SMI - Saturn Minerals - Page 5
Time for this to run again.
While you're at it, take a look at SWR which has a 40% stake in the coal property and an extremely small float.
These permits are taking forever to be issued...Once one comes out these plays will all start to heat up again.
Saturn Minerals and Swift Resources Receive Additional Comfort Letter for Coal Permit Applications
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2008) - Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn") & Swift Resources Inc. (TSX VENTURE:SWR) ("Swift") (the "Companies"), announce that a Comfort Letter has been received from the Saskatchewan Ministry of Energy and Resources in regard to 117 coal permit applications submitted on behalf of the Companies on May 28th and May 29th covering a total of 89,856 hectares of which 89,088 hectares have been given "priority status" (116 of 117 applications). With the receipt of this "Comfort Letter" the total area of coal dispositions applied for by Saturn & Swift for which Comfort Letters have been received with "priority status" is 234,240 hectares (2,342.4 sq. km).
Comfort Letters include a list of dispositions applied for, the dates of the submissions, land descriptions, boundary plans, affirmation of fee payments and first year rent, the allocated Coal Prospecting Permit (CPP) numbers, and whether the submissions have priority over other applications. The "Comfort Letter" confirms that a majority of permits applied for are "first in line" and will be given priority sequence. The final granting of the coal permits is dependent upon government regulatory approval and time required to process the applications, which is at the discretion of the Government of Saskatchewan. Granting of coal permits is subject to a final review of "each application indicating he nature of the work and money to be expended". The "Comfort Letter" is not a guarantee that all or any of the permits will be issued to the Companies, only that the Companies are first in line for the permits.
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 2008 field season.
For those who would like to see this for themselves firsthand here is the link:
Once you are on that page you click on Geological atlas.
On the right hand side you will see a folder called Crown dispostions - open up the folder and check box beside the COAL dispositons, oil/gas dispositions and CRown Reserves.
Now doubleclick on the text ""COAL dispositions"" this should bring up large text under the map window that says ""Coal dispostions is now the active layer.
On the left hand side you will see the toolbar click on the + zoom tool to zero in on any area. Once you have located the coal dispositons of GXS you can use the ""i"" tool to click on any block to see who holds the permits.
There is precious little left there if you consider OIL/gas dispositons have priority and can change their dispostion to a coal lease at ay time.
On that same map - you can doubleclick on oiland gas dispositons text and it should then say ""oil and gas dispositions is now the active layer""
Use ""I "" tool to see who owns the oil/gas dispositons.
WGF and SMI appear to have staked some of the land currently permitted to BQI , Oilsands Quest.
2:11 PM ET, April 15, 2009
VANCOUVER, BRITISH COLUMBIA, Apr 15, 2009 (Marketwire via COMTEX) -- Saturn Minerals Inc. (SMI) ("Saturn") & Swift Resources Inc. (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.
2009-12-21 09:40 ET - News Release
Also News Release (C-SWR) Swift Resources Inc
Mr. Mike Elson of Saturn Minerals reports
SATURN MINERALS & SWIFT RESOURCES ANNOUNCE COAL DISCOVERY AT SASKATOBA PROJECT
Saturn Minerals Inc. and Swift Resources Inc. have intersected a 10.35-metre-thick coal seam at a depth of approximately 112 metres on the companies' Armit property near the town of Hudson Bay, Sask. The upper 9.74 metres of this intersection contains continuous coal with no mineral partings. A minor, 1.26 m thick coal seam was also intersected at a depth of 102.7 metres. 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 metres in a layer of unconsolidated sand containing coal fragments.
The discovery was made on drill hole four of the announced 24 drill hole program of the 2009-2010 winter drilling program (see news in Stockwatch Dec. 7). The discovery hole was designed to test one of several priority geophysical targets (hereby referred to as the Leif subbasin) as identified in the recently completed NI 43-101 report on the companies' Saskatoba coal project (see news in Stockwatch Nov. 23). The Leif subbasin is approximately 1,700 by 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 metres and encountered two minor coal seams (0.87 and 1.80 metres 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.
And what else is new on the venture - SELL ON NEWS...
Dammit saw the news got in for 20K at .335 and sold far too early at .385 , and hoped to reload lower. I shouldnt complain i suppose ,but this was good news.
Saturn finds 88.98 m coal intersection at Overflowing
2011-03-29 07:30 PT - News Release
Mr. Stan Szary reports
SATURN MINERALS MAKES NEW COAL DISCOVERY AT SASKATOBA PROJECT, 88.98 METRE LONG COAL INTERSECTION ON OVERFLOWING PROPERTY
Saturn Minerals Inc. has discovered a thick 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 hole QP227-01: coal: 39.85 metres -- depth: 45.45 metres;
- Drill hole 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: