Advancing a portfolio of coal & oil projects in Saskatchewan and Manitoba
Company has made the thickest coal seam intersections ever encountered in Canada at 88 metres
Message: Submit Manitoba Quarry (Coal) Exploration Permit Applications
| April 15, 2009 |
| Saturn Minerals and Swift Resources Submit Manitoba Quarry (Coal) Exploration Permit Applications; Complete Ground Geophysical Survey in Saskatchewan |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn") & Swift Resources Inc. (TSX VENTURE:SWR) ("Swift") (the "Companies") have submitted Quarry (Coal) Exploration Permit applications to the Mines Branch of the Province of Manitoba's Department of Science, Technology, Energy and Mines for an area of 14,592 hectares (approximately 145 sq. km). The Companies have also completed a ground geophysical survey in Saskatchewan on the Companies' coal properties located east of the town of Hudson Bay. Manitoba - Quarry (Coal) Permit Applications The Manitoba Quarry (Coal) Applications total 14,592 hectares, the majority of which are accessible by road and/or railroad. The applications cover lands hosting Lower Cretaceous coal-bearing strata of the Mannville Group (referred to as the Swan River Group in Manitoba) and are situated north, south and east of the recent coal discovery announced by Westcore Energy Ltd. (WTR.P - TSX.V) (see attached map). The lands applied for by the Companies were selected to coincide with road and/or railroad access, mapped subcrop of the Mannville (Swan River Group) sediments, and structurally-controlled sub-basin development. Results from recent exploratory diamond drill programs completed in Manitoba and Saskatchewan by Westcore Energy Ltd. (WTR.P - TSX.V) and Goldsource Mines Inc. (GXS - TSX.V) respectively, have illustrated that sub-basin development within the Mannville (Swan River Group) in Saskatchewan and Manitoba has the potential to host coal. The final granting of Quarry Exploration Permits is dependent upon Manitoba government regulatory approval and time required to process the applications, which is at the discretion of the Government of Manitoba. Granting of Quarry Exploration Permits is subject to a final review of each application indicating the nature of the work to be conducted. All lands applied for in Manitoba will be held by the Companies in accordance with the Joint-Venture Agreement as announced by Saturn & Swift, being 60% Saturn and 40% Swift (news release, May 28, 2008). Saturn will be the operator of the Saskatchewan and Manitoba coal projects. With the addition of the Manitoba Quarry Permit Applications, the Companies now hold and have applied for coal properties totaling 178,894 hectares (1,788.94 sq. km) in Saskatchewan and 14,592 hectares (145 sq. km) in Manitoba. Saskatchewan - Ground Geophysical Survey The companies have completed a ground geophysical survey on the Companies jointly-held coal properties in eastern Saskatchewan. SJ Geophysics of Delta, BC, was retained by the Companies to conduct the survey. The geophysical survey was focused on the Companies' claim blocks located east of the town of Hudson Bay, located approximately 25 km south of the Durango coal discovery, and approximately 15 km south of the Split-Leaf coal discovery, both made by Goldsource Mines Inc. The geophysical survey was designed to verify, update and expand data obtained by the Companies in regards to the relationship between potential Cretaceous sub-basins and negative gravity anomalies documented on the Companies' properties by historic gravity surveys. The data obtained from this survey will be used in prioritizing the Companies' drill targets in Saskatchewan. A total of 41 all-season diamond drill locations have been selected. Requisite applications for exploratory drilling and work proposals have been submitted to the Saskatchewan government. The time frame for granting drill permits is dependent upon Saskatchewan regulatory requirements. Dr. Krzysztof Mastalerz, P.Geo., Qualified Person for Saturn and Swift, as defined by NI 43-101 standards, is currently coordinating research of the Lower Cretaceous sedimentary basin development in east-central Saskatchewan, in regards to the Mannville Group which hosts the discovery reported by Goldsource Mines Inc. Subject to final permitting and in sequential order the Companies are scheduling a preliminary exploration program for the 2009 summer field season. The Companies will provide additional information when it becomes available. Krzysztof Mastalerz, Ph.D., (P.Geo.), a qualified person under 43-101 standards, has reviewed and approved the technical information contained in this news release. SATURN MINERALS INC. SWIFT RESOURCES INC. Mike Elson, President & Chief Executive Officer To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/SM... |
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