VANCOUVER, British Columbia, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Sable Resources Ltd. ("Sable" or the "Company") (TSXV:SAE | OTCQB:SBLRF) is pleased to announce that field exploration activities for the 2023-2024 exploration season have commenced at the Don Julio Project in San Juan, Argentina (“Don Julio”). All exploration expenditures at Don Julio are fully funded by the Earn-In Agreement between the Company and South32 signed in 2021.
The 2023-2024 exploration season work will focus on target generation along the eastern limits of the Don Julio land package, close to the western margin of Minsud Resources Corp.’s (“Minsud”) (TSX.V:MSR) mineral claims; where Minsud and South32 recently discovered the Chinchillones breccia-porphyry target. Target generation work will include mapping, geochemistry, and an IP survey along the extension of the Chita Valley within the Don Julio properties.
Dr. Ruben Padilla, Sable’s President and CEO commented, “Targets generated in this field season will be added to the list of known porphyry targets within the Don Julio project and ranked to define drill priorities for the next drilling campaign. This field season will complete the target generation work initiated by Sable in 2018 that has proven the presence of Cu-Au porphyry centers along a newly recognized NNW lineament of Miocene porphyry systems located along the Chita Valley.”
Figure 1. Location of known porphyry targets within Sable’s Don Julio land package
and Minsud’s Chita Valley project, including the recently discovered Chinchillones porphyry.
Exploration programs for both Sable and Minsud are financed by South32.
ABOUT THE DON JULIO PROJECT
The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in San Juan, Argentina. It includes the Don Julio cluster that contains numerous targets of porphyry (La Gringa, Poposa, Amarillo, Punta Cana, Tocota); intermediate sulfidation (Lodo, San Gabriel, Colorado); skarn (Fermin); and the regional properties that include the Los Pumas project as well as extensive unexplored ground. Since 2018, Sable has conducted systematic surface work including mapping, rock sampling, talus sampling, GroundMag, UAV-Mag, and induced polarization. Sable performed a first drilling campaign in 2018-2019 with 3,101m drilled in 11 holes, a second campaign in 2021- 2022 comprising 4,294m in 9 holes, and a third campaign in 2022-2023 including 5,445m in 13 holes. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don Julio project.
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 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 favorable, 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 (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.
About South32 LTD.
South32 is a globally diversified mining and metals company. The company’s purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come. South32 is trusted by its owners and partners to realize the potential of their resources. South32 produces commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from its operations in Australia, Southern Africa and South America. With a focus on growing its base metals exposure, South32 also has two development options in North America and several partnerships with junior explorers around the world.
For further information, please contact:
Ruben Padilla, President & CEO at ruben.padilla@sableresources.com or +1 (520) 488-2520
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.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce347a2a-ce0d-4794-b649-b9be6c5c01d9
