Saturn Minerals & Swift Resources Announce Coal Discovery at Saskatoba Project
Mon Dec 21, 8:31 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2009) - Saturn Minerals Inc. - (TSX VENTURE: SMI.V) ("Saturn") & Swift Resources Inc. - (TSX VENTURE: SWR.V) ("Swift") (the "Companies"), have intersected a 10.35 meter thick coal seam at a depth of approximately 112 meters on the Companies' Armit property near the town of Hudson Bay, Saskatchewan. The upper 9.74 meters of this intersection contains continuous coal with no mineral partings. A minor, 1.26 meter thick coal seam was also intersected at a depth of 102.7 meters. The discovery hole was drilled vertically and coal zone intervals are estimated to be true thickness. Due to technical difficulties, the discovery hole did not reach target depth and was suspended at a depth of 136 meters in a layer of unconsolidated sand containing coal fragments.
For location, see the map at the following link: saturnminerals.com
For photographs: saturnminerals.com
The discovery was made on drill-hole four of the announced twenty-four drill-hole program of the 2009-2010 winter drilling program (see news release Dec 7). The discovery hole was designed to test one of several priority geophysical targets (hereby referred to as the Leif sub-basin) as identified in the recently completed NI 43-101 Report on the Companies' Saskatoba Coal Project (see news release Nov 23). The Leif sub-basin is approximately 1,700 x 900 m in area, and open to exploration drilling in all directions from the discovery hole.
The first three holes were drilled on the Companies' Erwood property. The first hole was terminated in the Devonian carbonate rocks at 205 meters and encountered two minor coal seams (0.87 and 1.80 meters thick respectively). The subsequent two holes did not reach target depths and had to be abandoned due to technical problems.
The Companies caution against placing undue reliance on the visual observations of the coal intercepts until the results of analytical work have been announced. A down-hole geophysical survey is also being completed on all holes and adjustments to coal seam thickness and depth may occur when reporting final results.
The drill program has been suspended for the season and will resume in early January with the completion of the discovery hole and the drilling of the remaining priority geophysical targets in Saskatchewan.
The drill program is being conducted under the supervision of North Rim Exploration Ltd. of Saskatoon, Saskatchewan in consultation with Dr. Krzysztof Mastalerz, the Companies' qualified person under NI 43-101 standards who has reviewed and approved the technical content of this release.
Kluane Drilling Ltd. of Whitehorse, Yukon, is providing all drilling services for the project.
SATURN MINERALS INC.
SWIFT RESOURCES INC.
Mike Elson, President
To view the Saskatoba Coal project, please visit the following link: media3.marketwire.com
Saturn Minerals Inc. and Swift Resources Inc. have provided this map as an information resource based on sources deemed by Saturn Minerals Inc. and Swift Resources Inc. to be reliable. Although extensive effort has been made to produce error free and complete data, all geographic and land title information has limitations due to scale, resolution, date and interpretation of the original source materials. This information contained in this map may be used on the strict understanding that neither Saturn Minerals Inc. or Swift Resources Inc. shall be liable to any persons for any loss or damage of any nature, whether arising out of negligence or otherwise, which may be occasioned as a result of information provided by this map. The Companies also caution against placing undue reliance on the visual observations of the coal intercepts until the results of the analytical work have been announced.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contacts
Stan Szary
Saturn Minerals Inc./Swift Resources Inc.
Director
(604) 685-6989
www.SaturnMinerals.com / www.Swiftres.com |
