The Shasta mine will resume operations after being placed on care-and-maintenance last October for the
VANCOUVER, British Columbia, April 19, 2012 ‐ Sable Resources Ltd. (TSX‐V:SAE) (the "Company") is pleased to provide an update to shareholders regarding the Company’s activities and its planned resumption of operations at the Shasta mine.
The Shasta mine will resume operations after being placed on care-and-maintenance last October for the winter. Preparations have begun to have the camp opened for mining activities. An advance mining crew will be mobilized to begin full scale mining operations as soon as possible. Mining activity will initially concentrate on completing the blasthole stopes between the 1235, 1255 and 1270 levels of the Creek zone to produce a stockpile for the Baker mill. Following completion of the blasthole stopes, cut-and-fill mining will take place between the 1270 and 1290 levels.
Additional development headings are planned to explore the JM and Creek zones north towards their projected area of intersection, and south along the Creek zone past the currently planned stoping area. This planned development will pass through widely spaced historic drill intercepts with results such as: 26 metres of 1.6 g/t Au and 70 g/t Ag in hole DD84-19 (including 1m of 19.9 g/t Au and 1247 g/t Ag); and 2.4 metres of 6.1 g/t Au and 393 g/t Ag in drill hole DD89-47.
The Company also plans to pursue the development of the recently optioned METS property (See Company news release February 9, 2012). Records indicate that exploration efforts were successful in providing a historical (not NI 43-101 compliant) resource of 158,000 tonnes grading 0.331 oz/t gold for the ‘A’ vein in 1987, and 349 metres of underground development were completed by 1992. Work planned for this year includes up to 1000 metres of diamond drilling and base-line environmental studies, as well as permitting and access construction. The foregoing historical resource estimate was completed prior to the implementation of NI 43-101. Sufficient work to classify the historic mineral resource as a current mineral resource has not been completed. Hence, the resource estimate should not be relied upon.
In addition to the planned mining activity at Shasta and development at the METS, the Company has been very active in pursuing additional opportunities to maximize shareholder value. The existing infrastructure and permits the Company holds provides a competitive advantage for advancing mineral deposits in the region. Discussions have included toll milling, joint venture, option arrangements and other business and financing opportunities.
About Sable Resources Ltd
Since 1989, Sable has focused on the Toodoggone Gold/Silver Project ‐ mining and producing gold and silver from the Shasta and Baker properties. Operations have been from surface workings and underground developments on both properties. The mine and mill are permitted by the Province of British Columbia to produce at a rate of 250 ton‐per‐day. The Baker Mill was commissioned for DuPont of Canada in 1980 by Kilborn Engineering (Vancouver). The mill allows the production of either a flotation concentrate to be exported for additional refining, or on‐site production of gold and silver dore bars.
Melvyn Rahal, President & C.E.O.
[email protected] Tel: (604) 685-8565 Fax: (604) 685-7625 1290 – 625 Howe Street, Vancouver, BC V6C 2T6 Or visit http://www.sableresources.com/
Neither the TSX Venture Exchange nor its Regulator Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this release. This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Sable. The forward-looking statements or information contained in this news release are made as of the date hereof and Sable does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.