VANCOUVER, BC, March 7,
2023 /CNW/ - Sable Resources Ltd. ("Sable" or the
"Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce
initial results of the ongoing drilling program at the Don Julio
Project in San Juan, Argentina. The Company has received full
results from the first three holes drilled this exploration season,
located within La Gringa target: DJ-DH-22-10, DJ-DH-22-11, and
DJ-DH-23-12. All exploration expenditures at Don Julio are fully
funded under the Earn-In Agreement between the Company and South32,
signed in 2021.
"The near-surface high-grade Cu-Au mineralization intercepted
by hole 12 represents a new mineralization style that will be
followed up to understand its actual geometry, size, and
relationship with the overall porphyry system at the La Gringa
target. We are expanding the search towards the west with promising
geological and geochemical observations," stated Dr Ruben Padilla, President, and CEO of
Sable.
Highlights
Below are highlights of the reported drill holes with location
data and highlighted intervals included in Tables 1 and 2
below.
DJ-DH-22-12
- 2.21% CuEq (1.61% Cu; 19.1 g/t Ag; 0.38 g/t Au; 0.4% Zn) over
11.1m from 53.0 to 64.1m
Including
-
- 8.42% CuEq (6.52% Cu; 84 g/t Ag; 0.99 g/t Au; 1.21% Zn) over
0.7m from 55.0 to 55.7m
- 5.96% CuEq (3.76% Cu; 25.4 g/t Ag; 2.39 g/t Au; 0.64% Zn)
over 0.55m from 60.0 to 60.55m
- 8.80% CuEq (6.75% Cu; 82.1 g/t Ag; 0.95 g/t Au; 1.74% Zn)
over 0.5m from 63.6 to 64.1m
- 1.3% CuEq (0.54% Cu; 6.81 g/t Ag; 0.95 g/t Au) over
13.7m from 149.0 to 162.7m
Including
-
- 11.11% CuEq (4.64% Cu; 56.6 g/t Ag; 8.09 g/t Au; 0.22% Zn)
over 1.1m from 160.5 to 161.6m
- 7.81% CuEq (3.52% Cu; 43.8 g/t Ag; 5.24 g/t Au; 0.24% Zn)
over 0.5m from 162.2 to 162.7m
- 3.58% CuEq (0.82% Cu; 7.95 g/t Ag; 3.69 g/t Au) over
2.0m from 202.0 to 204.0m
- 10.58% CuEq (4.85% Cu; 50.4 g/t Ag; 7.19 g/t Au; 0.15% Zn) over
1.0m from 221.5 to 222.5m
DJ-DH-22-10
- 0.21% CuEq (2.12 g/t Ag; 0.13 g/t Au; 0.09% Cu) over
12.1m from 205.5 to 217.6m
- 1.1% CuEq (4.09 g/t Ag; 0.27 g/t Au; 0.87% Cu) over
1.0m from 227.0 to 228.0m
- 1.57% CuEq (17.2 g/t Ag; 0.7 g/t Au; 0.91% Cu) over
2.0m from 330.0 to 332.0m
- 0.31% CuEq (0.18 g/t Au; 0.18% Cu) over 20.0m from 380.0 to 400.0m
Including
-
- 1.36% CuEq (1.76 g/t Ag; 0.82 g/t Au; 0.75% Cu) over
2.0m from 392.0 to 394.0m
- 0.62% CuEq (0.28 g/t Au; 0.41% Cu) over 2.0m from 396.0 to 398.0m
- 0.23% CuEq (1.23 g/t Ag; 0.083 g/t Au; 0.16% Cu) over
63.0m from 482.0 to 545.0m
Including
-
- 0.75% CuEq (1.32 g/t Ag; 0.31 g/t Au; 0.51% Cu) over
2.0m from 510.0 to 512.0m
- 1.37% CuEq (9.82 g/t Ag; 0.22 g/t Au; 1.12% Cu) over
2.0m from 522.0 to 524.0m
- 1.45% CuEq (1.98 g/t Ag; 0.44 g/t Au; 1.11% Cu) over
2.0m from 543.0 to 545.0m
DJ-DH-22-11
- 0.11% Cu over 12.0m from
375.0m to 387.0m
- 0.14% CuEq (0.091% Cu; 139 ppm Mo; 0.95 g/t Ag) over
305m from 528.0 to 833.0m
Including
-
- 0.14% CuEq (0.097% Cu; 129 ppm Mo) over 59.0m from 528.0 to 587.0m
- 0.17% CuEq (0.11% Cu; 151 ppm Mo; 1.32 g/t Ag) over
45.8m from 636.2 to 682.0m
- 0.17% CuEq (0.11% Cu; 135 ppm Mo; 1.4 g/t Ag) over
16.0m from 758.0 to 774.0m
Hole Descriptions
DJ-DH-22-12
DJ-DH-22-12 (Hole 12) was drilled 800m west of DJ-DH-22-07, completed last season,
targeting a large chargeability anomaly identified at the La Gringa
target. Mineralization intercepted by hole 12 was completely
covered by thin quaternary gravels (Figures 1 and 2) and consists
of chalcopyrite, tennantite, enargite, and sphalerite, typical of
deep levels of the high-sulfidation environment. The hole cut at
least three zones of massive sulfides, breccias, and stockworks
which geometry is not fully understood yet. Hole DJ-DH-23-14 was
drilled in the opposite direction to hole 12 to understand the
geometry of the mineralization with results still pending. The
mineralization style resembles high-sulfidation deposits such as
Čukaru Peki located in the district of Bor in Serbia and other deep
level Cu-Au high-sulfidation systems.
DJ-DH-22-10
DJ-DH-22-10 (Hole 10) targeted a magnetic anomaly combined with
low resistivity and geochemical anomalies from historical hole
ATW-03 (Figures 1 and 3). The hole was dominated by advanced
argillic alteration transitioning into sericite-illite with
presence of A and B veinlets. Although the hole did not reach
potassic alteration, it extended the porphyry environment at least
900m from hole DJ-DH-22-07 drilled
last year. It intercepted a significant number of high-sulfidation
structures with Au-Cu anomalies characterized by tennantite,
enargite, and pyrite.
DJ-DH-22-11
DJ-DH-22-11 (Hole 11) was planned to follow up on biotite
alteration and early porphyry veining encountered in holes
DJ-DH-22-07 and DJ-DH-22-09 from last season (Figures 1 and 4). The
hole is located 580m west from
DJ-DH-22-07. Hole 11 intercepted a similar alteration transition
from advanced argillic (kaolinite-alunite-pyrophyllite),
progressing into sericite-illite and then going into strong biotite
alteration with abundant A and B type veinlets. The hole was
showing a positive increase in molybdenite, chalcopyrite and
veinlets, when it had to be abandoned due to technical problems at
833m.
Hole
|
Azimuth
|
Dip
|
Depth
|
Northing
|
Easting
|
Elevation
|
DJ-DH-22-10
|
220
|
70
|
686
|
6626144
|
2432900
|
4462
|
DJ-DH-22-11
|
65
|
70
|
833
|
6627047
|
2431930
|
4330
|
DJ-DH-23-12
|
220
|
55
|
461
|
6627300
|
2431750
|
4300
|
Table 1. Location of
reported holes
|
Hole
|
From
|
To
|
Interval
(m)
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
(%)
|
Mo
(ppm)
|
Zn
(%)
|
CuEq
(%)
|
AuEq
(%)
|
DJ-DH-22-10
|
16.5
|
17.1
|
0.6
|
50.5
|
2.14
|
|
|
|
|
2.74
|
DJ-DH-22-10
|
205.5
|
217.6
|
12.1
|
2.12
|
0.13
|
0.09
|
|
|
0.21
|
|
DJ-DH-22-10
|
227.0
|
228.0
|
1.0
|
4.09
|
0.27
|
0.87
|
|
|
1.1
|
|
DJ-DH-22-10
|
330.0
|
332.0
|
2.0
|
17.2
|
0.7
|
0.91
|
|
|
1.57
|
|
DJ-DH-22-10
|
380.0
|
400.0
|
20.0
|
|
0.18
|
0.18
|
|
|
0.31
|
|
Including
|
392.0
|
394.0
|
2.0
|
1.76
|
0.82
|
0.75
|
|
|
1.36
|
|
And
|
396.0
|
398.0
|
2.0
|
|
0.28
|
0.41
|
|
|
0.62
|
|
DJ-DH-22-10
|
482.0
|
545.0
|
63.0
|
1.23
|
0.083
|
0.16
|
|
|
0.23
|
|
Including
|
510.0
|
512.0
|
2.0
|
1.32
|
0.31
|
0.51
|
|
|
0.75
|
|
And
|
522.0
|
524.0
|
2.0
|
9.82
|
0.22
|
1.12
|
|
|
1.37
|
|
And
|
543.0
|
545.0
|
2.0
|
1.98
|
0.44
|
1.11
|
|
|
1.45
|
|
DJ-DH-22-11
|
375.0
|
387.0
|
12.0
|
|
|
0.11
|
|
|
|
|
DJ-DH-22-11
|
528.0
|
833.0
|
305.0
|
0.95
|
|
0.091
|
139.0
|
|
0.14
|
|
Including
|
528.0
|
587.0
|
59.0
|
|
|
0.097
|
129.0
|
|
0.14
|
|
And
|
636.2
|
682.0
|
45.8
|
1.32
|
|
0.11
|
151.0
|
|
0.17
|
|
And
|
758.0
|
774.0
|
16.0
|
1.4
|
|
0.11
|
135.0
|
|
0.17
|
|
DJ-DH-22-12
|
53.0
|
64.1
|
11.1
|
19.1
|
0.38
|
1.61
|
|
0.4
|
2.21
|
|
Including
|
55.0
|
55.7
|
0.7
|
84.0
|
0.99
|
6.52
|
|
1.21
|
8.42
|
|
And
|
60.0
|
60.55
|
0.55
|
25.4
|
2.39
|
3.76
|
|
0.64
|
5.96
|
|
And
|
63.6
|
64.1
|
0.5
|
82.1
|
0.95
|
6.75
|
|
1.74
|
8.80
|
|
DJ-DH-22-12
|
102.0
|
102.5
|
0.5
|
2.04
|
1.0
|
0.391
|
|
|
1.13
|
|
DJ-DH-22-12
|
149.0
|
162.7
|
13.7
|
6.81
|
0.95
|
0.54
|
|
|
|
|
Including
|
160.5
|
161.6
|
1.1
|
56.6
|
8.09
|
4.64
|
|
0.22
|
11.11
|
|
And
|
162.2
|
162.7
|
0.5
|
43.8
|
5.24
|
3.52
|
|
0.24
|
7.81
|
|
DJ-DH-22-12
|
202.0
|
204.0
|
2.0
|
7.95
|
3.69
|
0.82
|
|
|
3.58
|
|
DJ-DH-22-12
|
221.5
|
222.5
|
1.0
|
50.4
|
7.19
|
4.85
|
|
0.15
|
10.58
|
|
Table 2. Highlighted
intervals from reported holes
|
Porphyry mineralization is characterized by broad zones of
disseminated sulfides and vein stockwork; high-grade Cu-Au
mineralization intercepted in hole 12 consists of irregular zones
of semi-massive sulfides, sulfide-rich breccias, and stockworks;
therefore, true width cannot be determined at this time. CuEq and
AuEq were calculated based on 100% recovery and prices of
USD 1,500 per oz for gold; USD
18.00 per oz for Ag;
USD 3.00 per pound for copper;
USD 10.00 per pound of molybdenum,
and USD 1.10 per pound of zinc.
QUALIFIED PERSON
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.
ABOUT THE DON JULIO PROJECT
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.
ABOUT SABLE RESOURCES LTD.
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.
ABOUT SOUTH32
South32 is a globally diversified mining and metals company. The
company's purpose is to make a difference by developing natural
resources, improving people's lives now and for generations to
come. South32 is trusted by its owners and partners to realise the
potential of their resources. South32 produces commodities
including bauxite, alumina, aluminium, copper, silver, lead, zinc,
nickel, metallurgical coal, and manganese from its operations in
Australia, Southern Africa and South America. With a focus on growing its
base metals exposure, South32 also has two development options in
North America and several
partnerships with junior explorers around the world.
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 AND QA/QC
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 one 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 evaluated according to the Company protocols.
CAUTION REGARDING 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 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.