- Multiple, untested targets identified for field verification;
- Design of follow up ground geophysical surveys in progress;
- Drilling contractor selected and mobilization to site expected to commence by April 7, 2021;
- Initial drilling targeting down plunge continuation of Main Zone to commence by April 15, 2021;
- Review and target selection of near surface extensions of the South Zone being prioritized; and
- Analysis of McFadden, N229 and Baseline anomalies continues.
Toronto, Ontario — March 30, 2021 – Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) is pleased to announce that the review and advanced processing of historical geophysical data is complete, and a number of prospective geophysical targets have been identified for follow up and field verification during this upcoming field season. The Company currently anticipates drilling at the prioritized Main Zone depth extension, which is expected to commence by April 15, 2021. The drilling contractor is preparing to mobilize as soon as the spring thaw is complete, in order to minimize damage to the main access road. Unseasonably warm temperatures in northern Manitoba prevented earlier mobilization to site.
Wes Hanson, P.Geo. and Director states, “We are excited to resume active exploration at Tartan Lake, focusing on the future rather than confirming the past. Our drill program will test new target areas within the claim group that have seen limited, if any, historical work. The down plunge continuation of the Main Zone, a compelling exploration target, is the focal point of our early drill program. Our review of the historical data from the nearby South Zone has isolated near surface gaps in the historical drill coverage which we hope to target after completing the planned Main Zone drilling. We expect that mobilization to the property will commence within days, provided weather conditions cooperate. We have completed our review of the regional geophysical and geological data and I am pleased to note that the review has demonstrated great discovery potential in an established world class mining camp. We plan to aggressively evaluate and prioritize the identified geophysical targets with initial geological sampling and mapping during the upcoming summer field season.”
VTEM and Magnetic Targets
Jeremy S. Brett, M.Sc., P.Geo. (Jeremy S. Brett International Consulting Ltd.), has completed a thorough review of the historical geophysical data (See release August 31, 2020), and the subsequent advanced processing and recent analysis has identified over 7 high priority targets from historical Geotech VTEM time domain electromagnetic survey data. These targets are coincident VTEM conductor and magnetic disruptions that are located along strike to the east of the Main and South Zone gold deposits that were the focal point of historical mining.
The characteristics of these anomalies show disruptions of the magnetic response along VTEM conductors, as well as attenuation and offsets in these conductor axes, which may indicate structurally controlled alteration, replacement of iron minerals, and gold mineralization. See Figure 1.
Mr. Brett’s review of the historical VTEM data, and subsequent advanced processing from Geotech, has also produced several new AIIP Chargeability targets (Airborne Inductively Induced Polarization). These targets are characterized by near surface chargeability highs and may indicate sulphide content associated with alteration and gold / base metal mineralization.
Satori plans to test these high priority targets with ground truthing, mapping, sampling and trenching, and once evaluated, with a comprehensive drill program in 2021. Additionally, historical exploration across the property has identified multiple satellite gold showings with limited or no drill testing, which may also be tested with drilling this year.
The Company further announces the granting of 1,500,000 incentive stock options to officers, directors, and consultants, exercisable at $0.15 per share for a period of five 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 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.
Mr. Pete Shippen
Chair, Satori Resources Inc.
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