6.03% Cu; 1.61% Zn) over
0.50m
from 78.7 to
79.2m
DJ-DH-23-15
0.17% CuEq (3.14 g/t Ag; 0.092% Cu; 163 ppm Mo) over
17.0m
from 724.0 to
741.0m
0.17% CuEq (0.068% Cu; 319 ppm Mo) over
157.0m
from 844.0 to
1,001m
Including
0.22% CuEq (0.11% Cu; 333 ppm Mo) over
22.80m
from 903.20 to 926.0m
DJ-DH-23-17
1.11% CuEq (5.33 g/t Ag; 1.07 g/t Au; 0.28% Cu) over
6.0m
from 155.5 to
161.5m
DJ-DH-23-19
1.15% CuEq (8.63 g/t Ag; 0.42 g/t Au; 0.77% Cu) over
0.9m
from 281.55 to
282.45m
0.61% CuEq (5.48 g/t Ag; 0.3 g/t Au; 0.26% Cu) over
17.5m
from 326.5 to
344.0m
0.49% CuEq (9.77 g/t Ag; 0.16 g/t Au; 0.1% Cu) over
11.0m
from 427.0 to
438.0m
0.75% CuEq (14.88 g/t Ag; 0.37 g/t Au; 0.32% Cu) over
1.6m
from 448.1 to
449.7m
2-
Punta Cana
A
437m
drill hole (DJ-DH-23-16) was completed at
Punta Cana
targeting subcropping Au-Cu
porphyry style mineralization over a strong magnetic anomaly and close to two anomalous drill holes
from the last drill season (see Figure 3). The last
156m
of this hole returned 0.32 g/t AuEq
associated with quartz-bornite-chalcopyrite veinlets hosted by a series of subvolcanic intrusions and
breccias. The Company believes that this mineralization represents the highest part or carapace of
a large porphyry system at deeper level. Future drill campaigns will evaluate the grade profile of the
system below the 4,500 masl horizon (Figures 3 and 5).
DJ-DH-23-16
0.32 g/t AuEq (6.39 g/t Ag; 0.11 g/t Au; 0.086% Cu; 32 ppm Mo) over
156.0m
from 281.0 to
437.0m
Including
0.45 g/t AuEq (11.05 g/t Ag; 0.14 g/t Au; 0.11% Cu; 39 ppm Mo) over
55.0m
from 330.0 to
385.0m
Including
1.05 g/t AuEq (46.68 g/t Ag; 0.13 g/t Au; 0.15% Cu; 0.17% Pb; 0.14% Zn; 51
ppm Mo) over
12.0m
from 330.0 to
342.0m
3-Fermin
The first round of drilling started at the Fermin base metals skarn target during the last week of
March (Figure 5). Two drill holes for a total
450.8m
have been completed with assays pending.
Figure 1. Location of reported holes from the La Gringa target. CuEq (%) is shown along the hole
trace to highlight the large size of the geochemical anomaly associated with the La Gringa porphyry
system.
Holes from the 2021/2022 exploration season are shown in blue and holes from the current
season (2022/2023) are shown in black. (CNW Group/Sable Resources Ltd.)
Hole Descriptions
DJ-DH-22-14
Hole 14 was drilled perpendicular to hole DJ-DH-23-12, previously released and which intercepted
three intervals of high-grade Au-Cu-Ag mineralization associated with chalcopyrite, enargite, and
sphalerite bodies (Figure 2 and Table 2). The hole encountered the first mineralized zone
intercepted by hole 12 extending it around
50m
towards the west with similar grade profile. Hole
DJ-DH-23-18 was drilled on the western margin of the same chargeability anomaly targeting the
same mineralization style but did not intercept significant mineralization (Figure 2).
Figure 2. Cross section along drill holes DJ-DH-23-12, 14, and 18 with chargeability section on the
background. (CNW Group/Sable Resources Ltd.)
DJ-DH-22-15
Hole 15 was drilled as an extension of DJ-DH-22-09 drilled last season (Figure 1), the hole started
at
623m
and finished at
1,001m
of depth, becoming the deepest hole in the history of the Project.
The hole intercepted extensive biotite alteration in sedimentary rocks with abundant A and B
veinlets. Although the Cu anomaly is moderate, the Moly values are consistently high reaching up to
0.16% Mo and yielding >200 ppm Mo over the entire hole (Table 2). Results from this hole increase
the size of the already large moly halo external to the porphyry intrusion yet to be found.
DJ-DH-22-16
Hole 16 is the only hole drilled at the
Punta Cana
target this season; the hole targeted the core of a
conspicuous magnetic anomaly associated with the Au-Cu porphyry mineralization (Figures 3 and 5).
The hole intercepted a broad zone of Au-Ag-Cu mineralization represented by porphyry quartz
veinlets bearing chalcopyrite, bornite, and magnetite (Table 2). The mineralization found in the three
holes forms a relatively low angled zone with apparent orientation ENE. The veinlets are hosted in a
series of subvolcanic intrusions and breccias; the company believes that this mineralization
represents the highest part or carapace of a large porphyry system at deeper level. Future drill
campaigns will evaluate the grade profile of the system below the 4,500 masl horizon.
Figure 3. Cross section along DJ-DH-23-16 showing the intercepted mineralization with respect to
holes 06 and 08 from last season as well as magnetic 3D model on the background. (CNW
Group/Sable Resources Ltd.)
DJ-DH-23-17
Hole 17 is a shallow hole drilled on the eastern margin of the previously shown chargeability anomaly
looking for high-grade mineralization similar to the one intercepted in holes 12 and 14 (Figure 1 and
Table 2). The hole intercepted sediments with SCC and minor advanced argillic alteration crosscut
by abundant D veinlets. Although shallow the hole points to the large potassic alteration zone
defined by holes DJ-DH- 22-07, DJ-DH-23-11, and DJ-DH-23-15, and shows a marked increase in
Cu and Mo values towards its bottom helping with the larger scale vectoring at La Gringa.
DJ-DH-23-19
Holes DJ-DH-23-13 and DJ-DH-23-19 were both drilled on the western margin of the large
chargeability anomaly discovered along the La Gringa Valley (Figures 1 and 4). Hole 13 discovered
a series of hydrothermal breccias with advanced argillic alteration and weak copper mineralization
and hole 19 was a step back hole that defined a large diatreme breccia with Cu-Au-Ag anomalies.
Hole 19 also discovered several mineralized zones at depth including
17.5m
@ 0.61% CuEq
associated with pyrite-chalcopyrite in pyrophyllite veinlets (Table 2).
Figure 4. Cross section along holes DJ-DH-23-13 and DJ-DH-23-19 drilled from the western margin
of the chargeability anomaly shown on the background. Bars display CuEq (%) to highlight the
significant geochemical anomaly. (CNW Group/Sable Resources Ltd.)
Figure 5. Location of drill holes from Punta Cana and Fermín targets. (CNW Group/Sable Resources
Ltd.)
Hole
Azimuth
Dip
Easting
Northing
Elevation
Depth
DJ-DH-23-13
55
70
2431386
6626757
4342
455
DJ-DH-23-14
50
50
2431681
6627231
4310
229
DJ-DH-23-15
150
80
2432193
6627441
4286
1,001
DJ-DH-23-16
90
70
2431762
6623732
5084
437
DJ-DH-23-17
50
50
2431787
6627108
4321
202.5
DJ-DH-23-18
55
65
2431236
6626884
4286
356
DJ-DH-23-19
55
70
2431272
6626678
4360
498
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-23-14
77.60
80.50
2.90
17.3
1.44
2.33
0.58
3.75
Including
78.70
79.20
0.50
46.50
3.85
6.03
1.61
9.83
DJ-DH-23-14
137.90
140.00
2.10
2.57
0.32
0.085
0.34
DJ-DH-23-14
165.45
165.95
0.50
4.33
0.21
0.74
0.93
DJ-DH-23-15
844.00
1,001.00
157.0
0.068
319
0.17
Including
724.00
741.00
17.0
3.14
0.092
163
0.17
And
903.20
926.00
22.80
0.11
333
0.22
DJ-DH-23-16
281.00
437.00
156.00
6.39
0.11
0.086
32
0.32
Including
330.00
385.00
55.00
11.05
0.14
0.11
39
0.45
Including
330.00
342.00
12.00
46.68
0.13
0.15
51
1.05
DJ-DH-23-16
403.50
420.80
17.30
2.27
0.10
0.10
44
0.29
DJ-DH-23-17
23.50
25.50
2.00
9.71
0.14
0.12
0.30
DJ-DH-23-17
155.50
161.50
6.00
5.33
1.07
0.28
1.11
DJ-DH-23-17
181.50
183.50
2.00
1.96
0.14
0.14
0.25
DJ-DH-23-19
281.55
282.45
0.90
8.63
0.42
0.77
1.15
DJ-DH-23-19
326.50
344.00
17.50
5.48
0.30
0.26
0.61
DJ-DH-23-19
427.00
438.00
11.00
9.77
0.16
0.10
0.49
DJ-DH-23-19
448.10
449.70
1.60
14.88
0.37
0.32
0.75
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 14 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.
Webinar
Sable's President and CEO,
Ruben Padilla
, will be providing an exploration update discussing these
results and the 2022 / 2023 exploration season. The webinar, hosted by Adelaide Capital, is
scheduled for
Monday, May 1, 2023
at
4:15pm EST
.
Register at the following link -
https://us02web.zoom.us/webinar/register/WN_NmJer5IyT7OT8J67Ibfbkg
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/April2023/26/c6814.html
%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 26-APR-23