TORONTO, July 9, 2019 /CNW/ - Sable Resources Ltd. (the
"Company") (TSX Venture: SAE) Sable Resources Ltd. is
pleased to announce a drill permit has recently been received from
the Mexican Government for the Vinata Project. With this
permit together with the recently approved surface agreements with
the local community, the Company is preparing an initial drill
program to test the vertical continuity and mineral zoning along a
section of the Vinata vein system where the veins are observed
outcropping over 1000 m along strike.
Sable will contract a geophysical company to carry out a ground
electromagnetic geophysical survey ("CSAMT") to better define the
vein system at depth and at the contact of the of the outcropping
felsic dome with the volcanic rock and limestone. This survey will
complement previously completed mapping and sampling of the
structures. Based on the characteristics of the outcropping vein
system, the Company plans to complete an initial 2,500 m HQ core drill program.
Tom Obradovich, President and
CEO, stated, "We are excited to be close to the initial
drilling at Vinata. The Vinata target was discovered as a result of
a large regional geochemical survey that lead to the discovery of
an upper level epithermal vein system located close to the world
class CRD deposits of Santa
Eulalia and Naica and to
the new large vein Ag-Zn-Pb discovery of Los Gatos. This is a real
boots and hammer discovery that characterized our systematic
exploration approach and the generation of new high-quality
targets."
In house engineering and compilation of data on the Margarita
Project is complete and a budget for additional resource definition
is being proposed by management. The Margarita project is a
strategic complement to Vinata given their relative proximity.
Permitting for the Scorpius Project in Peru is underway as well as strategic land
acquisitions under negotiation with other stakeholders in the
region. All preliminary exploration work to establish drill targets
is complete and drilling will commence upon receipt of permits
early next year.
ABOUT THE VINATA PROJECT
The Vinata project is located in the Municipality of
Chihuahua, State of Chihuahua,
Mexico and is 50 km south of the city of Chihuahua. The Vinata
Project is located along possible extensions of known important
mineral belts of northern Mexico
including base metal CRD deposits as Santa Eulalia (50km NE of Vinata) and
Naica (75km SE of Vinata), and the
polymetallic vein system of the new discovery of Sunshine Silver
Corp.'s Los Gatos Project, located 75 km SW of Vinata.
The mineralization at Vinata occurs as a series of quartz veins
that outcrop along a strike length of 1,150m cutting rhyolite tuffs and a volcanic dome
that overlain and cut Cretaceous limestone. Identified via stream
sediment follow up, the system consists of outcropping veins for
approximately 1.2km. Quartz vein float extends additional
450m to the southeast and for more
than 1000m toward the NW. The system
consists of multiple sub-parallel veins and stockwork zones over a
width of between 15m and 170m. Individual veins vary in width from
<1m up to about 12m.
About Sable Resources Ltd.
Sable Resources Ltd. is a well-funded junior grassroots explorer
focused on the discovery of new precious metal projects through
systematic exploration in endowed terrains located in favourable,
established mining jurisdictions. Sables' main focus is developing
its 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 (1.16Mha in application, 39,000ha titled),
incorporating the Margarita, Vinata and El Escarpe drill ready
projects.
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. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Forward-Looking Statements
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 the Company's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward-looking information relating to, among
other things, the record date for the Return of Capital, and
completion of the distribution of the Talisker Shares. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to the Company. Although such statements are
based on reasonable assumptions of management, there can be no
assurance that any conclusions or forecasts will prove to be
accurate.
The forward-looking information contained in this release is
made as of the date hereof, and the Company 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.