Sable Resources (TSXV: SAE; US-OTC: SBLRF) has extended the mineralized corridor at its Margarita silver project in Chihuahua State, Mexico, 350 metres to the northwest with results from its ongoing 19-hole Stage 2 drill program.
The company is targeting the project's Margarita Vein, where it recently drilled the project's best intercept. Hole 24 cut 116.93 grams silver, 0.7% zinc, 0.21% lead and 0.17 gram gold, or 177.05 grams silver equivalent, over 37.35 metres from 74 metres downhole.
That includes 400.45 grams silver, 3% zinc, 1.09% lead and 1.07 grams gold, or 688.9 grams silver equivalent, over 5.5 metres from 102 metres downhole.
The company also recently completed exploration programs at its Don Julio gold project in Argentina and its Scorpius gold project in Peru.
The company drilled 3,000 metres across 11 holes at Don Julio and did not encounter any significant mineralization. It says it will figure out how to move forward at Don Julio while refocusing on its other projects.
At Scorpius, the company mapped a 4-sq.-km area, collected 49 rock samples, and performed 4 km of induced polarization survey across four lines. Rock samples graded as high as 4.91 grams gold with 19 of the samples grading between 0.1 and 1 gram gold. Historic samples provided by the tenement holder graded as high as 7.75 grams gold. The company has requested drill permits from the Peruvian government and expects to start drilling the project in 2019's third quarter.
Sable shares are currently trading at 14 ? with a 52-week range of 12 ? to 36 ?. The company has a $20-million market capitalization.