TORONTO, Sept. 20, 2018 /CNW/ - Sable Resources Ltd ("Sable" the "Company") (TSXV: SAE) is pleased to announce a finalized drill plan for the Don Julio High-Sulphidation Gold Project located in San Juan Province, Argentina. In addition Sable has also negotiated and signed a Drill Services Agreement with Boart Longyear Argentina S.A. to conduct the drilling.
A minimum of 8 diamond drill holes of up to 450 meters deep for a total of 3600 meters are planned at Don Julio to test the potential gold levels within the Esperanza and Heaven Hill targets (Figure 1). Drill permits have been approved, access and construction of drill roads and is underway and drilling is planned to commence in October.
The various technical elements supporting Sable's drill plan are as follows:
- Ages of volcanic and hydrothermal events support Sable's original working hypothesis that the Olivares volcanic center could represent the southern extension of the El Indio Gold Belt. Two of the age brackets reported at Don Julio by Sable's new U-Pb data are in the same age range of the large systems of El Indio (6.5Ma) and Pascua Lama (8.7Ma). Two reported older ages by Western Mining are similar to the age of the large gold deposit of Veladero (10Ma).
- A good volcanic structure facilitating the ascent of magmas and fluid within the ~5 km diameter caldera with permeable rocks, domes, and structures forming feeder zones and favorable depositional settings for the hydrothermal fluids.
- Large outcropping gold anomalous alteration footprints. ~2000 x 500 meters at Heaven Hill and 2000 meters by 2000m at Esperanza.
- Interpreted low levels of erosion from textures of the breccias associated to dacitic domes, alteration assemblages geometrical pattern and geochemistry of gold and mercury.
- Low level of erosion is permissive for the exploration of concealed ore zones associated with vuggy silica and sulphide gold mineralization below the low-gold grade quartz alunite, dickite, and argillic alteration assemblages. Permeable fragmental tuffs, hydrothermal breccias, and margins of domes are excellent potential setting for the core zones of mineralized targets
- Multi-magmatic hydrothermal pulses and the large upper-level alteration footprints enhance the exploration potential
- Excellent land control and stable, pro-mining jurisdiction
- Drill permits and ground access granted
"We are pleased to have partnered with an experienced drill operator, knowledgeable in drilling in high-sulphidation systems in the Andean environment." commented Tom Obradovich, President and CEO of Sable Resources. "Our aggressive drill program consists of 750m spaced drill holes to identify a large mineralized system. With the onset of the Argentine spring we have ample time to execute our planned drill program which we hope will result in our second significant discovery of this year."
ABOUT THE DON JULIO PROJECT
The Don Julio Project is defined by an extensive 5km by 5km Miocene lithocap located in the Cordillera Frontal of Argentina. The lithocap affects a package of fragmental volcanic rocks intruded by dacitic domes and phreatic breccias associated with and affected by an advanced argillic mineralizing event. A large anomalous precious metal footprint is coincident with the lithocap and associated with the advanced argillic mineralizing event. Field evidence indicates that the erosion level is high with high probability of preservation of a mineralized system. Sable is working in a systematic way to model the hydrothermal up flow zones that will define drill targets at depth. Sable believes Don Julio represents the southern extension of the prolific El Indio-Pascua Belt.
APPOINTMENT OF ANDREW MALASHEWSKY AS CFO
Sable Resources Ltd. is pleased to announce the appointment of Andrew Malashewsky to the position of CFO.
Andrew has over 10 years of finance and accounting experience. He was previously the Vice President of Finance for JDS Silver Inc. in which he was a key member of the team which brought the brownfield Silvertip Mine project from PEA to producing asset in less than 3 years. He has further served in various finance and accounting roles in a range of industries including mining, manufacturing and construction management. He holds a bachelor in Business Administration, and is a Chartered Accountant and a Chartered Professional Accountant. He was previously the CFO of the Company in 2017.
Richard Godfrey will be stepping down as CFO and the Company wishes to thank Richard for his efforts over the recent period.
ABOUT SABLE RESOURCES LTD.
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. Sables' main focus is developing their large portfolio of new greenfields projects to resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San Juan Regional Program (48,000ha) incorporating the Don Julio Project in San Juan Province, Argentina, the Mexico Regional Program (1.5Mha), incorporating the Margarita, Vinata and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,600ha) incorporating the drill ready Tulox Project.
Luis Arteaga M.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.
We seek safe harbor
SOURCE Sable Resources Ltd.
For further information: Tom Obradovich, President & CEO, [email protected], Tel (416) 985-7140, Or visit sableresources.com