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Sable Resources Ltd (2)
Symbol SAE
Shares Issued 120,727,164
Close 2018-05-16 C$ 0.26
Market Cap C$ 31,389,063
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Sable channel samples 1 m of 8.75 ppm Au at Don Julio

2018-05-16 07:49 ET - News Release

Mr. Tom Obradovich reports

SABLE RESOURCES RECEIVES ADDITIONAL SURFACE RESULTS FROM THE DON JULIO PROJECT

Sable Resources Ltd. has released additional geochemical assay results from the phase 2 work/drill target definition program at the Don Julio project, San Juan province, Argentina.

A total of 515 rock chip samples were collected this year accompanying detailed geological mapping over an area of five by five kilometres characterized by fragmental volcanic rocks, hydrothermal breccias and domes affected by high-sulphidation epithermal alteration related to a multiphase volcanic edifice. The purpose of the sampling is to test gold anomalism of alteration at surface and define drill targets interpreted to be 200 to 400 metres below the surface alteration.

This press release discusses the results from a new batch of geochemical analysis from 94 surface rock chip grab samples. The majority of results are from the Heaven Hill (72 samples) with other samples from Esperanza (11 samples), and the remainder from other peripheral zones. All grab samples are selective by nature and values reported may not be representative of mineralized zones.

Heaven Hill

The Heaven Hill target is characterized by a large 1.8 km by 400 m advanced argillic alteration zone characterized by quartz-alunite and dickite. Gold-bearing hydrothermal breccias and a series of radial silica-alunite-dickite and vuggy silica ledges cut the area and represent expressions of Sable's intended drill targets 200 to 400 m below the surface alteration zones. Of the 72 samples from Heaven Hill reported in this press release 38 returned values greater than 0.05 gram per tonne gold. High mercury values (greater than one g/t) indicate a low level of erosion above the mineralized system.

Esperanza

The Esperanza target is part of a 1.6 by 0.5 km mineral centre affected by two mineralizing events hosted by the same fragmental volcanic rock observed in Heaven Hill cut by dacitic domes and phreatic breccias. A thin layer of postmineral epiclastic and pyroclastic rocks covers the central zone of Esperanza. Seven of the 11 new results reported values greater than 0.05 g/t gold in alteration. These samples are mostly from the western limit of the Esperanza target zone and better define the robust gold anomaly associated with the large alteration footprint of this target zone.

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

E00368                 Grab           34.6
E00365          1 m channel           8.75
E00367        0.5 m channel           3.67
E00361          2 m channel            2.4
E00385          1 m channel          1.305
E00328          1 m channel          0.839
E00321          1 m channel          0.595
E00297          4 m channel          0.557

  KEY MERCURY HIGHLIGHTS FROM HEAVEN HILL 
  
Sample          Sample type        Hg (g/t)

E00368                 Grab           >100
E00328          1 m channel           76.4
E00387          1 m channel           11.9
E00361          2 m channel           6.34
E00385          1 m channel           3.46
E00365          1 m channel           2.94
E00330          1 m channel          1.085
E00321          1 m channel           1.59

Ruben Padilla, Sable vice-president of exploration, commented: "The majority of the additional geochemical results reported in this press release are from the Heaven Hill target. They reinforce the quality of the target which is characterized by a large footprint of low-grade gold pervasive quartz-alunite-dickite rimmed by smectite-illite-chlorite alteration and cut by higher gold grade vuggy silica ledges and silicified breccia dikes, all associated with anomalous mercury values. This is typical of well-preserved advanced argillic epithermal systems where the high-grade silica narrow ledges and breccia dikes are considered the style of mineralization that we are targeting below the large quartz-alunite blanket"

Maps and more detailed results of analysis of these sample and previously released samples can be obtained from the Sable website.

Quality assurance/quality control

All samples were collected by company representatives under the supervision of the qualified person and transported directly by the company to the lab. Sample preparation was carried out by ALS Argentina at its laboratory at Mendoza, Mendoza province, Argentina. Gold, multielement and mercury analysis was conducted in its laboratories in Lima, Peru. Sample preparation was by drying in an oven at a maximum temperature of 60 C, 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 (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (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 part per million (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 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, established mining jurisdictions. 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 British Columbia intrusion related program, Canada (13,600 hectares), incorporating the drill-ready Tulox project.

We seek Safe Harbor.

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