TORONTO, Feb. 15, 2019 /CNW/ - Sable Resources (TSX.V: SAE) (the "Company" or "Sable") reports that the company has received full assay results from the company's recently completed 11 drillhole, 3072m program at the Don Julio High-Sulphidation Gold Project located in San Juan Province, Argentina. Don Julio is one of 6 active or planned drill projects in the Sable portfolio for 2019. No significant results were intercepted. Sable will now take stock of results to plan a way forward at Don Julio and prioritize with our Lodo, San Gabriel and newly defined Colorado drill targets in Argentina, Scorpius Project in Peru plus Margarita and Vinata drill projects in Mexico.
5 holes drilled at the Heaven Hill target were designed to test a potential silica blanket below a large surface gold anomaly coincident with an extensive advanced argillic alteration signature. Six holes drilled at the Esperanza target were designed to test possible transition of anomalous gold in surface alteration into vuggy silica at the contact of a volcanic dome with fragmental volcanic rocks. Results from drilling were lower than anticipated with intercepts in alteration replicating surface anomalism but not intercepting the targeted mineralized silica layers in either case.
"After our first drillholes at Heaven Hill and Esperanza we have gained an invaluable insight to the geological complexity and local controls over mineralization of this large alteration and geochemical anomaly." commented Ruben Padilla Vice President of Exploration for Sable. "Although we did not intersect anticipated classic vuggy silica target blanket, we have identified a low angle mineral control located at the contact between the basement Paleozoic siliciclastic rocks and the upper Miocene fragmental volcanic rocks which we will investigate in due course. Inline with Sable's exploration philosophy, since last September we are moving ahead with detail surface mapping at district scale and we are incorporating all new knowledge, including the recent drill test, to guarantee that the mineral potential of this large mineral system is fully evaluated to maximize chances of discovery."
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.
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 (35,000ha) 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