Toronto, Ontario. – December 8, 2020 – Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) is a Toronto-based mineral exploration Company that has employed a new and seasoned technical team to compile all available historic geological and geophysical data at the past producing Tartan Lake Gold Mine Project located in Flin Flon, Manitoba, for the purpose of planning resource expansion, drilling, and evaluation of mine recommissioning. Given the compelling information summarized in the Company’s news release dated December 2, 2020, a budget is being prepared to conduct a drill program to test, among others, the down plunge extension of the Main Zone as a high priority target area beyond the open “fence holes” situated 600 metres below the surface (approximately -300 metre level).
While the focus of the Company is on the Tartan Lake Gold Mine Project, the New Delhi project announced on October 26, 2020 provides the Company with an additional, second, under-explored mineralized project. The New Delhi project is a high-grade brownfield project located in the Sudbury Mining District, Ontario, and the Company is pleased to announce that it has received all required approvals to complete the transaction and earn a 100% interest. Satori has confirmed the presence of high grade gold and silver mineralization at New Delhi in eight rock samples randomly taken from the surface expression of the host mineralized zone during a due diligence site visit earlier this year, specifically, gold as high as 64.8 g/t gold, 1081 g/t silver, 4.03% copper and 85.5% lead.
Prior operators on the New Dehli Project (in the 1950s) did enough work to develop 66.05 metres (217 feet) of adits along the Lahey Vein, and completed a 9.84 tonne (21,692 pound) surface bulk sample, which was taken from the same vein. The total length of the bulk sample is 24.3 m (80 ft).
The Company’s initial plan on the New Delhi project will be to carry out verification activities on recorded mineralized zones, but secondly, to follow up on two anomalies identified on a magnetic survey outside of the mineralized zones.
Jennifer Boyle, Chief Executive Officer, states “We are fortunate to have another advanced and under-explored project that shows evidence of historic high-grade mineralization. We intend to use this to our advantage by also applying modern exploration techniques to mineralized zones that have had virtually no follow up.”
Wes Hanson, P.Geo., is the qualified person responsible for the technical data in this news release, and notes that there was no QA/QC conducted in obtaining the random analytic samples at New Delhi, and further, Satori does not warrant that the results from the verification sampling are representative of future results.
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, and the recently acquired New Delhi Project, a mineralized advanced 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 meter decline and developed underground mining galleries to a depth of 300 meters from surface. Gold mineralization is associated with anastomosing quartz-carbonate veins hosted in east-west striking, steeply dipping shear zones up to 30 meters in width. The veins vary from several centimeters to several meters 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. Peter Shippen
Chair, Satori Resources Inc.
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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.
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