Sable Resources Finalize Drill Plan for Tulox Project
TSX VENTURE: SAE
TORONTO, Oct. 9, 2018 /CNW/ - Sable Resources Ltd ("Sable" the "Company") (TSXV: SAE) is pleased to announce a finalized drill plan for the Tulox Intrusion Related Gold Project located in British Colombia, Canada. In addition Sable has also finalized and signed a Drill Services Agreement with Atlas Drilling Ltd to conduct the drilling.
A total of 1800 meters consisting of 7 diamond drillholes of up to 400 meters deep are planned at Tulox to test an initial 1.5km of the 2.5km gold in soil anomaly (Figure 1). The geochemical anomaly is defined by numerous multi-line, multi-station values above 80ppb coincident with the contact of two felsic intrusive bodies distinguished by differing Thorium/Potassium gamma ray spectrometer signatures. Drill permits have been approved, access and construction of drill roads is underway and drilling is planned to commence in several days.
Tulox is the second of three projects planned for drill testing by Sable in 2018. The first, Margarita resulted in the discovery of a new epithermal silver deposit in Chihuahua State, Mexico. The third project, Don Julio, an extensive high-sulphidation epithermal Gold project located in San Juan Province, Argentina will be drilled concurrently with Tulox in October.
"Our target style here is analogous to Kinross' Fort Knox or Victoria Golds' Eagle deposits, targeting gold anomalies associated with contact shearing on the margins of granitoids," commented Ruben Padilla Vice President for Sable Resources. "During the road building process we were able to confirm there is limited depth to bedrock indicating our robust soil anomaly is in situ and on the granitoid contact highlighted by the geophysics." Tulox has not previously been drilled.
ABOUT THE TULOX PROJECT
The Tulox property is located in south-central British Columbia in the Clinton Mining Division and consists of 18 contiguous mineral claims that encompass an area of 13639.58 hectares. The Tulox project lies within the prolific Upper Triassic Quesnel Terrane and is underlain by Nicola Group mafic volcanic rocks intruded by Cretaceous aged intrusions. Mineralisation occurs along the contact of the intrusive and is interpreted to be of Intrusion Related Gold System type (IRGS). Tulox is drill ready with targets defined by an extensive gold in soil anomaly.
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. Sable's 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 (1.5Mha), incorporating the Margarita, Vinata and El Escarpe drill ready projects and the BC Intrusion Related Program, Canada (13,640 ha) incorporating the drill ready Tulox Project.
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.
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