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    SAE   CA7857133069

SABLE RESOURCES LTD.

(SAE)
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Sable Resources : Provides Exploration Update Reporting 14.5km of Veins and 15,000m Phase 2 Drill Plan at El Fierro

08/31/2021 | 07:01am EDT

VANCOUVER, BC, Aug. 31, 2021 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to provide an exploration update on work completed at El Fierro project, San Juan Province, Argentina.  In addition, the Company is providing details for its upcoming exploration season.  El Fierro has grown from discovery in July 2020 to become Sable's flagship exploration project.  Sable is planning an aggressive exploration campaign for the next summer including extensive drilling, geophysics and trenching.

Highlights of Last Field Season Exploration Work

  • Sable controls a 46,391 hectare land position, consolidating all the historically known mineralized areas plus district-scale unexplored areas over a large magnetic anomaly and a highly prospective Miocene volcanic basin.
  • Known mineralization is represented by high-grade Ag-Pb-Zn and Ag-Au (Pb, Zn) epithermal veins with multiple surface results of greater than 1,000 g/t AgEq (Sable's 2020 and 2021 previous press releases.
  • Mapping of trenches, boulders, sub-crops and outcrops has increased the known strike length of veins to over 14.5 linear kilometres defining an extensive footprint of 8.6 by 6.2 km consisting of four mineralized zones - Fierro Bajo, Fierro Alto, La Verde and Lagunitas.
  • In late 2020 and early 2021, Sable completed a 264 kilometre Ground Magnetics survey and a 78 kilometre Induced Polarisation electrical survey.  Both surveys have proven to be excellent tools to map the along strike projection of veins and structures in a terrain largely cover by thin Quaternary gravels.
  • A total of 1,500 m of trenches, 847 rock samples and 509 soil samples have been collected in the project returning outstanding rock assays including 17,531 g/t AgEq, 4,552 g/t AgEq, and 2,611 g/t AgEq.
  • In February 2021, Sable started the first drilling campaign ever conducted at El Fierro completing 25 holes totalling 3,278 metres. Multiple high-grade intercepts have been released since April including 4,381 g/t AgEq over 0.5m within 546.78 g/t AgEq over 9.95 m and 1,556 g/t AgEq over 0.5m within 783.8 g/t AgEq over 1.0m, among others.
  • The initial drilling has successfully confirmed the continuity of the high-grade veins encountered at surface to a vertical depth of up to 90m.

Dr. Ruben Padilla, Chief Executive Officer of Sable commented: "We're very proud of the rapid advance that the project has experienced in one year and of the hard work of our geology team in Argentina.  Our next field season starting in September will be a breakthrough for the project as we increase our drilling to test the impressive El Fierro footprint."

Key Points of Sable's Upcoming Exploration Program:

  • Up to 15,000 metres of drilling to define potential AgEq ounces within known veins, focused on:
    • Definition of the 3D geometry, size, and grade of the well-mineralized sections of veins intercepted during the last field season at Fierro Bajo and La Verde to explore the full extent of these vein systems.
    • Testing down-dip and along strike continuity of the newly discovered Lagunitas vein system.
  • An additional 900 kilometres of Ground Magnetics and 50 kilometres of Induced Polarisation geophysical surveying.
  • Acquisition of 284 square kilometres of high resolution satellite imagery and alteration mineral modelling to support regional exploration within unexplored parts of the property.
  • Drilling will initiate in October with two diamond drill rigs.
  • Sable is fully funded to complete the planned program.

ABOUT EL FIERRO PROJECT

The El Fierro Project is located 250 km northwest of San Juan, Argentina and 120 km north of Sable's Don Julio Project in one of the best-known historical mining districts in the San Juan province.  The El Fierro Project consists of four main known mineralized areas - Fierro Alto, Fierro Bajo, La Verde, and Lagunitas over an area of 8.6 km x 6.2 km.  Three of the four areas host a number of old artisanal mining workings where silver, lead and zinc were intermittently mined since the late 1800's until the 1960s. Prior to Sable's 2021 drill program, the Property had never been drilled before.  Sable currently controls 46,391 hectares covering all the historically mineralized areas and additional highly prospective ground over a large magnetic anomaly.

ABOUT SABLE RESOURCES LTD.

Sable is a well-funded junior grassroots explorer focused on the discovery of new precious metal projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable's main focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (128,992 ha) incorporating the Don Julio, El Fierro, La Poncha, and los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.

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).

Gold was analyzed by fire assay of a 30 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES); multi-elements were analyzed by an aqua regia digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Over limit Ag, Cu, Pb, Zn OG46 analyses are conducted when samples exceed the upper detection limits; this method includes Aqua Regia digestion and ICP-AES finish. For Pb>20%, and Zn>30%, tritration method is applied (Pb-VOL70, Zn-VOL50). Method Ag-GRA22 which includes Fire Assay with gravimetric finish is applied when Ag exceeds 1500 g/t. Control samples (standards, blanks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.

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.

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 .

SOURCE Sable Resources Ltd.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2020 - - -
Net income 2020 4,41 M 3,56 M 3,56 M
Net cash 2020 20,3 M 16,4 M 16,4 M
P/E ratio 2020 17,5x
Yield 2020 -
Capitalization 62,3 M 50,4 M 50,3 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 75,6%
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Ruben Padilla President, Chief Executive Officer & Director
Kelso Cartwright Chief Financial Officer
Thomas J. Obradovich Executive Chairman
Brent Gilchrist Independent Director
AndrÚs Tinajero Independent Director
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