VANCOUVER, British Columbia, Oct. 24, 2024 (GLOBE NEWSWIRE) — Sable Resources Ltd. (“Sable” or the “Company”) (TSXV:SAE | OTCQB:SBLRF) is pleased to announce the commencement of field activities at the Don Julio Project in San Juan, Argentina (“Don Julio” or the “Project”). All exploration expenditures at Don Julio are fully funded under the Earn-In Agreement between the Company and a subsidiary of South32 Limited (“South32”), signed in 2021.
Highlights
- US$2 million budget approved for the 2024 – 2025 field season at the Don Julio Project
- Camp setup complete
- An 18km Induced Polarization (IP) survey will be conducted at the Colorado target commencing the week of October 25th
- 2,000m of diamond drilling is planned to commence the first week of November at the Morro and Colorado targets
- Morro: The Morro target is located along a principle fault corridor with coincident molybdenum anomalism, low resistivity, and moderate magnetic anomalies, in an area where the roof of the Au-Cu-bearing lithocap contains hydrothermal breccias with fragments cut by early quartz veinlets and the presence of widespread sericitic alteration. B type porphyry veinlets were intercepted below the lithocap alteration in a drill hole completed in 2023 at the Poposa target, 650 south of Morro (Fig. 1).
- Cerro Colorado: The Cerro Colorado target is a strong, dome-shaped IP anomaly covered by Quaternary gravels at 4,100 m.a.s.l. The IP anomaly seems to relate to the previously outlined Colorado breccia, a magmatic-hydrothermal breccia outcropping at 4,900 m.a.s.l. The breccia contains mineralized porphyry fragments, strongly affected by advanced argillic alteration, with anomalous geochemical values up to 3.9% Cu and 13 g/t Au (Fig. 2).
Dr. Ruben Padilla, Sable’s President, and CEO, stated, “The Company is pleased to start another field season at Don Julio with the financial and technical support of our exploration partner South32. We have engaged Quantec Geoscience for the IP survey planned at Colorado, which will better define the shape of the chargeability anomaly defined a year ago, and investigate its possible connection with the mineralized breccia that outcrops on Cerro Colorado. ConoSur Drilling will commence drilling at Morro, where various vectors suggest the presence of a porphyry centre at depth below the roof of the lithocap.”
Figure 1. The location of Morro and Colorado drill targets over all available IP data shows
the new IP lines that will cover the entire Colorado target (red lines). The image also
includes all known porphyry targets at Don Julio (red stars), breccias and diatremes (blue stars),
and main faults (blue, white, and green lines).
Figure 2. Panoramic view and main elements of the Colorado target.
IP will be extended toward the Colorado breccia
ABOUT THE DON JULIO PROJECT
The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in San Juan, Argentina. It includes the Don Julio cluster, which contains numerous porphyry-style (La Gringa, Morro-Poposa, Punta Cana, Tocota, Colorado) targets; intermediate sulfidation (Lodo, San Gabriel, Colorado) targets and skarn (Fermin) targets. Additionally, the regional-scale property includes the Los Pumas project and extensive unexplored ground. Since 2018, Sable has conducted systematic surface work including mapping, rock sampling, talus sampling, GroundMag, UAV-Mag, and IP geophysics. Sable performed a first drilling campaign in the 2018 – 2019 field season with 3,101m drilled in 11 holes, a second campaign in the 2021 – 2022 field season comprising 4,294m in 9 holes, and a third campaign in the 2022 – 2023 field season. In 2021, Sable signed an Earn-In Agreement with a subsidiary of South32 Limited to jointly explore the Don Julio project.
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). The samples contained in this press release were analyzed by methods Au-AA24 (Fire Assay Fusion and Atomic Absorption Spectrometry finish) and ME-MS61 (Four Acid Digestion with Mass Spectrometry finish); the latter one includes 48 elements (Al, Ag, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Both digestion methods dissolve most minerals but not all elements are quantitatively extracted in some sample matrices. Control samples (standards, blanks, and duplicates) are inserted systematically, and their results evaluated according to the Company protocols.
QUALIFIED PERSON
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 Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable’s focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (>130,000 ha) incorporating the Don Julio, El Fierro, and Cerro Negro projects in San Juan, Argentina.
ABOUT SOUTH32 LIMITED
South32 is a globally diversified mining and metals company. The company’s purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come. South32 is trusted by its owners and partners to realise the potential of their resources. South32 produces commodities including bauxite, alumina, aluminium, copper, zinc, lead, silver, nickel and manganese from its operations in Australia, Southern Africa and South America. South32 also has a portfolio of high-quality development projects and options, and exploration prospects, consistent with its strategy to reshape its portfolio towards commodities critical for a low-carbon future.
For further information, please contact:
Ruben Padilla, President & CEO at [email protected] or +1 (520) 488-2520
Related link: sableresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.
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, 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/90c5da4d-bc62-4504-a9fb-5dfd97c186ec
https://www.globenewswire.com/NewsRoom/AttachmentNg/1a136168-4656-40ce-9c4b-0bc337198988
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