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Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce that it has received its Exploration Permit for the 100% owned Tartan Lake Project, Flin Flon, Manitoba, which is valid for a three-year period and allows for 155,000 meters of drilling. The Company plans to resume drilling early in this first quarter with a 5,000 metre phase II drill program that will include a series of deep holes testing the extent of the recently announced high grade mineralization in hole TLMZ21-12, which intersected an average 47.56 gt Au over 5.8 meters, within a wider interval averaging 23.76 gt Au over 12.6 meters. This is the second highest value intercept ever recorded at Tartan Lake with over 500 holes completed to date, and was one of the top 5 high grade drill intercepts reported last year according to Streetwise Reports (122821) (Counting Down Top Drill Holes of 2021 (streetwisereports.com). In addition to following up on the high grade intercept, the Company plans continue to expand the South Zone to depth, and to begin drill testing targets along the property's wide shear zone, outside of the current resource areas.
The high-grade mineralization intersected in hole TLMZ21-12 was found in the hanging wall of the Main Zone, and is associated with pyrite rich felsic volcanics, not the massive quartz-carbonate veins that typically denote high grade mineralization at both the Main and South Zones. The interval returned consistent gold grades throughout the entire interval (Ref. Table 1.0). This new mineralization is interpreted to be sub-vertical and is open in all directions. The association of the high grade intercept with a felsic volcanic unit, the absence of quartz-carbonate veining, the increased sulphide content, and the location in the hanging wall of the Main Zone, collectively, indicate that this may be a potential new zone of mineralization. This new zone lies to the west and is deeper than all the historical drilling tracing the Main Zone.
Jennifer Boyle, Satori's President and CEO, states that "We are looking forward to following up on the spectacular high grade results reported in TLMZ21-12. Our phase one drill program at the Main and South Zones delivered on every one of our stated objectives. We demonstrated continuity of the mineralized system at depth, down plunge, and we are thrilled that of the twelve holes drilled, two reported intersections which ranked as the second highest results ever at both the Main and South Zone deposits. We have a strong balance sheet going into 2022 and the phase 2 drilling in Q1 is intended to expand the high-grade Hanging Wall Zone intersected in TLMZ21-12."
Figure 1: Long Section Hanging Wall Zone / Main Zone
To view an enhanced version of Figure 1, please visit:
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Table 1.0 - TLMZ21-12
To view an enhanced version of Table 1.0 - TLMZ21-12, please visit:
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True width is estimated based on the currently available interpretation of the mineralization and drill hole orientation surveys.
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/112993
