Sable Announces Initial Surface Results from New Gold-Copper Targets at La Poncha Project

VANCOUVER, BC , Sept. 13, 2023 /CNW/ – Sable Resources Ltd. (“Sable” or the “Company”) (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce initial sampling results from the recently discovered Zonda and Campamento targets located within the La Poncha project in San Juan, Argentina . Both areas were discovered during the regional exploration work conducted last season across the large land package controlled by the Company at La Poncha Project. At the Zonda target, 173 rock samples were collected with values up to 16.8 g/t Au, 53 g/t Ag and 1.1% Cu . At the Campamento target, 73 rock samples were collected with values up to 1.5% Cu, 154 g/t Ag, 3.1% Pb, 1.8% Zn and 2.07 g/t Au .

Dr. Ruben Padilla , President and CEO of Sable stated, “These two new areas are the product of the continuous “boots on the ground” prospecting activity conducted on our large land package and feed our portfolio of Greenfields targets. The quality of these two new target areas is evident by the number of samples with high gold and copper results and by the size of the areas covered by the anomalous samples. Additional work will be completed to map the full footprint of the mineralization.”

The Au-Ag-Cu Zonda target is located on the southern portion of La Poncha claims, 15km south of the Poncha North target, and only 800m south of the road to Barrick’s Veladero mine. Although detailed mapping is in progress, the geology of the area is characterized by Carboniferous sediments of the Agua Negra Formation intruded by multiple rhyolite dykes likely of Permian age; a large extension of Permian granite is observed on the southwest part of the target. The gold mineralization at Zonda is focused on a series of quartz-barite veins and veinlets preferentially hosted in the rhyolite dykes but also observed in the sedimentary rocks. The width of the veinlets varies from 1 cm to almost 60cm, forming continuous zones of veining up to 14m wide. The orientation of the structures is WNW and the only observed sulfide is pyrite which is mostly oxidized; Ba, As, and Sb anomalies suggest an epithermal affinity for the mineralization. From 173 samples collected, 30 samples exceeded 1 g/t Au and 17 samples exceeded 3 g/t Au, reaching maximum values of 16.8 g/t Au – see Table 1.

Although mineralization at Zonda is mostly gold with some silver credits, a new zone located to the SW of the main mineralized area is showing abundant Cu mineralization as Cu oxides and partly oxidized chalcopyrite, hosted within Permian granites; the mineralization has been mostly observed as float and subcrop since the entire area is heavily covered with colluvial material. Samples in this style of mineralization have returned values up to 1.1% Cu and 53 g/t Ag – see Figures 2 and 3.

The Cu-Ag-Pb-Zn Campamento target is located on the central-eastern portion of the Poncha land package, 9.5 km SE of the Poncha North target. Mineralization found at Campamento is exclusively hosted in Permian granites in the form of chalcopyrite and Cu-oxides in quartz tourmaline veinlets. The structural setting is still to be understood but the anomalous copper zones seem to define a NNE corridor while individual veinlets are mostly NS oriented. 73 samples have been collected so far from which 18 contain >0.1% Cu and nine returned >0.5% Cu. The mineralogical and geochemical association may indicate an Intrusion Related mineralization style.

Both Campamento and Zonda targets are in a very early stage and will become an active part of the 2023-2024 field season. The lower elevation and easy access at the Zonda target have allowed to advance exploration work during the winter months. A 1,106 soil samples grid was just completed at Zonda, and the samples are currently being analyzed at ALS labs. Additional mapping, sampling, trenching, and geophysics will be part of the exploration plan during the next months.

Highlighted Samples

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.

In March 2021 , the Company signed an option agreement for the La Poncha Project comprising 18,114 hectares and located 69 km north of Don Julio and 50 km south of the El Fierro Project. The La Poncha Project was explored by at least three companies in the past including Golden Arrow (2008), Teck (2009), and Genesis Minerals (2012). These companies completed limited drilling on the property with several encouraging intercepts publicly released at the time. Historical highlights obtained by Golden Arrow in 2008 include 266m @ 1.21 g/t Au and 3.30 g/t Ag ( 129m – 395m ); 61m @ 3.04 g/t Au and 7.16 g/t Ag ( 270m – 331m ) and multiple other intercepts from 2008. In 2012, Genesis Minerals released 12.15m @ 4.87 g/t Au, 15.9 g/t Ag and 0.49% Zn. In 2022, Sable drilled 2,216m at the Poncha North target obtaining long intercepts of strongly anomalous gold.

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 favourable, 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 (1.6Mha in application, 26,373ha titled) incorporating the Vinata and El Escarpe projects.

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.

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 holes 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 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 are evaluated according to the Company protocols.

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.

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