El Fierro Project

Location

El Fierro Project is located in the San Juan province in Argentina; 120 km North of Sable’s Don Julio Project and 250 km NW of San Juan Capital city.

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General view of El Fierro Project showing the four main mineralized zones

Deposit Geology

Four main zones have been identified at El Fierro: Fierro Bajo, Fierro Alto, La Verde, and Lagunitas forming a footprint area of 8.6 km by 6.2 km. Mineralization at Fierro Bajo occurs within four main NW structures extending over an area of 2km by 500m; all the structures remain open in both directions. Mineralized structures exhibit Illite, sericite, silica and sulfide including pyrite, galena, chalcopyrite, and Sb sulphosalts. Rock samples reach values up to 17,531 g/t AgEq (12,181 g/t Ag, 5.67% Pb, 1.6% Cu, and 0.2% Zn). At Fierro Alto mineralized structures are hosted within Carboniferous metasediments and Miocene volcanics. Two main structures (Veins F and G) have been followed along strike for at least 1.2 km combined. Mineralized fault zones contain sericite, quartz, galena, sphalerite, chalcopyrite and arsenopyrite. Mineralization is characterized by high-grade Ag, Pb, Zn and includes significant values of gold, being this the main difference with Fierro Bajo. Three additional structures (Veins J, K, and L) were observed at just one location and will need trenching and additional follow-up along strike. Surface values at Fierro Alto are as high as 1,946.5 g/t AgEq (1,070 g/t Ag, 20% Pb, 0.38 g/t Au, 1.03% Zn, and 1.33% Cu). La Verde zone is hosted within Miocene volcaniclastic rocks; multiple structures have been identified including the main Verde vein, Azul, Negra, and Blanca veins; surface values reach 4,552 g/t AgEq (3,840 g/t Ag; 0.55% Cu; 19.8% Pb). Finally, the most recently discovered zone Lagunitas hosts multiple veins and veining zones that are yet to be fully trenched and mapped and will be one of the main targets for the next season.

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Fierro Bajo structures and surface sampling showing silver equivalent values

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Fierro Alto structures and surface sampling showing silver equivalent values

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La Verde structures and surface sampling showing silver equivalent values

Exploration to Date

Sable’s work at El Fierro started in early 2020 including basic mapping and sampling, reconnaissance of old mining works, initially focused on Fierro Bajo, and Fierro Alto, moving later to La Verde and Lagunitas zones which were not previously known. A total of 850 rock samples, and 509 soil samples have been collected within the project. Multiple kilometres of trenching have been excavated in La Verde and Lagunitas, and a geophysical campaign that included 264 km of GroundMag and 77 km of IP was completed between Q4-2020 and Q2-2021.

Drilling

Sable recently finished the first drilling campaign ever conducted in El Fierro. 3,278 m were drilled in 25 holes testing mainly the Fierro Bajo, and La Verde zones with only two holes drilled at Fierro Alto, and Lagunitas. Multiple holes have returned significant intercepts that have been included in several press releases. Drilling highlights include:

 

Hole FB-DH-21-01

783.8 g/t AgEq (650.6 g/t Ag, 3.44% Pb, 0.11% Cu) over 1.0m from 155.5 to 156.5m, including 1,556.5 g/t AgEq (1,290 g/t Ag, 6.89% Pb, 0.22% Cu, 0.12% Zn, 0.15 g/t Au) over 0.5m from 156.0 to 156.5m

Hole FB-DH-21-02

640.76 g/t AgEq (437.38 g/t Ag, 5.8% Pb, 0.38% Zn) over 1.35m from 92.65 to 94.00m, including 1,433.6 g/t AgEq (976 g/t AgEq, 13.05% Pb, 0.63% Zn) over 0.6m from 93.40 to 94.00m

Hole FB-DH-21-04

854.78 g/t AgEq (776 g/t Ag, 1.71% Pb, 0.55% Zn) over 0.5m from 56.85 to 57.35m

Hole LV-DH-21-08

546.78 g/t AgEq (4.29 g/t Au; 110.67 g/t Ag; 0.135% Cu; 0.58% Pb; 1.06% Zn) over 9.95m from 78.35 to 88.3m, including 1,429.2 g/t AgEq (11.53 g/t Au; 281.89 g/t Ag; 0.48% Cu; 1.35% Pb; 2.5% Zn) over 3.7m from 80.9 to 84.6m, including 4,381.1 g/t AgEq (49.8 g/t Au; 55.6 g/t Ag; 0.34% Pb; 3.83% Zn) over 0.5m from 81.4 to 81.9m

Hole LV-DH-21-11

363.4 g/t AgEq (101.51 g/t Ag; 2.16 g/t Au; 0.23% Cu; 1.25% Pb; 0.33% Zn) over 2.85m from 37.90 to 40.75m, including 971.33 g/t AgEq (263.64 g/t Ag; 6.32 g/t Au; 0.62% Cu; 2.7% Pb; 0.5% Zn) over 0.85m from 38.25 to 39.10m

Hole LV-DH-21-12
429.92 g/t AgEq (38.1 g/t Ag; 0.78 g/t Au; 0.13% Cu; 8.68% Pb; 0.7% Zn) over 0.50m from 121.10 to 121.60m

Hole LV-DH-21-18
343.12 g/t AgEq (145.83 g/t Ag; 0.82 g/t Au; 0.22% Cu; 2.93% Pb; 0.18% Zn) over 1.20m from 89.0 to 90.20m

Hole LV-DH-21-22
450.77 g/t AgEq (49.50 g/t Ag; 0.96 g/t Au; 0.17% Cu; 2.92% Pb; 4.93% Zn) over 050m from 76.10 to 76.60m

Status: Phase 2 exploration, Phase 1 Drilling

GREENFIELDS EXPLORATION AT ITS BEST