Sable Resources: Pushing Forward with Scorpius Development

Following the signing of a binding agreement, Sable Resources Ltd. has announced its intention to advance the development of the Scorpius Project. This deposit, characterized as a highly sulfidated epithermal gold system, is situated within Peru’s central gold belt, an area renowned for its mining potential.

Key exploration findings include historical gold grades ranging from 0.1 to 7.7 grams per ton. Sable Resources aims to secure permits for an aggressive exploration campaign, including defining and testing drill targets.

Acquisition Terms and Future Prospects

The agreement specifies that Sable Resources will acquire 100% of Scorpius by disbursing $1 million, payable in cash or shares.

Despite the transfer, Alpha Mining SAC will retain a 1% net smelter return (NSR) on the project’s eventual commercial production, ensuring ongoing benefits from the venture.

Source: http://proactivo.com.pe/desarrollarian-proyecto-scorpius/