Satori Awaits Assays from 2022 Phase I Drilling Completed at Tartan Lake Gold Mine Project
Toronto, Ontario--(Newsfile Corp. - May 25, 2022) - Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce the completion of its 2022 Phase I drill program at Tartan Lake. A total of 10 holes (2,900 metres) were completed. Seven holes targeted the McFadden showing, an area of intense quartz-carbonate-tourmaline veining hosted in intensely sheared and deformed volcanics, approximately 1.5 kilometres south of the Main Zone.
The remaining three holes targeted the down-plunge extension of the South Zone approximately 100 meters below hole TLSZ21-05 which intersected 9.59 g/t Au over 11.75 metres, the highest value intercept ever reported at the South Zone (See news release dated October 14, 2021).
Assays for the 2022 Phase I program are expected in June 2022. The Company is currently planning its 2022 Phase II field program, which will: (i) test the extent of the new hanging wall zone identified in hole TLMZ21-12, intersecting 47.56 g/t Au over 5.8 meters, within a wider interval averaging 23.76 g/t Au over 12.6 meters - (See news release dated December 6, 2021); and (ii) conduct a ground reconnaissance program to investigate surficial geology and access to the large chargeability conductor shown in the north-west portion of the recently completed IP data (See Figure 1 below).
Jennifer Boyle, Chief Executive Officer, states that "Our focus has been to increase the mineral resource at Tartan Lake with the objective of outlining the potential to host a million ounces. Our drilling to date has successfully extended both the Main and South Zone to depth, along plunge, reporting grades and interval widths that are among the best intercepts ever reported at Tartan Lake. Our next step is to demonstrate additional mineralization distal to the two known resource areas. Based on the available data, McFadden was the most advanced target, demonstrating similar lithologies to the known gold bearing areas with promising surface results. The winter IP survey identified additional untested drill targets within the claim block that we plan to systematically test as part of our continued exploration effort. The Tartan Lake mine shut down in 1989 when the price of gold fell below USD$400, leaving behind a developed ramp system to the known mineral resource. The project has never been systematically evaluated since the closure of the mine. Tartan Lake is located in the heart of the most significant VMS district in the world, where several, high grade copper- zinc-gold deposits have been discovered and mined."
Figure 1: Induced Polarization Survey Tartan Lake Mine Project - Winter 2022
To view an enhanced version of this graphic, please visit:
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.
Mr. Pete Shippen
Chair, Satori Resources Inc.
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.
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