Toronto, Ontario – August 31, 2020 – Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) announces that it has engaged Jeremy S. Brett International Consulting Ltd. to lead and manage an in-depth compilation of several (and diverse) technical data sets, in order to produce a comprehensive geophysical compilation study of the Tartan Lake Gold Mine Project, as part of Satori’s efforts to compile the historical geophysical and geological data of the Project, with the objective of identifying and prioritizing targets for follow up exploration. The compilation will enable Satori to evaluate options for follow up geophysical work and, if warranted, for follow up geological work, including diamond drilling.
Satori has retrieved and digitized the data that had been stored at the mine site during the time that the mine operated, and accordingly, this undertaking will be the first time since 1989 that all of Tartan’s technical data will have been compiled into a comprehensive analysis.
The Tartan Lake Project is a former producing gold mine located in the prolific Flin Flon Snow Lake Greenstone Belt, among the most storied and productive mining camps in the world. The mine operated from 1987 to 1989, producing 36,000 ounces of gold before operations were stopped when the gold price fell below US$ 385 per ounce. The brownfield property includes road access, grid connected power, an existing mill facility and related infrastructure, and an underground decline developed to the 300 meter level. The deposit is interpreted to be a greenstone hosted quartz carbonate vein type deposit, a sub type of lode gold deposits. Lode gold deposits elsewhere in the world are notable for their high grade (typically greater than 8.0 g/t) and lateral extent which often exceeds several thousands of meters. The Tartan Lake deposit is currently drill constrained, meaning the existing mineralization has been limited due to limited historical drill coverage. The steep dipping mineralization remains open at depth and along strike, and historical exploration has identified multiple, satellite gold showings which have seen limited drill testing.
Jennifer Boyle, Chief Executive Officer, states “The Tartan Lake Project is a road accessible property located in a historically prolific mining camp. The amount of historical infrastructure that is in place, including the fully developed mining galleries, makes this a compelling investment opportunity. The list of projects offering the potential for a high grade gold discovery in an established, low risk mining jurisdiction is very limited. The historical resource remains open at depth and along strike, and the satellite deposits peripheral to the main deposit mined from 1987 through 1989 have yet to be fully explored. We see Tartan Lake as an outstanding opportunity to increase the resource through systematic, targeted exploration, and the existing infrastructure and favourable location offer a fast track to future resource development.”
Mr. Brett’s mandate is to compile, interpret, and report on the historical geophysical data in the context of the geological interpretation available for the property and deposit. This will allow Satori to evaluate the potential effectiveness of deploying current geophysical surveying methods to identify and prioritize targets for follow up geological investigation.
The Company plans to evaluate Phase II of this engagement upon receipt of initial results and interpretations.
Wes Hanson, P.Geo. and head of Satori’s Advisory Committee, is the qualified person responsible for the technical data in this news release.
ABOUT SATORI RESOURCES INC.
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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Pete Shippen
Chair, Satori Resources Inc.
Jennifer Boyle, B.A., LL.B.
President and Chief Executive Officer
Satori Resources Inc.
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