Sable Resources plans drilling program at El Fierro
Executive Summary
- Sable Resources Ltd. announced a planned 3,500 m (extendable to 5,000 m) core drilling campaign at the Pyros Cu‑Au‑Mo porphyry system, targeting extensions of known mineralized breccias and the northern portion of the system, with drilling expected to start in late October.
- The campaign will be financed by Moxico Resources PLC under an amended letter agreement that reduces the total required drilling from 20,000 m to 10,000 m over five years while preserving all other terms.
- Recent drilling results from three holes (FZ‑DH‑25‑92, FZ‑DH‑25‑68, FZ‑DH‑25‑76) disclosed significant Cu‑Au‑Mo intercepts, reinforcing the project's potential; additional exploration work continues at the Cerro Negro property with new IP lines and geochemical sampling.
Key Details
- Drilling Campaign Scope: 3,500 m of core drilling (potentially up to 5,000 m) at El Fierro’s Pyros porphyry target; focus on strike extension, depth testing, and first‑time drilling 1.8 km north of existing holes.
- Financing Arrangement: Moxico Resources PLC will fund the campaign. Amendment to Feb 27 2025 letter agreement reduces total obligated drilling from 20,000 m to 10,000 m over five years; all other terms unchanged.
- Letter Agreement Highlights (original): Moxico may earn up to 51 % of El Fierro by completing 20,000 m of drilling (minimum 1,600 m in Year 1), paying $1.54 M option fees, and $600 k annual payments ($150 k starting Year 2).
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Recent Drilling Results (June 2025):
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FZ‑DH‑25‑92:
- 20.0 m @ 0.58 % Cu, 0.30 g/t Au, 0.13 % Mo (320–340 m) within broader 109.6 m @ 0.23 % Cu, 0.15 g/t Au, 589 ppm Mo (291.4–401.0 m).
- Additional 116.2 m @ 0.24 % Cu, 0.14 g/t Au, 197 ppm Mo (18–134.2 m).
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FZ‑DH‑25‑68:
- 6.9 m @ 1.01 % Cu, 0.35 g/t Au, 258 ppm Mo (676.8–683.7 m) within broader 48.1 m @ 0.31 % Cu, 0.094 g/t Au, 82.5 ppm Mo (645.6–693.7 m).
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FZ‑DH‑25‑76:
- 49.0 m @ 0.22 % Cu, 0.11 g/t Au, 108 ppm Mo (365–414 m) within broader 110.0 m @ 0.17 % Cu, 0.07 g/t Au, 113 ppm Mo (322–432 m).
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Cerro Negro Update:
- Fall‑winter 2025 program financed by Moxico; completed 48 km of new IP lines and collected 660 additional MMI samples in gravel cover.
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Geochemical analyses pending; IP data interpretation ongoing.
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Sample Preparation & QA/QC: Conducted by ALS Minerals (Mendoza, Argentina) with analysis at ALS Lima lab using Au‑AA24 fire assay and ME‑MS61 multi‑acid digestion methods; standard QA/QC protocols applied.
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Qualified Person: Luis Arteaga, MSc, PGeo, Vice‑President of Exploration, NI 43‑101 qualified person, reviewed and approved technical information.
Notable Quotes
“Sable's successful drilling campaign at the Pyros porphyry target earlier this year led to the discovery of two blind Cu‑Au‑Mo mineralized breccias… This next drill campaign will focus on extending these discoveries both along strike and at depth, while also testing, for the first time, the northern portion of the porphyry system.” – Dr. Ruben Padilla, President & CEO, Sable Resources Ltd.