TORONTO, Oct. 16, 2018 /CNW/ - Sable Resources Ltd
("Sable" the "Company") (TSXV: SAE) is pleased to announce the
staking of a 189,197 hectare land package covering over 70% of
workable ground of the Spences Bridge Gold Belt (SBGB) in Southern
British Colombia, Canada. The ground is held by Sables' 100%
subsidiary Multinational Mining Inc. The SBGB is a 200-kilometer
long by 30 kilometer wide, emerging Low-Sulphidation Epithermal
Gold Belt that Sable believes to be highly prospective and
underexplored. Interpreted by Sable to be a failed cretaceous rift
basin, Sable believes the belt is prospective for Fruta del
Norte style high-grade epithermal mineralisation.
In addition to the claim staking, Sable has also formed a
strategic alliance with Westhaven Ventures Inc ("Westhaven")
(TSXV: WHN). Westhaven recently released high grade intersects at
their Shovelnose project (October
2nd, 2018) intersecting 1.65 Metres of 175 g/t
Gold and 249 g/t Silver and recognition of visible gold in 5 drill
holes. The Alliance brings together Sable's and Westhaven's
technical expertise and combined control of 86% of the Gold Belt
(225,000ha). In accordance with an existing Confidentiality and Non
Disclosure Agreement between the two companies, any ground staked
by Sable within 5-kilometre of Westhaven's existing projects will
be subject to a 2.5% NSR. In addition Westhaven has a 30 day Right
of First Refusal (ROFR) for a three-year period for any properties
within this 5-kilometre radius.
"Representing one of the largest single staking exercises in
British Columbia, the acquisition
of Spences Bridge is directly
inline with our ongoing Upper Level Epithermal Strategy, acquiring
ground and projects in world class jurisdictions in prospective
terranes we believed to be underexplored." Commented Terry Harbort, Vice President of Corporate
Development for Sable. "We have been monitoring the SBGB for some
time waiting for the right moment to implement our strategy. Our
alliance with Westhaven now gives us combined control of the vast
majority of this highly prospective gold belt. As the Mexico
Regional program moves in to Phase II (detailed sampling and
mapping) and the San Juan Regional Program (Argentina) moves into Phase III (Drilling) the
Spences Bridge Regional Program will rebuild our Phase I pipeline,
ensuring that Sable Shareholders have a robust exploration project
portfolio for the foreseeable future."
"We are very pleased to be partnering with Sable's successful
and experienced technical team," stated Gareth Thomas, President & CEO of Westhaven.
"We believe our recent results and operational experience in the
SBGB combined with Sable's epithermal and greenfields knowledge
forms a strong alliance mutually beneficial to both
companies."
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. Sables' main focus is developing their 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 (13,600ha) incorporating the drill ready
Tulox Project.
ABOUT WESTHAVEN VENTURES INC.
Westhaven Ventures Inc. is a Canadian based exploration
company focused on the acquisition and exploration of prospective
resource properties. Westhaven is focused on advancing its
Shovelnose, Prospect Valley, Skoonka and Skoonka North gold
projects in British Columbia.
Westhaven trades on the TSX Venture Exchange under the ticker
symbol WHN. For further information, please call GarethThomas at
604-681-5558 or visit Westhaven's website
at www.westhavenventures.com
MAPS AND MULTIMEDIA CONTENT
For additional maps and multimedia content please visit
sableresources.com/investors.
We seek safe harbor.
SOURCE Sable Resources Ltd.