VANCOUVER, BC, Feb. 9, 2021
/CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV:
SAE) (OTCQB: SBLRF) is pleased to announce that it has started its
drilling campaign at El Fierro Project in San Juan, Argentina. El Fierro is a historical
artisanal silver-rich polymetallic vein mining district located 250
km northwest of San Juan city and 120 km from Sable's Don Julio
Project. Sable will be the first company to drill the project.
"We are very excited to be the first company to drill such a
high-quality asset as El Fierro, and to start our program on time
and within budget. We are looking forward to seeing the core
come out of the ground and to start confirming the
three-dimensional footprint of high grade zones," stated
Ruben Padilla, President and CEO,
who added, "Mapping, prospecting, and geophysics continues to
advance at the property and we will provide updates on results when
available over the coming weeks."
The El Fierro drill program will consist of a first phase of
3,000m, in 21 planned drill holes
across three target areas – Fierro
Bajo, Fierro Alto and La Verde. Sable plans to expand
the program a further 2,000m for a
total of 5,000m based on results from
the first phase and following the incorporation of pending surface
samples geochemical analysis from soils, outcrops, and new
trenching. The drill program will test grade continuity and vein
thickness at depth and along strike extensions of the high grade
vein targets at the three known mineralized zones of the project
which combined represent over 5.5 km of outcropping and
sub-cropping veins within an area of 8 x 4 km.
The first area to be tested will be Fierro Bajo with 10 shallow holes (1,400m) targeting four mineralized structures
between 50 to 100m downdip (see
Figure 1). Fierro Bajo consists of
at least four silver-rich veins that returned values of up to
17,531 g/t AgEq (12,181 g/t Ag; 5.67% Pb; 1.6% Cu; and 0.2%Zn Grab
Sample).
At Fierro Alto, six drill holes (totalling 900m) are planned to test the main structures (F
and G veins) over a strike length of 600m at depths between 50 and 100m downdip (see Figure 2). Structures at
Fierro Alto returned values as high as 1,946.50 g/t AgEq (1,070 g/t
Ag; 20% Pb; 0.38 g/t Au; 1.003% Zn; and 1.33% Cu. 0.25m Channel Sample).
Finally, at La Verde the Company will drill seven short holes
(totalling 700m) testing the
mineralization to 50m depth on the
three veins that are currently known (see Figure 3). La Verde
samples have returned some of the highest grades within the
project, with values up to 2.582 g/t AgEq (784g/t Ag; 16.7 g/t Au;
3.42% Pb; 0.3% Zn; and 0.3% Cu. Grab Sample).
The Company notes that selected grab samples noted above are not
necessarily representative of the mineralization hosted at El
Fierro. Channel samples are always taken perpendicular to
structures and therefore represent true width. Maps associated with
this press release will be available on Sable's website
(www.sableresources.com). Silver equivalent (AgEq) is
calculated based on 100% recovery and prices of USD
17.89 per oz for silver; USD 1,500 per oz for
gold; USD 0.86 per pound for lead; USD 1.08 per
pound for zinc; and USD 2.80 per pound for copper.
Figure 1. Proposed drill hole locations for El Fierro
Bajo
Figure 2. Proposed drill hole locations for El Fierro
Alto
Figure 3. Proposed drill hole locations for La Verde
zone
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, February 11,
2021. To register, please click on the following link -
https://zoom.us/webinar/register/WN_URz_XUmoQQ-ldqzArzFYjg.
ABOUT EL FIERRO PROJECT
The El Fierro Project is located 250 km northwest of San Juan,
Argentina and 120 km north of
Sable's Don Julio Project in one of the best-known historical
mining districts in the San Juan province. The El Fierro
Project consists of three main known mineralized areas - Fierro
Alto, Fierro Bajo, and La Verde over
an area of 8km x 4km. The three areas host a number of old
artisanal mining workings where silver, lead and zinc were
intermittently mined since the late 1800's until the 1960s decade;
the property has never been drilled. Sable currently controls
46,391 hectares covering all the historically mineralized areas and
additional highly prospective ground over a large magnetic
anomaly.
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 (109,055 ha)
incorporating the Don Julio, El Fierro, and los Pumas Projects in
San Juan Province, Argentina; and
the Mexico Regional Program (1.16Mha in application, 39,000ha
titled) incorporating the Vinata and El Escarpe projects.
Related link: sableresources.com
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.
SAMPLE PREPARATION AND QA/QC
Sample preparation for projects in Argentina is carried out by ALS Chemex
Argentina, a subsidiary of ALS Minerals, at its facility located in
Mendoza, Argentina. Analyses are
carried out at their laboratory in Lima,
Peru. Sample preparation includes 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. Over limit Ag,
Cu, Pb, Zn OG46 analyses are conducted when samples exceed the
upper detection limits; this method includes Aqua Regia digestion
and ICP-AES finish. Method Ag-GRA21 which includes Fire Assay with
gravimetric finish is applied when Ag exceeds 1500 g/t. 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., 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.