VANCOUVER, BC, Sept. 30, 2020 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce that it has received preliminary results from a newly discovered zone at El Fierro Project in San Juan, Argentina. The La Verde zone is located 3 km north of the Fierro Alto zone and 8 km north of Fierro Bajo where high-grade results were recently released by the Company (see press releases of August 12 and September 15, 2020).
Ten samples were collected during this preliminary review from three well-defined structures (Veins M, N and P) (see Table 1). Individual assay values reach up to 900 g/t Ag; 16.7 g/t Au; >20% Pb; 3.4% Zn; and 2.9% Cu whereas silver equivalent values are as high as 2,582.06 g/t AgEq. All the samples returned values in excess of 100g/t Ag, with strongly anomalous gold values in all samples. Lead exceeded the detection limit of 20% in five samples.
Ruben Padilla, President and CEO of Sable stated, "The discovery of the La Verde zone confirms that El Fierro is a district scale mineral system with at least three high-grade zones defining an 8 kilometre by 4 kilometre footprint. Sable plans to aggressively explore for additional zones while we move to drill phase on these three mineralized centres - Fierro Bajo, Fierro Alto and now La Verde."
The three mineralized the structures strike west-north-west and show thicknesses between 0.2m and 2m. Structure M can be followed for 300m, structure N for 700m and structure P for 100m. All structures remain open in both directions (see Figure 1). More detailed sampling and mapping will be conducted over the coming months to fully understand the extent of the mineralized system.
Table 1. Results from the La Verde zone
Additional work is being planned for La Verde, including detailed geological mapping, additional sampling, and trenching. Mineralized structures at La Verde are hosted within Miocene ignimbrite flows and they exhibit quartz, sericite, barite with variable amounts of pyrite, galena, chalcopyrite, and sphalerite.
The Company notes that selected grab samples are not necessarily representative of the mineralization hosted at El Fierro. The channel samples highlighted above have been taken from accessible places where the veins were not fully mined; grab samples were collected from waste piles outside of the adits.
Maps and tables with the details of highlighted results are available on Sable's website (www.sableresources.com). Silver equivalent is calculated based on 100% recovery and prices of USD 17.89 per oz for silver; USD 1,500 per oz for gold; USD 0.86 per pound for lead; USD 1.08 per pound for zinc; and USD 2.80 per pound for copper; when a width is shown in the results, the samples are channels perpendicular to the structures representing true width.
The El Fierro Project is located 250 km northwest of San Juan, Argentina and 120 km north of Sable's Don Julio Project in one of the best-known historical mining districts in San Juan province. The El Fierro Project consists of three main known mineralized areas, Fierro Alto, Fierro Bajo, and La Verde over an area of 8km by 4km. The three areas host a number of old artisanal mining workings where silver, lead and zinc were intermittently mined since the late 1800's until the 1960s decade; the property has never been drilled. Sable recently signed two option agreements covering 6,054 hectares and the Company controls all the historically known mineralized zones at El Fierro (see press release of May 14, 2020).
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. Sable's 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 (68,718ha) incorporating the Don Julio Project and the El Fierro Project in San Juan Province, Argentina as well as the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Margarita, Vinata and El Escarpe 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.
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).
Gold was analyzed by fire assay of a 30 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES); multi-elements were analyzed by an aqua regia digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Over limit Ag, Cu, Pb, Zn OG46 analyses are conducted when samples exceed the upper detection limits; this method includes Aqua Regia digestion and ICP-AES finish. Method Ag-GRA21 which includes Fire Assay with gravimetric finish is applied when Ag exceeds 1500 g/t. Control samples (standards, blanks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.
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.
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.
For further information: Ruben Padilla, President & CEO, at [email protected], or +1 (520) 488-2520
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...