News OutSaturn, Swift drill 9.74 m of coal at Saskatoba
2010-02-24 16:22 ET - News Release
Mr. Mike Elson reports:
SATURN AND SWIFT COMPLETE PHASE 1 DRILLING OF SASKATOBA PROJECT
Vancouver, February 24, 2010 - Saturn Minerals Inc. - SMI: TSX.V ("Saturn")& Swift Resources Inc. - SWR: TSX.V ("Swift") (the "Companies"), have completed Phase 1 of the diamond drill program on the Armit property component of their Saskatoba Coal Project in eastern Saskatchewan near the town of Hudson Bay. The program consisted of 12 vertical holes totaling 1,680 meters. Coal seams were intersected in 6 holes. Some holes intersected more than one coal seam at different depths. The following table identifies the most significant coal intercepts:
Drill hole Coal intersection (metres) Width
label From To (metres)
1. Arm-09-A1-003 102.70 103.96 1.26
And 112.22 121.96 9.74
2. AR-C-1 99.82 101.04 1.22
And 109.12 118.57 9.45
3. AR-B-1 103.94 105.00 1.07
And 111.65 113.93 2.29
4. AR-X-1 104.03 107.75 3.72
5. AR-C-3 98.15 100.28 2.13
Two drill holes (labeled 1 and 2 respectively in the Table) located 220meters apart intersected 9.74 and 9.45 meters of coal of the lower coal seam with additional 1.26 and 1.22 meters of coal intersects, respectively, of theupper coal seam. Four holes did not intersect coal, and two other holes did not reach target depth, and were prematurely abandoned due to technical problems encountered at the beginning of the program.
Stratigraphic correlation indicates two thinner intersections of the lower coal seam in drill holes numbered 3 and 4 in the Table and located 4,400 meters apart. The drilling proves the presence of 2 significant coal seams in the north-central part of the Armit property, and the Companies are extremely pleased with the initial results.
The drill program was designed to test airborne geophysical targets as identified in the recently completed NI 43-101 report (see news release, Nov.23, 2009). The program has identified that the geophysical controls ofcoal-bearing sub-basins are more complex than anticipated. Drill core material from the program has provided the Companies with excellent geological data necessary for the understanding of paleo depositional settings related to local coal accumulation, and down-hole geophysical surveys conducted in the program have provided direct characteristics of the physical properties of rock formations, and will provide lithological adjustments in areas where core recoveries were reduced. The Companies have initiated reinterpretation of the airborne data to prioritize further drill programs of their Saskatoba Project properties.
Coal samples have been submitted for laboratory analysis. Adjustments to coal seam thickness and depth, based on the results of down-hole geophysical logging and laboratory results, may be made in the final results of the drill program.
Kluane Drilling Ltd. of Whitehorse, Yukon, provided drilling services for the program. Down-hole logging was provided by Century Wireline Services of Calgary,Alberta. The drill program was completed under the direction of Alex Walus,P.Geo. and Dr. Krzysztof Mastalerz, P.Geo., the Companies' Qualified Person under NI 43-101 standards who has reviewed and approved the technical content of this release.
SATURN MINERALS INC.
SWIFT RESOURCES INC.
Mike Elson
President
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