VANCOUVER, BRITISH COLUMBIA, Nov. 23, 2009 (Marketwire) -- Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn") & Swift Resources Inc. (TSX VENTURE:SWR) ("Swift") (the "Companies"), have received the NI 43-101 report (the "Report") from Palatine Geological Ltd. on the Companies' jointly-held Saskatoba Coal Project near Hudson Bay, Saskatchewan. The purpose of the Report was to identify and target potential coal hosting sub-basins on the Companies' jointly held properties.
The Report includes the recommendation of a 24 drill-hole program to test geophysical targets considered to be highly prospective for 'Goldsource-style' coal deposits located on the Companies' properties in Saskatchewan. Based on this recommendation, the Companies have retained North Rim Exploration Ltd. of Saskatoon SK to provide permitting, logistical and related services for the Saskatoba Project, and have also contracted Kluane Drilling Ltd. of Whitehorse, Yukon to provide drilling services for the project. The diamond drill is being mobilized to Hudson Bay, SK.
The NI 43-101 Report incorporated all geophysical data obtained by the Companies to date and existing public information regarding coal discoveries made by Goldsource Mines Inc. and Westcore Energy Inc.
Important conclusions from the Report include the specific nature of "Goldsource-style" coal deposits in the Hudson Bay region with respect to coal seams thickness, geometry, and the related implication on an effective exploration model. The Report presents a model for accumulation and preservation of anomalously thick deposits of peat in large, karst-controlled depressions (sub-basins) developed on topographically subdued onshore lowlands, and stresses the importance of explicit geophysical signatures of potential coal hosting sub-basins.
The Report concludes that, "the data presently available indicate that the Saturn/Swift properties are located in areas with near-identical stratigraphy and geological history to that encountered at the Goldsource Border discovery". This report also identifies the potential for an abundance of moderately sized, thick coal deposits along the ancient Cretaceous shoreline, including in the area presently covered by the Saturn/Swift properties.
With respect to geophysical targets on the Companies' properties, the Report states, "Exploration of the various components of the Property has returned anomalies in transient electromagnetic field (GeoTEM) consistent with those obtained over known bodies of coal at the Border deposit. A ground gravity survey carried out on two of the component blocks identified gravity anomalies consistent with the presence of coal and coincident with some of the anomalous results returned from the GeoTEM survey." These targets will be the focus of the Companies' first phase of drilling.
Dr. Krzysztof Mastalerz, Ph.D., P.Geo., a Qualified Person under 43-101 standards, has reviewed and approved the technical contents of this news release.
SATURN MINERALS INC.
SWIFT RESOURCES INC.
Mike Elson, President
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