VANCOUVER, BC, March 6,
2023 /CNW/ - Sable Resources Ltd. ("Sable" or the
"Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an
update on exploration activities at the Don Julio Project in
San Juan, Argentina ("Don Julio"), including the initial
5,000m drilling program that
commenced late November and has now been expanded to 5,900m. All exploration expenditures at Don
Julio are fully funded under the Earn-In Agreement between the
Company and South32, signed in 2021.
As of the date of this press release, 2,946m of drilling has been completed in seven
holes utilizing two rigs, with 1,806 core samples having been cut
and sent to the lab. The initial work was focused on the La
Gringa target and one of the rigs has now moved to the Punta Cana target. During the last drill
season, the Company defined two new porphyry centres at La Gringa
and Punta Cana based on extensive
presence of potassic alteration, early veinlets and significant
copper, gold and molybdenum anomalies. In addition to the
ongoing drilling, the Company completed an 800 soil sample program
grid over the Punta Cana area and
is advancing access roads to the Fermin polymetallic skarn and to
the Tocota Cu-Au porphyry to prepare these two targets for the
first round of drilling.
Dr. Ruben Padilla, Sable's
President and CEO commented, "The current drill program is
advancing on time and budget with several holes showing porphyry
copper alteration and mineralization style, extending the already
large alteration footprint of the Don Julio project. We expect to
receive and release the first results of the drilling within a
couple of weeks."
Detailed analysis of last year's drilling data from the La
Gringa target, such as geochemistry, spectral data, fluid
inclusions, and geophysics has shown a mineralization vector
towards the southwest along the Chita creek valley. New surface and
drilling observations demonstrate that the porphyry-epithermal
system present at La Gringa is larger and more complex than
previously thought.
At the La Gringa zone, hole DJ-DH-22-11 followed up on biotite
alteration and porphyry style mineralization observed in holes
DJ-DH-22-07 and DJ-DH-22-09 drilled during the 2021/2022 season;
hole 11 intercepted Cu-Mo porphyry style mineralization with
results pending. Hole DJ-DH-22-09 was drilled last season to
623m and it is now being extended to
a new final depth of 1,000m. On the
western side of the main La Gringa valley, holes DJ-DH-23-12,
DJ-DH-23-13, and DJ-DH-23-14 tested the margins of a large
chargeability anomaly obtained from last year's IP survey along the
valley, assay results are also pending.
Besides the La Gringa target, hole DJ-DH-23-16 is currently
being drilled at the Punta Cana
target, 3 km south of La Gringa, where Au-Cu mineralization is
outcropping and was intercepted in hole DJ-DH-22-08 from last
season, which turned an intercept of 403m @ 0.27 g/t AuEq (see press release dated
September 6, 2022).
ABOUT THE DON JULIO
PROJECT
The Don Julio project comprises 69,350 hectares in the
Cordillera Frontal in San Juan,
Argentina. It includes the Don
Julio cluster that contains numerous targets of porphyry (La
Gringa, Poposa, Amarillo, Punta
Cana, Tocota); intermediate sulfidation (Lodo, San Gabriel,
Colorado); skarn (Fermin); and the
regional properties that include the Los Pumas project as well as
extensive unexplored ground. Since 2018, Sable has conducted
systematic surface work including mapping; rock sampling; talus
sampling; GroundMag, and UAV-Mag, and induced polarization.
Sable performed a first drilling campaign in 2019 with
3,101m drilled in 11 holes and a
second campaign in early 2022 comprising 4,294m in 9 holes. In 2021, Sable signed an
Earn-In agreement with South32 to jointly explore the Don Julio
project.
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.
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 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 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
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policies of the TSX Venture Exchange, accepts responsibility for
the adequacy or accuracy of this 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.