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Sable Resources Ltd (2)
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Sable samples one metre of 7.57 ppm gold at Don Julio

2018-04-16 09:31 ET - News Release

Mr. Tom Obradovich reports

SABLE RESOURCES RECEIVES 8.05G/T IN OUTCROPPING VUGGY SILICA AT DON JULIO PROJECT

Sable Resources Ltd. has released the first geochemical assay results from its continuing phase 2 rock sampling and detailed mapping program at the Don Julio project in San Juan province, Argentina. A total of 237 results have been received from sampling to delineate alteration footprints to aid targeting of mineralized zones at depth. The majority of results are from the Heaven Hill (119 samples) and Esperanza (63 samples).

Heaven Hill

The Heaven Hill target consists of a fragmentary volcanic rock intruded by dacitic domes and extensive quartz-alunite alteration cut by structures of advanced argillic alteration identified across a 1.8-kilometre-by-400-metre area. An illite-pyrite-silica zone anomalous in gold rims the west of the area. Hydrothermal breccias and a series of radial silica-alunite-dickite ledges also cut the area. Of the 119 samples collected at Heaven Hill to define the alteration footprint, 65 returned values greater than 50 parts per billion gold.

     KEY GOLD HIGHLIGHTS FROM HEAVEN 
           HILL (VUGGY SILICA)
  
  
Sample   Target zone    Sample type     Au
                                      (ppm)

E00168   Heaven Hill    1 m channel   7.57    
E00262   Heaven Hill    1 m channel   7.01    
E00171   Heaven Hill    1 m channel   4.91    
E00258   Heaven Hill    1 m channel   2.05    

   KEY GOLD HIGHLIGHTS FROM HEAVEN HILL 
               (ALTERATION)
  
Sample   Target zone    Sample type      Au
                                       (ppm)

E00153   Heaven Hill    1 m channel   0.505   
E00304   Heaven Hill          Float   0.337   
E00174   Heaven Hill    1 m channel   0.321   
E00189   Heaven Hill    1 m channel    0.32    
E00206   Heaven Hill    1 m channel   0.318   
E00205   Heaven Hill    1 m channel   0.317   
E00100   Heaven Hill    1 m channel   0.286   
E00267   Heaven Hill    1 m channel   0.264   
E00167   Heaven Hill    1 m channel    0.26    
E00099   Heaven Hill    1 m channel   0.241   
E00229   Heaven Hill    1 m channel   0.225   
E00151   Heaven Hill    1 m channel   0.222   

  KEY MERCURY HIGHLIGHTS FROM HEAVEN HILL 
                (ALTERATION)
  
Sample   Target zone    Sample type      Hg
                                       (ppm)

E00168   Heaven Hill    1 m channel     100     
E00171   Heaven Hill    1 m channel     100     
E00174   Heaven Hill    1 m channel     100     
E00246   Heaven Hill    1 m channel   17.45   
E00167   Heaven Hill    1 m channel    16.8    
E00242   Heaven Hill    1 m channel   15.75   
E00258   Heaven Hill    1 m channel    10.9    
E00259   Heaven Hill    1 m channel    6.39    
E00172   Heaven Hill    1 m channel     5.4     
E00166   Heaven Hill    1 m channel     4.3     
E00283   Heaven Hill    1 m channel    2.26    
E00175   Heaven Hill    1 m channel    2.17    
E00256   Heaven Hill    1 m channel    1.98    
E00247   Heaven Hill    1 m channel   1.545   
E00211   Heaven Hill    1 m channel   1.225   
E00241   Heaven Hill    1 m channel   1.135   
E00225   Heaven Hill    1 m channel   1.055    

Ruben Padilla, Sable's vice-president of exploration, commented: "These results are in line with the expected values within the advanced argillic alteration system at Heaven Hill. This early work was done to define the footprint of the alteration system and to determine how many drill targets we have to test. We are greatly encouraged by the size of the alteration footprint and by the fact that more than 75 per cent of our samples returned anomalous values. High mercury values up to 100 ppm indicate we are still high in the system and that the target zones have not been eroded. High-grade gold values in the vuggy silica and breccia suggest we have a strongly mineralized system at depth."

Esperanza

The Esperanza target is part of a 1.6 km by 0.5 km mineral centre affected by two mineralizing events hosted by the same fragmentary volcanic rock observed in Heaven Hill cut by dacitic domes and phreatic breccias. The phreatic breccias have rounded clasts of vuggy silica, enargite and other advanced argillic alteration types. The system is overprinted by a second dickite-kaolinite advanced-argillic alteration event. Thirty of the 63 alteration samples returned over 50 parts per billion gold.

   KEY GOLD HIGHLIGHTS FROM ESPERANZA 
              (ALTERATION)
   
Sample   Target zone   Sample type      Au
                                      (ppm)

E00058     Esperanza         Float   1.665   
E00032     Esperanza   1 m channel   0.574   
E00079     Esperanza   1 m channel   0.572   
E00007     Esperanza   1 m channel   0.248   
E00063     Esperanza   1 m channel   0.219   
E00062     Esperanza   2 m channel   0.141   
E00054     Esperanza   1 m channel   0.137   
E00022     Esperanza   1 m channel   0.137   
E00069     Esperanza   1 m channel   0.131   
E00017     Esperanza   1 m channel   0.119   
E00019     Esperanza   1 m channel   0.109   

   KEY MERCURY HIGHLIGHTS FROM ESPERANZA 
               (ALTERATION)
   
Sample   Target zone    Sample type      Hg
                                       (ppm)

E00032     Esperanza    1 m channel    7.61    
E00034     Esperanza    1 m channel    4.51    
E00041     Esperanza    1 m channel    3.66    
E00027     Esperanza    1 m channel    2.59    
E00058     Esperanza          Float    2.31    
E00016     Esperanza    1 m channel   1.675   
E00014     Esperanza    1 m channel    1.19    
E00033     Esperanza    1 m channel    1.04    

"We are encouraged again by the robust nature of the gold values in the alteration system at Esperanza. The observed overprinting advanced argillic event, combined with the gold values, indicates that we can have multiple mineralizing pulses in this area," commented Mr. Padilla, vice-president of exploration for Sable.

The 237 samples discussed in this press release are the first part of a 500-sample rock chip campaign accompanying continuing detailed geological mapping of an area of five km by five km which will build the geological framework of the whole Don Julio project and will define drill targets in a systematic geological approach. Maps and more detailed results of analysis can be obtained from the company's website.

Quality assurance/quality control

Sample preparation was carried out by ALS Argentina at its laboratory at Mendoza, Mendoza province, Argentina. Gold digestion and analysis were conducted in its laboratory in Santiago, with multielement and mercury analysis conducted in its laboratories in Lima, Peru. Samples were prepared by drying in an oven at a maximum temperature of 60 degrees, fine crushing of the sample to at least 70 per cent passing less than two millimetres, sample splitting using a riffle splitter and pulverizing a 250-gram split to at least 85 per cent passing 75 microns (code PREP-31).

Gold was analyzed by fire assay of a 50-gram sample split with detection by atomic absorption spectrophotometer (AAS) (code Au-AA24). Multielements were analyzed by a four-acid near-total digestion of a one-gram subsample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 33 elements (silver, aluminum, arsenic, barium, beryllium, bismuth, calcium, cadmium, cobalt, chromium, copper, iron, gallium, potassium, lanthanum, magnesium, manganese, molybdenum, sodium, nickel, phosphorus, lead, sulphur, antimony, scandium, strontium, thorium, titanium, thallium, uranium, vanadium, tungsten and zinc) (code ME-ICP61). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Mercury was analyzed by aqua regia digestion, cold vapour extraction, inductively coupled plasma mass spectrometer (ICP-MS) with a lower limit of detection of 0.005 ppm (code Hg-MS42).

Luis Arteaga, BSc, PGeo, exploration manager for Sable Resources and the company's qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.

About the Don Julio project

The Don Julio project is defined by an extensive five km by five km Miocene lithocap located in the Cordillera Frontal of Argentina. The lithocap affects a package of fragmentary volcanic rocks intruded by dacitic domes and phreatic breccias associated with and affected by an advanced argillic mineralizing event. A large anomalous precious metal footprint is coincident with the lithocap and associated with the advanced argillic mineralizing event. Field evidence indicates that the erosion level is high with high probability of preservation of a mineralized system. Sable is working in a systematic way to model the hydrothermal up-flow zones that will define drill targets at depth. Sable believes Don Julio represents the southern extension of the prolific El Indio-Pascua belt.

About Sable Resources Ltd.

Sable is a well-financed junior grassroots explorer focused on the discovery of new precious metal projects through systematic exploration in endowed terranes located in favourable and established mining jurisdictions. Sable's main focus is developing its large portfolio of new greenfield projects to resource stage utilizing its upper-level epithermal strategy. Sable is actively exploring the San Juan regional program (48,000 hectares), incorporating the Don Julio project in San Juan province, Argentina, the Mexico regional program (1.5 million hectares), incorporating the Margarita, Vinata and El Escarpe drill-ready projects, and the B.C. intrusion-related program in Canada (13,600 hectares), incorporating the drill-ready Tulox project.

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