Sable Resources 2018 Exploration Program
Sable Resources 2018 Exploration Program
Summary January 7, 2019
TORONTO
,
Jan. 7, 2019
/CNW/ - Sable Resources Ltd ("Sable" the "Company") (TSXV: SAE) is
pleased to release its 2018 Exploration Program Summary. The summary covers Sable's projects in
multiple jurisdictions including
Mexico
,
Argentina
,
Peru
, and
Canada
.
Mexico
Margarita Project
During the second quarter of 2018 Sable completed a drill campaign of
2,420m
in 12 drill holes at
the Margarita Ag (Zn-Pb) project. Margarita consists of various outcropping Epithermal silver, zinc
lead veins hosted in Eocene-Oligocene Volcanics rocks. The project is defined by 5
veins; Margarita, El Caido, Juliana, Faviana, and Marie. All exploration drilling by Sable up to this
point was executed along
750m
strike of the Margarita Vein. Results for the first round of drilling
include close to surface high-grade intersections up to
12.7m
wide (e.g. M-DDH-18-11: 252.01
g/t AgEq over
11.3m
; M-DDH-18-04: 462 g/t AgEq over 4.25 m) and larger low-grade halos (e.g.
M-DDH-18-12: 36.53 g/t AgEq over 21.35m and M-DDH-18-03: 50.26 g/t AgEq over 44 m).
A second round of drilling planned to start in mid-January includes
1360m
in 9 holes to extend the
drilling for 1.5km along the known surface trace of the Margarita vein and to close the drilling grid to
approximately
250m
space. In addition,
1750m
will be drill in 13 exploration holes that will test the
other veins known in the property.
3 coarse rejects core-samples have been sent to the
Lakefield
laboratory of SGS in
Canada
to test
leachability of Silver from Margarita. Preliminary results from bottle roll leaching of the fine-grain
sample were positive. Now leachability in a coarser fraction is being tested. Detailed mineralogy of
samples is also being tested using QEMSCAM. Final results are expected early in the new year.
Vinata Project and other Sable tenements
Sable
Mexico
, Sable Resources 100% owned Mexican subsidiary, received 12 titles for a total of
38,396ha in the
state of Chihuahua
all covering know stream sediment and rock sample anomalous
areas, including the drill ready Vinata upper level epithermal vein system located toward the NE of
the Margarita project. The company has also initiated the application for the Vinata Project drill
permit.
San Juan
,
Argentina
Sable has the option to earn 100% on a tenement package of over 35,000ha located in the Province
of
San Juan
,
Argentina
. The
San Juan
exploration program of Sable covers upper epithermal
systems associated with the Upper Miocene Olivares volcanic field, a likely continuation of the El
Indio Gold Belt. Sixteen targets have been identified in the land package. Two high sulphidation style
gold targets were prepared for drilling during the first quarter of 2018. The targets,
Heaven Hill
and
Esperanza
, are part of the Don Julio High Sulphidation Cluster. In addition, during September of this
year a new high sulphidation target zone called Victor was identified within the Don Julio Cluster.
Also starting on September of this year, Phase 2 work had been advanced in other two target areas
known as
San Gabriel
and Lodo, both areas are represented by multiple Intermediate Sulphidation
style veins interpreted to be preserved upper levels of the epithermal system. In addition to
San
Gabriel
and Lodo, Phase 2 work is also advancing in other targets located around the Don Julio
lithocap zone including
Silver Valley
and
Cerro Colorado
.
During the last quarter of 2018, the company completed the first reconnaissance drilling at some of
the targets of the Don Julio Cluster for a total of
3101m
in 11 drill holes. Sampling of core is
underway and Sable expects to receive results early in the New Year.
Peru
Sable optioned the gold high-sulphidation Scorpius project on the 3
rd
quarter of 2018 and has just
completed all Phase 2 work including mapping, rock sampling, and 4km of IP. Preliminary
interpretation shows good correlation with high sulphidation alteration, gold anomalies, domes, and
resistivity-chargeability anomalies. In parallel to the Phase 2 work, Sable contracted a professional
group to complete all fieldwork required to advance the drill permit application. All fieldwork is now
complete following negotiations and surface right access granted by the local communities.
Canada
Spences Bridge Gold Belt
Sable completed the outright purchase from Alexandra Capital Corp of 8 additional claims in the
Spences Bridge Bold Belt (SBGB). The claims totaling 3516.7 hectares increases Sables holdings in
the belt to 192,714 hectares. Located immediately adjacent to the north of Westhaven's Prospect
Valley project, all claims are in good standing and cover numerous mineral occurrences and historic
geochemical anomalies. In Addition Sable conducted a 516-line kilometer combined Magnetic-
Radiometric geophysical survey as an extension of Westhaven's recently announced survey.
Extensive planning is currently underway for Phase I exploration across the entire SBGB package to
initiate fieldwork early in the spring. In addition existing mineral occurrences and historic geochemical
anomalies will be investigated with a view to advancing these targets rapidly to drill stage.
Tulox
A total of seven drill holes totaling
1322m
were completed between late October to early November
at Tulox targeting an initial 1.5km of the 2.5km gold in soil anomaly defined by numerous multi-line,
multi-station values above 80ppb coincident with the contact of two felsic intrusive bodies
distinguished by differing Thorium-Potassium gamma ray spectrometer signatures. Numerous holes
intersected mineralization associated with the granodiorite intrusive phase with veining occurring as
sheeted pyrite-rich veinlets of 1-3cm grey quartz veins with 1-4% pyrite. Sable expects to receive
complete results shortly.
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. Sables' main focus is developing their large portfolio of new greenfields projects to
resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San
Juan Regional Program (35,000ha) incorporating the Don Julio Project in
San Juan Province
,
Argentina
, the Mexico Regional Program (1.5Mha), incorporating the Margarita, Vinata and El
Escarpe drill ready projects and the BC Intrusion Related Program,
Canada
(13,600ha)
incorporating the drill ready Tulox Project.
We seek safe harbor
SOURCE
Sable Resources Ltd.
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http://www.newswire.ca/en/releases/archive/January2019/07/c5468.html
%SEDAR: 00008665E
For further information:
Tom Obradovich, President & CEO,
[email protected], Tel (416) 985-7140 or visit sableresources.com
CO: Sable Resources Ltd.
CNW 08:00e 07-JAN-19