TORONTO, July 9, 2019 /CNW/ - Sable Resources Ltd. (the "Company") (TSX Venture: SAE) Sable Resources Ltd. is pleased to announce a drill permit has recently been received from the Mexican Government for the Vinata Project. With this permit together with the recently approved surface agreements with the local community, the Company is preparing an initial drill program to test the vertical continuity and mineral zoning along a section of the Vinata vein system where the veins are observed outcropping over 1000 m along strike. Sable will contract a geophysical company to carry out a ground electromagnetic geophysical survey ("CSAMT") to better define the vein system at depth and at the contact of the of the outcropping felsic dome with the volcanic rock and limestone. This survey will complement previously completed mapping and sampling of the structures. Based on the characteristics of the outcropping vein system, the Company plans to complete an initial 2,500 m HQ core drill program.
Tom Obradovich, President and CEO, stated, "We are excited to be close to the initial drilling at Vinata. The Vinata target was discovered as a result of a large regional geochemical survey that lead to the discovery of an upper level epithermal vein system located close to the world class CRD deposits of Santa Eulalia and Naica and to the new large vein Ag-Zn-Pb discovery of Los Gatos. This is a real boots and hammer discovery that characterized our systematic exploration approach and the generation of new high-quality targets."
In house engineering and compilation of data on the Margarita Project is complete and a budget for additional resource definition is being proposed by management. The Margarita project is a strategic complement to Vinata given their relative proximity.
Permitting for the Scorpius Project in Peru is underway as well as strategic land acquisitions under negotiation with other stakeholders in the region. All preliminary exploration work to establish drill targets is complete and drilling will commence upon receipt of permits early next year.
ABOUT THE VINATA PROJECT
The Vinata project is located in the Municipality of Chihuahua, State of Chihuahua, Mexico and is 50 km south of the city of Chihuahua. The Vinata Project is located along possible extensions of known important mineral belts of northern Mexico including base metal CRD deposits as Santa Eulalia (50km NE of Vinata) and Naica (75km SE of Vinata), and the polymetallic vein system of the new discovery of Sunshine Silver Corp.'s Los Gatos Project, located 75 km SW of Vinata.
The mineralization at Vinata occurs as a series of quartz veins that outcrop along a strike length of 1,150m cutting rhyolite tuffs and a volcanic dome that overlain and cut Cretaceous limestone. Identified via stream sediment follow up, the system consists of outcropping veins for approximately 1.2km. Quartz vein float extends additional 450m to the southeast and for more than 1000m toward the NW. The system consists of multiple sub-parallel veins and stockwork zones over a width of between 15m and 170m. Individual veins vary in width from <1m up to about 12m.
About Sable Resources Ltd.
Sable Resources Ltd. is a well-funded junior grassroots explorer focused on the discovery of new precious metal projects through systematic exploration in endowed terrains located in favourable, established mining jurisdictions. Sables' main focus is developing its large portfolio of new greenfields projects to resource stage utilizing their Upper Level Epithermal Strategy. Sable is actively exploring the San Juan Regional Program (35,000ha) incorporating the Don Julio Project in San Juan Province, Argentina, the Mexico Regional Program (1.16Mha in application, 39,000ha titled), incorporating the Margarita, Vinata and El Escarpe drill ready 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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 the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the record date for the Return of Capital, and completion of the distribution of the Talisker Shares. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
The forward-looking information contained in this release is made as of the date hereof, and the Company 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.
For further information: on this press release, please contact Tom Obradovich, President and Chief Executive Officer of the Company at (416) 985-7140 or [email protected].