Sable Announces Preliminary Results from Cerro Negro Greenfields Project in San Juan Argentina - Seite 2

Figure 2. Location and Metallogenic Regional Context of the Cerro Negro project.

Given the coincidence of magnetic and IP features with localized anomalous rock samples, the company decided to conduct a soil sampling survey using the partial extraction MMI technique (Mobile Metal Ion) to define ionic metal anomalies transported vertically through the gravel cover. The survey consisted of 255 samples collected along the IP lines to compare geochemical and geophysical responses. The MMI results show consistent and significant anomalies of porphyry-related metals like Cu, Au, Ag, Mo within and around the main chargeability anomaly; traditional pathfinders such As, Sb, Tl, Te, Se, Pb, Zn show variable anomalies in different zones of the sampled area.

Figure 3. Magnetics, Chargeability and Resistivity distribution at the Cerro Negro Project.

Results of MMI soil sampling can be presented as absolute values of certain element but better expressed as a Response Ratio (RR) which represents the number of times that each value exceeds the background. Normally RR values of 2 or less are considered too close to the background level and therefore not anomalous. Response Ratios of 2 to 5 times background are already considered anomalous (SGS, Technical Bulletin 23, 2005). At Cerro Negro response ratios of up to 70 were obtained for Au; 20 for Cu; 75 for Mo; and 96 for Ag, as well as elevated values for different porphyry pathfinders including up to 2,400 times background for As. Figure 3 shows the calculated response ratios for the main elements along sampling lines 6400 and 7200.

Future Work

The Company is planning the extension of the MMI soils and geophysical surveys over the entirety property to define drill targets on the search of blind Miocene porphyry centers bellow the quaternary gravels.

Figure 4. Distribution of response ratios for main porphyry associated metals.

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 CERRO NEGRO PROJECT

Cerro Negro is a new grassroots exploration project product of Sable’s target generation work. Cerro Negro is located in the province of San Juan, Argentina; 34km ENE of Minsud’s/South32 Chita Valley Project with multiple significant drilling intercepts including 786m @ 0.43% Cu; 0.23 g/t Au; 15.78 g/t Ag (MinSud PR. May 8, 2023); 35km NW of Challenger Gold’s Hualilan Project which contains a resources of 2.8MOz AuEq (Challenger Gold Announcement March 29, 2023); and 50km East of Sable’s Don Julio Project which is advancing funded by an Earn-in agreement with South32. Sable is advancing the Cerro Negro project through systematic and modern exploration.