Satori Resources Inc. [BUD-TSXV] reported that diamond drilling has intersected two broad zones of high-grade gold mineralization near existing underground development and historical stopes at the 100%-owned Tartan Lake Gold Mine Project 49 km from Flon, Manitoba, Canada.
Highlight assay results include:
- TL16-01 (Main Zone): 10.88 g/t gold over 13.1 metres and 9.99 g/t gold over 11.2 metres
- TL16-04 (South Zone): 10.28 g/t gold over 5.1 metres
- TL16-06 (Main Zone): 3.56 g/t gold over 8.2 metres
Will Ansley, President and CEO, said, “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, 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 gold over 8.2 metres.
Drillhole TL16-04, located on section 2300E in the South Zone, successfully intersected 10.28 g/t gold 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 gold over 3.0 metres and 8.19 g/t gold over 5.0 metres as well as approximately 10 metres west (at the same elevation) of NAP292 which intersected 9.10 g/t gold over 8.5 metres.
Drillhole TL16-06, 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 gold 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.
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.