Sable Stakes Spences Bridge Gold Belt, Forms Strategic Alliance with Westhaven
Sable Stakes Spences Bridge Gold Belt,
Forms Strategic Alliance with Westhaven
TORONTO
,
Oct. 16, 2018
/CNW/ - Sable Resources Ltd ("Sable" the "Company") (TSXV: SAE) is
pleased to announce the staking of a 189,197 hectare land package covering over 70% of workable
ground of the Spences Bridge Gold Belt (SBGB) in Southern British
Colombia
,
Canada
. The ground
is held by Sables' 100% subsidiary Multinational Mining Inc. The SBGB is a 200-kilometer long by 30
kilometer wide, emerging Low-Sulphidation Epithermal Gold Belt that Sable believes to be highly
prospective and underexplored. Interpreted by Sable to be a failed cretaceous rift basin, Sable
believes the belt is prospective for
Fruta del Norte
style high-grade epithermal mineralisation.
In addition to the claim staking, Sable has also formed a strategic alliance with Westhaven Ventures
Inc ("Westhaven") (TSXV: WHN). Westhaven recently released high grade intersects at their
Shovelnose project (
October 2
nd
, 2018) intersecting 1.65 Metres of 175 g/t Gold and 249 g/t Silver
and recognition of visible gold in 5 drill holes. The Alliance brings together Sable's and Westhaven's
technical expertise and combined control of 86% of the Gold Belt (225,000ha). In accordance with
an existing Confidentiality and Non Disclosure Agreement between the two companies, any ground
staked by Sable within 5-kilometre of Westhaven's existing projects will be subject to a 2.5% NSR.
In addition Westhaven has a 30 day Right of First Refusal (ROFR) for a three-year period for any
properties within this 5-kilometre radius.
"Representing one of the largest single staking exercises in
British Columbia
, the acquisition of
Spences Bridge
is directly inline with our ongoing Upper Level Epithermal Strategy, acquiring ground
and projects in world class jurisdictions in prospective terranes we believed to be underexplored."
Commented
Terry Harbort
, Vice President of Corporate Development for Sable. "We have been
monitoring the SBGB for some time waiting for the right moment to implement our strategy. Our
alliance with Westhaven now gives us combined control of the vast majority of this highly prospective
gold belt. As the Mexico Regional program moves in to Phase II (detailed sampling and mapping)
and the
San Juan
Regional Program (
Argentina
) moves into Phase III (Drilling) the Spences Bridge
Regional Program will rebuild our Phase I pipeline, ensuring that Sable Shareholders have a robust
exploration project portfolio for the foreseeable future."
"We are very pleased to be partnering with Sable's successful and experienced technical team,"
stated
Gareth Thomas
, President & CEO of Westhaven. "We believe our recent results and
operational experience in the SBGB combined with Sable's epithermal and greenfields knowledge
forms a strong alliance mutually beneficial to both companies."
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.
ABOUT WESTHAVEN VENTURES INC.
Westhaven Ventures Inc
.
is a Canadian based exploration company focused on the acquisition and
exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose,
Prospect Valley, Skoonka and Skoonka North gold projects in
British Columbia
. Westhaven trades
on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call
GarethThomas at 604-681-5558 or visit Westhaven's website at
www.westhavenventures.com
MAPS AND MULTIMEDIA CONTENT
For additional maps and multimedia content please visit
sableresources.com/investors
.
We seek safe harbor.
SOURCE
Sable Resources Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/October2018/16/c7568.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 09:00e 16-OCT-18