POTENTIAL OF ONE OR MORE MULTI-MILLION TONNE CU-AU-MO PORPHYRY DEPOSITS
At Don Julio, Carboniferous siliciclastic rocks from the basement for three generations of porphyries: 280 Ma, 8.5 Ma, and 7.3 Ma. The large Don Julio lithocap comprises alteration from these three events.
Outside the lithocap there are two intermediate sulfidation vein targets (San Gabriel and Lodo), and one Zn-Pb-Cu skarn (Fermin), the latter one was partially tested in 2022.
Five Miocene porphyry targets (Gringa, Morro-Poposa, Punta Cana, Colorado, and Tocota) are located within or around the lithocap area and are the current focus of the Company’s exploration program that is funded through the Earn-In Agreement with South32.
Figure 1Don Julio Project showing location of main targets
During the 2021-2022 season, three out of five porphyry targets have seen drilling during the 2021-2022 and/or the 2022-2023 season. The Tocota target is drill-ready after mapping, additional rock and soil sampling; and the Colorado target will see additional IP surveys before being drilled for the first time in December 2024.
Don Julio – La Gringa Target
La Gringa target has become the focus of exploration within Don Julio. During the last two exploration seasons, the Company drilled 12 holes at La Gringa extending its footprint to 1.6 by 1.2km and defining several styles of mineralization such as Cu-Mo porphyry; high-grade Cu-Au in high-sulfidation “mantos”; and finally mineralized breccias with diatreme style. The Gringa porphyry center is a 7.3 Ma system that has only been drilled to the depth of its “Moly halo”: a zone with biotite alteration in host rock with abundant B-type veinlets and Mo>Cu.
Figure 2Main drill intercepts at the La Gringa target
Punta Cana TargetThe Company discovered the Punta Cana porphyry in November 2021. The Punta Cana Au-Cu porphyry is located approximately 1.5km west of the southern margin of the known lithocap over an area of approximately 400m by 400m. Surface samples collected over the porphyry zone are as high as 3.2 g/t Au; and 0.53% Cu. During the 2022-2023 exploration season, the Company drilled one hole at the Punta Cana target (DJ-DH-23-16), results from this hole were released on April 26, 2023.
Figure 3Distribution of Cu in holes DJ-DH-22-06, DJ-DH-22-08, DJ-DH-22-16 drilled at Punta Cana showing the large magnetic anomaly associated with the main diorite stock
Don Julio – Poposa/Morro TargetAfter this season we are consolidating the Poposa and Morro zones, combining historical data with new observations. In 2022 the Company drilled holes DJ-DH-22-01, 02, and 03, which did not reach the planned depth due to technical drilling issues. Hole DJ-DH-22-02 showed B veinlets with Mo mineralization. Prospecting work completed during this season found several magmatic hydrothermal breccias containing porphyry veinlets fragments east of the historical hole ATW-05 drilled through a Miocene diatreme, which also contains biotite altered fragments. The combination of all these observations strongly suggests the presence of a magmatic-hydrothermal center with porphyry mineralization at depth.
Don Julio – Colorado Target
21km of IP survey were completed this season along the main Chita valley, located 3km East of La Gringa target expanding considerably the size of the known hydrothermal system at Don Julio. This included one of the main achievements of this geophysical program, the Colorado chargeability anomaly. The IP anomaly seems to be connected to the Colorado breccia, a structurally controlled breccia with high grade Cu-Au, which contains advanced argillic alteration and high-sulfidation mineralization. The chargeability anomaly is covered by Quaternary gravels on the valley and represents a high-potential target at lower elevation.
Figure 4Panoramic of the Colorado breccia projecting towards a chargeability anomaly found on the main Chita Valley
Don Julio – Tocota TargetTocota is an outcropping porphyry centre located on the SE part of the Don Julio cluster. A diorite intrusive with B-type and Maricunga veinlets is outcropping and subcropping in an area of approximately 400x400m. Au-Cu mineralization reaches values up to 0.4 g/t and 0.4 % respectively. The porphyry mineralization at Tocota coincides with a very strong, and vertically continuous magnetic anomaly. A soil grid of 628 samples was completed this season covering the Tocota target showing a strong coincidence of Cu and Au with the mineralized area; a large NW tending anomaly of As, Sb, Mo, Te, Bi is located NW of the mineralized area at higher elevation and may suggest additional porphyry mineralization at depth. The road access to Tocota was completed last season and the target is drill ready for the 2024-2025 season.
Figure 5Panoramic of the Tocota Cu-Au porphyry target with its main geological features
Fermin TargetFermin is a Zn-Pb-Ag-Cu skarn that was discovered in 2020 and drill tested for the first time during the 2022-2023 exploration season with two holes (DJ-DH-23-20 and DJ-DH-23-21) intercepting the targeted calcareous unit. Hole DJ-DH-23-20 returned 2.45% ZnEq (1.6% Zn; 1.01% Pb; 2.73 g/t Ag) over 5.0m from 165.0 to 170.0m; including 3.85% ZnEq (2.49% Zn; 1.7% Pb; 2.09 g/t Ag) over 1.0m from 165.0 to 166.0m; and 5.33% ZnEq (3.64% Zn; 1.95% Pb; 7.9 g/t Ag) over 0.5m from 168.5 to 169.0m.Additional to the Punta Cana, La Gringa, Poposa and Fermin targets, the Don Julio cluster includes several intermediate sulfidation vein systems such as San Gabriel, Lodo and Colorado, all of which are untested.
First Drilling Campaign
3,100 m in 11 holes during 2018-2019 season
Second Drilling Campaign
4,292 m in nine holes during 2021-2022 season
Third Drilling Campaign
6,068 m in 13 holes during 2022-2023 season
3,029 rock samples collected
1,711 soil samples collected
460 km of Mag collected
30 km of Induced Polarization collected
Sable’s work at Don Julio started in 2018 with prospection, mapping, and sampling followed by a drilling campaign of 3,100m focused on High Sulfidation targets. Since then the company has advanced mapping, sampling and geophysics in different areas of the property defining several porphyry and epithermal targets.
To date, 3,029 rock samples, and 1,711 soil samples have been collected. Several geophysical campaigns comprising 460 km of UAV Mag and 30 km of Induced Polarization have been completed within the project.
In 2021 the Company signed an Earn-In Agreement with South32, which fully funded two drilling campaigns (2021-2022 and 2022-2023) totaling 10,362m in 22 holes. The Company is currently planning the 2024-2025 drill campaign consisting on 2,000m, again fully funded by South32.
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 1Highlighted 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 2Significant values from trenching at Los Pumas main zone
Los Pumas is a very early-stage project and has never been drilled.
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.
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