- Satori Resources (BUD) reports a diamond drilling program is now underway at the company's Tartan Lake Gold Mine Project
- The 100-per-cent wholly-owned project is located in Flin Flon, Manitoba
- The drill program is slated for a total of three thousand metres
- Drilling will test an area that was originally developed in the 1980s
- Satori is unchanged on the day, with shares of the company trading at C$0.14 at 11:28 am ET
Satori Resources (BUD) reports a diamond drilling program is now underway at the company's Tartan Lake Gold Mine Project.
The 100-per-cent wholly-owned project is located in Flin Flon, Manitoba.
The drill program is slated for a total of 3000 metres, testing the down-plunge extension of the Main Zone.
The Main Zone was developed and mined from surface to the 300-metre level in the mid 1980s prior to mining being suspended due to a declining gold price.
The current drill program is designed to expand the Main Zone mineralization at depth, in advance of an updated mineral resource estimate.
The company also believes the Tartan Lake property offers "excellent discovery potential from a number of nearby surface targets identified from past prospecting, most of which have seen limited drilling."
The last significant regional-scale exploration was conducted in the mid to late 1980s, and Satori believes that modern geophysics will generate additional targets within the claim package.
"Our initial drilling will focus on the near term resource expansion potential offered by the down plunge continuation of the high grade Main Zone target. Once we have evaluated the Main Zone target, we plan to shift our focus to the adjacent South Zone mineralization, less than 100 meters away from the historical ramp development.
Depressed gold prices (below USD$375) and mechanical issues (processing) led to the early closure at Tartan Lake (1989), leaving significant infrastructure in place. With demonstrated potential to host high-grade mineralization, a favourable jurisdiction, road accessible exploration and a seasoned technical team, Satori is poised to reinvigorate the Tartan Lake property and generate stakeholder value," said Satori CEO Jennifer Boyle.
The drilling is expected to continue through to the end of May, 2021.
Satori is unchanged on the day, with shares of the company trading at C$0.14 at 11:28 am ET.