Toronto, Ontario — February 26, 2021 – Satori Resources Inc. (TSXV: BUD) (“Satori” or the “Company”) is pleased to announce that it has received the permits required to commence drilling at the Company’s wholly-owned Tartan Lake Gold Mine Project near Flin Flon, Manitoba. Preparatory work on the access road has commenced, drilling tenders are out for quote, and technical staff is being engaged to supervise a 3,200 metre diamond drill program targeting the down plunge continuation of the Main Zone vein system.
Satori plans to apply a modern, systematic approach to exploration at the Tartan Lake Gold Mine Project. In 2020, the Company collected and reviewed the geophysical data from the 1980s in order to isolate geophysical signatures coincident with known mineralization. Processing of the historic data with contemporary techniques has generated new drilling targets which show potential for additional high-grade mineralization across numerous shear zones that transect the property. Therefore, 500 metres of diamond drilling is also planned to test targets within 1,000 metres of the historic mine site.
It has been approximately 23 years since the past producing Tartan Lake Gold Mine Project has seen a significant drill program. Over 50 linear kilometres of shear zones have been mapped throughout the claim package, but the majority of historical exploration focused on 3-5 kilometres of shear zones in the immediate area of the former producing Tartan Lake mine.
The Company believes that in addition to the potential to increase the mineral resource proximal to the former producing mine, there are excellent opportunities for additional discoveries given the unexplored extent of the shear zones that host the known mineralization.
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 the past producing Tartan Lake Gold Mine Project, located in the prolific Flin Flon Greenstone Belt, Manitoba. Recently, Satori acquired the New Delhi Project, an advanced polymetallic gold 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 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. 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.
(416) 904-2714
jennifer@capexgroupinc.com
Mr. Pete Shippen
Chair, Satori Resources Inc.
pjs@extramedium.ca
416-930-7711
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.
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.