Accelerating into 2021 with the Tartan Lake Gold Mine ProjectToronto, Ontario–(Newsfile Corp. – February 5, 2021) – Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) is pleased to announce that the unique market trends throughout 2020 provided Satori with the opportunity to accentuate the potential that lies within the Company’s wholly-owned Tartan Lake Gold Mine Project near Flin Flon, Manitoba. The following information highlights how the 2020 activities support the Company’s 2021 plans to unlock value in the Tartan Lake Gold Mine Project: Key 2020 advancements:
- Capital raise of C$918,000 (including $775,465 December 2020) was completed with a supportive base of shareholders.
- Dual track plan of mine development and new exploration was launched.
- Technical team changes were made with the appointments of Wes Hanson and Doug Flegg.
- Observations of the historical compilation indicate that the Main Zone remains open to depth along with plunge and supports deposit expansion. The geometry suggests that historic holes to the west of the Main Zone drilled over top of the target. The down plunge target area represents a compelling exploration target that is immediately accessible for diamond drilling.
- Comprehensive geophysical compilation study of several diverse historical technical data sets provided Satori with better confidence in drill targets was completed.
- Environmental studies coordinated the environmental assessment and licensing process required to optimize Satori’s environmental permitting objectives.
- Ground reconnaissance program was launched to evaluate untested targets outside of the deposit area and to obtain technical field data to support analyses of the comprehensive geophysical compilation.
- Acquisition of a secondary brownfields polymetallic gold project in Ontario was completed.
The following is our 2021 outlook:
- Deep diamond drilling to commence at the open and untested down plunge target area at the Main Zone where historic up plunge holes intersected up to 13.23 g/t Au over 4.8m and 7.96 g/t Au over 2.3m.
- Drilling new targets identified outside of the deposit area indicated by favorable analysis of the recent geophysical compilation study and from proposed follow-up surveys.
- Drilling Permit application has been submitted to the Mines office, Manitoba.
- Road maintenance has recently been completed in order to prepare for a winter drill program.
- Environmental regulatory applications to be submitted for mine development evaluations.
- Controlled Source Audio Magnetotelluric (CSAMT) survey to evaluate the down plunge potential of the Main and South Zones at depth to be completed.
- Induced Polarization (IP) survey to evaluate the along-strike extent of the host shear zone system to the east and west of the historic mine, as well as to evaluate select target areas along the conductive anomaly highlighted by the older HLEM and VTEM surveys, wo be completed.
- Technical team will be expanded.
Jennifer Boyle, Chief Executive Officer, states, “The Tartan Lake Gold Mine Project offers the ability to carry out a dual-track program of developing a former operating high-grade gold mine, while adding new exploration targets on a road-accessible property, in an established, world-class mining district – where management believes that approximately 50% of the pre-mining reserve remains in place within fully developed underground sections.”
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release. Mr. Hanson, the former Chief Mine Geologist at Tartan Lake Gold Mine Project.
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 kilometers 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. The remaining infrastructure includes an all-season access road, grid-connected power supply, mill, mechanical, warehouse, and office buildings, tailings impoundment, and a 2,100 meter decline and developed underground mining galleries to a depth of 300 meters from the surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 meters in width. The veins vary from several centimeters to several meters 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.
Mr. Pete Shippen
Chair, Satori Resources Inc.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
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.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73758