TORONTO, Oct. 16, 2018 /CNW/ - Sable Resources Ltd ("Sable" the "Company") (TSXV: SAE) is pleased to announce the staking of a 189,197 hectare land package covering over 70% of workable ground of the Spences Bridge Gold Belt (SBGB) in Southern British Colombia, Canada. The ground is held by Sables' 100% subsidiary Multinational Mining Inc. The SBGB is a 200-kilometer long by 30 kilometer wide, emerging Low-Sulphidation Epithermal Gold Belt that Sable believes to be highly prospective and underexplored. Interpreted by Sable to be a failed cretaceous rift basin, Sable believes the belt is prospective for Fruta del Norte style high-grade epithermal mineralisation.
In addition to the claim staking, Sable has also formed a strategic alliance with Westhaven Ventures Inc ("Westhaven") (TSXV: WHN). Westhaven recently released high grade intersects at their Shovelnose project (October 2nd, 2018) intersecting 1.65 Metres of 175 g/t Gold and 249 g/t Silver and recognition of visible gold in 5 drill holes. The Alliance brings together Sable's and Westhaven's technical expertise and combined control of 86% of the Gold Belt (225,000ha). In accordance with an existing Confidentiality and Non Disclosure Agreement between the two companies, any ground staked by Sable within 5-kilometre of Westhaven's existing projects will be subject to a 2.5% NSR. In addition Westhaven has a 30 day Right of First Refusal (ROFR) for a three-year period for any properties within this 5-kilometre radius.
"Representing one of the largest single staking exercises in British Columbia, the acquisition of Spences Bridge is directly inline with our ongoing Upper Level Epithermal Strategy, acquiring ground and projects in world class jurisdictions in prospective terranes we believed to be underexplored." Commented Terry Harbort, Vice President of Corporate Development for Sable. "We have been monitoring the SBGB for some time waiting for the right moment to implement our strategy. Our alliance with Westhaven now gives us combined control of the vast majority of this highly prospective gold belt. As the Mexico Regional program moves in to Phase II (detailed sampling and mapping) and the San Juan Regional Program (Argentina) moves into Phase III (Drilling) the Spences Bridge Regional Program will rebuild our Phase I pipeline, ensuring that Sable Shareholders have a robust exploration project portfolio for the foreseeable future."
"We are very pleased to be partnering with Sable's successful and experienced technical team," stated Gareth Thomas, President & CEO of Westhaven. "We believe our recent results and operational experience in the SBGB combined with Sable's epithermal and greenfields knowledge forms a strong alliance mutually beneficial to both companies."
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.
ABOUT WESTHAVEN VENTURES INC.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose, Prospect Valley, Skoonka and Skoonka North gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call GarethThomas at 604-681-5558 or visit Westhaven's website at www.westhavenventures.com
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SOURCE Sable Resources Ltd.
For further information: Tom Obradovich, President & CEO, [email protected], Tel (416) 985-7140; Or visit sableresources.com