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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that drilling at the South Zone has now commenced at the Tartan Lake Gold Mine Project, after having completed diamond drilling at a remotesatellite target area (McFadden) located 1 kilometre south-east of the known Main ZoneSouth Zone deposit.
Ongoing drilling at South Zone is testing the down plunge extent of the known mineralization, where three holes are planned to target a potential high-grade chute within the South Zone at depths below Satori's previous drilling, along 150 meters of strike length.
The Company further announces that it has engaged the services of Rayleigh Capital Ltd. to co-ordinate and manage all investor awareness activities. Further, the Company has entered into an advertising and investor awareness campaign with Dig Media Inc.'s Investing News Network ("INN") of Vancouver, British Columbia. INN's function is focussed on advertising and not investor relations or market making services.
Rayleigh shall be engaged for a six month period at a rate of $3,000 per month, and INN has been paid $3,300 per month (six months) plus a flat rate of $12,000 for news dissemination and internet exposure through the INN site.
Jennifer Boyle, Chief Executive Officer, states that "We believe that Satori's recent exploration success at Tartan Lake is not widely understood, and we are aggressively moving to communicate our exploration successes to a broader audience. The historical database at Tartan Lake includes of 500 holes (79,698 meters). In the past 11 months, we have added 12 holes at the Main and South Zones, extending both to depth along an interpreted plunge line that had not been tested historically. Results of our limited drill programs to date include some of the highest grades ever returned at both targets, including TLMZ21-12 in the hanging wall of the Main Zone, which possibly represents a new zone, returning 47.56 g/t Au over 5.8 meters, and TLSZ21-05 (South Zone) which averaged 9.59 g/t Au over 11.75 meters. Our drill programs are designed to demonstrate the potential for expansion at both the Main and South Zone deposits, at depth, and to identify the potential for additional mineralization at satellite targets such as McFadden."
The Company also announces the granting of 525,000 incentive stock options to officers and directors of the Company, exercisable at a price of $0.15 for 5 years.
Wes Hanson P.Geo., Director of Satori, is the qualified person who has reviewed and approved the contents of this press release.
ABOUT Satori Resources Inc. (TSXV: BUD)
Satori is a Toronto-based mineral exploration and development company whose primary property is expanding the resource at the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba.
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 before the mine was shut down due to, in part, the price of gold falling below USD$390. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t Au (see news release February 23, 2017), an 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. Satori believes the mineral resources of the project are currently limited by drill coverage.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121012
