VANCOUVER, BC, Sept. 20, 2021 /CNW/ - Sable Resources Ltd.
("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to
present the Company's planned exploration activities covering
multiple projects located in the well-endowed Miocene Mineral Belt
of San Juan in Argentina (see
figure 1 on page 3) and along the Central Mexico Silver Mineral
Belt. The planned exploration program will be undertaken
commencing September 2021 through
May 2022, covering the South American
spring and summer field seasons. Sable is planning on conducting a
total of 25,000 metres of drilling on three projects. The Company
is well-funded with approximately C$28.5
million in cash and investments as of June 30, 2021. The planned exploration
activities will cost an estimated C$15.9
million, leaving Sable in a strong cash position at the end
of May 2022. South32 will fully fund
all work within the current joint venture area that is covered by
the Earn-in Agreement signed between the Company and South32
earlier this year (see press release dated January 28, 2021).
"Sable's systematic exploration approach is moving
into a very active stage of drilling while keeping its
target generation capacity intact and maintaining a
strong financial position," stated Dr. Ruben Padilla, Sable's
President and CEO who added, "When the rigs are turning
in three different high-quality projects a big discovery
can happen. The next 10 months could be game changer
for Sable."
El Fierro Project, San Juan Argentina
Sable has identified a large vein field over an 8.5 by 6.5
kilometre area with 14.5 linear kilometres of epithermal veins in
four mineralized centers including: Fierro
Bajo, Fierro Alto, La Verde,
and Lagunitas. Reconnaissance sampling was highlighted by multiple
silver equivalent samples of over 1,000 g/t. Drilling commenced in
February 2021 returning multiple
high-grade intercepts including 4,381 g/t AgEq over 0.5m within 546.78 g/t AgEq over 9.95 m from one of the first drill holes ever
drilled at the project.
Work planned for the 2021-2022 field season will consist of a
second round of drilling of up to 15,000 metres to define the size
potential of the deposit and prioritize veins for resource
drilling. District reconnaissance work will continue in parallel
with the drilling including geophysics, trenching, mapping, and
sampling.
La Poncha Project, San Juan Argentina
La Poncha represents a cluster of porphyry - epithermal centers
along the Miocene mineral belt that hosts the Filo del Sol deposit,
that recently reported an intercept of 858m with 1.8% CuEq (See Filo Mining press
release dated May 13, 2021). During
the upcoming field season, Sable plans to conduct approximately
5,000 metres of drilling targeting two recently identified
gold-copper porphyry bulk-tonnage targets. Additional target
generation work will also be completed in conjunction with this
program.
Sable – South32 JV, San Juan Argentina
Further to the Earn-in Agreement with South32 to jointly explore
the 69,350 hectare land package including the Don Julio cluster
area, the Los Pumas Project and numerous early-stage regional
targets, significant exploration work that is 100% funded by
South32 will be undertaken in the 2021–2022 field season as
outlined below.
Don Julio
Cluster
The Don Julio project area contains several targets including
Cu-Au porphyry, Au-Ag epithermal, and polymetallic skarn targets
generated from detailed mapping and geochemistry work over a period
of two and a half years. Earlier this year, Sable
completed a 400 km UAV Magnetic survey, detailed structural mapping
of the Fermin skarn target, reinterpretation of historical
geophysics at the Heaven Hill area, and re-evaluation of other
historical data.
Field work planned for the upcoming field season includes
geophysics, mapping, sampling, and construction of additional
access roads, all in preparation for an approximate 5,000 metre
drill program expected to start in January
2022.
Los Pumas Project
In January 2021, Sable released
geochemical results from the Los Pumas Project located 21 km south
of the Don Julio project. Los Pumas was discovered following
up on a large ASTER anomaly where alteration and mineralization was
found returning values of up to 103 g/t Au; 2,650 g/t Ag; and 2.9%
Cu on multiple clusters over an area of 6 by 4 kilometres.
Field work planned for the upcoming season will include
construction of an access road, trenching, and additional
mapping.
Regional Targets
Sable and South32 are engaged on the first pass regional
exploration of its large land package outside the Don Julio cluster
area. This regional exploration work has identified the Los Pumas
(described above) and multiple other targets. Initial
reconnaissance work was conducted at Los Patos and San Francisco regional targets in the first
quarter 2021 and will continue during the upcoming field
season.
Mexico Regional Target Generation
The Company will continue advancing exploration activities with
the follow-up of stream sediment anomalies within its ground to
generate new targets. Sable has 26,373 hectares in mineral titles
and 1.16 million hectares in mineral applications along the world's
richest silver mineral belt located in central Mexico.
Sable is providing an opportunity for shareholders and other
interested parties to participate in a Webinar to be held at 4 pm
ET on Thursday, September 23,
2021. To register, please click on the following link -
https://us06web.zoom.us/webinar/register/WN_AhQ5ktn7TEKUs9ifOba-NA.
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 level. Sable is
actively exploring the San Juan Regional Program (151,850 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, 26,373ha titled) incorporating the Vinata
and El Escarpe projects.
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.
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.
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.
