Sable Resources Ltd. ("Sable" or the "Company") (TSXV:SAE |
OTCQB:SBLRF) is pleased to announce the commencement of field
activities at the Don Julio Project in San Juan, Argentina (“Don
Julio” or the “Project”). All exploration expenditures at Don Julio
are fully funded under the Earn-In Agreement between the Company
and a subsidiary of South32 Limited (“South32”), signed in 2021.
Highlights
- US$2 million budget approved for
the 2024 - 2025 field season at the Don Julio Project
- An 18km Induced Polarization (IP)
survey will be conducted at the Colorado target commencing the week
of October 25th
- 2,000m of diamond drilling is
planned to commence the first week of November at the Morro and
Colorado targets
- Morro: The Morro
target is located along a principle fault corridor with coincident
molybdenum anomalism, low resistivity, and moderate magnetic
anomalies, in an area where the roof of the Au-Cu-bearing lithocap
contains hydrothermal breccias with fragments cut by early quartz
veinlets and the presence of widespread sericitic alteration. B
type porphyry veinlets were intercepted below the lithocap
alteration in a drill hole completed in 2023 at the Poposa target,
650 south of Morro (Fig. 1).
- Cerro Colorado:
The Cerro Colorado target is a strong, dome-shaped IP anomaly
covered by Quaternary gravels at 4,100 m.a.s.l. The IP anomaly
seems to relate to the previously outlined Colorado breccia, a
magmatic-hydrothermal breccia outcropping at 4,900 m.a.s.l. The
breccia contains mineralized porphyry fragments, strongly affected
by advanced argillic alteration, with anomalous geochemical values
up to 3.9% Cu and 13 g/t Au (Fig. 2).
Dr. Ruben Padilla, Sable’s President, and CEO,
stated, “The Company is pleased to start another field season at
Don Julio with the financial and technical support of our
exploration partner South32. We have engaged Quantec Geoscience for
the IP survey planned at Colorado, which will better define the
shape of the chargeability anomaly defined a year ago, and
investigate its possible connection with the mineralized breccia
that outcrops on Cerro Colorado. ConoSur Drilling will commence
drilling at Morro, where various vectors suggest the presence of a
porphyry centre at depth below the roof of the lithocap.”
Figure 1. The location of Morro
and Colorado drill targets over all available IP data shows the new
IP lines that will cover the entire Colorado target (red
lines). The image also includes all known porphyry targets at Don
Julio (red stars), breccias and diatremes (blue stars), and main
faults (blue, white, and green lines).
Figure 2. Panoramic view and
main elements of the Colorado target. IP will be extended toward
the Colorado breccia
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, which contains numerous porphyry-style (La
Gringa, Morro-Poposa, Punta Cana, Tocota, Colorado) targets;
intermediate sulfidation (Lodo, San Gabriel, Colorado) targets and
skarn (Fermin) targets. Additionally, the regional-scale property
includes the Los Pumas project and extensive unexplored ground.
Since 2018, Sable has conducted systematic surface work including
mapping, rock sampling, talus sampling, GroundMag, UAV-Mag, and IP
geophysics. Sable performed a first drilling campaign in the 2018 -
2019 field season with 3,101m drilled in 11 holes, a second
campaign in the 2021 - 2022 field season comprising 4,294m in 9
holes, and a third campaign in the 2022 – 2023 field season. In
2021, Sable signed an Earn-In Agreement with a subsidiary of
South32 Limited to jointly explore the Don Julio project.
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 samples
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.
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 (>130,000 ha) incorporating the Don Julio,
El Fierro, and Cerro Negro projects in San Juan, Argentina.
ABOUT SOUTH32 LIMITED
South32 is a globally diversified mining and
metals company. The company’s purpose is to make a difference by
developing natural resources, improving people’s lives now and for
generations to come. South32 is trusted by its owners and partners
to realise the potential of their resources. South32 produces
commodities including bauxite, alumina, aluminium, copper, zinc,
lead, silver, nickel and manganese from its operations in
Australia, Southern Africa and South America. South32 also has a
portfolio of high-quality development projects and options, and
exploration prospects, consistent with its strategy to reshape its
portfolio towards commodities critical for a low-carbon future.
For further information, please contact:
Ruben Padilla, President & CEO at
ruben.padilla@sableresources.com or +1 (520) 488-2520
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.
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, 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.
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/90c5da4d-bc62-4504-a9fb-5dfd97c186echttps://www.globenewswire.com/NewsRoom/AttachmentNg/1a136168-4656-40ce-9c4b-0bc337198988
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