TORONTO, July 26, 2018 /CNW/ - Sable Resources (TSX.V: SAE) (the "Company" or "Sable") is pleased to announce results from the first two drill holes targeting the Margarita Vein in its ongoing 12-hole drill program at the Margarita Project, Chihuahua State, Mexico. Both holes intersected the target with hole M-DDH-05 also intercepted a previously unknown structure at depth. Results confirm vein strike continuity for at least 500 meters to a depth of 50 meters from surface with weighted average grades ranging from 190g/t to 462g/t AgEq over thicknesses of 4.25 to 8.70 meters. True widths are estimated to be 90% of the intercept based on vein to core angle. Detailed drill results, location plan, sections and core photos are available from the Sable website.
This is the first time the Margarita project has been drilled and constitutes a new discovery for Sable.
Hole M-DDH-04: 462g/t AgEq over 4.25m from 41.5m to 45.75m Including 1.5m at 1073g/t AgEq from 42.7m to 44.2m
Hole M-DDH-05: 205g/t AgEq over 8.70m from 50.70m to 59.4m Including 242g/t AgEq over 4.8m from 50.7m to 55.5m And 268g/t AgEq over 0.7m from 58.7m to 59.4m
Hole M-DDH-05: 102.5g/t AgEq over 4.35m from 127.2m to 131.55m Including 160g/t AgEq over 1.50m from 130.05m to 131.55m
Holes M-DDH-06 to 08 have been completed and are awaiting results. Similar vein textures have been intersected in these holes across similar widths down to a depth of 100m from surface. M-DDH-09 is currently underway.
"We are excited by the grades and widths returned by the first two holes ever drilled in the Margarita Vein", stated Ruben Padilla, VP Exploration of Sable Resources. "These results clearly demonstrate that we are at the right erosional level with good preservation of the best part of the veins starting right at surface and still open at depth. We will continue the systematic drill test along the 1.6 km of known extension of the Margarita vein and along the other three veins identified within the property limits."
Silver equivalent is calculated based on USD15.50per Oz for Silver, USD 0.95 per pound for Lead and USD1.20 per pound for Zinc.
ABOUT THE MARGARITA PROJECT
Acquired as part of Sable Resources Upper Level Epithermal Strategy, the Margarita Project is located in the Satevó Municipality in Chihuahua state, approximately 120km SW of the state capital of Chihuahua City, and 110km NNW of the historic Parral mining district. The Project lies on strike with Sunshine Silver Corp.'s Los Gatos Project, which hosts a Measured and Indicated 9.2 million tonnes resource containing 178 million ounces silver-equivalent (Sunshine Silver Mining and Refining website published NI 43-101 report titled "Feasibility Study of the Cerro Los Gatos Silver-Lead-Zinc Deposit Los Gatos Project" January 2017). Hosted in Eocene-Oligocene Volcanics, Margarita is defined by 4 veins; Margarita, El Caido, Juliana and Maria on 2 claims totally encompassed by Sunshine Silver.
About Sable Resources Ltd.
Sable owns numerous mineral projects in British Columbia, Canada and Mexico including 142 square kilometers of mineral tenure and mining leases in the Toodoggone mining district of north-central British Columbia which hosts the past-producing Baker and Shasta mines, and the 250-ton-per-day Baker mill and tailings facility.
Sample preparation was carried out by ALS Chemex de Mexico S.A. de C.V., a subsidiary of ALS Minerals, at their laboratory at Chihuahua, State of Chihuahua, Mexico. Analyses were carried out at their laboratory in North Vancouver, British Columbia, Canada. Sample preparation was by 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).
Gold was analyzed by fire assay of a 30 g sample split with detection by atomic absorption spectrophotometer (AAS) (code Au-AA23). Multi-elements were analyzed by a four acid, near total digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 33 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (code MEICP61).
This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Mercury was analyzed by aqua regia digestion, cold vapor extraction, and AAS detection with a lower limit of detection of 0.01 ppm (code Hg-CV41), or by inductively coupled plasma mass spectrometer (ICP-MS) with a lower limit of detection of 0.005 ppm (code Hg-MS42).
Luis Arteaga (B.Sc) P. Geo. Exploration Manager for Sable Resources and the Company's Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release.
Weighted average composites. All other intervals are actual results.
Drill Hole Orientations
SOURCE Sable Resources Ltd.
For further information: Tom Obradovich, President & CEO, [email protected], Tel (416) 985-7140 or visit http://www.sableresources.com
Sable Resources Ltd 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...