/CNW/ – Sable Resources Ltd. (“Sable” or the “Company”) (TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an update on exploration activities at the Don Julio Project in San Juan , Argentina (“Don Julio”), including the initial 5,000m drilling program that commenced late November and has now been expanded to 5,900m . All exploration expenditures at Don Julio are fully funded under the Earn-In Agreement between the Company and South32, signed in 2021.
As of the date of this press release, 2,946m of drilling has been completed in seven holes utilizing two rigs, with 1,806 core samples having been cut and sent to the lab. The initial work was focused on the La Gringa target and one of the rigs has now moved to the Punta Cana target. During the last drill season, the Company defined two new porphyry centres at La Gringa and Punta Cana based on extensive presence of potassic alteration, early veinlets and significant copper, gold and molybdenum anomalies. In addition to the ongoing drilling, the Company completed an 800 soil sample program grid over the Punta Cana area and is advancing access roads to the Fermin polymetallic skarn and to the Tocota Cu-Au porphyry to prepare these two targets for the first round of drilling.
Dr. Ruben Padilla , Sable’s President and CEO commented, ” The current drill program is advancing on time and budget with several holes showing porphyry copper alteration and mineralization style, extending the already large alteration footprint of the Don Julio project. We expect to receive and release the first results of the drilling within a couple of weeks. ”
Detailed analysis of last year’s drilling data from the La Gringa target, such as geochemistry, spectral data, fluid inclusions, and geophysics has shown a mineralization vector towards the southwest along the Chita creek valley. New surface and drilling observations demonstrate that the porphyry-epithermal system present at La Gringa is larger and more complex than previously thought.
At the La Gringa zone, hole DJ-DH-22-11 followed up on biotite alteration and porphyry style mineralization observed in holes DJ-DH-22-07 and DJ-DH-22-09 drilled during the 2021/2022 season; hole 11 intercepted Cu-Mo porphyry style mineralization with results pending. Hole DJ-DH-22-09 was drilled last season to 623m and it is now being extended to a new final depth of 1,000m. On the western side of the main La Gringa valley, holes DJ-DH-23-12, DJ-DH-23-13, and DJ-DH-23-14 tested the margins of a large chargeability anomaly obtained from last year’s IP survey along the valley, assay results are also pending.
Besides the La Gringa target, hole DJ-DH-23-16 is currently being drilled at the Punta Cana target, 3 km south of La Gringa, where Au-Cu mineralization is outcropping and was intercepted in hole DJ-DH-22-08 from last season, which turned an intercept of 403m @ 0.27 g/t AuEq (see press release dated September 6, 2022 ).
The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in San Juan , Argentina . It includes the Don Julio cluster that contains numerous targets of porphyry (La Gringa, Poposa, Amarillo, Punta Cana , Tocota); intermediate sulfidation (Lodo, San Gabriel, Colorado ); skarn (Fermin); and the regional properties that include the Los Pumas project as well as extensive unexplored ground. Since 2018, Sable has conducted systematic surface work including mapping; rock sampling; talus sampling; GroundMag, and UAV-Mag, and induced polarization. Sable performed a first drilling campaign in 2019 with 3,101m drilled in 11 holes and a second campaign in early 2022 comprising 4,294m in 9 holes. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don Julio project.
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.
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 (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 (1.16Mha in application, 39,000ha 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.
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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