VANCOUVER, British Columbia, May 29, 2024 (GLOBE NEWSWIRE) — Sable Resources Ltd. (“Sable” or the “Company”) (TSXV:SAE | OTCQB:SBLRF) is pleased to announce that it has staked 4,806 hectares of prospective ground in two properties located NW and SE of the Perk Rocky Project in British Columbia.
Dr. Ruben Padilla, President and CEO of Sable stated, “Following the Company’s entering into the option agreement for the Perk Rocky Project, Sable is pursuing additional opportunities along this and other underexplored porphyry belts. The Copper Queen and Rusty Peak properties show favorable geology with historically known evidence of porphyry mineralization. The acquisition of this is prospective ground building a copper portfolio in British Columbia represents a perfect combination for our already solid pipeline of porphyry projects in Argentina.”
Figure 1. Location of new properties (Copper Queen and Rusty Peak)
with respect to the recently optioned Perk Rocky Project.
Copper Queen Property
- The Copper Queen property (2,864 ha) is located 25km NW of the Perk Rocky land package and was previously explored by Anaconda American Brass (“Anaconda”), Rinto Tinto Group (“Rio Tinto”) and Seaborne Minerals Inc. (“Seaborne”). No exploration activity has been undertaken on the property since 2011 and no mapping since the late 60’s.
- Exploration work conducted by Anaconda American Brass (“Anaconda”) between 1968 and 1969 shows the existence of quartz feldspar porphyries and at least five mineralized diatreme breccias within a porphyry system of approximately 4.5 x 2km.
- Only rock results available come from work in 1982 at the Breccia 1 including several samples >0.5% Cu up to 0.75% Cu associated with chalcopyrite and bornite mineralization.
- Anaconda reported drilling 182m in two holes in 1969 and reported grades from 0.2 to 0.3% Cu in 6 to 25 metres intervals however they did not file detailed information about the drilling.
- Rio Tinto drilled two holes totaling 119m on the southern margin of McClinchy Lake following a chargeability anomaly with Cu mineralization observed but insignificant results.
- Minor sampling visits were conducted in 1982 and 1994, and a 900km VLF-EM and radiometric survey was conducted by Seaborne in 2011.
Figure 2. Left – Location of mineralized Cu bearing breccias located within Sable’s property (red polygon). Right – Detail of available historical sampling on the Breccia 1 showing higher copper values associated to chalcopyrite and bornite mineralization.
Rusty Peak Property
- The Rusty Peak property comprises a large colour anomaly located on the southern margin of a Cretaceous stock which intrudes Cretaceous volcanic rocks.
- A porphyry occurrence “the K showing” is located on the SW margin of the stock and work conducted by Cities Service Minerals Corp. in 1973 revealed quartz monzonite and granodiorite dykes with sericite, biotite, and epidote alteration, as well as quartz-magnetite stockwork.
- ASTER and Sentinel spectral work conducted in 2022 shows the existence of sericite, illite, alunite, kaolinite, and iron oxides within the color anomaly. This combination of alteration minerals suggests advanced argillic alteration transitioning to sericitic within a porphyry environment.
Figure 3. A – Color anomaly at Rusty Peak; B – Geological map of the Rusty Peak area;
C – Sericite extension extracted from ASTER/Sentinel products from 2022;
D – Alunite extension extracted from ASTER/Sentinel products from 2022.
Sable plans on conducting basic field work at Copper Queen to properly map and sample the mineralized breccias and to define the entire porphyry system present there. At Rusty Peak, the Company plans to review the alteration zone to confirm the assemblages suggested by the ASTER and to look for additional porphyry evidence such as veinlets, dykes, breccias, and Cu mineralization out of the K showing.
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.
The Company notes that the historical information about the Copper Queen and Rusty Peak properties comes from filed assessment reports and the QP has not completed enough work to verify this historical information.
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 favourable, established mining jurisdictions. Sable’s focus is developing its large portfolio of Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, and Los Pumas Projects in San Juan Province, Argentina and the Perk Rocky Project (10,475 ha) in British Columbia.
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.
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