04:37:07 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Sable Resources Ltd (2)
Symbol SAE
Shares Issued 49,676,957
Close 2017-04-18 C$ 0.16
Market Cap C$ 7,948,313
Recent Sedar Documents

Sable Resources acquires Bot Deal project in B.C.

2017-04-18 12:33 ET - News Release

Mr. Tom Obradovich reports

SABLE RESOURCES LTD ACQUIRES THE BOT DEAL PROJECT, NORTH-CENTRAL BRITISH COLUMBIA

Sable Resources Ltd. has acquired the Bot Deal project located in north-central British Columbia. The project has been acquired by purchasing six claims totalling 242 hectares from an arm's-length vendor and by staking an additional 3,031 hectares of mineral tenures. Under the terms of the purchase agreement dated April 11, 2017, Sable will pay the arm's-length vendor $7,500 and issue 400,000 common shares of the company in consideration of the claims. 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 arm's-length vendor's claims 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 Bot Deal project is located approximately 35 kilometres north of the company's flagship Toodoggone gold project, which consists of two past-producing mines and the 250-tonne-per-day Baker mill and tailings facility. Historical work completed by a previous operator on the Bot Deal project between 2004 and 2006 consisted of prospecting and mapping, with reported expenditures in excess of $95,000.

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 tenures and mining leases, including the past-producing Baker and Shasta mines, and the 250 tonne-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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