Toronto, Ontario--(Newsfile Corp. - March 18, 2021) - Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that the phase 1 drilling program has been approved for the Company's 100% owned Tartan Lake Gold Project near Flin Flon Manitoba. Highlights include:
- Program to commence by April 15, 2021;
- 3000 metres of NQ diameter diamond core drilling targeting the high grade, down-plunge extension of the Main Zone;
- Two, 900 meter pilot holes targeting the Main Zone at a vertical depth of 600 metres below surface (See Figure 1.0);
- Two wedge holes to be established from each pilot hole to complete a 50 x 50 meter drill pattern; and
- 500 metres targeting the down dip continuation of the adjacent South zone mineralization.
The objective of the program is to extend both the Main and South Zone resource limits. Drilling at the Main Zone targets the area down plunge of the high grade core, exploited by the historical mine workings. The current limit of the Main Zone target is defined by a fence of drill holes that returned 13.23 g/t Au over 4.8 meters, 6.13 g/t Au over 3.4 meters and 7.96 g/t Au over 2.3 meters (all intercepts reported as true width). See Figure 1 (Longsection view of the Tartan Lake Main Zone - looking north).
At the South zone, the initial drilling is targeting the down dip continuation of the high grade mineralization.
Jennifer Boyle, Chief Executive Officer, states, "We are very excited to resume exploration at Tartan Lake. This property has been overlooked since operations ceased in 1989. Road accessible projects, in established mining jurisdictions, with established, high grade gold deposits having minimal exploration expenditures are very unique. What is even more rare are projects with significant development in place. Active mining at Tartan Lake ceased in 1989 when gold prices plunged below US$ 375 per ounce. With grid connected power in place and a 2100 metre decline accessing the mineralization, Tartan Lake is a compelling opportunity, offering near term resource discovery potential, existing infrastructure and long term exploration upside. Our goal with this maiden drill program is to clearly demonstrate the high grade discovery potential of the property before focusing on near term resource growth."
The spring drill program is fully funded and barring any unforeseen delays due to COVID restrictions, the objective is to complete the initial drilling in Q2, 2021.
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.
Figure 1: Longsection View of the Tartan Lake Main Zone - Looking North
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ABOUT SATORI RESOURCES INC. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba. Recently Satori acquired New Delhi Project, an advanced polymetallic gold project in the Sudbury Mining District, Ontario.
The Tartan Lake Project (2,670 Ha.) is located approximately 12 kilometres northeast of Flin Flon, Manitoba, and includes the Tartan Lake Mine (1986-1989); which produced 36,000 ounces of gold from 250,000 tonnes of ore feed. Remaining infrastructure includes: all season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 metres in width. The veins vary from several centimetres to several metres in width and gold grades vary from 1.0 to +100 g/t. Mineralization at the mine is currently drill limited and open at depth.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B.
President and Chief Executive Officer
Satori Resources Inc.
(416) 904-2714
jennifer@capexgroupinc.com
Mr. Pete Shippen
Chair, Satori Resources Inc.
pjs@extramedium.ca
416-930-7711
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This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
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