Sable Resources Ltd. (TSX-V: SAE) (OTCQB: SBLRF) is pleased to announce initial results of the ongoing drilling program at the Don Julio Project in San Juan, Argentina. The Company has received full results from the first three holes drilled this exploration season, located within La Gringa target: DJ-DH-22-10, DJ-DH-22-11, and DJ-DH-23-12. All exploration expenditures at Don Julio are fully funded under the Earn-In Agreement between the Company and South32, signed in 2021.

“The near-surface high-grade Cu-Au mineralization intercepted by hole 12 represents a new mineralization style that will be followed up to understand its actual geometry, size, and relationship with the overall porphyry system at the La Gringa target. We are expanding the search towards the west with promising geological and geochemical observations,” stated Dr Ruben Padilla, President, and CEO of Sable.

Highlights

Below are highlights of the reported drill holes with location data and highlighted intervals included in Tables 1 and 2 below.

DJ-DH-22-12

• 2.21% CuEq (1.61% Cu; 19.1 g/t Ag; 0.38 g/t Au; 0.4% Zn) over 11.1m from 53.0 to 64.1m
  Including
  • 8.42% CuEq (6.52% Cu; 84 g/t Ag; 0.99 g/t Au; 1.21% Zn) over 0.7m from 55.0 to 55.7m
  • 5.96% CuEq (3.76% Cu; 25.4 g/t Ag; 2.39 g/t Au; 0.64% Zn) over 0.55m from 60.0 to 60.55m
  • 8.80% CuEq (6.75% Cu; 82.1 g/t Ag; 0.95 g/t Au; 1.74% Zn) over 0.5m from 63.6 to 64.1m
• 1.3% CuEq (0.54% Cu; 6.81 g/t Ag; 0.95 g/t Au) over 13.7m from 149.0 to 162.7m
  Including
  • 11.11% CuEq (4.64% Cu; 56.6 g/t Ag; 8.09 g/t Au; 0.22% Zn) over 1.1m from 160.5 to 161.6m
  • 7.81% CuEq (3.52% Cu; 43.8 g/t Ag; 5.24 g/t Au; 0.24% Zn) over 0.5m from 162.2 to 162.7m
• 3.58% CuEq (0.82% Cu; 7.95 g/t Ag; 3.69 g/t Au) over 2.0m from 202.0 to 204.0m
• 10.58% CuEq (4.85% Cu; 50.4 g/t Ag; 7.19 g/t Au; 0.15% Zn) over 1.0m from 221.5 to 222.5m

DJ-DH-22-10

• 0.21% CuEq (2.12 g/t Ag; 0.13 g/t Au; 0.09% Cu) over 12.1m from 205.5 to 217.6m
• 1.1% CuEq (4.09 g/t Ag; 0.27 g/t Au; 0.87% Cu) over 1.0m from 227.0 to 228.0m
• 1.57% CuEq (17.2 g/t Ag; 0.7 g/t Au; 0.91% Cu) over 2.0m from 330.0 to 332.0m
• 0.31% CuEq (0.18 g/t Au; 0.18% Cu) over 20.0m from 380.0 to 400.0m
  Including
  • 1.36% CuEq (1.76 g/t Ag; 0.82 g/t Au; 0.75% Cu) over 2.0m from 392.0 to 394.0m
  • 0.62% CuEq (0.28 g/t Au; 0.41% Cu) over 2.0m from 396.0 to 398.0m
• 0.23% CuEq (1.23 g/t Ag; 0.083 g/t Au; 0.16% Cu) over 63.0m from 482.0 to 545.0m
  Including
  • 0.75% CuEq (1.32 g/t Ag; 0.31 g/t Au; 0.51% Cu) over 2.0m from 510.0 to 512.0m
  • 1.37% CuEq (9.82 g/t Ag; 0.22 g/t Au; 1.12% Cu) over 2.0m from 522.0 to 524.0m
  • 1.45% CuEq (1.98 g/t Ag; 0.44 g/t Au; 1.11% Cu) over 2.0m from 543.0 to 545.0m

DJ-DH-22-11

• 0.11% Cu over 12.0m from 375.0m to 387.0m
• 0.14% CuEq (0.091% Cu; 139 ppm Mo; 0.95 g/t Ag) over 305m from 528.0 to 833.0m
  Including
  • 0.14% CuEq (0.097% Cu; 129 ppm Mo) over 59.0m from 528.0 to 587.0m
  • 0.17% CuEq (0.11% Cu; 151 ppm Mo; 1.32 g/t Ag) over 45.8m from 636.2 to 682.0m
  • 0.17% CuEq (0.11% Cu; 135 ppm Mo; 1.4 g/t Ag) over 16.0m from 758.0 to 774.0m

Hole Descriptions

DJ-DH-22-12

DJ-DH-22-12 (Hole 12) was drilled 800m west of DJ-DH-22-07, completed last season, targeting a large chargeability anomaly identified at the La Gringa target. Mineralization intercepted by hole 12 was completely covered by thin quaternary gravels (Figures 1 and 2) and consists of chalcopyrite, tennantite, enargite, and sphalerite, typical of deep levels of the high-sulfidation environment. The hole cut at least three zones of massive sulfides, breccias, and stockworks which geometry is not fully understood yet. Hole DJ-DH-23-14 was drilled in the opposite direction to hole 12 to understand the geometry of the mineralization with results still pending. The mineralization style resembles high-sulfidation deposits such as Čukaru Peki located in the district of Bor in Serbia and other deep level Cu-Au high-sulfidation systems.

DJ-DH-22-10

DJ-DH-22-10 (Hole 10) targeted a magnetic anomaly combined with low resistivity and geochemical anomalies from historical hole ATW-03 (Figures 1 and 3). The hole was dominated by advanced argillic alteration transitioning into sericite-illite with presence of A and B veinlets.  Although the hole did not reach potassic alteration, it extended the porphyry environment at least 900m from hole DJ-DH-22-07 drilled last year. It intercepted a significant number of high-sulfidation structures with Au-Cu anomalies characterized by tennantite, enargite, and pyrite.

DJ-DH-22-11

DJ-DH-22-11 (Hole 11) was planned to follow up on biotite alteration and early porphyry veining encountered in holes DJ-DH-22-07 and DJ-DH-22-09 from last season (Figures 1 and 4). The hole is located 580m west from DJ-DH-22-07. Hole 11 intercepted a similar alteration transition from advanced argillic (kaolinite-alunite-pyrophyllite), progressing into sericite-illite and then going into strong biotite alteration with abundant A and B type veinlets. The hole was showing a positive increase in molybdenite, chalcopyrite and veinlets, when it had to be abandoned due to technical problems at 833m.

Porphyry mineralization is characterized by broad zones of disseminated sulfides and vein stockwork; high-grade Cu-Au mineralization intercepted in hole 12 consists of irregular zones of semi-massive sulfides, sulfide-rich breccias, and stockworks; therefore, true width cannot be determined at this time. CuEq and AuEq were calculated based on 100% recovery and prices of USD 1,500 per oz for gold; USD 18.00 per oz for Ag; USD 3.00 per pound for copper; USD 10.00 per pound of molybdenum, and USD 1.10 per pound of zinc.

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.

ABOUT THE DON JULIO PROJECT

The Don Julio project comprises 69,350 hectares in the Cordillera Frontal in San Juan, Argentina. It includes the Don Julio cluster that contains numerous targets of porphyry (La Gringa, Poposa, Amarillo, Punta Cana, Tocota); intermediate sulfidation (Lodo, San Gabriel, Colorado); skarn (Fermin); and the regional properties that include the Los Pumas project as well as extensive unexplored ground. Since 2018, Sable has conducted systematic surface work including mapping; rock sampling; talus sampling; GroundMag, and UAV-Mag, and induced polarization. Sable performed a first drilling campaign in 2019 with 3,101m drilled in 11 holes and a second campaign in early 2022 comprising 4,294m in 9 holes. In 2021, Sable signed an Earn-In agreement with South32 to jointly explore the Don Julio project.

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 favorable, established mining jurisdictions. Sable’s focus is developing its large portfolio of new greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha) incorporating the Don Julio, El Fierro, La Poncha, 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.

ABOUT SOUTH32

South32 is a globally diversified mining and metals company. The company’s purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come. South32 is trusted by its owners and partners to realise the potential of their resources. South32 produces commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal, and manganese from its operations in Australia, Southern Africa and South America. With a focus on growing its base metals exposure, South32 also has two development options in North America and several partnerships with junior explorers around the world.

Figure 1. Location of reported holes from the La Gringa target. Holes from the 2021/2022 exploration season are shown in blue with holes from the current season (2022/2023) are shown in black. (CNW Group/Sable Resources Ltd.)

Figure 2. Cross section along drill holes DJ-DH-23-12 and 14 showing Cu values for hole 12 and chargeability on the background. (CNW Group/Sable Resources Ltd.)

Figure 3. Cross section along DJ-DH-22-10 showing geochemical results and geophysical anomaly targeted. (CNW Group/Sable Resources Ltd.)

Figure 4. Cross section along DJ-DH-22-11 showing Molybdenum results and magnetics on the background. (CNW Group/Sable Resources Ltd.)