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Saturn Minerals Inc. (TSX-V:SMI - News) ("Saturn" or
the "Company") is pleased to announce the discovery of a thick coal
seam (the "Saturn Coal Seam") on the Overflowing Property in
western Manitoba. The Company completed seven vertical drill holes located
within the northern and central areas of a geophysical target (the
"Karolina Basin") identified on the Overflowing property by Saturn
during previous airborne geophysical surveys. Six drill holes encountered
coal seams of significant thickness, the thickest being in drill hole
QP227-04 which encountered 88.98 metres of a single
coal seam beginning at a depth of 45.65 metres.
Drill Holes: QP227-01:
Coal: 39.85 metres - Depth: 45.45 metres
QP227-04: Coal: 88.98 metres - Depth: 44.65 metres
Drill holes QP227-01 and QP227-04 were located in the north-central
part of the Karolina Basin and encountered coal intersections of 39.85 metres and 88.98 metres at
depths of 45.45 metres and 44.65 metres, respectively. Drill hole QP227-04 with the 88.98 metre long intersection of the Saturn Coal Seam is one of
the longest single coal intersections ever reported in Canada. The true
thickness of the Saturn Coal Seam at QP227-04 ranges between 80 and 86 metres as estimated from the inclination of internal coal
layering observed in core. Both drill holes did not reach target basement
rocks and were terminated prematurely due to technical difficulties.
Drill Holes: QP227-02: No
coal encountered
QP227-03: Coal: 3.00 metres - Depth: 10.20 metres
QP227-05: Coal: 12.30 metres - Depth: 21.05 metres
QP227-06: Coal: 10.30 metres - Depth: 14.85 metres
QP227-07: Coal: 12.35 metres - Depth: 13.10 metres
Drill holes QP227-02, QP227-03, QP227-05, QP227-06 and QP227-07 were
all located along the northern periphery of the Karolina Basin and were
designed to test the geological character and coal potential of the basin
periphery. Significant coal seams were encountered in four of these drill
holes at very shallow depths. Drill holes QP227-06 and QP227-07 encountered
coal seams of 10.30 metres and 12.35 metres at depths of 14.85 metres
and 13.10 metres respectively. This is the
shallowest coal discovered by Saturn to date and demonstrates a significant
coal potential at shallow depths in the area. Both drill holes did not reach
target basement rocks and were terminated prematurely due to technical
difficulties. Drill hole QP227-05 was located near the northeastern periphery
of the Karolina Basin and intersected approximately 12 metres
of coal at relatively shallow depth. The lower part of the drill hole
intersection, beneath the main coal seam, consists of numerous intervals of
coals and strongly carbonaceous rocks interlayered
with black sandstones and conglomerates which contain numerous fragments of
coal, carbonaceous clays and abundant fine detritus of coal. Drill hole
QP227-02 was situated over the margin of a minor positive gravity feature
within the Karolina Basin and intersected limestone breccia
and was terminated in cavernous carbonate basement rocks at moderately
shallow depth.
The following table summarizes the results of Saturn's 2011 winter
drill program:
---------------------------------------------------------------------------
Drill
Hole
From(i) To(i) Width Description
Remarks
---------------------------------------------------------------------------
QP227-01 45.45 85.30 39.85 Coal with minor
mineral
partings
------------------------------------------------------------------
91.65 94.35 2.70 Coal
------------------------------------------------------------------
94.35 95.15 0.80 Carbonaceous
mudstone
---------------------------------------------------------------------------
QP227-03 10.20 13.20 3.00 Coal
------------------------------------------------------------------
13.20 13.70 0.50 Carbonaceous clay
---------------------------------------------------------------------------
QP227-04 20.20 20.60 0.40 Coal(?)
Casing, no core -
inferred
from downhole
geophysical
logs
------------------------------------------------------------------
44.65 133.63 88.98 Coal with minor
mineral
partings
---------------------------------------------------------------------------
QP227-05 21.05 25.30 4.25 Coal with mineral Casing, no core -
partings
inferred
from
downhole
geophysical
logs
------------------------------------------------------------------
25.30 33.35 8.05 Coal
------------------------------------------------------------------
36.30 38.15 1.85 Layers of coal and
------------------------
carbonaceous clay
--------------------
40.70 41.30 0.60
------------------------
--------------------
42.35 43.25 0.90
------------------------
--------------------
45.15 45.65 0.50
------------------------
--------------------
49.75 52.40 2.65
------------------------
--------------------
54.05 54.50 0.45
---------------------------------------------------------------------------
QP227-06 14.85 25.15 10.30 Coal
---------------------------------------------------------------------------
QP227-07 11.80 12.15 0.35 Coal
------------------------------------------------------------------
13.05 25.40 12.35 Coal
------------------------------------------------------------------
25.40 26.75 1.35 Carbonaceous
mudstone
---------------------------------------------------------------------------
(i) - all depths in metres
as determined by visual core inspection and
verified
by a set of downhole geophysical logs
The following table summarizes character of the Saturn Coal Seam as
encountered in drill hole QP227-04.
---------------------------------------------------------------------------
Drill Hole
From
To Width Description
---------------------------------------------------------------------------
Saturn
44.65 47.30 2.65 Coal with minor mineral partings
Coal
---------------------------------------------------------------
Seam
47.30 64.95 17.65 Coal
QP227-04
---------------------------------------------------------------
64.95 65.85 0.90 Coal with thin silty
partings
---------------------------------------------------------------
65.85 74.15 8.30 Coal
---------------------------------------------------------------
74.15 75.15 1.00 Siderite and carbonaceous siderite
---------------------------------------------------------------
75.15 112.40 37.25 Coal
---------------------------------------------------------------
112.40 113.25 0.85 Coal with thin silty
partings
---------------------------------------------------------------
113.25 121.15 7.90 Coal
---------------------------------------------------------------
121.15 125.95 4.80 Coal and silty
coal
---------------------------------------------------------------
125.95 133.63 7.68 Coal(i)
---------------------------------------------------------------------------
Total
44.65 133.63 88.98
---------------------------------------------------------------------------
(i) - the downhole
geophysical logs are available only for the upper half
of the
interval
All drill holes completed during the program were situated along three
pre-selected flight-lines of the airborne gravity survey completed over the
Overflowing Property in December 2010 (see Saturn news release, January 27,
2011). The drill program was designed to calibrate the results of this
airborne gravity survey with drill-hole data, test other geophysical
parameters of the current target and explore geological character of the
margins of potential coal basins. The edges of the Karolina Basin were not
completely defined during the drill program and the basin is open to the
southwest and the southeast.
The Company also announces that it has shipped 51 coal core samples to
Loring Laboratories in Calgary for proximate coal
analysis and collected a bulk sample of coal for a coal-to-liquid
("CTL") test. Results and additional data will be reported when the
tests are completed.
This is the second coal discovery made by Saturn on the Saskatoba Project, the first being the Leif coal
discovery on the Armit Property located in eastern
Saskatchewan (see Saturn news releases, December 21, 2009 & February 4,
2010). The Karolina Basin is located approximately 8 km due east from the
Saskatchewan-Manitoba border. To-date, the Company has completed 19 drill
holes in the region from which 14 drill holes intersected coal seams of
significant thickness.
The 7 hole drill program totaled 484.02 metres of HQ sized drill holes. Core-Pro Drilling Inc. of
Tisdale, Saskatchewan provided drilling services for the project. Century Wireline Services of Calgary, Alberta provided downhole geophysical logs.
The drill program was conducted under the supervision of Dr. Krzysztof
Mastalerz, P,Geo, the
Company's qualified person under 43-101 standards who has reviewed and
approved the technical content of this release.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX-V:SMI - News) is a junior Canadian
energy & resources company advancing a portfolio of energy and resource
assets in Saskatchewan, Manitoba and British Columbia. The Company has made
two bituminous coal discoveries at its Saskatoba
Project since 2009, including one of the thickest coal seams encountered in
Canada at 88 metres thickness. The Company
continues to build strategic relationships throughout eastern Saskatchewan to
pursue new opportunities and advance current projects in the Saskatchewan
share of the Western Canadian Sedimentary Basin.
To learn more, please visit the Company's website at: www.saturnminerals.com.
SATURN MINERALS INC.
Stan Szary, President
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.
Contact:
Contacts:
Saturn Minerals Inc.
Stan Szary
President
(604) 685-6989
www.saturnminerals.com
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