18:12:09 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Sable Resources Ltd (2)
Symbol SAE
Shares Issued 49,589,457
Close 2017-03-21 C$ 0.17
Market Cap C$ 8,430,208
Recent Sedar Documents

Sable Resources acquires Tulox project

2017-03-21 10:12 ET - News Release

Mr. Tom Obradovich reports

SABLE RESOURCES LTD ACQUIRES THE TULOX GOLD PROJECT, SOUTH-CENTRAL BRITISH COLUMBIA

Sable Resources Ltd. has acquired the Tulox gold project located in south-central British Columbia. In consideration for the project which is being purchased from arm's-length vendors subject to the purchase agreement dated March 12, 2017, Sable will issue the vendors 200,000 common shares of the company and pay $5,000. An additional aggregate 500,000 common shares will be issued to the vendors as bonus shares in the event that Sable completes a National Instrument 43-101 technical report on the property that contains a measured and indicated resource of at least 500,000 ounces of gold within five years of the purchase agreement. All common shares issued related to this transaction will be subject to a hold period of four months plus one day.

The road accessible Tulox gold project consists of 12,918 hectares of mineral tenure in the Clinton mining division. Historical work completed by previous operators in 2006 consists of 1,434 standard soil samples and 35.75 kilometres of induced polarization and magnetometer geophysical surveys.

The acquisition is subject to the approval of the NEX board of the TSX Venture Exchange.

About Sable Resources Ltd.

Sable owns the Toodoggone gold project comprising 66 square kilometres of mineral tenure and mining leases, including the past-producing Baker and Shasta mines, and the 250-ton-per-day Baker mill and tailings facility. The project is located in north-central British Columbia, Canada, and is road accessible.

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