VANCOUVER, BC, Feb. 15, 2022 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce additional results from Phase II diamond drilling campaign at the El Fierro Project. El Fierro is a historic artisanal silver rich mining district located 250 km northwest of San Juan city. Sable completed the first drilling campaign ever conducted at El Fierro in May 2021 with a total of 3,278 metres in 25 drill holes, reporting multiple high-grade intercepts and the identification of >14.5 kilometres of veins. So far, Sable has drill tested portions of the Fierro Bajo, Fierro Alto, La Verde, and Lagunitas vein systems. The current Phase II drill program commenced in late October 2021 and by mid December had completed 3,630 metres in 31 drill holes. The campaign focuses on reconnaissance drilling to determine the full strike extension of the La Verde and Lagunitas vein systems and to confirm vertical continuity down to at least 250 metres. In addition, Sable is conducting some extra drilling on Fierro Bajo, and first pass drilling over other known veins.
Sable has received results from two drill holes, while 12 additional drillholes are currently being analyzed by ALS Minerals.
Ruben Padilla, President and CEO of Sable stated, "These continuing positive drill hole results confirm that the La Verde vein is a high priority in our ongoing drilling program and the El Fierro project."
Highlighted Intercepts include:
- 353.59 g/t AgEq (96 g/t Ag; 2.77 g/t Au; 0.13% Cu; 0.32% Pb) over 2.0m from 98.00 to 100.00m
- 592.78 g/t AgEq (50.4 g/t Ag; 6.14 g/t Au; 0.1% Cu; 0.58% Pb) over 0.50m from 98.00 to 98.50m
- 529.96 g/t AgEq (149 g/t Ag; 4.34 g/t Au; 0.12% Cu; 0.16% Pb) over 0.50m from 99.00 to 99.50m
- 265.23 g/t AgEq (112.1 g/t Ag; 0.16 g/t Au; 0.19% Cu; 0.93% Pb; 2.07% Zn) over 1.0m from 59.10 to 60.10m
- 297.10 g/t AgEq (144 g/t Ag; 0.15 g/t Au; 0.24% Cu; 1.17% Pb; 1.77% Zn) over 0.5m from 59.10 to 59.60m
Hole LV-DH-21-45 is located within La Verde central block 270m west of LV-DH-21-08 which was the best drill hole intercept from last campaign (see Sable news release dated May 3, 2021). Hole LAG-DH-21-47 is the first hole received from a number of holes drilled at the Lagunitas zone and it is located 560m SE of hole LV-DH-21-19 which was drilled last season and intercepted 87.31 g/t AgEq over 40.6m (see Sable news release dated August 24, 2021).
Mineralization intercepted in the reported drill holes represents between 60% and 90% true width. Maps and tables associated with this press release will be available on Sable's website (www.sableresources.com). Silver equivalent (AgEq) is calculated based on 100% recovery and prices of USD 18 per oz for silver; USD 1,500 per oz for gold; USD 0.85 per pound for lead; USD 1.1 per pound for zinc; and USD 3.0 per pound for copper. Cu, Pb, Zn values lower than 0.1%, and Au values lower than 0.1 g/t have not been considered within the AgEq calculation.
Table 1. Location of Reported Holes
ABOUT EL FIERRO PROJECT
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 the San Juan province. The El Fierro Project consists of four main known mineralized areas - Fierro Alto, Fierro Bajo, La Verde and Lagunitas over an area of 8.6 km x 6.2 km. Three of the four 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. Prior to Sable's 2021 drill program, the Property had never been drilled. Sable currently controls 58,510 hectares covering all the historically mineralized areas and additional highly prospective ground over a large magnetic anomaly.
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.
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. Sable's main focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, La Poncha, and los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.
Related link: sableresources.com
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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 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-GRA22 which includes Fire Assay with gravimetric finish is applied when Ag exceeds 1500 g/t. Tritration method is applied when Pb and Zn exceed 20 and 30%, respectively (codes Pb-VOL70 and Zn-VOL50). Control samples (standards, blnks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.
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.
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