Sable provides end of year exploration update from Don Julio Project in San Juan

The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in San Juan, Argentina.

Sable Resources Ltd. (“Sable” or the “Company”) (TSXV:SAE | OTCQB:SBLRF) is pleased to provide an update on the most recent exploration activities at the Don Julio Project in San Juan, Argentina (“Don Julio”).  All exploration expenditures at Don Julio are fully funded under the Earn-In Agreement between the Company and South32, signed in 2021.

Highlights

• 21 km of IP survey were completed along the Chita Valley, obtaining two new chargeability anomalies that have become direct drilling targets.
• Detailed mapping and sampling was initiated at the Tocota porphyry target.  Partial results from rocks samples reported up to 4.05 g/t Au; 30.9 g/t Ag; and 0.1% Cu and 1.52 g/t Au; 66.8 g/t Ag; and 0.26% Cu.
• A soil grid of 628 samples was completed at the Tocota porphyry target, with results expected mid-January.

Tocota Porphyry Target

The Company has completed the road access to the Tocota porphyry target and initiated detailed mapping of the area.  Results have been received for new rock samples collected during the month of November.   Highlighted values include up to 4.05 g/t Au; 30.9 g/t Ag; and 0.1% Cu in a vuggy silica float; and 1.52 g/t Au; 66.8 g/t Ag; and 0.26% Cu in a silica sulphate structure with evidence of advanced argillic alteration. These two samples are located 1.3 and 1.9 km from the main Tocota porphyry veinlets zone opening possibilities for new mineralized areas.   These new areas were never sampled before due to difficult access.

Figure 1. Location of new anomalous samples with respect to the main veinlets zone of Tocota
Additional to the mapping and prospection, the Company completed a soil grid of 628 samples at the Tocota porphyry target to better understand the distribution of Au-Cu anomalies and to get geochemical information from heavily covered areas. The samples have been submitted to ALS and are currently being analyzed with results expected by mid- January.

Figure 2. Soil grid completed at the Tocota porphyry (results pending)

Chita Valley IP Survey

The Company recently completed 21 km of IP survey along the Chita Valley from La Gringa zone to the eastern limit of the property, obtaining two new chargeability anomalies that have become direct drilling targets.  These new IP anomalies are mostly covered by quaternary gravels and show values up to 50 mv/v.  The most eastern anomaly is located 3.2 km east of the nearest drill hole showing the significant potential that the Company has opened with this survey. 

Dr. Ruben Padilla stated, “Our team is very pleased with the recent technical developments at Don Julio.  This work will greatly assist with a proper delineation of the Tocota porphyry target for drilling in 2024 and the new geophysical anomalies add exploration potential to the existent Gringa, Poposa, and Punta Cana porphyry targets.”

Figure 3. Location of IP lines acquired last month with respect to the Gringa and Poposa porphyry targets. The lower section shows the geometry and intensity of the two new IP anomalies.

Grant of Options and Restricted Share Units

The Company also reports that it has granted an aggregate of 3,900,000 options to purchase common shares of the Company to directors, officers, employees and consultants in accordance with the Company’s stock option plan. The options granted are exercisable at $0.07 for a period of five years.   The Company has also granted an aggregate of 1,300,000 restricted share units to certain officers of the Company, such restricted share units vesting equally over three years on the first, second and third anniversaries.

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. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don Julio project.