Satori Resources Inc.
TSX VENTURE : BUD

Satori Resources Inc.

December 07, 2016 06:00 ET

Satori Intersects 10.88 g/t Gold Over 13.1 metres, and 9.99 g/t Au Over 11.2 metres Outside the Known Mineral Resource Boundary

TORONTO, ONTARIO--(Marketwired - Dec. 7, 2016) - Satori Resources Inc. (TSX VENTURE:BUD) ("Satori" or the "Company") is pleased to announce that diamond drilling has intersected two broad zones of high-grade gold mineralization near existing underground development and historical stopes at the Tartan Lake Gold Mine Project ("Tartan Lake Project" or "Tartan Lake") in Flin Flon, Manitoba, Canada.

Highlight assay results include:

  • TL16-01 (Main Zone): 10.88 grams per tonne of gold ("g/t Au") over 13.1 metres and 9.99 g/t Au over 11.2 metres
  • TL16-04 (South Zone): 10.28 g/t Au over 5.1 metres
  • TL16-06 (Main Zone): 3.56 g/t Au over 8.2 metres

Will Ansley, President and CEO of Satori, commented: "These drill results demonstrate both the high-grade nature of the deposit as well as the exploration potential of Tartan Lake. The two zones intersected in hole TL16-01 appear wider than the original stopes mined between 1987-1989, and are located approximately 20 metres below existing underground development. Having high-grade intercepts and widths within close proximity to existing underground infrastructure is a key strategic advantage for Satori."

  • Drillhole TL16-01 (Figure 3), located on section 2030E in the Main Zone, was drilled to verify and possibly expand the existing resource model. TL16-01 successfully intersected 10.88 g/t Au over 13.1 metres (within the existing resource model) and a second zone of 9.99 g/t Au over 11.2 metres (below and outside the existing resource model). TL16-01 was located within approximately 20 metres of existing underground development and approximately 30 metres east of hole NAP114 which intersected 20.93 g/t Au over 8.2 metres.
  • Drillhole TL16-04 (Figure 4), located on section 2300E in the South Zone, successfully intersected 10.28 g/t Au over 5.1 metres within the current mineral resource model. TL16-04 was located approximately 20 metres down and east of hole NAP283 which intersected 7.94 g/t over 3.0 metres and 8.19 g/t Au over 5.0 metres as well as approximately 10 metres west (at the same elevation) of NAP292 which intersected 9.10 g/t Au over 8.5 metres.
  • Drillhole TL16-06 (Figure 5), located on section 2115E in the Main Zone, was drilled to verify and possibly expand the existing resource model. TL16-06 successfully intersected a zone of 3.56 g/t Au over 8.2 metres (above and outside the existing resource model).

The 2016 exploration program at Tartan Lake commenced in late October and consisted of 6 diamond drill holes totaling 1,600 metres. The limited program was designed to verify the historic drill results, and test the extension of known gold mineralization. Two of the holes intersected underground workings and were stopped short of the targeted zones. The drill remains on-site and will be remobilized in 2017.

Please see Tables 1 and 2 at the end of the news release for assay results and locations for the drilling program. Figures 1 and 2 displays the location of the Tartan Lake Project and the plan view of the drilling program, respectively. Figures 3, 4 and 5 show the underground sections of the drilling program.

Technical Information

The Satori surface exploration drilling was conducted by BlackHawk Drilling of Smithers, British Columbia, and carried out under the supervision of Peter Karelse P.Geo., registered in the Province of Ontario, a Geological Consultant, who is a qualified person as defined by NI 43-101. Mr. Karelse has more than 30 years of experience in gold exploration and development. All technical information in this press release has been reviewed and approved by Mr. Karelse.

Samples were transported directly in secure containers from the Satori site in Flin Flon Manitoba, to the TSL Laboratories in Saskatoon, Saskatchewan. TSL, which is an accredited ISO/IEC 17025 lab assayed the samples using standard fire assay methods with a gravimetric finish. Certified standards are placed in the sample stream at a rate of one standard per 20 samples. Certified blanks are placed in the sample stream at a rate of one blank every 40 samples.

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 mining district, in Manitoba, Canada. The Tartan Lake Gold Mine had historical high-grade production of 48,000 ounces of gold between 1987-1989. The Project hosts a largely intact 450 tonne per day gold concentrator and related infrastructure, along with a decline ramp providing access to developed gold mineralization within the Main and South Zones to a vertical depth of 320 metres.

For further information, please visit www.satoriresources.ca.

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept 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.

Table 1. Indicates selected results from the first four drill holes (uncut), with assays pending on two holes

Drill Hole From Interval Gold
Assay
g/t
x m
Vertical
Depth
Interpreted
Zone
Metre Metre Metres(1) g/t Au(2) Metres(3)
TL16-01 349.7 362.8 13.1 10.88 142.7 322 Main Zone
incl. 349.7 351.2 1.5 10.12 15.1 317 Main Zone
incl. 353.7 358.7 5.0 24.05 120.2 322 Main Zone
377.1 388.3 11.2 9.99 111.9 344 Main Zone
TL16-02 299.0 300.0 1.00 7.06 6.7 266 Main Zone
* Hole stopped short of zone, intersected underground workings
TL16-03 193.0 194.2 1.2 3.80 4.6 161 Main Zone
* Hole stopped short of zone, intersected underground workings
TL16-04 122.3 127.3 5.1 10.28 51.9 104 South Zone
Incl.125.3 127.3 2.0 24.42 48.9 106 South Zone
136.4 141.5 5.1 4.90 25.0 118 South Zone
166.0 167.0 1.0 4.87 4.9 143 South Zone
TL16-05 18.3 19.4 1.1 5.56 6.2 20 South Zone
170.3 173.3 3.0 4.57 13.7 143 South Zone
184.6 185.8 1.2 4.18 5.0 155 South Zone
TL16-06 120.5 128.7 8.2 3.56 29.2 102 Main Zone
Incl. 120.5 121.4 0.9 16.05 14.6 110 Main Zone

Table 2. Collar and drill hole locations

HOLE-ID LOCATION
X
LOCATION
Y
LOCATION
Z
LENGTH UTMX UTMY AZIMUTH DIP
TL16-01 2026.76 5101.03 2010.50 411.48 324447.9 6082275.2 178 -71.91
TL16-02 2037.74 5093.99 2007.30 304.80 324460.6 6082272.4 180 -67.31
TL16-03 2145.00 5051.84 2016.40 298.70 324575.4 6082270.0 180 -65
TL16-04 2301.02 4756.71 2016.5 181.00 324823.2 6082048.0 361 -71.6
TL16-05 2330.52 4730.91 2015 198.12 324859.5 6082034.0 359 -64.4
TL16-06 2120.22 4994.23 2011.60 173.73 324572.1 6082207.6 180.5 -65
(1) Intervals are presented in core length; true width unknown at this time
(2) For known mineralized zones, intervals are based on geological observations and limited compositing of veins. Assays presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time
(3) Vertical depth is measured from the surface to the mid-point of the reported interval

To view Figures 1, 2, 3, 4, and 5, please visit the following link: http://media3.marketwire.com/docs/Satori_Figures_1-5.pdf

Contact Information