Drill Results Provide Satori With Confidence to Evaluate Recommissioning of the Tartan Lake Gold Mine Project, Manitoba
March 02 2012 - 12:57PM
Marketwired Canada
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DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Satori Resources Inc. (TSX VENTURE:BUD) ("Satori" or the "Company") is pleased
to announce that drilling results from its 2011 diamond-drill campaign at the
Tartan Lake Gold Mine Project has extended gold mineralization to the west
(holes 5 and 6), confirmed continuity of gold to the south of the existing
resource (holes 7, 8 and 9) and demonstrated potential for expansion to the east
(holes 10 and 12).
Jennifer Boyle, President and Chief Executive Officer of Satori Resources,
commented, "Re-activating exploration at a historic gold producer that has been
dormant for several years has given Satori the confidence required to jump-start
activities for re-assessing commissioning of the mine, which is intended to be
Satori's focus for 2012."
The Tartan Lake Gold Mine Project's independent NI 43-101 resource estimate
(completed by MineTech International Ltd. and released in November 8, 2010 and
amended on January 18, 2012) resulted in an indicated mineral resource of
1,000,000 tonnes at 4.0g/t Au (130,000 ounces) and an additional inferred
mineral resource of 1,900,000 tonnes at 3.9g/t Au (240,000 ounces).
Highlights from the 2011 drilling program include:
-- 27.57 grams of gold per tonne over 0.69 metres in hole TL-11-03
-- 29.60 grams of gold per tonne over 0.50 metres in hole TL-11-05
-- 19.31 grams of gold per tonne over 1.04 metres in hole TL-11-10
-- 11.18 grams of gold per tonne over 0.70 metres in TL-11-12
A total of 19 holes comprising 4,133 metres were drilled during the 2011
exploration program. Selected results are presented in Table 1 below. The
program tested from surface to in excess of 350 metres depth and was designed to
expand the Main, West and South Zone of the Tartan Lake Deposit as well to
infill within the South portion of the deposit. The drill results for holes one
to five were previously released by St. Eugene Mining Corporation Limited, prior
to the acquisition of St. Eugene by Claude Resources Inc. on February 2, 2012.
Table 1: Selected drill results from 2011 exploration program at
Tartan Lake Gold Mine Project
----------------------------------------------------------------------
Visible Width
Hole ID Azimuth Dip From (m) To (m) (m) Au g/t
----------------------------------------------------------------------
TL-11-01 334 -55 33.00 34.00 1.00 5.86
----------------------------------------------------------------------
88.55 90.70 2.15 3.38
----------------------------------------------------------------------
including 88.55 89.70 1.15 10.80
----------------------------------------------------------------------
92.14 93.48 1.34 1.94
----------------------------------------------------------------------
130.35 133.00 2.65 2.15
----------------------------------------------------------------------
including 130.35 131.00 0.65 3.40
----------------------------------------------------------------------
TL-11-02 350 -50 3.00 3.95 0.95 1.68
----------------------------------------------------------------------
23.47 24.56 1.09 2.87
----------------------------------------------------------------------
TL-11-03 340 -50 29.44 30.34 0.90 1.47
----------------------------------------------------------------------
50.57 51.35 0.78 2.35
----------------------------------------------------------------------
162.00 165.47 3.47 3.16
----------------------------------------------------------------------
including 164.62 165.47 0.85 5.01
----------------------------------------------------------------------
167.32 169.73 2.41 2.47
----------------------------------------------------------------------
including 169.18 169.73 0.55 2.19
----------------------------------------------------------------------
171.75 174.50 1.88 11.82
----------------------------------------------------------------------
including 171.75 172.41 0.66 3.64
----------------------------------------------------------------------
172.41 172.94 0.53 2.45
----------------------------------------------------------------------
172.94 173.63 0.69 27.57
----------------------------------------------------------------------
186.86 187.66 0.80 19.75
----------------------------------------------------------------------
TL-11-04 340 -46.5 55.95 56.60 0.65 18.55
----------------------------------------------------------------------
TL-11-05 340 -50 25.50 27.40 1.90 12.67
----------------------------------------------------------------------
including 25.50 26.00 0.50 29.60
----------------------------------------------------------------------
including 26.00 26.81 0.81 17.32
----------------------------------------------------------------------
TL-11-06 340 -50 0.32 2.18 1.86 3.77
----------------------------------------------------------------------
including 0.32 1.50 1.18 4.05
----------------------------------------------------------------------
TL-11-07 20 -46.5 66.10 67.06 0.96 1.46
----------------------------------------------------------------------
161.17 162.20 1.03 1.18
----------------------------------------------------------------------
TL-11-08 340 -46.5 53.50 54.00 0.50 1.35
----------------------------------------------------------------------
69.77 70.69 0.92 1.31
----------------------------------------------------------------------
74.78 75.29 0.51 1.04
----------------------------------------------------------------------
TL-11-09 340 -50 182.34 183.84 1.50 3.88
----------------------------------------------------------------------
including 183.34 183.84 0.50 8.26
----------------------------------------------------------------------
TL-11-10 165 -50 129.75 131.14 1.39 4.82
----------------------------------------------------------------------
including 129.75 130.48 0.73 5.52
----------------------------------------------------------------------
and 192.00 193.04 1.04 19.31
----------------------------------------------------------------------
TL-11-11 160 -50 293.58 296.86 3.28 2.52
----------------------------------------------------------------------
including 294.50 295.47 0.97 4.39
----------------------------------------------------------------------
and 317.20 319.95 2.75 6.13
----------------------------------------------------------------------
including 319.18 319.95 0.77 8.71
----------------------------------------------------------------------
TL-11-12 160 -75 195.60 196.34 0.74 11.18
----------------------------------------------------------------------
Mineralization intercepted in the Main, West and South Zones of the deposit is
consistent with the historical data. It is associated with the shear zones with
moderate to strong alteration of quartz, carbonates, fuchsite, ankerite,
tourmaline, relatively enriched with pyrite, chalcopyrite, sphalerite,
arsenopyrite, minor pyrrhotite and locally elevated gold values.
Four of the holes (14 to 17) were completed outside of the resource area, at the
Ruby Lake area, in order to evaluate the continuity of the mineralized system to
the west part of the property.
In addition, two other step-out holes (18 and 19) were drilled northeast of the
mine site to test geophysical anomalies. Hole 19 returned 0.6% Cu from the
intersection 35.65 metres to 36.30 metres.
The drill core samples were split on the property, with half sent to TSL
Laboratories Inc., Saskatoon, Saskatchewan, an accredited laboratory. The
samples are fire assayed with an AA and gravimetric finish. Rigorous QAQC
procedure is implemented and check samples, blanks and standards are inserted
into the sample stream. The core lengths are actual lengths as drilled and have
not been adjusted for the true width of the mineralized zones. The sampling and
preparation of the drill core is being conducted under the supervision of Dr.
Tania Ilieva, P. Geo.
A location map of Tartan Lake and a detailed plan map showing current drill
results can be viewed at Satori's website www.satoriresources.ca.
Tania Ilieva, P. Geo., is the Qualified Person who has reviewed and approved the
contents of this news release for and on behalf of Satori.
ABOUT SATORI RESOURCES INC.
Satori is a Toronto-based mineral exploration and development company whose
primary property is the Tartan Lake Gold Mine Project (100% interest), located
in the prolific Flin Flon Greenstone Belt, Manitoba.
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. Forward looking statements are
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events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding
Satori's expectations regarding ownership, entitlements, drilling and
exploration activities on properties in which Satori has, or believes it has an
interest. There can be no assurance that such statements will prove to be
accurate. Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to place undue
reliance on these forward-looking statements. Any factor could cause actual
results to differ materially from Satori's expectations. Satori undertakes no
obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change,
unless otherwise required by law.
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