Gold

Satori Resources has launched its campaign on the Investing News network

Satori Resources (TSXV:BUD) redevelops past-producing mines to have a quicker path to production by leveraging existing infrastructure, workforce and historical data. Its flagship project is the 100 percent owned Tartan Lake Gold project near Flin Flon, Manitoba. The past-producing Tartan Lake Gold Mine was operational from 1986 to 1989 but was shut down when the price of gold fell below $400 per ounce in 1989.


The Flin Flon Snow Lake Greenstone Belt, home of the Tartan Lake Gold project, is considered one of the largest and most prolific greenstone belts in the world. Greenstone belts are unique geologic features that can contain numerous minerals, such as copper, silver and zinc. More importantly, there is a strong presence of gold deposits in greenstone belts. The Tartan Lake Gold project contains 20 mineral claims across 2,670 hectares, and produced 47,000 oz of gold from 1987 to 1989.

Tartan Lake Gold Mine Project

Satori Resources' Company Highlights

  • Satori's July 2021 drilling campaign extended the Main Zone over 200 metres down plunge, evidencing that mineralization remains open at depth, along plunge.
  • The grade and thickness of the mineralization in certain holes drilled in the summer of 2021 are not only consistent with the historical drill results but are also comparable with results currently being reported at some of Canada's most exciting gold discoveries in Red Lake and Newfoundland.
  • Satori drilled longest and highest grade interval at the South Zone, averaging 9.59 g/t Au over 11.75 metres, and Main Zone returned 9.73 g/t Au over 4.15 metres.
  • For the first time in decades this project is benefitting from a new team applying modern day techniques in a robust gold environment. The entire project area has been overlooked for decades and is sparsely-drilled.
  • During fall 2021 ground reconnaissance program investigating remote showings, the low water levels exposed significant outcrop along the shoreline of Batters Lake, exposing extensive zones of shearing with favourable quartz-carbonate-tourmaline veining and sulphide mineralization similar to what is observed at the Main and South Zones.
  • Satori Resources holds a 100 percent interest in the Tartan Lake Gold project (subject to a 2% NSR interest with a buy-back right) which includes a 450 mt/day processing plant.
  • The Tartan Lake Gold project sits upon one of the largest greenstone belts on the planet, a geologic feature that is known for containing gold
  • The project has existing infrastructure that will reduce the time and resources required to become operational
  • Previous operations in the Tartan Lake Gold Mine produced 47,000 ounces of gold between 1987 and 1989
  • Satori Resources is operated by a strong management team

Click here to connect with Satori Resources (TSXV:BUD) to receive an Investor Presentation

BUD:CA
Satori Resources

Satori Resources


Overview

Gold has historically been considered an inflation-resistant investment that is a reliable addition to any investor's portfolio. Even though the price of gold can experience drastic changes similar to a stock or bond, gold typically exhibits an overall consistent price increase when viewing it as a long-term investment.

While many investors may look for companies with new exploration projects, past-producing gold mines often offer some of the best exposure to gold. Companies that redevelop past-producing mines have a quicker path to production by leveraging existing infrastructure, workforce and historical data. Combined with the right management team, this provides ideal conditions for a successful mining venture.

Satori Resources (TSXV:BUD) is one such company. Its flagship project is the 100 percent owned Tartan Lake Gold project near Flin Flon, Manitoba. The past-producing Tartan Lake Gold Mine was operational from 1986 to 1989 but was shut down when the price of gold fell below $400 per ounce in 1989

Tartan Lake Gold Mine Project

The Flin Flon Snow Lake Greenstone Belt, home of the Tartan Lake Gold project, is considered one of the largest and most prolific greenstone belts in the world. Greenstone belts are unique geologic features that can contain numerous minerals, such as copper, silver and zinc. More importantly, there is a strong presence of gold deposits in greenstone belts. The Tartan Lake Gold project contains 20 mineral claims across 2,670 hectares, and produced 47,000 oz of gold from 1987 to 1989.

In an interview with INN, Satori Resources CEO Jennifer Boyle shared that the company has a dual-track strategy to advance the Tartan Lake Gold project. This strategy includes a primary focus of resource expansion (exploration) while simultaneously evaluating putting the mine back into production.


Satori Resources has a strong management team with the experience required to help nurture this promising project. Jennifer Boyle, the President and CEO, brings decades of experience as a mining executive who has a successful history of co-founding and re-organizing mineral companies. Peter Shippen, Chairman, has 20 years of experience as an investor in capital markets and brings his financial expertise to the company. Wes Hanson is the lead Technical Director who worked underground at the Tartan Lake Gold project as chief geologist during the time that the mine was in production (1986 to 1989). Wes brings a wealth of historic information and directs the technical activities at the Tartan Lake Gold project. Doug Flegg, Director, brings 30 years of mining and finance experience, along with a technical background in geology. Jeffrey Kilborn, director, is a seasoned finance executive.

Company Highlights

  • Satori's July 2021 drilling campaign extended the Main Zone over 200 metres down plunge, evidencing that mineralization remains open at depth, along plunge.
  • The grade and thickness of the mineralization in certain holes drilled in the summer of 2021 are not only consistent with the historical drill results but are also comparable with results currently being reported at some of Canada's most exciting gold discoveries in Red Lake and Newfoundland.
  • Satori drilled longest and highest grade interval at the South Zone, averaging 9.59 g/t Au over 11.75 metres, and Main Zone returned 9.73 g/t Au over 4.15 metres.
  • For the first time in decades this project is benefitting from a new team applying modern day techniques in a robust gold environment. The entire project area has been overlooked for decades and is sparsely-drilled.
  • During fall 2021 ground reconnaissance program investigating remote showings, the low water levels exposed significant outcrop along the shoreline of Batters Lake, exposing extensive zones of shearing with favourable quartz-carbonate-tourmaline veining and sulphide mineralization similar to what is observed at the Main and South Zones.
  • Satori Resources holds a 100 percent interest in the Tartan Lake Gold project (subject to a 2% NSR interest with a buy-back right) which includes a 450 mt/day processing plant.
  • The Tartan Lake Gold project sits upon one of the largest greenstone belts on the planet, a geologic feature that is known for containing gold
  • The project has existing infrastructure that will reduce the time and resources required to become operational
  • Previous operations in the Tartan Lake Gold Mine produced 47,000 ounces of gold between 1987 and 1989
  • Satori Resources is operated by a strong management team

Key Project

The Tartan Lake Gold Mine

The Tartan Lake Gold Mine covers 2,670 hectares and includes past-producing mines that have historically produced approximately 47,000 ounces of gold from 250,000 tonnes of ore. It is important to note that the previous mines did not shut down due to resource exhaustion, but due to the price of gold dropping below US$400/oz in 1989, which destroyed the profitability of the operation. The project area, while still rich in resources and containing over 20 mineral claims, has been overlooked until now.

The updated resource estimate for the Tartan Lake deposit released in 2017 stated an Indicated resource of 1,180,000 tonnes containing 240,000 ounces gold at 6.32 g/t and an Inferred resource of 240,000 tonnes containing 37,000 ounces gold at 4.89 g/t. making this an promising project.

Tartan Lake Property

The project has an existing 450 mt/day processing plant along with a decline that provides access to developed mining blocks. Satori Resources can leverage the existing infrastructure to achieve quicker production timelines. The project already contains a 450 TPD mill complex (refurbishment required), a 2,100-meter ramp, and a vent raised from the surface down to level 260. Additionally, the project area has intact and operational hydropower, full road access and an exploration database.

Satori Resources
Satori Resources Key Project

Satori Resources' dual-track strategy includes resource expansion and mine development evaluation. Satori Resources has expanded the main zone by 200 meters, a significant step in the company's roadmap. CEO Jennifer Boyle shared, "The Phase 1 results clearly demonstrate that the Main Zone continues to depth and offers an immediate opportunity to increase the mineral resources at Tartan Lake with additional drilling."

Satori Resources Exploration

Much of the project's area has remained unexplored or underexplored, providing investor upside on its discovery potential.

Management Team

Peter Shippen - Chairman

Peter Shippen is an entrepreneur, investor and capital markets professional with 20 years of experience. Peter Shippen is the Chief Executive Officer of Britannia Life Sciences Inc., an international product development platform integrating services to companies launching products in the cosmetics, food and wellness industries. Peter was formerly senior executive at Purpose Investments, following Purpose's acquisitions of Redwood Asset Management. Peter was President and CEO of Redwood until its amalgamation with Purpose in March 2018. Prior to founding Ark Fund Management in 2007, Peter worked in investment research roles at BMO Nesbitt Burns and TD Waterhouse Canada Inc.

Peter Shippen holds a CFA designation, a CAIA designation and earned BA, Economics from Wilfrid Laurier University.

Jennifer Boyle - President and CEO

Jennifer Boyle is a Director and Founder, and former Executive Chair of Satori. Jennifer sat as a member of the board of directors of Carlisle Goldfields Limited (TSX:CGJ) before it was acquired by Alamos Gold Inc. in January 2016, and she sat as a member of the board of directors of Nevada Exploration Inc. (TSXV:NGE) (2010 to 2015). Boyle is a former securities lawyer who has been, for the past 22 years, working at founding or re-organizing early-stage junior resource issuers, and developing various growth strategies for various clients. Formerly, Boyle was Chief Executive Officer of St. Eugene Mining before the company was bought by Claude Resources Inc. and she was a founding director and Executive Vice President of Canadian Royalties Inc. (1997 to 2006); co-founder and Executive Vice President of Golden Valley Mines Ltd. (2002 to 2005); and co-founder and Chief Executive Officer of Takara Resources Inc. (2006 to 2013). She currently sits as a member of the national and the Toronto local advisory committee for the TSX Venture Exchange, and is General Counsel at an Institutional Forex and IIROC dealer.

Doug Flegg - Director

Doug Flegg is a former Managing Director of Global Mining Sales for BMO Capital Markets, having over 30 years of mining and mining finance experience, supported by a technical background in Geology, augmented with over 20 years of mining-related capital markets experience in portfolio management and global equity sales. Doug started his career as an exploration geologist in Canada, and has more recently transitioned into a mining advisory and strategic consulting role, having built strong expertise and a solid network in the mining industry.

Wes Hanson – Lead Technical Director

Wes Hanson worked at the Tartan Lake Gold Mine as Chief Geologist during the time that it produced gold in the late 80's. Subsequently, when the Tartan Lake Gold Mine was owned by Satori's predecessor company (St. Eugene Mining Corporation, prior to its acquisition by the then Claude Resources Inc.), Wes was involved with Tartan (2010-2012) as a board member of St. Eugene Mining. Wes Hanson re-joined the Tartan Lake team in 2020 as lead technical director, this being his third time working on the project

Wes Hanson is the Chief Executive Officer of Xplore Resources Inc., a junior exploration company listed on the TSX Venture Exchange. He has been directly involved in the engineering, construction, and commissioning of numerous mining projects locally and internationally, having worked on large capital projects as a consulting geologist with Kilborn - SNC Lavalin, and before transitioning into senior management roles with Kinross Gold, Western Goldfields and Silver Bear Resources. Wes served as President and CEO of Noront Resources from 2009 through 2012 and since then he has provided contract geological services for various junior companies listed on the TSX Venture Exchange, including Unigold Inc. as Chief Operating Officer.

Jeff Kilborn – Director

Mr. Kilborn currently holds the position of Chief Financial Officer at a private technology company, and previously held the position of Business Advisor, High Impact Firms, BDC Advisory Services, and also Chief Financial Officer of Satori Resources during the period 2011 through to 2016. Jeff has over nineteen years of finance experience, having held progressively senior positions at Canadian subsidiaries of two U.S.-based investment banks as well as well as a mid-market Canadian private equity firm. Mr. Kilborn has broad financial experience, including debt and equity capital raising and mergers and acquisitions advisory.
Satori Closes Private Placement Financing

Satori Closes Private Placement Financing

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that it has closed its private placement offering for gross proceeds totaling $2,144,050. The Company issued 7,154,737 flow through common shares at a price of $0.19, and 5,231,000 common shares at a price of $0.15 per share.

The proceeds from the issuance of flow through common shares shall be used for exploration activities that qualify as Canadian Exploration Expenses under the Income Tax Act (Canada), and proceeds from the issuance of common shares shall be used for working capital.

Keep reading... Show less
Satori Reports Highlight Summary of the 2021 Drilling Campaign, and Announces Private Placement Financing of up to $3,000,000

Satori Reports Highlight Summary of the 2021 Drilling Campaign, and Announces Private Placement Financing of up to $3,000,000

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce the completion of its spring summer 2021 Phase One drilling campaign, where eleven (11) of thirteen (13) drill holes intersected anomalous gold mineralization from the 100% held Tartan Lake Gold Mine Project in Flin Flon, Manitoba. One hole (TLMZ21-03) failed due to mechanical issues, and one hole (TLSZ21-10) tested the eastern edge of the South Zone, returning insignificant gold grades. Twelve drill holes and one wedge hole totalled 7295 metres, having an estimated all-in cost of approximately C$ 275.00 per metre.

The Phase One program successfully expanded the resource footprint at both the Main and South Zones approximately 200 meters down plunge, and uncovered an interpreted new zone of mineralization sub-parallel to the Main Zone. Other highlights include:

Keep reading... Show less
Satori Identifies New Zone at Tartan Lake with the Second Highest Grade Drill Hole in Tartan Lake History Intersecting 5.80 metres Averaging 47.56 g/t Gold

Satori Identifies New Zone at Tartan Lake with the Second Highest Grade Drill Hole in Tartan Lake History Intersecting 5.80 metres Averaging 47.56 g/t Gold

  • TLMZ21-12 intersected 5.80 metres averaging 47.56 g/t Au within a broader interval of 12.60 metres averaging 23.76 g/t Au
  • Intersection is interpreted to be a new zone of mineralization, sub-parallel to the Main Zone
  • TLMZ21-12 includes the second highest grade interval ever reported at Tartan Lake

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce additional results from the completed Phase One drill program at the 100% owned Tartan Lake property, Flin Flon, Manitoba.

TLMZ21-11 and TLMZ21-12 both targeted the down plunge continuation of the Main Zone mineralization, approximately 100 metres to the west of TLMZ21-01 (4.15 metres averaging 9.73 g/t Au) and 75 and 150 metres below the historic holes defining the resource limits.

Keep reading... Show less
Satori Resources Engages Market-Maker

Satori Resources Engages Market-Maker

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company"), is pleased to announce that it has entered into a liquidity services agreement with Red Cloud Securities Inc. ("Red Cloud") whereby Red Cloud shall, subject to regulatory approval, provide market-making services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("Exchange"). Red Cloud will manage trading of the Company's shares from time to time for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company's shares. Satori shall pay Red Cloud a committed fee of $5,000 per month for the services during the first two months, and thereafter, the agreement may be terminated by either party by providing 30 days prior written notice. There are no additional performance factors, shares, or options offered as compensation. Red Cloud is arm's length and independent from the Company.

Red Cloud is a private and independent investment dealer and member of the Investment Industry Regulatory Organization of Canada based in Toronto, Ontario.

Keep reading... Show less
satori security

Satori Drills 8.03 g/t Au over 4.0 Metres at Tartan Lake South Zone

Recent Drilling Increases Limits of High Grade Zone at Depth

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to report results from three holes, TLSZ21-07, 08, and 09; all of which targeted an interpreted west plunge at the South Zone, at the100% owned Tartan Lake Project, Flin Flon, Manitoba.

Keep reading... Show less
roll of US bills

Top Stories This Week: Gold Drops After FOMC Meeting, How Low Can it Go?

Gold took a tumble this week, although it started the period strong.

The yellow metal traded between about US$1,835 and US$1,850 per ounce from Monday (January 24) to Wednesday (January 26), but dropped mid-week. It was just over US$1,785 by Friday (January 28) afternoon.

So what happened to gold? The major event this week was the year's first Federal Open Market Committee (FOMC) meeting, which took place from Tuesday (January 25) to Wednesday.

Keep reading... Show less
Endurance Invited And Exhibiting at AME Roundup Core Shack Featuring High-Grade Drill Intersections From The Reliance Gold Project BC

Endurance Invited And Exhibiting at AME Roundup Core Shack Featuring High-Grade Drill Intersections From The Reliance Gold Project BC

Endurance Gold Corporation (TSXV: EDG) (the "Company") is pleased to announce that the Company will be exhibiting, in-person and by special invitation, at the 2022 AME Roundup Conference Core Shack located at the Vancouver Convention Centre West on Monday, January 31 and Tuesday, February 1.

Display Drill Core will include representative core from the four best holes drilled by the Company at the Reliance Gold Property (the "Property") in 2021 from drill holes spread along a 750 m trend which returned 15.7 gpt gold over 24.8 m including 26.96 gpt gold over 4.1 m, 8.47 gpt gold over 24.9 m including 16.27 gpt gold over 10.5 m, 8.62 gpt gold over 24.4 m including 17.02 gpt gold over 4.3 m, and the most recent drill announced last week of 1.70 gpt gold over 62.1 m.

Keep reading... Show less
Metals Creek Resources CEO Alexander Stares

Metals Creek Resources CEO Alexander Stares: Advancing Two Top-notch Properties in Ontario

Metals Creek Resources (TSXV:MEK) provided an update on its Dona Lake and Ogden gold projects in Ontario.

Metals Creek Resources CEO Alexander Stares shared, “We've been hitting some really nice stuff at Ogden. We just finished SGH soil sampling and we're in the process of doing deep-section IP. We're going to put all this data together, and we should be able to generate some really good drill targets. In about three weeks, we'll be back in Timmins drilling again. In my opinion, these are two top-notch properties. What more could an investor ask for?”

Keep reading... Show less

Franco-Nevada Declares Dividend Increase and Provides Details for Upcoming Release of 2021 Results

Franco-Nevada Corporation is pleased to announce that its Board of Directors has raised its quarterly dividend and declared a quarterly dividend of US$0.32 per share payable on March 31, 2022 to shareholders of record on March 17, 2022 (the "Record Date"). This is a 6.7% increase from the previous US$0.30 per share quarterly dividend and marks the 15 th consecutive annual increase for Franco-Nevada shareholders. Canadian investors in Franco-Nevada's IPO in December 2007 are now receiving an effective 10.7% yield on their cost base. The Board of Directors has determined to move its annual dividend reviews earlier in the year than prior practice starting with 2022. The dividend policy will now be reviewed at the beginning of the fiscal year so that any increases to the dividend will be effective for the full fiscal year rather than commencing in Q2 as in prior years. The dividend has been declared in U.S. dollars and the Canadian dollar equivalent will be determined based on the daily average rate posted by the Bank of Canada on the Record Date. Under Canadian tax legislation, Canadian resident individuals who receive "eligible dividends" are entitled to an enhanced gross-up and dividend tax credit on such dividends.

The Company has a Dividend Reinvestment Plan (the "DRIP"). Participation in the DRIP is optional. The Company will issue additional common shares through treasury at a 3% discount to the Average Market Price, as defined in the DRIP. However, the Company may, from time to time, in its discretion, change or eliminate the discount applicable to treasury acquisitions or direct that such common shares be purchased in market acquisitions at the prevailing market price, any of which would be publicly announced. The DRIP and enrollment forms are available on the Company's website at www.franco-nevada.com . Canadian and U.S. registered shareholders may also enroll in the DRIP online through the plan agent's self-service web portal at www.investorcentre.com/franco-nevada . Canadian and U.S. beneficial shareholders should contact their financial intermediary to arrange enrollment. Non-Canadian and non-U.S. shareholders may potentially participate in the DRIP, subject to the satisfaction of certain conditions. Non-Canadian and non-U.S. shareholders should contact the Company to determine whether they satisfy the necessary conditions to participate in the DRIP.

Keep reading... Show less
Quadro Resources

Quadro Announces Remaining 2021 Assay Results from Staghorn, Central Newfoundland Gold District

Quadro Resources Ltd. (TSXV: QRO) (OTCQB: QDROF) (FSE: G4O2) ("Quadro" or the "Company") is pleased to announce the remaining assay results from its 2021 Staghorn gold project, Newfoundland. Further to its November 18, 2021, news release, in which the Company announced the discovery of a new gold zone intersected from the inaugural exploration drill program at its Long Lake property, in Central Newfoundland, Quadro's assays results from four drill holes at Staghorn remained overdue due to assay lab-related delays. After completing the Long Lake drilling, the drill was mobilized to Quadro's Staghorn property where an additional 891 meters were completed in four holes at the southwest end of the Marks Pond zone.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/5339/111824_4ef3ac86740229f4_002.jpg

Keep reading... Show less
Metals Creek Drills 9.2 g/t Gold over 4.47 meters at the Ogden Gold Project

Metals Creek Drills 9.2 g/t Gold over 4.47 meters at the Ogden Gold Project

Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce results for six holes recently drilled on the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 5050 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.

The Thomas Ogden Zone (TOG) was the main focus of the drill program, totalling 2,076 meters. By means of oriented core, the program's emphasis was to further define the orientation of high-grade cross cutting veins and mineralization, as well as determining true orientations of contacts, fold structures and faults within a very complex sequence of stratigraphy. Three of the six holes drilled had visible gold.

Keep reading... Show less

Latest Press Releases

Related News

×