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Sable Defines Clear Drill Target at Scorpius

Company Also Announces Grant Of Stock Options

TORONTO , Feb. 26, 2019 /CNW/ - Sable Resources (SAE.V) (the "Company" or "Sable") is pleased to announce the completion of Phase II, drill target definition work at the Scorpius Project located in the Miocene Gold Belt of Peru .

The exploration included detailed mapping of a 4 km2 area, collection of 49 rock samples that add to the 524 previous rock samples results provided by the tenement holder, and 4 kilometers of Induced Polarization (IP) survey distributed across 4 lines.

The objective of the rock sampling was to evaluate the surface gold geochemical values associated to the different lithological units and alteration mineral assemblages. Gold values from the 49 rock samples grade up to 4.91 g/t with 19 of the sample in the 0.1 to 1g/t range. Best gold values are associated with silica-alunite alteration, silicification, and vuggy silica. Historic samples provided by the tenement holder include gold values up to 7.75 g/t, including 90 samples grading between 0.1 to 1 g/t, and 23 samples grading more than 1 g/t.

Sample
ID

Gold
Value
(ppm)

Rock Description

Sample Type

225

4.91

Silica Alteration in Andesite

1.1m Channel

237

0.849

Silica Alteration

1.8m Selective Channel

203

0.599

Silica Alteration in Andesite

1.2m Channel

249

0.574

Silica Alteration

0.5m Selective Channel

204

0.37

Silica Alteration in Andesite

1m Selective Channel

238

0.319

Silica Alteration

1.2m Selective Channel

218

0.296

Silica Alteration in Andesite

0.7m Selective Channel

226

0.291

Silica Alteration in Andesite

0.4m Selective Channel

215

0.289

Silica Alteration in Andesite

1m Selective Channel

228

0.287

Silica Alteration in Andesite

0.4m Selective Channel

201

0.283

Silica - Alunite Alteration in Andesite

1.1m Channel

212

0.231

Strong Silica Alteration in Andesite

1m Selective Channel

210

0.213

Silica - Alunite Alteration

2m Channel

248

0.21

Silica Alteration

1m Selective Channel

232

0.206

Silica - Alunite Alteration in Andesite

1.7m Channel

247

0.161

Silica Alteration

2m Selective Channel

211

0.146

Silica Alteration in Andesite

1.6m Channel

206

0.143

Silica - Alunite Alteration in Dacite

2m Channel

216

0.112

Silica Alteration in Andesite

0.5m Selective Channel

222

0.101

Silica Alteration in Andesite

0.8m Channel

 

Table 1 Sable rock sample assay results from Scorpius Project  

Figure 1 Location of released Sable samples with historic sampling (CNW Group/Sable Resources Ltd.)

The IP survey covered a total of 4 km distributed in three lines oriented perpendicular to the alteration corridor and one parallel. All lines identified a robust high-resistivity anomaly, at least 1000 m long on the E-W direction, 500 to 600 m wide, and 100 to 130 m thick, with the top of the resistivity high occurring from between the current surface and 100 m depth.

Figure 2 Location of IP lines with sampling distribution and geology (CNW Group/Sable Resources Ltd.)
Figure 3 IP showing high resistivity horizon in red (CNW Group/Sable Resources Ltd.)

The robust gold anomaly accompanying the typical high-sulphidation mineral assemblage within and at the margins of domes with low levels of erosion, all coincident with high resistivity anomalies, clearly justify to move forward with the first drill test at Scorpius, testing the potential to host an open-pitable, heap-leaching deposit typical of the Miocene Gold Belt of Peru .

In parallel with the Phase 2 work the company initiated negotiations with local communities, and completed all necessary field and administrative work required to request the environmental permit to conduct drilling. Sable expects to have all permits ready on time to commence drilling during the Peruvian Andes dry season early in Q3, 2019.

ABOUT THE SCORPIUS PROJECT
Acquired as part of Sables Upper Level Epithermal Strategy, The Scorpius High Sulphidation Project is located in the prolific Miocene Gold Belt of Central Peru . Historic values at the Scorpius Project range between 0.1 and 7.7g/t Au and define a 1km by 0.5km anomalous area coincident with volcanic domes, silica ledges, quartz-alunite alteration and high-sulphidation pathfinders similar to Sables' Don Julio project located in San Juan Province, Argentina . Sable has the rights to acquire 100% of the Scorpius Project for total payments of $1 million dollars over three years. 

SABLE RESOURCES LTD. ANNOUNCES GRANT OF OPTIONS
Sable Resources Ltd has granted a total of 450,000 incentive stock options to an officer and director of the Company pursuant to the Company's Stock Option Plan. Such options are exercisable at a price of $0.25 for a period of five years. The grant of options is subject to the approval and requirements of the TSX Venture Exchange.

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. Sables' main focus is developing their 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 (1.5Mha), incorporating the Margarita, Vinata and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,600ha) incorporating the drill ready Tulox Project.

QUALIFIED PERSON
Luis Arteaga M.Sc. P.Geo. Exploration Manager for Sable Resources and the Company's Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release.

We seek safe harbor

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Sable Resources Ltd. (CNW Group/Sable Resources Ltd.)

SOURCE Sable Resources Ltd.


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