Sable signs letter agreement for La Esquina option
Sable Consolidates Zorro Footprint in Argentina as Portfolio Shifts Following South32 Exit
The most recent news (January 15, 2026) announces that Sable Resources has entered into a binding letter agreement to acquire a 100% interest in the La Esquina property in San Juan, Argentina. This acquisition consolidates the new "Zorro" project, bringing the total land package to 5,236 hectares. The deal is structured as an option agreement requiring $1,000,000 USD in staged cash payments over three years, with a heavy back-end payment of $760,000 USD due before the third anniversary. The property carries a 1% NSR royalty, which Sable can buy back for $1,000,000 USD. Initial exploration has identified three mineralization styles (intrusion-related copper, magmatic-hydrothermal breccias, and epithermal veins) and a large 7km x 4km magnetic anomaly.
The news is a Routine - Positive development. While it demonstrates management’s ability to secure new prospective ground in a top-tier jurisdiction (San Juan), it follows the significant loss of a major partner, South32, which abandoned the Don Julio project in July 2025. - Strategic Shift: The company is aggressively building a new pipeline (Zorro, El Fierro, Cerro Negro) to compensate for the return of Don Julio. - Financial Commitment: The staged payments are manageable in the short term ($50k in year one), but the $760k final payment represents a significant future capital commitment for a company of this size. - Exploration Potential: The identification of a large magnetic anomaly and surface chalcopyrite is encouraging, but a drill program is not slated until H2 2026, meaning no immediate catalysts from this specific project are expected for at least six months.
Sable Resources is a junior explorer focused on "Tier 1" copper-gold-molybdenum porphyry targets in San Juan, Argentina, and British Columbia, Canada. - Flagship Project: Following South32’s departure from Don Julio, the El Fierro Project (San Juan) has emerged as the primary focus. It hosts the Pyros Porphyry system (10km x 10km). Recent drilling (June 2025) returned intercepts such as 20m @ 0.58% Cu and 0.13% Mo. - Secondary Projects: Don Julio (100% controlled, 12,717m of historical drilling), Zorro (newly consolidated), and several BC targets (Copper Queen, Core Mountain).