TORONTO, ONTARIO--(Marketwire - March 13, 2012) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Satori Resources Inc. (TSX VENTURE:BUD) ("Satori" or the "Company") announces that an independent report of preliminary results from a sampling program undertaken at the Tartan Lake Gold Mine tailings pond is expected shortly. The report will be instrumental in determining the next phase to confirm the total inferred volume and grade of tailings, most of which is believed to be above the waterline. Additionally, an initial 79.9 ounces of gold and 4.61 ounces of silver have been recovered from 2.46 tons of material collected from inside the Tartan Lake mill as part of an ongoing project clean-up program.
"Satori is in the process of assembling a team of technical experts for the purpose of re-processing ore in the tailings this year at the Tartan Lake Gold Mine, Flin Flon, Manitoba" comments Jennifer Boyle, President and Chief Executive Officer. "One member of the historic team advised that during the original commissioning of the mine (1986), while adjustments to crushing, milling, and metallurgical recovery were being made, it is believed that much of the initial output of ore from underground went straight to the tailings. Satori is therefore assessing whether potential revenue can be generated from gold sales from the re-processing of the tailings, sufficient enough to off-set full or partial costs of re-commissioning the mine".
The Tartan Lake Gold Mine Project's independent NI 43-101 resource estimate (completed by MineTech International Ltd. and released in November 8, 2010 and amended on January 18, 2012) resulted in an indicated mineral resource of 1,000,000 tonnes at 4.0g/t Au (130,000 ounces) and an additional inferred mineral resource of 1,900,000 tonnes at 3.9g/t Au (240,000 ounces).
A location map of the Tartan Lake and a detailed plan map and photos of the tailings pond can be viewed at Satori's website www.satoriresources.ca.
Tania Ilieva, P. Geo., is the Qualified Person who has reviewed and approved the technical contents of this news release for and on behalf of Satori.
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 Greenstone Belt, Manitoba.
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. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding Satori's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which Satori has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Satori's expectations. Satori undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.
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