19:50:38 EDT Thu 31 Oct 2024
Enter Symbol
or Name
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Sable Resources Ltd (2)
Symbol SAE
Shares Issued 286,364,899
Close 2023-09-13 C$ 0.055
Market Cap C$ 15,750,069
Recent Sedar Documents

ORIGINAL: Sable Announces Initial Surface Results from New Gold-Copper Targets at La Poncha Project

2023-09-13 11:37 ET - News Release

Sable Announces Initial Surface Results from New Gold-Copper Targets at La Poncha Project

Canada NewsWire

VANCOUVER, BC, Sept. 13, 2023 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce initial sampling results from the recently discovered Zonda and Campamento targets located within the La Poncha project in San Juan, Argentina. Both areas were discovered during the regional exploration work conducted last season across the large land package controlled by the Company at La Poncha Project. At the Zonda target, 173 rock samples were collected with values up to 16.8 g/t Au, 53 g/t Ag and 1.1% Cu. At the Campamento target, 73 rock samples were collected with values up to 1.5% Cu, 154 g/t Ag, 3.1% Pb, 1.8% Zn and 2.07 g/t Au.

Dr. Ruben Padilla, President and CEO of Sable stated, "These two new areas are the product of the continuous "boots on the ground" prospecting activity conducted on our large land package and feed our portfolio of Greenfields targets. The quality of these two new target areas is evident by the number of samples with high gold and copper results and by the size of the areas covered by the anomalous samples. Additional work will be completed to map the full footprint of the mineralization."

Zonda

The Au-Ag-Cu Zonda target is located on the southern portion of La Poncha claims, 15km south of the Poncha North target, and only 800m south of the road to Barrick's Veladero mine. Although detailed mapping is in progress, the geology of the area is characterized by Carboniferous sediments of the Agua Negra Formation intruded by multiple rhyolite dykes likely of Permian age; a large extension of Permian granite is observed on the southwest part of the target. The gold mineralization at Zonda is focused on a series of quartz-barite veins and veinlets preferentially hosted in the rhyolite dykes but also observed in the sedimentary rocks. The width of the veinlets varies from 1 cm to almost 60cm, forming continuous zones of veining up to 14m wide. The orientation of the structures is WNW and the only observed sulfide is pyrite which is mostly oxidized; Ba, As, and Sb anomalies suggest an epithermal affinity for the mineralization. From 173 samples collected, 30 samples exceeded 1 g/t Au and 17 samples exceeded 3 g/t Au, reaching maximum values of 16.8 g/t Au - see Table 1.

Although mineralization at Zonda is mostly gold with some silver credits, a new zone located to the SW of the main mineralized area is showing abundant Cu mineralization as Cu oxides and partly oxidized chalcopyrite, hosted within Permian granites; the mineralization has been mostly observed as float and subcrop since the entire area is heavily covered with colluvial material. Samples in this style of mineralization have returned values up to 1.1% Cu and 53 g/t Ag - see Figures 2 and 3.

Figure 1. Location of new targets within the La Poncha land package. (CNW Group/Sable Resources Ltd.)

Figure 2. Distribution of samples at the Zonda target.  Squares show Cu values and circles on top represent Au values.  Currently, two main zones have been identified - a central high-grade Au zone and a Cu-rich zone located 1km WSW. (CNW Group/Sable Resources Ltd.)

Figure 3. Detail of the main gold zone at Zonda highlighting some of the highest Au values (CNW Group/Sable Resources Ltd.)

Campamento 

The Cu-Ag-Pb-Zn Campamento target is located on the central-eastern portion of the Poncha land package, 9.5 km SE of the Poncha North target. Mineralization found at Campamento is exclusively hosted in Permian granites in the form of chalcopyrite and Cu-oxides in quartz tourmaline veinlets. The structural setting is still to be understood but the anomalous copper zones seem to define a NNE corridor while individual veinlets are mostly NS oriented. 73 samples have been collected so far from which 18 contain >0.1% Cu and nine returned >0.5% Cu. The mineralogical and geochemical association may indicate an Intrusion Related mineralization style.

Figure 4. Detail of the Cu values at the Campamento target. (CNW Group/Sable Resources Ltd.)

Future Work

Both Campamento and Zonda targets are in a very early stage and will become an active part of the 2023-2024 field season. The lower elevation and easy access at the Zonda target have allowed to advance exploration work during the winter months. A 1,106 soil samples grid was just completed at Zonda, and the samples are currently being analyzed at ALS labs. Additional mapping, sampling, trenching, and geophysics will be part of the exploration plan during the next months.

Highlighted Samples

Zonda

Sample

Site

Type

Width

Primary

Ag

(ppm)

Au

(ppm)

Cu

(ppm)

Pb

(ppm)

Zn

(ppm)

E33163

Outcrop

Grab


Rhyolite

7.65

16.8

44.6

35.3

105

E33162

Outcrop

Channel

0.6

Rhyolite

14.55

14.05

55.9

33.4

57

E33152

Outcrop

Grab



4.88

12.6

41.2

388

78

E33186

Outcrop

Grab


Rhyolite

1.38

7.83

16.6

165

55

E33190

Outcrop

Channel

0.3

Rhyolite

1.06

6.99

25.6

118

248

E33368

Outcrop

Channel

1

Sandstone

1.48

4.96

153

31.7

66

E33187

Outcrop

Channel

0.7

Rhyolite

1.03

4.09

24.3

123.5

54

E33153

Outcrop

Channel

0.3

Rhyolite

0.98

3.74

35.3

113

17

E33167

Outcrop

Channel

1

Rhyolite

1.5

3.71

33.6

19.3

130

E33290

Outcrop

Grab


Sandstone

0.79

3.51

35.4

383

68

E33100

Outcrop

Grab


Rhyolite

1.24

3.47

12.4

77.7

35

E33168

Outcrop

Channel

1

Sandstone

1.78

3.3

18

17.8

51

E33101

Outcrop

Grab


Rhyolite

26.2

3.14

10.4

240

113

E33191

Subcrop

Grab


Rhyolite

0.77

3.12

19.7

37.2

64

E33158

Outcrop

Channel

0.25

Rhyolite

5.09

2.99

24

98.8

13

E33170

Outcrop

Channel

0.5

Rhyolite

1.91

2.95

42.4

177.5

265

E33193

Outcrop

Channel

0.5

Rhyolite

3

2.67

9.6

89.3

35

E33318

Outcrop

Grab


Rhyolite

2.86

2.62

24.6

141

160

E33161

Outcrop

Channel

2

Rhyolite

5.33

1.675

72.4

41.6

25

E33192

Outcrop

Channel

1

Rhyolite

1.34

1.59

23.2

699

556

E33165

Outcrop

Channel

2

Rhyolite

4.09

1.54

52.4

25.5

61

E33164

Outcrop

Channel

2

Rhyolite

8.03

1.415

63.2

34.9

162

E33156

Outcrop

Channel

1

Rhyolite

3.74

1.415

38.1

114.5

41

E33195

Outcrop

Grab


Rhyolite

0.52

1.2

10.2

30.7

34

E33169

Subcrop

Grab


Sandstone

0.75

1.07

28.5

9.4

14

E33194

Outcrop

Grab


Rhyolite

0.44

0.996

24

78.8

120

E33367

Outcrop

Grab


Sandstone

0.37

0.937

50.7

43.8

452

E33284

Outcrop

Channel

0.4

Sandstone

0.55

0.597

43

48

415

E33160

Outcrop

Channel

1.2

Rhyolite

0.83

0.54

35.5

26.9

10

E33373

Outcrop

Channel

1.7

Sandstone

1.26

0.532

64.5

11.9

33

E33157

Outcrop

Channel

2

Rhyolite

2.32

0.503

50.9

29.9

28

E33173

Outcrop

Channel

2

Vein

0.45

0.389

62.9

5

23

E33320

Outcrop

Grab


Sandstone

0.77

0.363

60.3

597

199

E33198

Outcrop

Channel

0.4

Rhyolite

0.59

0.351

33.1

34.3

20

E33357

Float

Grab


Rhyolite

1.14

0.344

79

413

196

E33311

Outcrop

Grab


Sandstone

1.15

0.302

49.4

82

624

E33309

Outcrop

Grab


Rhyolite

0.88

0.284

32.9

155

243

E33200

Outcrop

Channel

0.3

Rhyolite

0.82

0.268

50

58.5

62

E33372

Outcrop

Channel

2

Vein

3.07

0.235

106.5

20.8

27

E33197

Outcrop

Grab


Sandstone

0.52

0.22

25.2

88.5

54

E33291

Outcrop

Grab


Vein

1.04

0.201

18.4

22.4

20

E04418

Float

Grab


Rhyolite

0.1

0.173

42

31

76

E33369

Outcrop

Channel

0.5

Breccia

0.41

0.168

151

6

35

E04417

Dump

Grab


Andesite

0.3

0.165

8

91

35

E33155

Outcrop

Channel

2

Rhyolite

0.29

0.129

18

13.8

34

E33271

Float

Grab


Granite

53

0.043

11,000

3,330

2,100

E33305

Float

Grab


Sandstone

11.6

0.022

1,185

1,085

278

E33319

Float

Grab


Granite

22.4

0.02

8,230

35.7

66

E33317

Outcrop

Grab


Rhyolite

0.12

0.019

23.1

10.6

1,425

E33303

Subcrop

Grab


Granite

4.16

0.018

9,660

598

632

E33304

Outcrop

Channel

0.15

Vein

7.32

0.014

2,660

20.5

138

E33275

Float

Grab


Granite

41.2

0.012

5,160

3,260

1,065

E33272

Subcrop

Grab


Granite

8.27

0.007

2,140

112.5

232

E33268

Outcrop

Grab


Sandstone

5.06

0.007

1,890

18

65

E33300

Outcrop

Grab


Sandstone

11.15

0.005

8,100

42.7

160

E33302

Float

Grab


Granite

7.14

0.0025

4,280

314

792

Table 1. Highlighted samples from the Zonda target.

 

Campamento

Sample

Site

Type

Width
(m)

Primary

Ag

(g/t)

Au

(g/t)

Cu
(ppm)

Pb

(ppm)

Zn

(ppm)

Mo

(ppm)

E30536

Outcrop

Channel

0.2

Granite

33.7

0.016

15,250

168

18,350

5

E04398

Float

Grab


Granite

154

0.011

10,500

901

1,020

8

E33148

Float

Grab


Granite

7.57

0.0025

9,940

11,000

1,585

203

E33120

Outcrop

Grab


Granite

43.7

0.005

9,370

18,150

3,450

113

E33122

Workings

Grab


Granite

24

0.0025

8,860

31,200

2,390

45.9

E33128

Outcrop

Grab


Granite

45.5

0.005

7,330

2,380

7,180

321

E33133

Outcrop

Grab


Granite

11.75

0.0025

6,250

6,680

2,980

126

E04400

Float

Channel

0.3

Granite

87.6

0.015

5,940

540

307

12

E33115

Float

Grab


Granite

126

0.005

5,430

9,120

2,260

45.1

E04409

Outcrop

Channel

0.8

Granite

10.2

0.001

4,310

262

1,950

8

E30535

Outcrop

Channel

0.2

Granite

1.8

0.001

3,980

89

168

7

E30533

Float

Grab


Granite

2.2

0.0005

3,020

103

166

2

E33121

Outcrop

Channel

2

Granite

14.95

0.022

2,500

11,550

1,945

101.5

E33134

Outcrop

Grab


Granite

2.52

0.0025

1,635

131

171

6.04

E30722

Outcrop

Grab


Vein

14.3

0.006

1,320

420

1,470

9

E04410

Outcrop

Channel

0.4

Granite

1.7

0.0005

1,310

77

77

3

E30531

Outcrop

Channel

0.1

Granite

2.6

0.006

1,185

120

2,050

4

E33110

Outcrop

Grab


Granite

3.15

0.006

1,135

57.9

5,560

11.3

E33126

Outcrop

Grab


Granite

0.14

0.0025

771

26.4

418

3.7

E33130

Float

Grab


Granite

13.25

0.0025

659

1,405

3,830

7.3

E33132

Outcrop

Grab


Granite

1.59

0.0025

572

254

2,400

9.18

E33125

Float

Grab


Granite

15.55

0.0025

550

559

1,595

3.84

E04272

Float

Grab


Rhyolite

5.3

2.07

386

1,505

1,490

17

E33114

Outcrop

Grab


Granite

3

0.0025

183.5

108.5

250

7.3

E04331

Outcrop

Channel

0.4

Granite

1.9

0.0005

174

769

488

9

E30546

Outcrop

Channel

0.5

Granite

0.4

0.0005

155

85

742

10

E04412

Subcrop

Grab


Granite

0.3

0.002

143

79

6,080

10

Table 2. Highlighted samples from the Campamento target.

 

QUALIFIED PERSON

Luis Arteaga M.Sc. P.Geo., Vice President Exploration is the Company's Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this news release.

ABOUT THE LA PONCHA PROJECT

In March 2021, the Company signed an option agreement for the La Poncha Project comprising 18,114 hectares and located 69 km north of Don Julio and 50 km south of the El Fierro Project. The La Poncha Project was explored by at least three companies in the past including Golden Arrow (2008), Teck (2009), and Genesis Minerals (2012). These companies completed limited drilling on the property with several encouraging intercepts publicly released at the time. Historical highlights obtained by Golden Arrow in 2008 include 266m @ 1.21 g/t Au and 3.30 g/t Ag (129m395m); 61m @ 3.04 g/t Au and 7.16 g/t Ag (270m331m) and multiple other intercepts from 2008. In 2012, Genesis Minerals released 12.15m @ 4.87 g/t Au, 15.9 g/t Ag and 0.49% Zn. In 2022, Sable drilled 2,216m at the Poncha North target obtaining long intercepts of strongly anomalous gold.

ABOUT SABLE RESOURCES LTD.

Sable is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favourable, established mining jurisdictions. Sable's focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, La Poncha, and Los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.6Mha in application, 26,373ha titled) incorporating the Vinata and El Escarpe projects.

Related link: sableresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.

SAMPLE PREPARATION AND QA/QC

Sample preparation for projects in Argentina is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at its facility located in Mendoza, Argentina. Analyses are carried out at their laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31). The holes contained in this press release were analyzed by methods Au-AA24 (Fire Assay Fusion and Atomic Absorption Spectrometry finish) and ME-MS61 (Four Acid Digestion with Mass Spectrometry finish); the latter includes 48 elements (Al, Ag, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Both digestion methods dissolve most minerals but not all elements are quantitatively extracted in some sample matrices. Control samples (standards, blanks, and duplicates) are inserted systematically, and their results are evaluated according to the Company protocols.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Sable's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Sable's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

While Sable considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions and the COVID-19 pandemic, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

The forward-looking information contained in this release is made as of the date hereof, and Sable is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Sable Resources Ltd. Logo (CNW Group/Sable Resources Ltd.)

SOURCE Sable Resources Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2023/13/c9448.html

Contact:

Ruben Padilla, President & CEO at ruben.padilla@sableresources.com or +1 (520) 488-2520

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