VANCOUVER, BC, Oct. 12,
2022 /CNW/ - Sable Resources Ltd. ("Sable" or the
"Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce the
Company's planned exploration activities covering multiple
projects in the well-endowed Miocene porphyry belt of San
Juan, Argentina.
Summary
- Exploration program will commence in October 2022 and will continue through
May 2023
- 8,000 metres of drilling, expandable up to 10,000 metres,
distributed between four porphyry targets identified in the
2021/2022 exploration program
- Well-funded with C$17
million in cash as of September 30, 2022
- Planned exploration activities are projected to cost
C$7.7 million, of which C$4.7 million has been committed by South32 as
part of the continuing Don Julio Project Earn-in Agreement (see
January 28, 2021 press release)
Dr. Ruben Padilla, President and
CEO of Sable commented, "We are continuing our
systematic exploration approach, focusing on large Cu-Au-Mo
porphyry systems in the well-endowed region of the Andes.
The exploration program is designed to vector into the
key signatures for the large porphryries identified by Sable in our
recent exploration program with results announced on Don Julio in
September and included for El Fierro and La Poncha in this press
release. Sable is fortunate to have a pipeline of multiple
targets and a large land package and the ability to drill at least
four targets per year whilst maintaining a strong financial
position."
Don Julio Project, San Juan
Argentina
The Don Julio project comprises 69,350 hectares including
the Don Julio Cluster that contains several Cu-Au and Cu-Mo-Au
porphyries, Au-Ag epithermal, and polymetallic skarn targets.
The mineralization identified at the Don Julio Cluster is part of
the Miocene Andean mineral belt that hosts world class
Cu-Mo-Au porphyry deposits south of Don Julio and Au-Ag high
sulfidation deposits to the north. Phase 2 drilling will
start on the first week of November at La Gringa target moving
later to the Punta Cana target.
Mapping and target definition work will be conducted at the Tocota
Au-Cu porphyry target to prepare it for drilling next season. At La
Gringa Cu-Mo-Au porphyry target, the results from the last season's
drilling along with new geophysical data indicate potential to find
the concealed causative porphyry centre towards the west underneath
Quaternary gravels. At the Punta Cana Cu-Au porphyry target,
additional drilling is planned to follow up on the encouraging
results of hole DJ-DH-22-08 that reported 403.0m of 0.27 g/t AuEq (see September 6, 2022 press release). The Tocota
target comprises an area of at least 1.2 by 0.6km where diorite
intrusives with porphyry style veinlets have returned values up to
0.3% Cu and 0.3 g/t Au. Exploration work at Tocota this field
season will focus on mapping, talus-rock-soil sampling, and
possible ground geophysics to define the drill target.
El Fierro, San Juan
Argentina
El Fierro, a 58,510 hectare property is located 120 kilometres
south of the Filo del Sol – Jose
Maria porphyry deposits in similar age rocks. Sable's
first round of drilling started in February
2021 (3,278 m) and second
round was completed in May 2022
(12,006 m) for a total of
15,284 m. In 2021,
drilling focused on vein targets (9,700
m), however with porphyry style mineralization recognized in
December 2021, 5,584 m of scout drilling was completed on the
newly recognized Pyros porphyry target. In only one and a
half years of exploration at El Fierro, Sable has defined a 10 x 10
km mineralization footprint composed by Cu-Au-Mo porphyry
mineralization and an external halo of polymetallic sub-epithermal
veins; all the mineral system is associated to a large Miocene (20
Ma) intrusive – caldera complex.
The Pyros target is represented by a 2,500 x 1,400 m zone of sericitic alteration overprinting
early quartz veins, where soil geochemistry identified a core
Mo-Cu-Au-Bi-Te soil anomaly surrounded by a Mn-Zn-Pb halo. The
first round of drilling completed last May only tested around 20%
of the anomalous alteration zone. Drilling results identified
different porphyry phases with potassic and sericitic alteration
intruding Permian granites. The first campaign of drilling proved
the Cu-Mo-Au affinity of the porphyry system at Pyros reporting
119 m @ 0.22 % CuEq, including
34.0m @ 0.34% CuEq (FZ-DH-22-68),
30.3m @ 0,44% CuEq (FZ-DH-22-72),
38.0m @ 0.27% CuEq (FZ-DH-22-84), and
200m @ 0.14% CuEq (FZ-DH-21-55). One
hole was drilled on the margin of the Antenna Hill target,
represented by Au-Cu-Ag anomalies associated to breccias and ~20 Ma
dioritic intrusions hosted by Paleozoic basement along faults
related to the eastern limit of the Miocene volcanic caldera. The
recognizing hole completed at Antenna Hill reported various
Au-Cu-Ag anomalous intercepts including 8.75
m @ 1.20 g/t AuEq. Detailed highlighted values are presented
in Table 1.
The upcoming field season work will be focused on follow up of
extensive surface geochemical anomalies and alteration zones
coincident with magnetic and IP anomalies to select areas to be
drill tested at Pyros and Antenna Hill targets. A second
round of drilling at Pyros and Antenna Hill will be initiated in
January 2023 with district mapping -
prospection work commencing in October
2022.
Poncha, San Juan
Argentina
The 34,937 hectare Poncha property contains two Miocene porphyry
targets and various alteration zones that require first-pass
exploration work. Last May, Sable completed 2,216 m of drilling at the Poncha North target
represented by an outcropping Miocene Au-Cu porphyry centre,
intruding a larger inter-mineral diatreme. Drill results showed the
gold affinity of the porphyry system reporting 263 m @ 0.29 g/t AuEq (PON-DH-22-02), and
101 m @ 0.32 g/t AuEq (PON-DH-22-01),
as well as many other significant intercepts disclosed in Table 1.
Intermediate sulfidation mineralization with anomalous Ag-Pb-Zn-Cu
was intercepted in holes PON-DH-22-03 and PON-DH-22-06. During the
upcoming field season exploration work at Poncha will consist of
local and regional mapping and prospection to define additional
drill targets.
Webinar
Sable's President and CEO, Ruben
Padilla, will be providing an exploration update discussing
results from the 2021/2022 exploration season and discussion on the
upcoming exploration program. The webinar, hosted by
Adelaide Capital, is scheduled for Thursday,
October 13, 2022 at 4:15pm
EST. Register at the following link -
https://us02web.zoom.us/webinar/register/WN_CkwoEltMSi-3aJDjO9b-1g.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the
discovery of Tier-One new precious metal and copper 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 (163,969 ha) incorporating the Don Julio, El Fierro, La
Poncha, and Los Pumas Projects in the 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.
Table 1 - Significant
Intercepts for Reported Holes
|
Hole
|
From (m)
|
To (m)
|
Interval (m)
|
Ag (g/t)
|
Au (g/t)
|
Cu (%)
|
Mo (ppm)
|
Pb (%)
|
Zn (%)
|
CuEq (%)
|
AuEq (g/t)
|
AgEq (g/t)
|
El Fierro
|
FZ-DH-21-55
|
35.50
|
235.50
|
200.00
|
|
0.03
|
0.086
|
104
|
|
|
0.14
|
|
|
Including
|
35.50
|
120.50
|
85.00
|
|
0.03
|
0.12
|
125
|
|
|
0.18
|
|
|
FZ-DH-22-68
|
12.00
|
131.00
|
119.00
|
|
0.084
|
0.13
|
78
|
|
|
0.22
|
|
|
Including
|
12.00
|
46.00
|
34.00
|
|
0.14
|
0.18
|
143
|
|
|
0.34
|
|
|
FZ-DH-22-72
|
21.00
|
163.00
|
142.00
|
|
0.11
|
0.14
|
73
|
|
|
0.24
|
|
|
Including
|
21.00
|
51.30
|
30.3
|
|
0.18
|
0.26
|
121
|
|
|
0.44
|
|
|
FZ-DH-22-78
|
106.00
|
124.00
|
18.00
|
|
0.10
|
0.22
|
70
|
|
|
0.32
|
|
|
FZ-DH-22-78
|
140.00
|
151.00
|
11.00
|
|
0.084
|
0.14
|
97
|
|
|
0.23
|
|
|
FZ-DH-22-78
|
160.00
|
165.80
|
5.80
|
|
0.16
|
0.20
|
107
|
|
|
0.36
|
|
|
FZ-DH-22-78
|
238.00
|
250.00
|
12.00
|
|
|
0.11
|
76
|
|
|
0.14
|
|
|
FZ-DH-22-78
|
278.50
|
283.65
|
5.15
|
|
|
0.11
|
51
|
|
|
0.12
|
|
|
FZ-DH-22-78
|
287.00
|
297.45
|
8.45
|
|
|
0.12
|
|
|
|
0.12
|
|
|
FZ-DH-22-84
|
103.00
|
117.00
|
14.00
|
|
|
0.12
|
|
|
|
0.12
|
|
|
FZ-DH-22-84
|
127.00
|
131.00
|
4.00
|
|
0.083
|
0.20
|
95
|
|
|
0.23
|
|
|
FZ-DH-22-84
|
160.00
|
168.00
|
8.00
|
|
0.10
|
0.17
|
|
|
|
0.24
|
|
|
FZ-DH-22-84
|
277.00
|
307.00
|
30.00
|
|
|
0.12
|
77
|
|
|
0.15
|
|
|
FZ-DH-22-84
|
331.00
|
369.00
|
38.00
|
|
0.12
|
0.15
|
81
|
|
|
0.27
|
|
|
ANT-DH-22-89
|
60
|
62
|
2
|
28.5
|
0.343
|
0.998
|
|
|
|
1.50
|
2.05
|
|
ANT-DH-22-89
|
67.75
|
68.25
|
0.5
|
62.4
|
1.375
|
1.08
|
|
|
|
2.63
|
3.61
|
|
ANT-DH-22-89
|
60
|
68.75
|
8.75
|
18.24
|
0.21
|
0.56
|
|
|
|
0.88
|
1.20
|
|
ANT-DH-22-89
|
178.2
|
178.7
|
0.5
|
|
0.515
|
|
|
|
|
0.37
|
0.52
|
|
ANT-DH-22-89
|
205.3
|
205.75
|
0.45
|
20.9
|
0.249
|
0.518
|
|
|
|
0.88
|
1.21
|
|
ANT-DH-22-89
|
266.75
|
267.25
|
0.5
|
5.61
|
0.312
|
0.197
|
|
|
|
0.47
|
0.65
|
|
ANT-DH-22-89
|
315.6
|
316.3
|
0.7
|
4.52
|
0.134
|
0.15
|
|
|
|
0.29
|
0.39
|
|
ANT-DH-22-89
|
351.4
|
351.9
|
0.5
|
6.21
|
0.222
|
0.129
|
|
|
|
0.35
|
0.47
|
|
ANT-DH-22-89
|
382.5
|
383.1
|
0.6
|
6.3
|
0.132
|
0.312
|
|
|
|
0.46
|
0.64
|
|
ANT-DH-22-89
|
508.1
|
508.6
|
0.5
|
2.27
|
0.287
|
|
|
|
|
0.23
|
0.31
|
|
ANT-DH-22-89
|
523.4
|
524
|
0.6
|
1.24
|
0.235
|
|
|
|
|
0.18
|
0.25
|
|
ANT-DH-22-89
|
527
|
528.7
|
1.7
|
1.6
|
0.614
|
|
|
|
|
0.46
|
0.63
|
|
ANT-DH-22-89
|
531.75
|
533.8
|
2.05
|
1.62
|
0.31
|
|
|
|
|
0.24
|
0.33
|
|
ANT-DH-22-89
|
541.5
|
542.5
|
1
|
5.71
|
0.097
|
0.259
|
|
|
|
0.38
|
0.52
|
|
La Poncha
|
PON-DH-22-01
|
81.00
|
113.00
|
32.00
|
|
0.20
|
0.10
|
|
|
|
|
0.33
|
|
Including
|
81.00
|
89.00
|
8.00
|
|
0.22
|
0.13
|
|
|
|
|
0.39
|
|
And
|
101.00
|
110.20
|
9.20
|
|
0.28
|
0.12
|
|
|
|
|
0.44
|
|
PON-DH-22-01
|
123.00
|
224.00
|
101.00
|
|
0.19
|
0.096
|
|
|
|
|
0.32
|
|
Including
|
143.00
|
153.00
|
10.00
|
|
0.28
|
0.15
|
|
|
|
|
0.48
|
|
And
|
173.00
|
191.00
|
18.00
|
|
0.23
|
0.12
|
|
|
|
|
0.40
|
|
PON-DH-22-01
|
256.00
|
371.00
|
115.00
|
|
0.19
|
0.096
|
|
|
|
|
0.32
|
|
Including
|
256.00
|
297.00
|
41.00
|
|
0.24
|
0.12
|
|
|
|
|
0.41
|
|
PON-DH-22-01
|
375.00
|
424.55
|
49.55
|
|
0.18
|
0.083
|
|
|
|
|
0.30
|
|
PON-DH-22-02
|
21.00
|
284.00
|
263.00
|
|
0.18
|
0.082
|
|
|
|
|
0.29
|
|
Including
|
23.00
|
57.00
|
34.00
|
|
0.26
|
0.076
|
|
|
|
|
0.37
|
|
And
|
161.00
|
171.00
|
10.00
|
|
0.43
|
0.17
|
|
|
|
|
0.67
|
|
And
|
240.50
|
258.00
|
17.50
|
|
0.22
|
0.13
|
|
|
|
|
0.40
|
|
PON-DH-22-02
|
423.25
|
514.00
|
90.75
|
|
0.14
|
0.094
|
|
|
|
|
0.27
|
|
Including
|
423.25
|
432.40
|
9.15
|
|
0.27
|
0.15
|
|
|
|
|
0.47
|
|
And
|
448.00
|
460.00
|
12.00
|
|
0.22
|
0.12
|
|
|
|
|
0.39
|
|
And
|
490.00
|
514.00
|
24.00
|
|
0.12
|
0.088
|
|
|
|
|
0.24
|
|
PON-DH-22-03
|
3.00
|
294.90
|
291.90
|
|
0.14
|
0.048
|
|
|
|
|
0.14
|
|
Including
|
23.00
|
61.40
|
38.40
|
|
0.24
|
0.074
|
|
|
0.21
|
|
0.24
|
|
Including
|
33.00
|
44.00
|
11.00
|
|
0.43
|
0.081
|
|
0.12
|
0.36
|
|
0.43
|
|
Including
|
175.00
|
195.00
|
20.00
|
|
0.16
|
0.052
|
|
|
|
|
0.16
|
|
Including
|
231.60
|
283.40
|
51.80
|
|
0.16
|
0.068
|
|
|
|
|
0.16
|
|
PON-DH-22-04
|
32.00
|
45.10
|
13.10
|
|
0.24
|
|
|
|
|
|
|
|
PON-DH-22-06
|
22.00
|
49.00
|
27.00
|
2.0
|
0.16
|
|
|
|
0.16
|
|
0.26
|
|
PON-DH-22-06
|
66.20
|
129.00
|
62.80
|
|
0.17
|
|
65
|
|
|
|
0.20
|
|
PON-DH-22-06
|
135.55
|
136.20
|
0.65
|
287
|
0.19
|
0.76
|
|
12.00
|
3.78
|
|
|
936.5
|
PON-DH-22-06
|
188.00
|
207.00
|
19.00
|
|
0.18
|
|
|
|
|
|
0.18
|
|
Table 2 – Location
of reported holes from Don Julio, El Fierro, La
Poncha
|
Hole
number
|
Azimuth
|
Dip
|
Depth
|
North
|
East
|
Elevation
|
El
Fierro
|
FZ-DH-21-55
|
240
|
45
|
295.5
|
6741003
|
2455277
|
4231
|
FZ-DH-22-68
|
100
|
60
|
350
|
6740704
|
2454816
|
4268
|
FZ-DH-22-72
|
280
|
60
|
401
|
6740703
|
2454825
|
4268
|
FZ-DH-22-74
|
280
|
65
|
450
|
6740621
|
2455163
|
4290
|
FZ-DH-22-76
|
280
|
60
|
300
|
6740562
|
2455455
|
4304
|
FZ-DH-22-78
|
280
|
60
|
401
|
6740583
|
2455319
|
4286
|
FZ-DH-22-80
|
280
|
60
|
401
|
6740164
|
2454834
|
4418
|
FZ-DH-22-83
|
280
|
60
|
401
|
6740124
|
2455028
|
4382
|
FZ-DH-22-84
|
100
|
60
|
400
|
6740446
|
2455023
|
4325
|
FZ-DH-22-85
|
0
|
90
|
400
|
6739789
|
2454561
|
4576
|
FZ-DH-22-86
|
280
|
75
|
15.5
|
6740921
|
2455068
|
4254
|
FZ-DH-22-87
|
0
|
90
|
219
|
6742409
|
2455696
|
3994
|
FZ-DH-22-88
|
0
|
90
|
599
|
6740658
|
2454969
|
4292
|
FZ-DH-22-90
|
280
|
60
|
400
|
6740721
|
2454674
|
4287
|
ANT-DH-22-89
|
270
|
65
|
551
|
6743887
|
2455448
|
4266
|
La
Poncha
|
PON-DH-22-01
|
310
|
50
|
501
|
6695007
|
2444741
|
4889
|
PON-DH-22-02
|
170
|
60
|
600
|
6695271
|
2444581
|
4552
|
PON-DH-22-03
|
130
|
50
|
294.9
|
6695255
|
2444666
|
4536
|
PON-DH-22-04
|
130
|
80
|
250
|
6695088
|
2444949
|
4466
|
PON-DH-22-05
|
310
|
50
|
262.4
|
6694887
|
2445134
|
4393
|
PON-DH-22-06
|
300
|
50
|
308
|
6694914
|
2444643
|
4478
|
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). The holes contained in this
press release were analyzed by methods Au-AA24 (Fire Assay Fusion
and Atomic Absorption Spectrometry finish) and ME-MS61 (Four Acid
Digestion with Mass Spectrometry finish); the latter one includes
48 elements (Al, Ag, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu,
Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb,
Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr).
Both digestion methods dissolve 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., 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.