VANCOUVER, BC, Oct. 14, 2021 /CNW/ - Sable Resources Ltd.
("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to
report that it has initiated exploration activities at all of its
projects in San Juan, Argentina.
At the El Fierro Project, the Company plans to undertake
a second phase of drilling and will continue district exploration
work in the El Fierro large and prospective land package. The
camp is now fully functional and the geology team has initiated
mapping and prospecting activities. Quantec Argentina has
already acquired around 30% of a 900 line kilometre Ground
Magnetics survey to expand the 264 line kilometres acquired last
season. The construction of roads and drill pads is quickly
advancing and drilling is expected to start in few days.
Sable has engaged two rigs from Foraco Argentina for this
drill campaign.
At the Don Julio Project, the Company is finalizing drill
preparations to initiate drilling on bulk-tonnage porphyry – skarn
targets. Installation of the Don Julio camp has been
completed and road maintenance is scheduled to begin immediately.
Sable's geologists will initiate mapping next week and by the end
of October Quantec Argentina will begin a 180 line kilometre Ground
Magnetics survey that will complement the 400 line kilometre UAV
Magnetics survey completed last season. Sable has signed a
contract with EcoMinera drilling for the drilling of Don Julio
Project scheduled to begin in January
2022. Exploration work at Don Julio is fully funded by
Sable's joint venture partner South32.
At the Los Pumas Project, ongoing field work following up
on the large number of high-grade sub outcrops discovered during
the last field season will define drill targets. A small camp
has been built at Los Pumas Project and mapping and trenching has
already begun. Trenching will be conducted in all the Au-Ag-Cu
anomalous zones discovered in the project over an area of 6
kilometres by 4 kilometres. Exploration work at Los Pumas is fully
funded by South 32, Sable's joint venture partner.
At the La Poncha Project, the Company's activities this
field season are focused on finalizing drill preparation and
initiation of drilling the two known Gold-Copper porphyry
bulk-tonnage targets. Road maintenance is underway
between the village of Colanguil and La Poncha Project to allow for
the construction of the camp which is scheduled for completion by
the end of October. Drilling at La Poncha is expected to
start by the end of November. ConoSur Drilling has been
engaged for the drilling of La Poncha Project this season.
Dr. Ruben Padilla, Chief
Executive Officer of Sable commented, "We're extremely excited to
initiate work at our four projects in San Juan. This will be a very
active summer season for Sable with an aggressive campaign of
25,000 metres of drilling distributed in three projects."
The Company also reports that it has granted an aggregate of
4,250,000 options to purchase common shares of the Company to
directors, officers, employees and consultants in accordance with
the Company's stock option plan. The options granted are
exercisable at $0.25 for a period of five years.
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, 39,000ha 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.
