Sable Resources — Regulatory Filings 2020

Feb 12, 2020

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Sable Confirms New Discovery From Fermin Skarn Project in San Juan Argentina

TORONTO, Feb. 12, 2020 /CNW/ - Sable Resources (TSX.V: SAE) (the "Company" or "Sable") is pleased to provide new surface sampling results from its Fermin skarn project located within the Don Julio cluster in San Juan, Argentina. These samples confirm the discovery made in the 2018-2019 field season.

The Fermin skarn was discovered by the end of the 2018-2019 field season and preliminary results were released in June 2019 (See PR, June 20[th] 2019). Detailed mapping and systematic channel sampling started last December and the company has received results from 78 samples; 99 additional samples are currently being analyzed.

Geological mapping has shown that the mineralization is hosted by a limestone unit interbedded within Permian ignimbrites. The calcareous unit is strongly deformed and altered to marble, and hornfels, with irregular zones of garnet skarn. Mineralization consists of sphalerite, galena, chalcopyrite, and pyrite, normally with stratabound geometry, but also controlled by structures crosscutting the bedding or showing irregular geometries. The altered and mineralized calcareous unit outcrops for 1.9 km along strike.

Au is only weakly anomalous, whereas Zn, Pb, Ag and Cu show multiple elevated values. The mineralogy and characteristics of the alteration suggest that Fermin represents the distal zone of a concealed Cu-Au skarn/porphyry center located west of the outcropping mineralized area.

"The extension and geochemical expression of the Fermin project is similar to distal marble fronts associated to known Cu-Au skarn systems of the Central Andes. These results are highly encouraging to keep our exploration efforts looking for high grade skarn close to the causative porphyry intrusion commented Ruben Padilla, Sable's VP of Exploration"

Due to the strong deformation, and outstanding strike continuity, the skarn mineralization has been intensely sampled in multiple sections with channel samples taken perpendicular to the limestone bedding, that can be considered true width.

Highlights

Section A

16.073% ZnEq over 2.5m (10.02% Zn; 0.56% Pb; 0.27% Cu and 10.53 g/t Ag)

Including

9.2% Zn; 4.07% Pb and 99.3 g/t Ag over 1.5m (Sample E01950)

Section B

3.75% ZnEq over 8.2m (1.46% Zn; 0.99% Pb; 0.31% Cu; and 29.39 g/t Ag)

Including

• 1.11% Cu over 1.2m (Sample E01940)

• 1.92% Pb over 2.0m (Sample E01941)

• 2.60% Zn over 2.0m (Sample E01941)

51.29 g/t Ag over 3.2m (Samples E01940 and E01941)

Section C

1.55% ZnEq over 6.1m (0.90% Zn; 0.57% Pb; and 8.22 g/t Ag)

Including:

• 2.06% Zn and 1.20% Pb over 2.4m (Samples E01912 and E01915)

Section D

• 1.80% ZnEq over 14.1m (0.86% Zn; 0.63% Pb; 0.12% Cu; and 5.69 g/t Ag)

Including:

• 0.90% Cu over 1.7m (Sample E01937)

3.08% Pb and 4.1% Zn over 1.6m (Sample E01932)

Section E

• 1.22% ZnEq over 7.10m (0.73% Zn; 0.55% Pb; and 2.33 g/t Ag)

Including

3.23% Zn; 2.54% Pb; and 13.1 g/t Ag over 1.1m (Sample E01954)

Section F

2.38% ZnEq over 10.8m (0.99% Zn; 0.56% Pb; 0.27% Cu and 10.53 g/t Ag)

Including

• 2.64% Zn and 1.58% Pb over 1.5m (Sample E13004)

• 1.27% Zn over 1.2m (Sample E01998)

• 1.56% Zn over 1.5m (Sample E01995)

• 1.25% Cu over 2.0m (Sample E02000)

Zinc equivalent is calculated considering a 100% recovery and based on prices of USD 1.08 per pound for Zinc; USD 17.89 per Oz for Silver; USD 0.86 per pound for Lead; and USD 2.80 per pound for Copper; Gold has not been incorporated in the calculation since the values are only sporadically anomalous.

Section A

16.073% ZnEq over 2.5m (10.02% Zn; 0.56% Pb; 0.27% Cu and 10.53 g/t Ag)

Sample Easting Northing Size Ag _PPM Cu _PPM Pb _PPM Zn _ PPM E01950 6626004 2429217 1.5 99.30 2150.00 40700 92200 E01949 6626004 2429218 2.0 10.60 667.00 31700 56100

Section B

3.75% ZnEq over 8.2m (1.46% Zn; 0.99% Pb; 0.31% Cu; and 29.39 g/t Ag)

Sample	Easting	Northing	Size	Ag _PPM	Cu _PPM	Pb _PPM	Zn _ PPM
E01942	6626060	2429203	2.0	4.70	144.00	801	3160
E01941	6626063	2429202	2.0	52.30	1630.00	19200	26000
E01940	6626068	2429203	1.2	49.60	11100.00	9440	15900
E01939	6626071	2429203	1.5	5.20	1340.00	11350	13850
E01938	6626078	2429204	1.5	39.80	4640.00	8490	14200

Section C

1.55% ZnEq over 6.1m (0.90% Zn; 0.57% Pb; and 8.22 g/t Ag)

Sample	Easting	Northing	Size	Ag _PPM	Cu _PPM	Pb _PPM	Zn _ PPM
E01916	6626036	2429240	1.2	0.70	20.00	1680.00	2220
E01915	6626037	2429239	1.4	3.00	30.00	16100.00	28300
E01912	6626040	2429238	1.0	27.70	2730.00	6390.00	9970
E01911	6626041	2429238	0.9	19.00	46.00	3740.00	2060
E01910	6626043	2429238	1.6	0.20	6.00	553.00	708

Section D

1.80% ZnEq over 14.1m (0.86% Zn; 0.63% Pb; 0.12% Cu; and 5.69 g/t Ag)

Sample	Easting	Northing	Size	Ag _PPM	Cu _PPM	Pb _PPM	Zn _ PPM
E01937	6626086	2429240	1.70	32.70	9070.00	10300	16200
E01936	6626089	2429242	1.80	3.00	23.00	11600	13050
E01935	6626088	2429245	1.50	0.20	6.00	182	510
E01933	6626086	2429249	2.00	0.60	3.00	193	364
E01932	6626085	2429245	1.60	9.10	138.00	30800	41900
E01931	6626084	2429246	1.50	0.50	25.00	114	329
E01930	6626083	2429247	1.60	0.10	27.00	15	77
E01929	6626081	2429250	1.60	1.10	372.00	154	520
E01928	6626080	2429250	0.80	0.60	1150.00	14	108

Section E

1.22% ZnEq over 7.10m (0.73% Zn; 0.55% Pb; and 2.33 g/t Ag)

Sample	Easting	Northing	Size	Ag _PPM	Pb _PPM	Zn_ PPM
E01960	6626125	2429212	2.0	0.40	3910	5580
E01958	6626124	2429214	0.5	1.70	4410	7280
E01957	6626124	2429215	1.5	0.20	1130	1255
E01956	6626123	2429217	2.0	0.10	29	71
E01955	6626122	2429218	1.1	13.10	25400	32300

Section F

2.38% ZnEq over 10.8m (0.99% Zn; 0.56% Pb; 0.27% Cu and 10.53 g/t Ag)

Sample	Easting	Northing	Size	Ag _PPM	Cu _PPM	Pb _PPM	Zn_ PPM
E13004	6626398	2429178	1.5	16.00	170.00	15850	26400
E13003	6626392	2429178	1.0	7.30	346.00	2300	5050
E02000	6626391	2429176	2.0	14.10	12500.00	939	3430

E01999	6626391	2429176	1.0	8.30	593.00	4880	6540
E01998	6626391	2429178	1.2	8.70	53.00	9620	12750
E01997	6626391	2429179	1.0	0.20	6.00	161	414
E01996	6626391	2429180	1.6	4.30	26.00	4200	6330
E01995	6626391	2429182	1.5	18.90	2360.00	6460	15650

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Figure 1: Fermin plan map with channel sample locations and pending sample locations (CNW Group/Sable Resources Ltd.)

ABOUT DON JULIO PROJECT

The Don Julio project area contains 8 of the 19 known Sable's identified anomalies within its San Juan exploration program (58000 hectares), located in the Cordillera Frontal of Argentina along the southern extension of the prolific Miocene El Indio-Pascua Belt. The Don Julio project area extends for approximately 12 x 10 km. The company has completed systematic geological mapping at 1:2,500 scale over all the known targets of the Don Julio cluster and recognizing mapping in areas located between the main alteration zones. The mapping work was complemented with 1,825 rock samples and 283 talus samples, in addition 8 drill holes were drilled (3101 m) at the Esperanza and Heaven Hill targets. The results of the extensive mapping and sampling carried out by Sable's team identified various magmatic centers with associated large hydrothermal alteration and different styles of mineralization including Au-Cu porphyry; IS/HS epithermal; and skarn.

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 (58,000ha) incorporating the Don Julio Project in San Juan Province, Argentina; the Mexico Regional Program (1.16Mha in application, 39,000ha titled) incorporating the Margarita, Vinata and El Escarpe projects; and the Scorpius Project in Ayacucho, Peru.

Sample Preparation and QAQC

Sample preparation for the Don Julio Project is carried out by ALS Chemex Argentina, a subsidiary of ALS Minerals, at their 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. 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. 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.

We seek safe harbor

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Figure 2: Fermin plan map with channel sample locations (CNW Group/Sable Resources Ltd.)

SOURCE Sable Resources Ltd.

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%SEDAR: 00008665E

For further information: Tom Obradovich, President & CEO, tobradovich@sympatico.ca, Tel (416) 985-7140; Or visit sableresources.com

CO: Sable Resources Ltd.

CNW 07:00e 12-FEB-20