Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Sable Resources Ltd.
  6. News
  7. Summary
    SAE   CA7857133069

SABLE RESOURCES LTD.

(SAE)
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Sable Resources : Receives 1,101 g/t AgEq over 1.0m with the Discovery of a New >1,500m Long Vein System at El Fierro

08/24/2021 | 07:01am EDT

VANCOUVER, BC, Aug.  24, 2021 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to provide drilling and surface results from the Lagunitas vein system, the latest discovery within El Fierro Project in San Juan, Argentina. In early February, Sable started the first drill campaign ever conducted at the Project. Surface samples and drill holes included in previous press releases reported multiple high-grade Ag-Au (Pb-Zn) results within a vein field that extends for over an area of 8.6 x 6.2 km.

Key Points:

  • Trenching and mapping of a few small outcrops define the new vein system for over 1,500m, remaining open in all directions. None of the high-grade veins released today were outcropping.
  • Samples results from trenching returned high-grade values from at least three different veins within the Lagunitas vein system. Highlighted results from these veins include:
    Caramelo Vein
    • 1,031 g/t AgEq (127 g/t Ag; 0.75% Cu; 12.35% Pb; 10.01% Zn) over 1.0
      Within
      • 156.69 g/t AgEq (53.07 g/t Ag; 0.1% Cu; 1.28% Pb; 1.19% Zn) over 12.

Almendra Vein

    • 1,101.74 g/t AgEq (289 g/t Ag; 2.67 g/t Au; 0.94% Cu; 8.26% Pb; 5.13% Zn) over 1.0m
    • 689 g/t AgEq (605 g/t Ag; 0.13 g/t Au; 0.84% Pb; 1.08% Zn) over 1.4m

Canela Vein.

    • 538.31 g/t AgEq (11.5 g/t Ag; 0.1% Cu; 0.2% Pb; 12.15% Zn) over 0.25m
  • Drill hole LV-DH-21-19 was collared targeting a subcropping quartz vein in a highly covered zone. The hole intercepted 356.30 g/t AgEq (237.54 g/t Ag; 2.21% Pb; 1.11% Zn) over 2.40m within a wide fault zone that includes multiple veins, veinlets, and fault breccias returning 87.31 g/t AgEq (35.27 g/t Ag; 0.71% Pb; 0.68% Zn) over 40.6m.

"The definition of the 1,500+m along strike extension of a new vein system largely covered by thin Quaternary gravels is proof of the discovery potential at the El Fierro Vein Field," stated Dr. Ruben Padilla, Sable's President and CEO, who added, "The combination of high-grade veins within wider lower-grade intervals, the 400m higher elevation of Lagunitas to La Verde as well as the mineralogy and textures suggest that we're still above the bonanza zone of the system.   These well developed and subparallel vein systems of La Verde and Lagunitas will be an integral part of our next exploration campaign."

Figure 1. Location of Lagunitas zone with respect to La Verde zone (CNW Group/Sable Resources Ltd.)

Lagunitas is located 2 km north of La Verde zone (Figure 1).  Mineralization at Lagunitas is hosted within a Miocene rhyolite dome and is characterized by silica-clay alteration, quartz-barite veins with pyrite, chalcopyrite, galena, and sphalerite.  Most of the structures were entirely concealed beneath 1 or 2 metres of Quaternary gravels and did not have any mining workings associated.  The Lagunitas system as known today extends for over 1.5 km in an east-northeast direction and remains open in all directions.  Drill holes LV-DH-21-19 and LV-DH-21-20 were the only holes drilled in this structural zone, with Hole 19 returning a wide mineralized intercept and Hole 20 also returning several anomalous intercepts.  Known individual veins within the Lagunitas vein system include the Lavanda, Caramelo, Violeta, and the Canela veins (Figures 3 and 4). 

Figure 2. Schematic section showing the mineralized interval in hole LV-DH-21-19 (CNW Group/Sable Resources Ltd.)

Figure 3. Significant values from trenching on new veins from the Lagunitas zone (CNW Group/Sable Resources Ltd.)

Figure 4. Location and orientation of the Canela structure showing relevant results from channel samples (CNW Group/Sable Resources Ltd.)

A full list of drill intercepts from Lagunitas' drillholes is presented below:

Hole

From

To

Interval

(m)

AgEq

(g/t)

Ag

(g/t)

Au

(g/t)

Pb

(%)

Zn

(%)

LV-DH-21-19

7.25

8.25

1.00

180.20

25.70

0.37

0.95

2.22

LV-DH-21-19

40.50

48.00

7.50

52.60

9.39


0.37

0.74

LV-DH-21-19

58.50

99.10

40.60

87.31

35.27


0.71

0.68

Including

78.10

91.50

13.40

159.31

74.16


1.34

0.99

Including

84.60

87.00

2.40

356.30

237.54


2.21

1.11

LV-DH-21-20

37.90

41.50

3.60

33.18

1.15


0.25

0.57

LV-DH-21-20

63.45

64.55

1.10

85.26

17.56


0.82

0.97

LV-DH-21-20

122.20

124.85

2.65

30.05

3.94


0.34

0.35

Drill holes are planned perpendicular to known structures and in some cases, the drill holes intercept additional structures for which true width is not necessarily known.  Trenches are excavated to a depth of up to 5m, until reaching the bedrock, then systematically mapped and sampled in channels of maximum 2m; most of the trenches are excavated perpendicular to the structures representing true width.  In a few cases, trenches are slightly oblique to the structures representing around 60% true width.  Channel samples on outcrops and adits are taken perpendicular to structures and represent true width.  Results tables associated with this press release will be available on Sable's website (www.sableresources.com).  Silver equivalent (AgEq) is calculated based on 100% recovery and prices of USD 18.0 per oz for silver; USD 1,500 per oz for gold; USD 0.85 per pound for lead; USD 1.10 per pound for zinc; and USD 3.0 per pound for copper. Cu, Pb, Zn values lower than 0.1%, and Au values lower than 0.1 g/t have not been considered within the AgEq calculation.

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.

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).

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

All news about SABLE RESOURCES LTD.
10/14SABLE RESOURCES : Initiates Summer Activities in San Juan Projects in Argentina and Announ..
AQ
10/14Sable Initiates Summer Activities in San Juan Projects in Argentina
CI
09/20SABLE RESOURCES : Jumps Near 18% as Says to Launch 25,000-Meter Drill Campaign on Three Pr..
MT
09/20SABLE RESOURCES : to Launch 25,000-Meter Drill Campaign on Three Projects
MT
09/20Sable Resources Ltd. Presents Exploration Plan for Upcoming Season, Including 25,000M o..
CI
09/20SABLE RESOURCES : Presents Exploration Plan for Upcoming Season, Including 25,000m of Dril..
AQ
08/31SABLE RESOURCES : Provides Exploration Update Reporting 14.5km of Veins and 15,000m Phase ..
AQ
08/31Sable Resources Ltd. Provides Exploration Update Reporting 14.5km of Veins and 15,000m ..
CI
08/30Sable Resources Ltd. Reports Earnings Results for the Second Quarter Ended June 30, 202..
CI
08/25SABLE RESOURCES : Receives 1,101 gt AgEq over 1.0m with the Discovery of a New 1,500m Long..
AQ
More news
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 56,7 M 45,9 M 45,9 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 67,6%
Chart SABLE RESOURCES LTD.
Duration : Period :
Sable Resources Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Ruben Padilla President, Chief Executive Officer & Director
Kelso Cartwright Chief Financial Officer
Thomas J. Obradovich Executive Chairman
Brent Gilchrist Independent Director
Andrés Tinajero Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SABLE RESOURCES LTD.-41.43%46
BHP GROUP-9.52%143 275
RIO TINTO PLC-7.68%113 455
GLENCORE PLC63.39%70 873
ANGLO AMERICAN PLC17.12%47 550
GRUPO MÉXICO, S.A.B. DE C.V.13.52%36 158