TORONTO, Jan. 7, 2019 /CNW/ - Sable Resources Ltd ("Sable" the "Company") (TSXV: SAE) is pleased to release its 2018 Exploration Program Summary. The summary covers Sable's projects in multiple jurisdictions including Mexico, Argentina, Peru, and Canada.
During the second quarter of 2018 Sable completed a drill campaign of 2,420m in 12 drill holes at the Margarita Ag (Zn-Pb) project. Margarita consists of various outcropping Epithermal silver, zinc lead veins hosted in Eocene-Oligocene Volcanics rocks. The project is defined by 5 veins; Margarita, El Caido, Juliana, Faviana, and Marie. All exploration drilling by Sable up to this point was executed along 750m strike of the Margarita Vein. Results for the first round of drilling include close to surface high-grade intersections up to 12.7m wide (e.g. M-DDH-18-11: 252.01 g/t AgEq over 11.3m; M-DDH-18-04: 462 g/t AgEq over 4.25 m) and larger low-grade halos (e.g. M-DDH-18-12: 36.53 g/t AgEq over 21.35m and M-DDH-18-03: 50.26 g/t AgEq over 44 m).
A second round of drilling planned to start in mid-January includes 1360m in 9 holes to extend the drilling for 1.5km along the known surface trace of the Margarita vein and to close the drilling grid to approximately 250m space. In addition, 1750m will be drill in 13 exploration holes that will test the other veins known in the property.
3 coarse rejects core-samples have been sent to the Lakefield laboratory of SGS in Canada to test leachability of Silver from Margarita. Preliminary results from bottle roll leaching of the fine-grain sample were positive. Now leachability in a coarser fraction is being tested. Detailed mineralogy of samples is also being tested using QEMSCAM. Final results are expected early in the new year.
Vinata Project and other Sable tenements
Sable Mexico, Sable Resources 100% owned Mexican subsidiary, received 12 titles for a total of 38,396ha in the state of Chihuahua all covering know stream sediment and rock sample anomalous areas, including the drill ready Vinata upper level epithermal vein system located toward the NE of the Margarita project. The company has also initiated the application for the Vinata Project drill permit.
San Juan, Argentina
Sable has the option to earn 100% on a tenement package of over 35,000ha located in the Province of San Juan, Argentina. The San Juan exploration program of Sable covers upper epithermal systems associated with the Upper Miocene Olivares volcanic field, a likely continuation of the El Indio Gold Belt. Sixteen targets have been identified in the land package. Two high sulphidation style gold targets were prepared for drilling during the first quarter of 2018. The targets, Heaven Hill and Esperanza, are part of the Don Julio High Sulphidation Cluster. In addition, during September of this year a new high sulphidation target zone called Victor was identified within the Don Julio Cluster. Also starting on September of this year, Phase 2 work had been advanced in other two target areas known as San Gabriel and Lodo, both areas are represented by multiple Intermediate Sulphidation style veins interpreted to be preserved upper levels of the epithermal system. In addition to San Gabriel and Lodo, Phase 2 work is also advancing in other targets located around the Don Julio lithocap zone including Silver Valley and Cerro Colorado.
During the last quarter of 2018, the company completed the first reconnaissance drilling at some of the targets of the Don Julio Cluster for a total of 3101m in 11 drill holes. Sampling of core is underway and Sable expects to receive results early in the New Year.
Sable optioned the gold high-sulphidation Scorpius project on the 3rd quarter of 2018 and has just completed all Phase 2 work including mapping, rock sampling, and 4km of IP. Preliminary interpretation shows good correlation with high sulphidation alteration, gold anomalies, domes, and resistivity-chargeability anomalies. In parallel to the Phase 2 work, Sable contracted a professional group to complete all fieldwork required to advance the drill permit application. All fieldwork is now complete following negotiations and surface right access granted by the local communities.
Spences Bridge Gold Belt
Sable completed the outright purchase from Alexandra Capital Corp of 8 additional claims in the Spences Bridge Bold Belt (SBGB). The claims totaling 3516.7 hectares increases Sables holdings in the belt to 192,714 hectares. Located immediately adjacent to the north of Westhaven's Prospect Valley project, all claims are in good standing and cover numerous mineral occurrences and historic geochemical anomalies. In Addition Sable conducted a 516-line kilometer combined Magnetic-Radiometric geophysical survey as an extension of Westhaven's recently announced survey. Extensive planning is currently underway for Phase I exploration across the entire SBGB package to initiate fieldwork early in the spring. In addition existing mineral occurrences and historic geochemical anomalies will be investigated with a view to advancing these targets rapidly to drill stage.
A total of seven drill holes totaling 1322m were completed between late October to early November at Tulox targeting an initial 1.5km of the 2.5km gold in soil anomaly defined by numerous multi-line, multi-station values above 80ppb coincident with the contact of two felsic intrusive bodies distinguished by differing Thorium-Potassium gamma ray spectrometer signatures. Numerous holes intersected mineralization associated with the granodiorite intrusive phase with veining occurring as sheeted pyrite-rich veinlets of 1-3cm grey quartz veins with 1-4% pyrite. Sable expects to receive complete results shortly.
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.
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