Greenfields Exploration At Its Best - TSXV:SAE - Sable Resources
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TSXV:SAE
Greenfields
Exploration
At Its Best
Corporate
Presentation
September 2021
1 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
Forward Looking Statements
Certain statements in this presentation document are forward-looking statements, which reflect the expectations of management regarding the business
development objectives and plans of Sable Resources Ltd. and its subsidiaries (collectively referred to as “Sable” or the “Company”. Forward-looking
statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the
future. Forward-looking statements in this presentation include statements regarding the company’s proposed targets for production and for other exploration
and development plans; statements regarding exploration upside; statements regarding projected metallurgical recoveries; statements regarding plans for
2018 exploration and development; statements regarding expected costs; statements regarding the mill; and statements regarding 2018 objectives and targets.
Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in
the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits
the Company will obtain from them.
These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to
be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-
looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and
speculative nature associated with gold and silver exploration, (3) a decreased demand for gold and silver, (4) any number of events or causes which may
delay exploration and development of the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and
labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all
necessary permitting and financing, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this
presentation and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from
those projected in the forward-looking statements, except in accordance with applicable securities laws. Additional information about the Company and these
and other assumptions, risks and uncertainties is available in the Company’s public filings with Canadian securities regulators, available on SEDAR at
www.sedar.com. Any Resources, Reserves or other estimates as to the volume of mineralized rock contained herein are historical estimates and were
completed prior to the implementation of NI 43-101 unless expressly stated. Sufficient work to classify the historic mineral resource as a current mineral
resource has not been completed. Hence, the resource estimate should not be relied upon.
2 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
MANAGING THE Pipeline: Project Management
Order and Discipline
EXPLORATION BUSINESS
Exploration
is a Business
P1 P2 P3 P4
Conceptual Target Drill target Drilling Resource drilling
1,262,482 Ha
Stage generation definition 7 Projects 1 Deposit Land Package
106 anomalies 5 targets
Who We Are and How
We Will Get There
• Sable: Value Creation Path Capital Sources
A Mineral Exploration Company PRE - DRILLING • Capital raising
• Be in the right mineral belt and jurisdiction
• Objective: • Get good portfolio of quality projects • JV existing projects +
Create exceptional gains by • Have the right people to do the job
managing fees
• Be well funded to complete the job
mineral discoveries • 7 years and > $12M hunting opportunities • Strategic alliances at
• Value Creation Strategy: pre-drilling stage
Mineral discovery and DRILLING • Divest small discoveries and
divestment at the right time non-core assets
Project Generator Path Jr. Explorer Path
• Risk Management: • NSR: sale NSR on future
JV- Partner $ Sable $
discoveries, and NSR owned
Minimized risk by creating a
in various projects located in
robust portfolio of drill ready DISCOVERY BC
targets
Value Creation
OR
Kill & Drop
3 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
CORPORATE
Share Structure and Capitalization
Capital Structure (C$M Except Per Share Figures) Capital Structure (C$M Except Per Share Figures)
Current Price (as of September 1, 2021) C$0.22 Type total warrants and options Amount
52-Wk High C$0.395 Options 15,400,000
52-Wk Low C$0.135 Warrants 46,425,770
Shares Outstanding 276,698,232 Total 62,267,605
Market Capitalization ( MCAD) $60 (Add) Basic Shares Outstanding 276,698,232
Cash (MCAD) ~25 Fully Diluted Shares Outstanding 338,524,002
Over 27.5 M CAD$ cash + investments
Share Structure
1 Year Share Price Performance
38%
Institutions
10%
Insiders
British Columbia Royalties
Sable owns
• 1% NSR in Talisker Resources’ Spences Bridge Project.
52%
• 1 % NSR in TDG Gold’s Shasta/Baker Projects Retail
• 2.5% NSR in Cassiar Gold’s Taurus Deposit (1
Moz Au @ 1.43 g/t).
4 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
CORPORATE
Sable Leadership – Board & Management
Ruben Padilla– President, CEO, Director Terry Harbort – VP Corporate Development, Director
• PhD from University of Arizona on Escondida • PhD in Structural Geology and Tectonics
• Over 35 years of experience in mineral exploration • Over 25 years of experience in mineral exploration
• 13 years exploration geologist for BHP Chief Geologist for • CEO, President, Director of Talisker Resources
the Americas with Anglo Gold Ashanti • Sr. member of the Anglo Gold Ashanti team
• Director of Geology of Talisker Resources • Part of teams that discovered 47 M ounces of gold
• Part of teams that discovered 47 M ounces of gold
Andres Tinajero – Director
Tom Obradovich– Director, Chairman • 20+ Years of Financial and Risk Management of Public Companies
• Over 35 years of experience in mining, exploration and development Across North America. Has Supported a Range of Industries Including: Natural
• Key member behind the Fruta Del Norte deposit which was sold to Resources, Manufacturing & Technology
Kinross for US$1.2 billion in 2008
Luis Arteaga – VP Exploration, MSc P.Geo QP
Brent Gilchrist – Director • MSc from Laurentian University
• Mining and Finance executive • Professional Geoscientist from PGO in Ontario
• President of JDS Energy and Mining • Over 15 years of experience
• Purchased, built, operated, and sold the Silvertip mine to • Sr. Geologist with Talisker Exploration Services
Coeur Mining for US$250 million • Worked in multi geological terrains and deposits types globally
Jonathan Rubenstein – Director Jason Kosec – VP Strategic Development
• Over 38 years in strategic, commercial, governance, • Over 10 years of mineral exploration, development and production
and government relations • Master in Earth and Energy Resources
• aspects include acquisition, financing, exploration, permitting and • Sr. Geologist and VP Corporate Development with
development of many world glass assets Barkerville Gold Mines
• CEO, President, Director of Millennial Precious Metals
• Key member behind 13 M ounces
5 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
LIFE CYCLE OF
MINERAL DISCOVERIES
Sable a +
DISCOVERY IS AN
EXTRAORDINARY
- Production
Well VALUE CREATOR
Positioned $
Life Cycle Value
Explorer to
Deliver
- FS Construction
Discoveries
ANOMALIES
- CONCEPT & LAND
DRILL TARGETS PREP
DISCOVERY DRILLING
INITIAL DRILL TESTS
2012 2019 2020 2024
PRE-DISCOVERY DISCOVERY
• High risk early-stage investment • +15 drill targets
• 7 years of persistency & quality work • >35,000m phase 1 drilling
• Time to hunt and retain opportunities • ~$15 M & 4 years
• $12M & years • Sable's & JV partners funds
6 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
PROJECTS
Technical Material
1
1 Vinata Project
Chihuahua State, Mexico
2
2 El Escarpe Project
Queretaro State, Mexico
San Juan Projects
Argentina
7 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
SAN JUAN, ARGENTINA
El Fierro Project
• Historical mining district in San Juan province. 46,391 ha land package
• Polymetallic Epithermal Veins, high grade Ag, Pb, Zn, Cu, Au
• Never drilled or explored in modern times
• Four main zones: Fierro Bajo, Fierro Alto, La Verde, and Lagunitas
• 8.5 km by 5.5 km footprint and growing
Large Mag-Anomaly
• Significant upside potential for additional mineralization
• In February 2021 Sable started the first drill campaign ever conducted
at the project
• 3,278m in 25 drillholes were just completed with multiple high-grade
intercepts released
• Drill results, mapping, geophysics, and soil sampling have granted
more drill targets for next season
8 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
SAN JUAN, ARGENTINA
El Fierro Project
Last Campaign Highlighted Drilling Intercepts
o Hole FB-DH-21-01
LV-DH-21-19 783.8 g/t AgEq (650.6 g/t Ag, 3.44% Pb, 0.11% Cu) over 1.0m from 155.5 to 156.5m
Including 1,556.5 g/t AgEq (1,290 g/t Ag, 6.89% Pb, 0.22% Cu, 0.12% Zn, 0.15 g/t Au) over 0.5m from 156.0 to 156.5m
o Hole FB-DH-21-02A
640.76 g/t AgEq (437.38 g/t Ag, 5.8% Pb, 0.38% Zn) over 1.35m from 92.65 to 94.00m
LV-DH-21-11/18
Including 1,433.6 g/t AgEq (976 g/t AgEq, 13.05% Pb, 0.63% Zn) over 0.6m from 93.40 to 94.00m
LV-DH-21-08
o Hole FB-DH-21-04
LV-DH-21-12
854.78 g/t AgEq (776 g/t Ag, 1.7% Pb, 0.55% Zn) over 0.5m from 56.85 to 57.35m
LV-DH-21-22 o Hole LV-DH-21-08
546.78 g/t AgEq over 9.95m from 78.35 to 88.3m (4.29 g/t Au; 110.67 g/t Ag; 0.135% Cu; 0.58% Pb; 1.06% Zn)
FB-DH-21-01 Including 1,429.2 g/t AgEq over 3.7m from 80.9 to 84.6m (11.53 g/t Au; 281.89 g/t Ag; 0.48% Cu; 1.35% Pb; 2.5% Zn)
FB-DH-21-02A
Including 4,381.1 g/t AgEq over 0.5m from 81.4 to 81.9m (49.8 g/t Au; 55.6 g/t Ag; 0.34% Pb; 3.83% Zn)
o Hole LV-DH-21-11
363.4 g/t AgEq (101.51 g/t Ag; 2.16 g/t Au; 0.23% Cu; 1.25% Pb; 0.33% Zn) over 2.85m from 37.90 to 40.75m
FB-DH-21-04
Including 971.33 g/t Ag Eq (263.64 g/t Ag; 6.32 g/t Au; 0.62% Cu; 2.7% Pb; 0.5% Zn) over 0.85m from 38.25 to 39.10m
o Hole LV-DH-21-12
429.92 g/t AgEq (38.1 g/t Ag; 0.78 g/t Au; 0.13% Cu; 8.68% Pb; 0.7% Zn) over 0.50m from 121.10 to 121.60m
o Hole LV-DH-21-18
343.12 g/t AgEq (145.83 g/t Ag; 0.82 g/t Au; 0.22% Cu; 2.93% Pb; 0.18% Zn) over 1.20m from 89.0 to 90.20m
o Hole LV-DH-21-19
87.31 g/t AgEq (35.27 g/t Ag; 0.71% Pb; 0.68% Zn) over 40.6m
Including 356.30 g/t AgEq over 2.40m
o Hole LV-DH-21-22
450.77 g/t AgEq (49.50 g/t Ag; 0.96 g/t Au; 0.17% Cu; 2.92% Pb; 4.93% Zn) over 0.5m from 76.10 to 76.60m
9 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
Fierro Bajo DH-01
DH-02A
Vein A:
• >500 m high-grade mineralized structure (potential 850 m)
• Additional potential in parallel veins
o 7 drill holes completed
o 2 high-grade intercepts from DH 1 & 2 from Vein A indicating a >500 m section of the
structure that main contain a continuous ore shoot
o DH4 with high grade Ag intercepts in Vein-B DH-04 FB-DH-21-04: 854 g/t AgEq over 0.5 m
10 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
o DH3 low grade and DH5 was lost before getting to the target zoneFierro Bajo Mineralization Styles
• Mineral association: • A parallel structure was
Carbonate – illite – sulphide intercepted in DHs 1,2, and
3.
• Geochemistry: High grade Ag
+ Pb>Zn, no Au • High level hydrothermal
breccia with silica –
• Sulphides: galena, sphalerite, carbonate alteration
Ag sulphosalts, minor Cpy
• Anomalous in gold: 0.2 to
• Structure: Parallel to foliation of 0.4 g/t Au
schist host rock.
• Evidence of a second
• Old workings: most of known mineralized pulse after
old working are in Fierro Bajo. uplifting of first event.
• Classification: Intermediate • Potential for high grade Au-
sulfidation Ag at depth
• Potential: various high-grade
shoots with large vertical
extension.
11 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTLa Verde Vein
• 1,500 m vein defined with small old workings, mineralized boulders, trenches, and 7 drill holes.
• Excellent results from first holes received.
• Mineral association: Granular silica (banded to
• Good surface geochemical expression. semi-banded), illite, ankerite, adularia, chlorite.
• Sulphides: Sph>Ga, Cpy, Ag sulphosalts.
Local specularite, magnetite.
• Geochemistry: High-grade Ag-Au + Zn > Pb-Cu
(± Bi, Sb, As, Mo).
• Structure: E-W fault zone in Miocene volcanics.
4,452 g/t AgEq
• Mining workings: Only a few.
• Classification: Intermediate sulfidation, higher
level than Fierro Bajo.
IP & Drill holes in La Verde Vein: 8, 11, 12, 17, 18, 21, and 22
• Potential: 1.5 km high-grade vein with good
vertical extension. Open in both directions
12 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTLa Verde Vein
343.12 g/t AgEq (145.83 g/t
Ag; 0.82 g/t Au; 0.22% Cu;
2.93% Pb; 0.18% Zn) over
1.20m from 89.0 to 90.20m
600m of separation between these two sections
13 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTLa Verde: LV-DH-21-08
Au Ag
A. 1.73 29.8
B. 49.8 55.6
C. 0.88 164.0
D. 9.16 734.0
E. 10.7 294.0
F. 2.5 304.0
Chlorite
Illite
Ad
A C D F
1. Chlorite – Illite - Adularia Quartz – Illite – Adularia Fault Breccia zone with vein fragments
2. Specularite - Magnetite Mosaic-zoned Qz, drusy Qz
mixed with Ad-illite-
3 Sph (Cpy exsolution) carbonate
> Galena + Carbonate Some Spec over Qz, late
14 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST Sph (Cpy) > GalenaLagunitas
1101.74 g/t AgEq (289 g/t
Ag; 2.67 g/t Au; 0.94%
Cu; 8.26% Pb; 5.13% Zn
over 1.0m
1,031 g/t AgEq (127 g/t Ag; 0.75% Cu; 12.35%
Pb; 10.01% Zn) over 1.0m
Within
156.69 g/t AgEq (53.07 g/t Ag; 0.1% Cu; 1.28%
Pb; 1.19% Zn) over 12.2m
Lagunitas vein system. 1.5 km along strike
Open in all directions
High-grade and long intercepts of lower
grade in hole 19
Multiple high-grade surface results in
15 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST
trenchesEl FIERRO SUMMARY Results:
Successful first drilling campaign
We identified two anchor structures:
1. The A-vein at Fierro Bajo
2. The La Verde Vein
3. In additional of multiple second order structures
Real potential to discover additional main order structures
(Lagunitas Zone)
Next drill season:
1. More aggressive drilling on the two main veins
2. More reconnaissance-drilling searching for additional
first order structures
3. District exploration
Goal:
• Test for a > 120 Moz AgEq potential mineral
district
• Identified and focus on long & high-grade main
16 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BEST order structuresDon Julio (JV with South32)
La Poncha
Au-Cu porphyry targets
Similar style of mineralization of the Filo del Sol
porphyry that recently reported a drill hole with 858
m @ 1.8 % CuEq
• Known Porphyry Deposits in the Region:
! Cerro Casale: 1.2 Bton @ 0.22% Cu & 0.59 g/t Au (23 Moz)
! Caspiche: 1 Bton @ 0.23% Cu & 0.55 g/t Au (19.3 Oz)
! Lobo-Marte:136 Mton @ 0.2% Cu & 1.4 g/t Au (6 Moz)
! Los Helados: 2 Bton @ 0.48% CuEq (including 10 Moz Au)
! Filo del Sol: 259 Mton @ 0.39% Cu & 0.33 g/t Au (2.7 Moz Au)
! Josemaria: 1 Bton @ 0.41% CuEq, including 6.5 Moz Au.
17 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTSAN JUAN ARGENTINA – THE DON JULIO CLUSTER OF TARGETS
Large Porphyry – Epithermal Environment
(JV with South 32)
• 12 x 10 km mineralized and altered zone.
• 4 targets in multi-kilometers epithermal Au-Ag veins
• 1 outcropping Zn-Pb-Cu-Ag skarn target
• 3 interpreted concealed Au-Cu porphyry systems
• 2 advanced high sulphidation Au mineral zones
(partially drilled)
2021 Follow Up Work Plan
• 400 km UAV Mag Survey completed between Feb-Apr 2021
• Detailed Structural Mapping of Fermin Skarn completed in April
2021
• Integrate geology, geochemistry, geophysics and define drill targets
– Q3 2021
• Follow up deep ground IP - Q4 2021
• First Round of Drilling on selected targets – Q1 2022
2km
18 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTSAN JUAN, ARGENTINA
La Poncha Project Last Campaign Summary
• Closed of the option agreement, 18,114 ha
Poncha
North • Re-mapping of the two main targets Poncha South and North
• 190 rock samples collected
• Discovery of mineralization extensions at Poncha South
• Minor exploration outside of the main targets
• Re-Processing and Re-Interpretation of historical Mag and IP
• Re-logging of available historical core from Poncha South
-Identification of porphyry mineralization previously
not recognized
Poncha
South
• Significant improvement on the understanding of the Au-Cu
targets within the property
Age has been determined at 18 Ma, similar to Filo Del Sol
porphyry deposit that recently reported 858 m @ 1.80 CuEq
19 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTSAN JUAN, ARGENTINA
La Poncha Project Target:
Multimillion Ounces Bulk Tonnage Gold – Copper Deposit
Poncha
South
Next Campaign
• Additional mapping on selected areas of the project
Poncha North Schematic Section
Showing Conceptual
• Rehabilitation of road access from Colanguil village to the
Target
project and roads within the project in preparation for drilling
• Trenching over newly identified mineralized structures at
Poncha South
AA
l IA
Leve
Ero sion Phyllic • 5,000m drilling
Target • Continuation of regional campaigns within unexplored zones
Exploration Question: of our property package a La Poncha
Are there porphyry phases with
> 1 g/t Au or ~1.2 CuEq below
the roots of the outcropping
epithermal systems?
20 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTSAN JUAN, ARGENTINA
Los Pumas Project
- New Greenfields Discovery
- 21 km south of Don Julio Cluster
- Never sampled and never drilled before
- Intrusion Related Au-Ag-Cu mineralization
- 6km by 4km footprint. Open in all directions
- Values up to: - 103 g/t Au
- 2,650 g/t Ag
- 2.9% Cu
Work for Q4 2021 includes:
- Road access
- Trenching
- Soil Sampling
- Geophysics
Exploration at Los Pumas will be funded by JV
380 g/t Ag
partner South32
21 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTMEXICO
Mexico Properties
2021 Summary
• Last drilling at Vinata conducted in Jan 2021. No significant results but the project remains
a significant low-grade Au anomaly that needs better understanding
• Q1 and Q2 were dedicated to the evaluation of stream sediment anomalies within our
26,673 titled hectares in Chihuahua (after recent reduction)
• Areas with no potential have been discarded and claim reductions were applied last May
• The Company continues working with its legal team in Mexico trying to accelerate the titles
of its vast mineral applications in Chihuahua, Zacatecas, and Queretaro, where the
Escarpe project is located
• The Company keeps looking for new projects in Mexico
• The Company is keeping the expenses in Mexico to the minimum
22 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTPATHWAY TO DISCOVERY
Timeline
2021 Timeline
EL FIERRO DRILLING
DON JULIO MAG
PONCHA PHASE 2
DON JULIO DRILLING
PONCHA DRILLING
PUMAS PHASE 2
Q1 Q2 Q3 Q4
2011-2024 Timeline
EL FIERRO DRILLING
DON JULIO DRILLING
PONCHA DRILLING
SAN JUAN REGIONAL
MEXICO PHASE 1&2
NEW OPPORTUNITIES
2011-2017 2018 2019 2020 2021 2022 2023
PROJECTS DRILLED PER YEAR 2 2 3 5 4
Note: In April 2019 Canadian assets spun out into Talisker Resources Ltd.
23 TSXV:SAE | GREENFIELDS EXPLORATION AT ITS BESTTSXV:SAE
Thank You
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