Sable Resources Secures Additional $5 Million for Exploration
Sable Resources Secures Additional $5 Million for Exploration
VANCOUVER, British Columbia — Sable Resources Ltd. (TSXV:SAE | OTCQB:SBLRF) has officially announced a significant financial development. The company has received a $5 million payment from OR Royalties Inc. This payment is tied to the royalty agreement regarding TDG Gold Corp. which Sable sold to OR. This step marks a crucial moment for Sable, facilitating further growth and exploration initiatives.
Understanding the Investment Agreement
The recent payment is in line with the established Sable-OR Investment Agreement. Following a recent announcement regarding TDG's drilling results at its Greater Shasta-Newberry project, Sable achieved a critical milestone known as the Discovery Milestone. This outstanding development prompted the release of the additional $5 million, underlining the strong performance of the project.
Progress on Financial Transactions
With this latest payment, Sable has received a total of $8.8 million from the sale of the royalty to OR Royalties Inc. Moreover, the company could potentially secure an extra $2 million if OR decides to exercise its option for an additional 1% royalty on several of Sable’s properties, including the Copper Queen, Copper Prince, and Core Mountain properties in British Columbia. This agreement entails a strategic expansion of Sable’s profitable ventures.
Reinforcing Financial Stability
Ruben Padilla, Sable’s President and CEO, expressed enthusiasm regarding the $5 million payment. He emphasized how this additional funding significantly bolsters Sable’s treasury. This influx of cash will not only enhance the company’s exploration programs but also further support ongoing business development efforts.
The Vision of Sable Resources
Sable is driven by a unique vision focused on becoming a leading junior explorer. The company strives to discover Tier-One precious metal and copper projects through meticulous exploration in privileged mining regions. Positioned in areas known for their resource abundance, Sable is channeling efforts into developing an expansive portfolio of new Greenfields projects.
Ongoing Projects and Future Potential
Among Sable’s various exploration interests is the San Juan Regional Program, which encompasses an extensive area of 163,969 hectares. Included in this endeavor are several promising projects such as Don Julio, El Fierro, and Cerro Negro located in San Juan Province, Argentina. Additionally, the properties in British Columbia, namely Copper Queen, Copper Prince, and Core Mountain, are also pivotal to Sable’s strategic growth and resource development.
Contact Information for Inquiries
For those interested in further details regarding Sable Resources, inquiries can be directed to Ruben Padilla, the President & CEO. He can be reached via email at ruben.padilla@sableresources.com or by phone at +1 (520) 488-2520. Sable is also committed to transparency and will continue to communicate their financial updates to stakeholders.
Frequently Asked Questions
What is the significance of the $5 million payment?
The $5 million payment enhances Sable's financial position and supports its exploration initiatives following the achievement of a key milestone related to TDG's drilling results.
How much total money has Sable received from OR Royalties?
Sable has received a total of $8.8 million from the royalty sale to OR Royalties Inc.
What projects are included in Sable's exploration efforts?
Sable is exploring the Don Julio, El Fierro, and Cerro Negro projects in Argentina, and also the Copper Queen, Copper Prince, and Core Mountain properties in British Columbia.
Who can I contact for more information on Sable?
For further information, you can reach out to Ruben Padilla, President & CEO, at ruben.padilla@sableresources.com or call +1 (520) 488-2520.
What is Sable's long-term vision?
Sable aims to establish itself as a leading junior explorer focused on identifying high-potential precious metal and copper projects through systematic exploration.
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