Sable Resources Ltd: Company Update

VANCOUVER, Sept. 17 /CNW/ -

New Acquisition

Sable Resources Ltd is pleased to announce that it has acquired by staking a new mineral tenure south of Christopher James Gold's Lawyers property, and west of the Company's Perry Mason claims. This new land package consists of 11 square kilometers, and brings Sable's total land holdings to 72.3 square kilometers of contiguous claims and mining leases in the Toodoggone Gold Camp, located in north-central British Columbia. This recently acquired land package has received little to no exploration work since the late 1980's. It is underlain by highly prospective geology, similar to that found at the nearby, past producing Cheni and Baker mines. Reconnaissance exploration work is ongoing and will compliment already completed airborne geophysics to produce specific exploration targets for future development programs.

Shasta Drill Program

19 holes consisting of 7300 feet of diamond drilling has been completed on the Shasta property. 15 holes targeted the Creek zone, which is the current zone of underground development, and extended known mineralization for approximately 100 m to the north. The rest of the drilling tested the north end of the previously mined D zone, which has produced the richest ore from Shasta with an average grade of approximately 0.25 oz Au, and 15 oz Ag per ton. These drillholes carried mineralization over most of their length, and were successful in defining what is thought to be a fault offset of the D zone. The zone's close proximity to existing workings make this an attractive development target. Assay results for most of the samples are pending.

Shasta Underground Development

Underground development is currently progressing at the Company's 100% owned Shasta mine. The planned development consists of 500 m, and will explore the Creek zone ore body on both the 1233 m and 1220 m levels. The development has reached the 1233 m level, and a second heading has now begun that will intersect the main ore zone, while the original heading will continue to decline to the 1220 m level. Upon completion of the planned development, production will begin from the mine for processing at the Company's nearby 250 ton/day Baker mill. In addition a 10 m drift was driven to the north of the historically mined D zone, and has intersected a zone of mineralization below the D offset zone as identified by drilling done earlier this year. Surface trenching above this zone indicates that mineralization continues to surface.

Company president Mel Rahal commented, "This is a very exciting and busy time for Sable. The underground mining is going well, and we are already stockpiling material for future processing. The mill underwent a number of upgrades this summer which should increase future gold and silver recoveries. Work to expand the tailings storage capacity is nearing completion."

About Sable Resources

Sable Resources Ltd controls over 73 square kilometers of mineral claims and mining leases in the highly prospective Toodoggone gold camp. The Toodoggone camp consists of moderate sized, high grade epithermal gold and silver deposits, and bulk tonnage copper gold porphyry deposits such as the nearby Kemess Mine. Sable's strategy is to acquire, amalgamate, and develop these deposits into a multi-million ounce district for production at the Company's centrally located mill, while exploring for potential bulk tonnage porphyry deposits.

The Company is currently involved in underground development of the Shasta gold-silver deposit, and is actively exploring the adjoining Perry Mason claims, as well as the past producing Baker mine for tonnage amenable for production at the Company's existing mill infrastructure.

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