TORONTO, Jan. 7, 2019 /CNW/ - Sable Resources Ltd ("Sable"
the "Company") (TSXV: SAE) is pleased to release its 2018
Exploration Program Summary. The summary covers Sable's projects in
multiple jurisdictions including Mexico, Argentina, Peru, and Canada.
Mexico
Margarita
Project
During the second quarter of 2018 Sable completed a drill
campaign of 2,420m in 12 drill holes
at the Margarita Ag (Zn-Pb) project. Margarita consists of
various outcropping Epithermal silver, zinc lead veins hosted in
Eocene-Oligocene Volcanics rocks. The project is defined by 5
veins; Margarita, El Caido, Juliana, Faviana, and Marie.
All exploration drilling by Sable up to this point was
executed along 750m strike of the
Margarita Vein. Results for the first round of drilling include
close to surface high-grade intersections up to 12.7m wide (e.g. M-DDH-18-11: 252.01
g/t AgEq over 11.3m;
M-DDH-18-04: 462 g/t AgEq over 4.25 m) and larger
low-grade halos (e.g. M-DDH-18-12: 36.53 g/t AgEq
over 21.35m and M-DDH-18-03: 50.26 g/t AgEq
over 44 m).
A second round of drilling planned to start in mid-January
includes 1360m in 9 holes to extend
the drilling for 1.5km along the known surface trace of the
Margarita vein and to close the drilling grid to approximately
250m space. In addition, 1750m will be drill in 13 exploration holes that
will test the other veins known in the property.
3 coarse rejects core-samples have been sent to the Lakefield laboratory of SGS in Canada to test leachability of Silver from
Margarita. Preliminary results from bottle roll leaching of the
fine-grain sample were positive. Now leachability in a coarser
fraction is being tested. Detailed mineralogy of samples is also
being tested using QEMSCAM. Final results are expected early in the
new year.
Vinata Project and other Sable tenements
Sable
Mexico, Sable Resources 100% owned
Mexican subsidiary, received 12 titles for a total of 38,396ha in
the state of Chihuahua all
covering know stream sediment and rock sample anomalous areas,
including the drill ready Vinata upper level epithermal vein system
located toward the NE of the Margarita project. The company has
also initiated the application for the Vinata Project drill
permit.
San Juan, Argentina
Sable has the option to earn
100% on a tenement package of over 35,000ha located in the Province
of San Juan, Argentina. The San
Juan exploration program of Sable covers upper epithermal
systems associated with the Upper Miocene Olivares volcanic field,
a likely continuation of the El Indio Gold Belt. Sixteen targets
have been identified in the land package. Two high sulphidation
style gold targets were prepared for drilling during the first
quarter of 2018. The targets, Heaven
Hill and Esperanza, are
part of the Don Julio High Sulphidation Cluster. In addition,
during September of this year a new high sulphidation target zone
called Victor was identified within the Don Julio Cluster. Also
starting on September of this year, Phase 2 work had been advanced
in other two target areas known as San
Gabriel and Lodo, both areas are represented by multiple
Intermediate Sulphidation style veins interpreted to be preserved
upper levels of the epithermal system. In addition to
San Gabriel and Lodo, Phase 2 work
is also advancing in other targets located around the Don Julio
lithocap zone including Silver
Valley and Cerro
Colorado.
During the last quarter of 2018, the company completed the first
reconnaissance drilling at some of the targets of the Don Julio
Cluster for a total of 3101m in 11
drill holes. Sampling of core is underway and Sable expects to
receive results early in the New Year.
Peru
Sable optioned
the gold high-sulphidation Scorpius project on the 3rd
quarter of 2018 and has just completed all Phase 2 work including
mapping, rock sampling, and 4km of IP. Preliminary
interpretation shows good correlation with high sulphidation
alteration, gold anomalies, domes, and resistivity-chargeability
anomalies. In parallel to the Phase 2 work, Sable contracted a
professional group to complete all fieldwork required to advance
the drill permit application. All fieldwork is now complete
following negotiations and surface right access granted by the
local communities.
Canada
Spences
Bridge Gold Belt
Sable completed the outright purchase from Alexandra Capital
Corp of 8 additional claims in the Spences Bridge Bold Belt (SBGB).
The claims totaling 3516.7 hectares increases Sables holdings in
the belt to 192,714 hectares. Located immediately adjacent to the
north of Westhaven's Prospect Valley project, all claims are in
good standing and cover numerous mineral occurrences and historic
geochemical anomalies. In Addition Sable conducted a 516-line
kilometer combined Magnetic-Radiometric geophysical survey as an
extension of Westhaven's recently announced survey. Extensive
planning is currently underway for Phase I exploration across the
entire SBGB package to initiate fieldwork early in the spring. In
addition existing mineral occurrences and historic geochemical
anomalies will be investigated with a view to advancing these
targets rapidly to drill stage.
Tulox
A total of seven drill holes totaling
1322m were completed between late
October to early November at Tulox targeting an initial 1.5km of
the 2.5km gold in soil anomaly defined by numerous multi-line,
multi-station values above 80ppb coincident with the contact of two
felsic intrusive bodies distinguished by differing
Thorium-Potassium gamma ray spectrometer signatures. Numerous
holes intersected mineralization associated with the granodiorite
intrusive phase with veining occurring as sheeted pyrite-rich
veinlets of 1-3cm grey quartz veins with 1-4% pyrite. Sable
expects to receive complete results shortly.
ABOUT SABLE RESOURCES LTD.
Sable is a well-funded junior grassroots explorer focused on the
discovery of new precious metal projects through systematic
exploration in endowed terranes located in favorable, established
mining jurisdictions. Sables' main focus is developing their large
portfolio of new greenfields projects to resource stage utilizing
their Upper Level Epithermal Strategy. Sable is actively exploring
the San Juan Regional Program (35,000ha) incorporating the Don
Julio Project in San Juan
Province, Argentina, the
Mexico Regional Program (1.5Mha), incorporating the Margarita,
Vinata and El Escarpe drill ready projects and the BC Intrusion
Related Program, Canada (13,600ha)
incorporating the drill ready Tulox Project.
We seek safe harbor
SOURCE Sable Resources Ltd.