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Sable Announces Osisko Acquisition of 1% NSR for $5.5 Million

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Sable Announces Osisko Acquisition of 1% NSR for $5.5 Million

 

 

 

 

 

Sable Resources Ltd. (TSX-V: SAE) (OTCQB: SBLRF) is pleased to announce that Osisko Gold Royalties Ltd. has exercised its right to acquire a second 1% net smelter return royalty through the payment of $5.5 million pursuant to the Royalty Purchase Agreement entered into between the Company and Osisko in September 2019 (see press release dated August 29, 2019), and as amended on October 13, 2020.  The NSR will extend to all minerals produced from the Company’s current properties, as well as any future properties acquired by the Company prior to September 27, 2023.    

 

Ruben Padilla, CEO of Sable stated, “Osisko’s decision to exercise their option to acquire a second 1% NSR clearly demonstrates the confidence of this leading mid-tier royalty company in Sable’s capability to find new ore deposits.  The proceeds of this transaction provide a significant non-dilutive addition to our already strong cash position allowing Sable to advance aggressively to drill multiple targets commencing with the high-grade El Fierro project located in San Juan Province, Argentina.”

 

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 its Upper Level Epithermal Strategy. Sable is actively exploring the San Juan Regional Program (68,718ha) incorporating the Don Julio Project and the El Fierro Project in San Juan Province, Argentina and the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Margarita, Vinata and El Escarpe projects.

 

Posted October 13, 2020

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