Mining And Milling Operations Update At Shasta
PRESS RELEASE FOR IMMEDIATE RELEASE
Mining And Milling Operations Update At Shasta
Vancouver, British Columbia, Canada, February 3, 2010.
Sable Resources Ltd. (TSX.V: SAE) is pleased to update shareholders on operations at the Company’s 100% owned Shasta mine and Baker mill, located in the Toodoggone region of north-central British Columbia.
Milling Operations Upgrades and refurbishments of the Baker mill were substantially completed in the fourth quarter of 2009 allowing for increased throughput levels. Upgrades included a new screening plant and the installation of two new generators providing for increased crushing capabilities, improved power reliability and reduced risk of downtime. Further improvements will be done incrementally over time. The mill is now operating near full capacity with average throughput of approximately 170 tons per day in January with a daily high throughput of 208 tons in one day, providing confidence that operations has the ability for further growth..
Mining Operations Mill feed is provided from the underground Shasta mine. Production from the mine is now relying heavily on sub-level stoping methods, resulting in increased production. The Company believes that current mining activities will be able to provide sufficient mill feed to keep the mill running at full capacity.
Exploration Activities In addition to funding capital upgrades to site infrastructure, plant and equipment, cash flow from operations are expected to fund both underground exploration and a comprehensive regional exploration program this year. Underground exploration will target extensions of known mineralization allowing the Company to plan for future year’s production and the necessary development program to accomplish such. Underground exploration is expected to commence in the next two months and discussions currently underway with drilling contractors.
The regional exploration program is planned for the summer of 2010. The program is being developed in conjunction with the comprehensive compilation work being done and in consultation with various individuals who have worked on the project over the years. We expect the program will consist of drill testing the historically mined Baker ‘A’ vein which is open to depth, and the ‘B’ vein which is open to depth and along strike, as well as a new vein which was discovered during the 2009 field season on the Baker upper ridge zone located within 600 metres of the ‘A’ vein. The Baker ‘A’ and ‘B’ veins produced 41,285 ounces of gold and 765,677 ounces of silver at an average grade of 16.6 ppm gold and over 308 ppm silver. These high grades, proximity to the mill, and location on an existing mining lease make these ‘bonanza’ style veins a priority target for the Company.
About Sable Resources Limited: http://www.sableresources.com
Sable Resources is focused on the development and exploration of its gold and silver properties in the Toodoggone region of northern British Columbia. Sable owns a modern, fully-permitted 200-ton per day mill and supporting infrastructure.
For More Information Contact:
Melvyn Rahal, President & C.E.O.
[email protected] Tel: (604) 685-8565 Fax: (604) 685-7625 1290 – 625 Howe Street Vancouver, BC V6C 2T6 Or visit http://www.sableresources.com/
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the corporation’s control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.