Toronto, April 19, 2021 -
Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that diamond drilling has commenced on the first hole of an initial 3,000m diamond drill program, testing the down-plunge extension of the Main Zone, at Satori's 100% held Tartan Lake Gold Mine Project, Flin Flon, Manitoba.
Hole TLMZ21-01 is planned to intersect the Main Zone at a vertical depth of 600m, approximately 25 meters west of the previously drilled section. Hole NAP271W4, one of the most westerly holes drilled on Section 324325E intersected 7.96 g/t Au over 2.3m (true width). The Main Zone was developed and mined from surface to the 300 metre level in the mid 1980s prior to mining being suspended due to a declining gold price. This drill program is designed to expand the Main Zone mineralization at depth, in advance of an updated mineral resource estimate.
In preparation for this drilling campaign, Satori engaged Manitoba based geologist Rory Krocker, B.Sc., to perform a ground reconnaissance program in late 2020, and Rory is currently at site managing this drill program. Jeff Ackert, project manager (see news release February 23, 2021), is co-ordinating the details of the program between field and office.
The application of modern, leading edge geophysical analyses undertaken by Jeremy S. Brett, M.Sc., P.Geo. in late 2020 and early 2021 enabled Wes Hanson P.Geo., Satori's Lead Technical Director, to select drill targets offering the greatest potential to quickly expand the current mineral resource. The property further offers excellent discovery potential from a number of nearby surface targets identified from past prospecting, most of which have seen limited drilling. The last significant regional-scale exploration was conducted in the mid to late 1980s, and Satori believes that modern geophysics will generate additional targets within the claim package.
Jennifer Boyle, Chief Executive Officer, states "Our initial drilling will focus on the near term resource expansion potential offered by the down plunge continuation of the high grade Main Zone target. Once we have evaluated the Main Zone target, we plan to shift our focus to the adjacent South Zone mineralization, less than 100 meters away from the historical ramp development. Depressed gold prices (below USD$375) and mechanical issues (processing) led to the early closure at Tartan Lake (1989), leaving significant infrastructure in place. With demonstrated potential to host high grade mineralization, a favourable jurisdiction, road accessible exploration and a seasoned technical team, Satori is poised to reinvigorate the Tartan Lake property and generate stakeholder value."
The drilling is expected to continue through to the end of May, 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: Setting up the drill for hole TLMZ21-01 at Satori's Tartan Lake Gold Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3276/80833_satori1enhanced.jpg
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.
(416) 930-7711
pjs@extramedium.ca
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