TORONTO, Jan. 7, 2020 /CNW/ - Sable Resources (TSX.V: SAE)
(the "Company" or "Sable") is pleased to provide an update on the
first round of exploration drilling at its Vinata project in
Mexico and about the status of
drilling permits for its projects in Argentina and Peru.
Sable completed 1753m of
core-drilling in six drillholes at Vinata North, geochemical
results for 530 samples have been received from the first five
drillholes. Based on the available results and the presence of
compelling geophysical anomalies, the company has opted to increase
the drilling program from 2000m to
4000m.
Surface sampling over Vinata
Norte only returned a couple of values over 100 ppb Au
associated to As, Sb, and Hg anomalies on silica-carbonate veins.
The available drilling data shows that the mentioned
silica-carbonate veins represent a late epithermal pulse that
overprints a gently west- dipping pervasive argillic alteration,
constrained to a layer of felsic volcanic rocks, which returned
long intersects of low-grade gold anomalous values, with most of
the samples consistently over the detection limit. From the 254
samples taken on the altered felsic volcanic rocks, 187 samples
present anomalous values varying between 20 ppb and 1.1 g/t Au with
an average value of 130 ppb Au with associated significant As, Sb
anomalies and some erratic Hg, Mo, Mn, and Ba anomalies.
The low-grade gold argillic stratabound alteration is open in
every direction except toward the East. Additional drilling will
define the limits, geometry, and gold grade distribution of the
argillic alteration. The additional drilling will also test
the existence of a high-grade feeder with more classic epithermal
boiling textures and dominated by illite, sericite, and adularia
alteration. Additionally, some of the drilling will test a couple
of compelling MAG and CSAMT geophysical anomalies located below
quaternary gravels at Vinata North and Vinata South target zones. Drilling has resumed
and will continue over the next few months.
"The presence of this large halo of argillic alteration with
anomalous gold values intercepted in several of our drillholes
strongly suggests that Vinata is a robust epithermal system that
deserves further drilling to understand it properly and to search
for the possible occurrence of the actual feeder of the system."
commented Ruben Padilla, Sable's VP
of Exploration
Highlights
MX-VIN-DDH-19-01
0.28 g/t Au over 51.3m from 46.0 to 97.3m
Including
0.44 g/t Au over 30.3m from 49.0 to
79.3m
MX-VIN-DDH-19-02
No significant intercepts
MX-VIN-DDH-19-03
0.079 g/t Au over 61.8m from 6.85 to 68.65m
Including
0.24 g/t Au over 12.4m from 6.85 to
19.25m
MX-VIN-DDH-19-04
0.063 g/t Au over 198.25m from 0 to 198.25m
Including
0.24 g/t Au over 8.9m from 43.8 to
52.7m
And
0.11 g/t Au over 22.1m from 79.9 to
102.0m
MX-VIN-DDH-19-05
0.035 g/t Au over 30.45m from 154.05 to 184.5m
Intercepts are considered to be true width for holes 1 and 5;
60% of true width for hole 3 and still unknown for hole 4. Maps
with drillholes location, section and tables with the details of
highlighted results are available on Sable's website
(sableresources.com).
Sable Receives Drill Permits for Argentina and Peru
The company has received drilling permits for six new targets
discovered during the last field season at its Don Julio Cluster
Project in Argentina. Lodo,
Colorado and San Gabriel are multi-kilometer outcropping
epithermal vein systems, Tocota and La
Gringa are porphyry gold copper targets and Fermin is a
polymetallic skarn which has been mapped for over 1.2 km (See press
release from June 20th,
2019 at sableresources.com). Field work at the Don Julio cluster of
targets resumed last November including ground geophysics,
additional mapping and sampling, and construction of road access to
proposed drill sites. In addition, Sable has also initiated the
first field evaluation of pending anomalies outside the Don Julio
cluster.
The company is also pleased to announce that it has been granted
a permit by the community of Huancasancos near its Scorpius project
in Ayacucho, Peru and that it has
received the government approval for the environmental impact
assessment for Scorpius. This high sulphidation gold system is
scheduled to have all drill permits ready by the end of the second
quarter of 2020.
ABOUT THE VINATA PROJECT
The Vinata project is located in the Municipality of Chihuahua,
State of Chihuahua, Mexico, 50 km
south of the city of Chihuahua. The Vinata Project is located along
possible extensions of known important mineral belts of northern
Mexico including base metal CRD
deposits as Santa Eulalia (50km NE
of Vinata) and Naica (75km SE of
Vinata), and the polymetallic vein system of the new discovery of
Sunshine Silver Corp.'s Los Gatos Project, located 75 km SW of
Vinata.
The mineralization at Vinata occurs as a series of quartz veins
that outcrop along a strike length of 1,150m cutting rhyolite tuffs that overlie
Cretaceous limestone. Identified via stream sediment follow up, the
system consists of outcropping veins for approximately 1.2km.
Quartz vein float extends additional 450m to the southeast and for more than
1000m toward the NW. The system
consists of multiple sub-parallel veins and stockwork zones with
epithermal textures over a width of between 15m and 170m.
Individual veins vary in width from <1m up to about 12m.
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. Sable's main focus is developing its large
portfolio of new greenfields projects to resource stage utilizing
their Upper Level Epithermal Strategy. Sable is actively exploring
the San Juan Regional Program (58,000ha) incorporating the Don
Julio Project in San Juan Province, Argentina; the Mexico
Regional Program (1.16Mha in application, 39,000ha titled)
incorporating the Margarita, Vinata and El Escarpe projects; and
the Scorpius Project in Ayacucho, Peru.
Sample Preparation and QAQC
Sample preparation for the Vinata Project was carried out by ALS
Chemex de Mexico S.A. de C.V., a subsidiary of ALS Minerals, at
their laboratory in Chihuahua,
Mexico. Analyses were carried out at their laboratory in
North Vancouver, British Columbia,
Canada. Sample preparation was by 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).
Gold was analyzed by fire assay of a 30 g sample split with
detection by inductively coupled plasma atomic emission
spectrometer (ICP-AES); multi-elements were analyzed by an aqua
regia digestion of a 1 gram sub-sample with detection by
inductively coupled plasma atomic emission spectrometer (ICP-AES)
for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe,
Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti,
Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion
method dissolves 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.
Qualified Person
Luis Arteaga M.Sc. P.Geo.
Exploration Manager for Sable Resources and the Company's Qualified
Person as defined by NI 43-101 has reviewed and approved the
technical information in this news release.
We seek safe harbor
SOURCE Sable Resources Ltd.