VANCOUVER, BC, April 26,
2023 /CNW/ - Sable Resources Ltd. ("Sable" or the
"Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an
update on the ongoing drill program at the Don Julio project,
located in the province of San
Juan, Argentina ("Don
Julio" or the "Project"). All exploration activities at Don
Julio are funded by South32 under the Earn-In Agreement between the
Company and South32, signed in 2021.
Dr. Ruben Padilla, President and
CEO of Sable commented, "Don Julio is a multi-target project
contained within an area of over 10 x 10 km. This season's
drilling program has been designed to test several of these
targets. The current drilling results from the La Gringa and
Punta Cana targets along with our
geological observations define large anomalous mineral systems and
provide exploration vectors that take us closer to the causative
porphyry intrusive centres which in porphyry systems often host the
best copper and gold grades. Drilling continues at La Gringa
along with the modeling of all available data from La Gringa and
Punta Cana to continue
exploration, refine the geological models and to plan additional
drilling."
Highlights
1-La Gringa
Nine drill holes have been completed this season at the La
Gringa target for a total of 4,098m.
Drilling has defined a >1,500m NNE long and >1,000m wide porphyry system, mostly covered by
thin quaternary gravels along the La Gringa valley (Figure 1).
Cu-Au-Mo anomalous values are hosted by altered siliciclastic
rocks and hydrothermal breccias with an upper advanced argillic
alteration zone overprinting deeper sericitic and potassic
alteration assemblages. The latest results increase the size of the
already large porphyry style mineralization that remains open along
the NNE strike and at depth. The causative intrusion, and
potentially the host of the best Cu-Au grades, has yet to be
found.
DJ-DH-23-14
- 3.75% CuEq (17.3 g/t Ag; 1.44 g/t Au; 2.33% Cu; 0.58% Zn) over
2.90m from 77.6 to 80.5m
Including
-
- 9.83% CuEq (46.5 g/t Ag; 3.85 g/t Au; 6.03% Cu; 1.61% Zn) over
0.50m from 78.7 to 79.2m
DJ-DH-23-15
- 0.17% CuEq (3.14 g/t Ag; 0.092% Cu; 163 ppm Mo) over
17.0m from 724.0 to 741.0m
- 0.17% CuEq (0.068% Cu; 319 ppm Mo) over 157.0m from 844.0 to 1,001m
Including
-
- 0.22% CuEq (0.11% Cu; 333 ppm Mo) over 22.80m from 903.20 to 926.0m
DJ-DH-23-17
- 1.11% CuEq (5.33 g/t Ag; 1.07 g/t Au; 0.28% Cu) over
6.0m from 155.5 to 161.5m
DJ-DH-23-19
- 1.15% CuEq (8.63 g/t Ag; 0.42 g/t Au; 0.77% Cu) over
0.9m from 281.55 to 282.45m
- 0.61% CuEq (5.48 g/t Ag; 0.3 g/t Au; 0.26% Cu) over
17.5m from 326.5 to 344.0m
- 0.49% CuEq (9.77 g/t Ag; 0.16 g/t Au; 0.1% Cu) over
11.0m from 427.0 to 438.0m
- 0.75% CuEq (14.88 g/t Ag; 0.37 g/t Au; 0.32% Cu) over
1.6m from 448.1 to 449.7m
2-Punta Cana
A 437m drill hole (DJ-DH-23-16)
was completed at Punta Cana
targeting subcropping Au-Cu porphyry style mineralization over a
strong magnetic anomaly and close to two anomalous drill holes from
the last drill season (see Figure 3). The last 156m of this hole returned 0.32 g/t AuEq
associated with quartz-bornite-chalcopyrite veinlets hosted by a
series of subvolcanic intrusions and breccias. The Company
believes that this mineralization represents the highest part or
carapace of a large porphyry system at deeper level. Future
drill campaigns will evaluate the grade profile of the system below
the 4,500 masl horizon (Figures 3 and 5).
DJ-DH-23-16
- 0.32 g/t AuEq (6.39 g/t Ag; 0.11 g/t Au; 0.086% Cu; 32 ppm Mo)
over 156.0m from 281.0 to
437.0m
Including
-
- 0.45 g/t AuEq (11.05 g/t Ag; 0.14 g/t Au; 0.11% Cu; 39 ppm Mo)
over 55.0m from 330.0 to 385.0m
Including
-
- 1.05 g/t AuEq (46.68 g/t Ag; 0.13 g/t Au; 0.15% Cu; 0.17% Pb;
0.14% Zn; 51 ppm Mo) over 12.0m from
330.0 to 342.0m
3-Fermin
The first round of drilling started at the Fermin base metals
skarn target during the last week of March (Figure 5). Two
drill holes for a total 450.8m have
been completed with assays pending.
Hole Descriptions
DJ-DH-22-14
Hole 14 was drilled perpendicular to hole DJ-DH-23-12,
previously released and which intercepted three intervals of
high-grade Au-Cu-Ag mineralization associated with chalcopyrite,
enargite, and sphalerite bodies (Figure 2 and Table 2). The
hole encountered the first mineralized zone intercepted by hole 12
extending it around 50m towards the
west with similar grade profile. Hole DJ-DH-23-18 was drilled
on the western margin of the same chargeability anomaly targeting
the same mineralization style but did not intercept significant
mineralization (Figure 2).
DJ-DH-22-15
Hole 15 was drilled as an extension of DJ-DH-22-09 drilled last
season (Figure 1), the hole started at 623m and finished at 1,001m of depth, becoming the deepest hole in the
history of the Project. The hole intercepted extensive
biotite alteration in sedimentary rocks with abundant A and B
veinlets. Although the Cu anomaly is moderate, the Moly values are
consistently high reaching up to 0.16% Mo and yielding >200 ppm
Mo over the entire hole (Table 2). Results from this hole increase
the size of the already large moly halo external to the porphyry
intrusion yet to be found.
DJ-DH-22-16
Hole 16 is the only hole drilled at the Punta Cana target this season; the hole
targeted the core of a conspicuous magnetic anomaly associated with
the Au-Cu porphyry mineralization (Figures 3 and 5). The hole
intercepted a broad zone of Au-Ag-Cu mineralization represented by
porphyry quartz veinlets bearing chalcopyrite, bornite, and
magnetite (Table 2). The mineralization found in the three holes
forms a relatively low angled zone with apparent orientation ENE.
The veinlets are hosted in a series of subvolcanic intrusions and
breccias; the company believes that this mineralization represents
the highest part or carapace of a large porphyry system at deeper
level. Future drill campaigns will evaluate the grade profile of
the system below the 4,500 masl horizon.
DJ-DH-23-17
Hole 17 is a shallow hole drilled on the eastern margin of the
previously shown chargeability anomaly looking for high-grade
mineralization similar to the one intercepted in holes 12 and 14
(Figure 1 and Table 2). The hole intercepted sediments with SCC and
minor advanced argillic alteration crosscut by abundant D veinlets.
Although shallow the hole points to the large potassic
alteration zone defined by holes DJ-DH- 22-07, DJ-DH-23-11, and
DJ-DH-23-15, and shows a marked increase in Cu and Mo values
towards its bottom helping with the larger scale vectoring at La
Gringa.
DJ-DH-23-19
Holes DJ-DH-23-13 and DJ-DH-23-19 were both drilled on the
western margin of the large chargeability anomaly discovered along
the La Gringa Valley (Figures 1 and 4). Hole 13 discovered a
series of hydrothermal breccias with advanced argillic alteration
and weak copper mineralization and hole 19 was a step back hole
that defined a large diatreme breccia with Cu-Au-Ag anomalies. Hole
19 also discovered several mineralized zones at depth including
17.5m @ 0.61% CuEq associated with
pyrite-chalcopyrite in pyrophyllite veinlets (Table 2).
Hole
|
Azimuth
|
Dip
|
Easting
|
Northing
|
Elevation
|
Depth
|
DJ-DH-23-13
|
55
|
70
|
2431386
|
6626757
|
4342
|
455
|
DJ-DH-23-14
|
50
|
50
|
2431681
|
6627231
|
4310
|
229
|
DJ-DH-23-15
|
150
|
80
|
2432193
|
6627441
|
4286
|
1,001
|
DJ-DH-23-16
|
90
|
70
|
2431762
|
6623732
|
5084
|
437
|
DJ-DH-23-17
|
50
|
50
|
2431787
|
6627108
|
4321
|
202.5
|
DJ-DH-23-18
|
55
|
65
|
2431236
|
6626884
|
4286
|
356
|
DJ-DH-23-19
|
55
|
70
|
2431272
|
6626678
|
4360
|
498
|
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-23-14
|
77.60
|
80.50
|
2.90
|
17.3
|
1.44
|
2.33
|
|
0.58
|
3.75
|
|
Including
|
78.70
|
79.20
|
0.50
|
46.50
|
3.85
|
6.03
|
|
1.61
|
9.83
|
|
DJ-DH-23-14
|
137.90
|
140.00
|
2.10
|
2.57
|
0.32
|
0.085
|
|
|
0.34
|
|
DJ-DH-23-14
|
165.45
|
165.95
|
0.50
|
4.33
|
0.21
|
0.74
|
|
|
0.93
|
|
DJ-DH-23-15
|
844.00
|
1,001.00
|
157.0
|
|
|
0.068
|
319
|
|
0.17
|
|
Including
|
724.00
|
741.00
|
17.0
|
3.14
|
|
0.092
|
163
|
|
0.17
|
|
And
|
903.20
|
926.00
|
22.80
|
|
|
0.11
|
333
|
|
0.22
|
|
DJ-DH-23-16
|
281.00
|
437.00
|
156.00
|
6.39
|
0.11
|
0.086
|
32
|
|
|
0.32
|
Including
|
330.00
|
385.00
|
55.00
|
11.05
|
0.14
|
0.11
|
39
|
|
|
0.45
|
Including
|
330.00
|
342.00
|
12.00
|
46.68
|
0.13
|
0.15
|
51
|
|
|
1.05
|
DJ-DH-23-16
|
403.50
|
420.80
|
17.30
|
2.27
|
0.10
|
0.10
|
44
|
|
|
0.29
|
DJ-DH-23-17
|
23.50
|
25.50
|
2.00
|
9.71
|
0.14
|
0.12
|
|
|
0.30
|
|
DJ-DH-23-17
|
155.50
|
161.50
|
6.00
|
5.33
|
1.07
|
0.28
|
|
|
1.11
|
|
DJ-DH-23-17
|
181.50
|
183.50
|
2.00
|
1.96
|
0.14
|
0.14
|
|
|
0.25
|
|
DJ-DH-23-19
|
281.55
|
282.45
|
0.90
|
8.63
|
0.42
|
0.77
|
|
|
1.15
|
|
DJ-DH-23-19
|
326.50
|
344.00
|
17.50
|
5.48
|
0.30
|
0.26
|
|
|
0.61
|
|
DJ-DH-23-19
|
427.00
|
438.00
|
11.00
|
9.77
|
0.16
|
0.10
|
|
|
0.49
|
|
DJ-DH-23-19
|
448.10
|
449.70
|
1.60
|
14.88
|
0.37
|
0.32
|
|
|
0.75
|
|
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 14 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.
Webinar
Sable's President and CEO, Ruben
Padilla, will be providing an exploration update discussing
these results and the 2022 / 2023 exploration season. The webinar,
hosted by Adelaide Capital, is scheduled for Monday, May 1, 2023 at 4:15pm EST.
Register at the following link -
https://us02web.zoom.us/webinar/register/WN_NmJer5IyT7OT8J67Ibfbkg
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.