Mr. Tom Obradovich reports
SABLE RESOURCES LTD OPTIONS THE MARGARITA SILVER PROJECT, MEXICO
Sable Resources Ltd. has signed a definitive agreement dated
May 30, 2017, to option 100 per cent of the Margarita silver project in Chihuahua state, Mexico, from an arm's-length vendor.
The project consists of two mining exploration licences totalling 125 hectares of ground with an
approximate strike length of 1.7 kilometres, has never been drill tested, is fully surrounded by Sunshine
Silver Mine Corp.'s Los Gatos project exploration licences and is located 20 kilometres northwest of Cerro
Los Gatos deposit.
Under the terms of the agreement, which is subject to approval by the TSX Venture Exchange, and in order to obtain a 100-per-cent interest the property, Sable will:
- Make payment of $50,000 to the vendor upon execution of the agreement;
-
Upon exchange approval, issue the vendor 200,000 common shares of Sable;
-
Issue $500,000 worth of common shares in Sable on or before the one-year anniversary
date of the execution of the agreement valued at the date of issue, less the value of the 200,000
common shares issued upon exchange approval;
-
Issue $1-million worth of common shares in Sable on or before the two-year anniversary
date of the execution of the agreement valued at the date of issue;
-
Issue $2-million worth of common shares in Sable on or before the three-year
anniversary date of the execution of the agreement valued at the date of issue.
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.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.