Toronto, Ontario – March 25, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) is pleased to announce that a drilling campaign and preliminary work to complete an IP survey are underway at the Tartan Lake project, Flin Flon, Manitoba.
The first 2,000 metres of a 5,000 metre drilling campaign has commenced at the McFadden Zone, a 30 metre by 40 metre stripped shear zone outcrop located 1 kilometre south-east of the known Main Zone deposit. Drilling at McFadden will precede the 3,000+ metre drill program planned to further test the Main Zone, the South Zone, and the interpreted new Hanging Wall Zone, which returned the second highest value intercept ever recorded at Tartan Lake at hole TLMZ21-12, intersecting 47.56 g/t Au averaged 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).
The Company plans to drill the Hanging Wall Zone and the Main Zone at greater depths with a drill rig that has deep-drilling capacity. The drilling equipment currently on site has depth capacity for South Zone and McFadden Zone, and allows Satori to access McFadden at this time by winter road.
Jennifer Boyle, Chief Executive Officer, states “The McFadden Zone has been on our radar for quite some time. Drilling at McFadden provides Satori with the opportunity to make a potential new discovery outside of the known Main Zone and South Zone deposits. We are following up on a historical stripped area with surface expressions of extensive quartz-carbonate-tourmaline veining within a significant shear zone, similar to what we are seeing at Main Zone and South Zone. Our recently constructed snow-packed trail system to McFadden has provided more efficient access to four (4) drill pad set-ups, which may have otherwise been more difficult during summer months without helicopter support.”
Figure 1: McFadden Zone Geology
The Company further announces that it has completed the first phase of a two-phase 45 line kilometre Induced Polarization survey. The survey shows several narrow resistive zones and corresponding IP chargeability anomalies that could represent quartz veins within a sulphide enriched shear expression at McFadden.
The survey has also produced several anomalies elsewhere and has generated preliminary targets for drill testing. The grid covers the Main Zone, the South Zone, as well as nearby targets of Ruby Lake, McFadden and N229.
Figure 2: Satellite Image Tartan Lake Gold Mine Project
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 ShippenChair, 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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