Today, Satori Resources $BUD announced a 135% increase in its Indicated resources at its Tartan gold project near Flin Flon, Manitoba. The Tartan Lake gold mine had historical production of 48,000 ounces of gold between 1987 and 1989 at ~ 6g/t, there is over 2100 metres of underground development in place as well as a vent raise to surface. The company has improved confidence in its resources with a 135% upgrade in their indicated resources to 1.18 million tonnes at 6.32 g/t Au for 240,000 ounces and an inferred resource of 240,000 tonnes at 4.89 g/t Au for an additional 38,000 ounces. A 2012 resource estimated 620,000 tonnes at 5.12 g/t for 102,000 ounces in the indicated category. The updated resource also demonstrates improving grade quality (+24%) from the 2012 resource estimate and is supporting the company’s higher cut-off grade concept. CEO, William Ansley of Satori said in a phone call with yours truly “the previous resource was focused on a low-grade high-ounce concept and used as a technical report in a go public spin out transaction, but it was not a true picture of the higher grade nature of the Tartan Lake deposit.” A drill program is being planned to expand the current resources, and explore for regional targets.

The company has a drill rig on site and plans to double the drilling of its previous drill program with 3,000 metres to 4,000 commencing in late Q1/2017. There is potential to expand the resource through exploration as the resource is open along strike and to depth, with two parallel zones (largely untested below 250 m) located just south of the Main Zone. Satori’s land package is 2,670 hectares in the Flin Flon mining camp. There is a mill on site however, Satori will be primarily focused on expanding their resources through exploration.

The company has 20,475,742 shares outstanding which gives it an approximate market cap of $3 million. So far today, the company is up 2 cents to 17 cents on 368,500 shares, at time of publication. This is not a recommendation to buy the stock, do your own homework. I do not own any shares of the company and did not receive any compensation for this update.

Here is a link to the company’s most recent presentation and the company’s website:

http://www.satoriresources.ca/presentations/Satori-Ppt_2017-02-22.pdf

http://www.satoriresources.ca/