Don Julio Cluster

CLUSTER OF AU-CU TARGETS

  • Potential for one or more multi-million tonne Cu-Au-Mo porphyry deposits
  • Four Miocene porphyry targets – three tested in 2021-2022
  • Numerous additional targets include intermediate sulfidation veins, breccias and Zn-Pb-Cu skarn
  • All targets drill permitted
  • Currently exploring under Earn-in Agreement between Sable and South32
  • Premium location: 160 km and three hour drive from the city of San Juan
  • Part of the Miocene Andean mineral belt that hosts world class Cu-Mo-Au porphyry deposits to the south (Pachon, Los Azules) and Au-Ag high sulfidation deposits to the north (Veladero, Alturas)
  • Sable holds the rights to acquire 100% ownership of 69,350 hectares
  • Additional exploration potential out of the cluster in regional targets

    El Fierro Map

    Property Geology

    The local geology is represented by a sequence of Carboniferous metasedimentary rocks (Agua Negra Formation) that has formed the basement of two different magmatic arcs. The oldest arc (≈280Ma) is widely recognized in Argentina and Chile and includes both intrusive and volcanic rocks. The youngest arc represents Miocene subduction, and it is characterized by the presence of multiple 8 to 5 Ma intrusions and the development of a 5 km by 2 km lithocap with extensive advanced argillic alteration.

    Outside the lithocap there are three intermediate sulfidation vein targets (San Gabriel, Lodo, Colorado), and one Zn-Pb-Cu skarn (Fermin) which remains untested.

    Four Miocene porphyry targets (Gringa, Poposa, Punta Cana, and Tocota) are located within or around the lithocap area and are the current focus of the Company’s 2022-2023 exploration program that is funded through the Earn-In Agreement with South32.

    Don Julio Map

    Figure 1
    Simplified geology of Don Julio Project showing location of main targets


    During the 2021-2022 season, three out of four porphyry targets saw first round of drilling (4,294 m in nine holes); two of those targets (Punta Cana and Gringa) are included in the 2022-2023 exploration program for second round of drilling; soil sampling, mapping, and trenching will be conducted at the Tocota target for drilling next season.

    The Gringa target is located on the northern extreme of the lithocap where holes DJ-DH-22-07 and DJ-DH-22-09 successfully went from advanced argillic alteration into proximal potassic alteration with significant intercepts of Cu, Au and Mo, including 0.33% CuEq (0.16% Cu, 0.2 g/t Au, 1.5 g/t Ag) over 61.9 m; 0.39% CuEq (0.13% Cu, 0.33 g/t Au, 1.42 g/t Ag) over 10.6 m in hole DJ-DH-22-07; and 0.19% Cu over 71.5 m including 0.22% Cu over 46.0 m in hole DJ-DH-22-09.

    The encouraging Cu-Mo values and the potassic alteration are interpreted to be related to a causative porphyry stock located to the west below thin gravels.

    The second round of drilling initiated the first week of November 2022 will define the location of the porphyry centre and its potential to contain ore grade.

    Don Julio Map 2

    Figure 2
    Distribution of Au, Cu, and Mo in holes DJ-DH-22-07 and DJ-DH-22-09 from La Gringa


    Punta Cana is an outcropping porphyry system dated at 8.5 Ma characterized by different phases of diorite intrusions hosting Maricunga and A type veinlets like the Au-rich porphyries typical of the Maricunga belt.

    Punta Cana was discovered in December 2021 and during the last season two holes were drilled targeting the outcropping veining zones; both holes returned encouraging intervals of Au, Cu, and Ag mineralization including 0.44 g/t AuEq over 75.25 m (0.11 g/t Au; 0.12% Cu, 14.08 g/t Ag) in hole DJ-DH-22-06; and 0.27 g/t AuEq over 403m (0.12 g/t Au; 3.65 g/t Ag; 0.077% Cu) in hole DJ-DH-22-08.

    Rectangle 891

    Figure 3
    Distribution of Cu in holes DJ-DH-22-06 and DJ-DH-22-08 drilled at Punta Cana showing the large magnetic anomaly associated with the main diorite stock

    Exploration to Date

    2018

    First Drilling Campaign

    3,100 m in 11 holes during 2018-2019 season

    2021

    Second Drilling Campaign

    4,292 m in nine holes during 2021-2022 season

    more than 1,800 rock samples collected

    253 talus samples collected

    460 km of Mag collected

    10 km of Induced Polarization collected


    Sable’s work at El Fierro started in early 2020 with prospection, mapping, and sampling.

    To date, 1,278 rock samples, and 3,071 soil samples have been collected, multiple kilometres of trenching have been excavated, and two geophysical campaigns comprising of 400 km of GroundMag and 77 km of Induced Polarization have been completed within the project.

    This work provided the Company with a strong basis to define targets and allowed the discovery of the Pyros and Antena Hill targets.
    The first drilling campaign in Q1-2021 comprised 3,278 m in 25 holes and the second program of 12,006 m in 65 holes started in Q4-2021 and was completed in May 2022.

    Los Pumas

    • Located 21 km South of Don Julio Project
    • Discovered in late 2020 by Sable’s exploration team
    • Au-Ag-Cu Mineralization – Combination of High-Grade and Low-Grade Styles
    • Rock Samples up to 103 g/t Au, 2,650 g/t Ag, and 2.9% Cu
    • 6 km by 4 km mineralization footprint
    • Located within the Don Julio property block and included within the Earn-In agreement with South32

    Property Geology

    Los Pumas consists of a 4 by 6 km alteration zone associated to the contact between Permian granites and Carboniferous metasediments. Abundant felsic and mafic dykes of unknown age crosscut the two mentioned lithologies.

    At least five clusters of mineralization have been found showing different styles such as quartz-tourmaline veins/breccias, sheeted quartz veinlets hosted by granite, and discrete high-grade structures in metasediments. The alteration observed includes sericite, K-Feldspar, tourmaline, magnetite and carbonate, associated with sulfides such as pyrite, chalcopyrite, arsenopyrite, and tetrahedrite.

    Current surface sampling shows values of up to 103 g/t Au, 2,650 g/t Ag, and 2.9% Cu. In Q4 2021 the company performed trenching in different zones of the project and collected continuous channel samples that returned encouraging values such as 35.2 m @ 0.71 g/t AuEq (19.93 g/t Ag, 0.067 g/t Au, 0.29% Cu) in trench 9; 31.4 m @ 0.3 g/t AuEq (5.7 g/t Ag, 0.015 g/t Au, 0.16% Cu) in trench 8; and 33.4 m @ 0.35 g/t AuEq (15.45 g/t Ag, 0.032 g/t Au, 0.072%Cu, 86 ppm Mo) in trench 12; all of them from the Pumas main zone.

    Figure 1
    Highlighted surface samples at Los Pumas Projects expressed as Gold Equivalent (AuEq g/t U$1,500 per ounce of gold, U$20 per ounce of silver, U$3.0 per pound of copper


    Figure 2
    Significant values from trenching at Los Pumas main zone

    Los Pumas Map

    Exploration to Date

    2023

    First Drilling Campaign

    Los Pumas is a very early-stage project and has never been drilled.
    Drilling planned for 2023-2024.

    619 rock samples collected

    1.6 km of trenches excavated

    7 km of road access rehabilitated

    23 km of new roads built


    Los Pumas is a very early-stage project; it has never been drilled by Sable or any other company.

    The company has collected 619 rock samples, excavated 1.6km of trenches; rehabilitated 7 km of road access, and build 23 km of new roads to connect the different zones of the project. 

    Drilling at Los Pumas is within the company plans for 2023-2024.

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