Net proceeds of the Private Placement will be used to fund the exploration of the Company’s Columba Silver Project in Chihuahua State, Mexico, other projects and for general working capital purposes.
We are excited to be moving to the next stage at Margarita. commented Tom Obradovich, President & CEO of Sable Resources. Following our highly successful first round of drilling where we were able to identify thick high-grade silver intercepts, this next round is designed to extend along strike continuity and test the other veins parallel to Margarita. Early indications are excellent with hole M-DDH-19-14 already showing a vein intercept of 12.4m.
Technical advisor Ken Balleweg, P. Geo, who managed the discovery and ore control of the high-grade Escondida zone states: The style of mineralization in LVRC012, particularly the coarse vuggy nature with crystalline quartz, octahedral pyrite, and tetrahedrite, strongly resembles that of the Escondida high-grade deposit, which was distinctly different from the main Mulatos style of mineralization. As this style of mineralization is unique and was both within and proximal to the high-grade deposit, the intercept of similar alteration in a previously undrilled area is significant and warrants additional step-out holes.
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