Sable Initiates Drilling at El Fierro Project

VANCOUVER, BC, Feb. 9, 2021 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce that it has started its drilling campaign at El Fierro Project in San Juan, Argentina. El Fierro is a historical artisanal silver-rich polymetallic vein mining district located 250 km northwest of San Juan city and 120 km from Sable's Don Julio Project. Sable will be the first company to drill the project.

"We are very excited to be the first company to drill such a high-quality asset as El Fierro, and to start our program on time and within budget. We are looking forward to seeing the core come out of the ground and to start confirming the three-dimensional footprint of high grade zones," stated Ruben Padilla, President and CEO, who added, "Mapping, prospecting, and geophysics continues to advance at the property and we will provide updates on results when available over the coming weeks."

The El Fierro drill program will consist of a first phase of 3,000m, in 21 planned drill holes across three target areas - Fierro Bajo, Fierro Alto and La Verde. Sable plans to expand the program a further 2,000m for a total of 5,000m based on results from the first phase and following the incorporation of pending surface samples geochemical analysis from soils, outcrops, and new trenching. The drill program will test grade continuity and vein thickness at depth and along strike extensions of the high grade vein targets at the three known mineralized zones of the project which combined represent over 5.5 km of outcropping and sub-cropping veins within an area of 8 x 4 km.

The first area to be tested will be Fierro Bajo with 10 shallow holes (1,400m) targeting four mineralized structures between 50 to 100m downdip (see Figure 1). Fierro Bajo consists of at least four silver-rich veins that returned values of up to 17,531 g/t AgEq (12,181 g/t Ag; 5.67% Pb; 1.6% Cu; and 0.2%Zn Grab Sample).

At Fierro Alto, six drill holes (totalling 900m) are planned to test the main structures (F and G veins) over a strike length of 600m at depths between 50 and 100m downdip (see Figure 2). Structures at Fierro Alto returned values as high as 1,946.50 g/t AgEq (1,070 g/t Ag; 20% Pb; 0.38 g/t Au; 1.003% Zn; and 1.33% Cu. 0.25m Channel Sample).

Finally, at La Verde the Company will drill seven short holes (totalling 700m) testing the mineralization to 50m depth on the three veins that are currently known (see Figure 3). La Verde samples have returned some of the highest grades within the project, with values up to 2.582 g/t AgEq (784g/t Ag; 16.7 g/t Au; 3.42% Pb; 0.3% Zn; and 0.3% Cu. Grab Sample).

The Company notes that selected grab samples noted above are not necessarily representative of the mineralization hosted at El Fierro. Channel samples are always taken perpendicular to structures and therefore represent true width. Maps associated with this press release will be available on Sable's website (www.sableresources.com). Silver equivalent (AgEq) is calculated based on 100% recovery and prices of USD 17.89 per oz for silver; USD 1,500 per oz for gold; USD 0.86 per pound for lead; USD 1.08 per pound for zinc; and USD 2.80 per pound for copper.

Figure 1. Proposed drill hole locations for El Fierro Bajo

Figure 2. Proposed drill hole locations for El Fierro Alto

Figure 3. Proposed drill hole locations for La Verde zone

Sable is providing an opportunity for shareholders and other interested parties to participate in a Webinar to be held at 4 pm ET on Thursday, February 11, 2021. To register, please click on the following link - https://zoom.us/webinar/register/WN_URz_XUmoQQ-ldqzArzFYjg.

ABOUT EL FIERRO PROJECT

The El Fierro Project is located 250 km northwest of San Juan, Argentina and 120 km north of Sable's Don Julio Project in one of the best-known historical mining districts in the San Juan province. The El Fierro Project consists of three main known mineralized areas - Fierro Alto, Fierro Bajo, and La Verde over an area of 8km x 4km. The three areas host a number of old artisanal mining workings where silver, lead and zinc were intermittently mined since the late 1800's until the 1960s decade; the property has never been drilled. Sable currently controls 46,391 hectares covering all the historically mineralized areas and additional highly prospective ground over a large magnetic 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 level. Sable is actively exploring the San Juan Regional Program (109,055 ha) incorporating the Don Julio, El Fierro, and los Pumas Projects in San Juan Province, Argentina; and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Vinata and El Escarpe projects.

Related link: sableresources.com

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SAMPLE PREPARATION AND QA/QC

Sample preparation for projects in Argentina is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at its facility located in Mendoza, Argentina. Analyses are carried out at their laboratory in Lima, Peru. Sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).

Gold was analyzed by fire assay of a 30 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES); multi-elements were analyzed by an aqua regia digestion of a 1 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 35 elements (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn) (codes Au-ICP21 and ME-ICP41). This digestion method dissolves most minerals but not all elements are quantitatively extracted in some sample matrices. Over limit Ag, Cu, Pb, Zn OG46 analyses are conducted when samples exceed the upper detection limits; this method includes Aqua Regia digestion and ICP-AES finish. Method Ag-GRA21 which includes Fire Assay with gravimetric finish is applied when Ag exceeds 1500 g/t. Control samples (standards, blanks, and duplicates) are inserted systematically and their results evaluated according to the Company protocols.

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.

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.

SOURCE Sable Resources Ltd.