Wallbridge Mining Company Limited press release
Third 2006 Drill Program Completed - 2006 Work Summary
TSX - Toronto Stock Exchange · Gold · Canada
VANCOUVER, BC, Nov. 15 /CNW Telbec/ - Sable Resources Ltd. (TSX.V: SAE) reports that it has completed its third diamond drilling program of the year at our 100%-owned Toodoggone project in northern British Columbia, Canada. In 2006, Sable's exploration programs included a total of 2,823 metres of diamond drilling in 28 holes at three separate targets. The first program, in June, was conducted on the Creek zone at the Shasta mine. The second drill program of the year (three drill holes; 495 metres), targeted geophysical anomalies on the Ridge zone at our Chappelle property. The final program of the 2006 season (five drill holes totaling 817 metres) focused on two of our exploration targets: the Black Gossan porphyry and again at the Ridge zone. During the summer of this year, Company staff completed an in-house data review on the Creek zone at the Shasta mine. This review concluded that future exploration, development and mining of this Zone be conducted from underground. Sable has filed a Notice of Work with the BC Government for construction of an underground ramp from existing workings to provide access to the Creek zone. Discussions with contract mining companies are ongoing, with a target for commencement of development in early 2007. Additionally, Company staff and contractors successfully conducted work at our mineral processing facility. This program of process improvements and maintenance activities will allow for a quick mill re-start at full tonnage capacity.
Creek Zone - Shasta Mine
The Shasta Mine is located 11km from our processing and camp facilities. Since 1995, Sable has extracted over 20,417 ounces of gold and 1.1 million ounces of silver from underground and surface workings at the "D", "JM" and Creek zones. The Shasta is a fully-permitted mining lease. The Creek zone is located adjacent to other mined areas of the Shasta, and has been extensively drilled by the Company over the past several years. Sable conducted open-pit mining at the north end of this Zone in the summers of 2004 and 2005. In 2006, twenty diamond drill holes (1,511 metres) were completed. All 2006 drill holes were successful in confirming mineralization in areas between previous exploration. Drill holes are collared roughly on a north-south line and on a 90 degree azimuth. Mineralization at the Creek zone is found both in the footwall of the Creek Fault, and in a quartz breccia structure adjacent to the fault.
<< Significant Creek zone assay results are:
Interval Gold Gold Silver Hole No. (metres) Equivalent(x) oz/t oz/t DD05-02 18.3 0.517 0.197 15.98 DD05-03 2.1 0.554 0.327 11.37 DD05-07 3.4 0.450 0.341 5.45 DD05-10 4.4 0.369 0.221 7.39 DD06-01 2.9 0.223 0.091 6.60 DD06-05 4.5 0.207 0.101 5.29 DD06-05 5 0.209 0.106 5.17 DD06-07 9.8 0.187 0.147 1.99 DD06-08 3.8 0.275 0.161 5.68 DD06-09 15 0.514 0.291 11.13 DD06-10 20.3 0.190 0.124 3.30 DD06-12 3.6 0.210 0.106 5.21 DD06-13 8.8 0.228 0.108 5.98 DD06-14 10.2 0.264 0.112 7.61 DD06-17 2.1 0.447 0.245 10.10 DD06-18 7.2 0.171 0.099 3.62 DD06-21 29.9 0.471 0.236 11.75 (x) Gold equivalent is calculated at a ratio of 50 ounces silver (+/-) 1 ounce gold. >>
Drilling has demonstrated continuity of the mineralized zone over a minimum of 300 metres. The Creek Zone remains open to expansion at depth, and along strike in both directions. (See news release dated August 17, 2006 for more detailed results). Sable is targeting the Shasta Creek zone to provide gold and silver mill feed in 2007 to our 200 ton-per-day, fully-permitted, mineral processing facility.
Ridge Zone - Chappelle Mine
In October and early November 2006, four diamond drill holes, totaling 305 metres, were completed at the Ridge Zone. Assay results are pending for these holes. The Ridge zone is located on a fully-permitted mining lease, approximately 400 metres north of the existing Chappelle mine workings, where since the 1980's, DuPont of Canada, and the Company have produced a total of 41,285 ounces of gold, 765,677 ounces of silver and 13,000 kilograms of copper. The Chappelle mine may be described as a high-sulphidation epithermal deposit in the style of the El Indeo mine in Chile. Exploration potential is excellent for discovery of additional resources on the Chappelle claims. On the Ridge zone, the company has conducted extensive surface trenching and shallow drilling in the area of a float train of high-grade gold boulders (up to 12.6 oz/t (434.5 g/t) of gold and 300 oz/t (10,344 g/t)of silver). In 2004, a Three-dimensional Induced Polarization geophysics survey was completed which increased the target area and confirmed chargeability and resitivity anomalies at depths similar to the ore horizon of previously mined zones at the Chappelle.
Black Gossan Area
While Sable continues to focus on our higher-grade epithermal gold and silver mineralization to provide feed for the Company's mill, other targets of interest are located on our property. One of these areas, the Black Gossan copper/gold porphyry, is being explored as a bulk-tonnage copper/gold porphyry along the lines of the Kemess South and Kemess North deposits located approximately 45 km south. Prior geochemistry, geophysics, trenching and diamond drilling have established a large zone of anomalous copper and gold values. In October 2006, one diamond drill hole (512 metres) was drilled to test a possible down-dip extension to the Black Gossan anomaly. This hole was collared near the area of drill hole DD04-26, where gold values ranged from 0.02 to 0.61 grams gold per tonne over the entire 290 metre length. Assay results are pending for this hole.
About Sable Resources Limited: http://www.sableresources.com
Sable Resources is focused on the development and exploration of its Shasta and Chappelle Properties in the Toodoggone region of northern British Columbia. Sable owns a modern, fully-permitted 200-ton per day mill and supporting infrastructure.
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