CAT Announces Imminent Start to Contracted Heli-borne AEM Survey of its South Preston Uranium Project in the Athabasca Basin

CAT Announces Imminent Start to Contracted Heli-borne AEM Survey of its South Preston Uranium Project in the Athabasca Basin

CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") is pleased to advise that further to its news release of April 4, 2022, the Company has signed an agreement with Balch Exploration Consultants ("BECI") of Mississauga, Ontario, to carry out an approximate 1,000 line-kilometre detailed helicopter-borne geophysical survey. This survey will cover two key portions of the Company's flagship South Preston Uranium Property, which is located on the southwestern margin of the Athabasca Basin, approximately 35 km from the Fission Uranium Corp.("FCU") and NexGen Energy Ltd. ("NXE") uranium deposits in the Patterson Lake South area. CAT's property lies adjacent to, and directly on-strike with, EM conductors attributed to graphitic metasediments recently discovered less than a kilometre away by Azincourt Energy Corp. ("AAZ") as well as historical conductors that were discovered in the 1970s by Denison Mines. The combined airborne EM and magnetometer survey scheduled for completion in May using the advanced AirTEM system will explore areas not previously surveyed by EM and only partially covered by historical reconnaissance-level radiometric surveying

This geophysical survey forms part of an integrated, multi-stage exploration program being managed for CAT by well-known exploration consultants Watt, Griffis and McOuat Limited ("WGM"), who were engaged in October, 2021 for the purpose of evaluating and exploring the South Preston property for economically viable uranium mineralization. WGM's comprehensive review of historical reports, completed in January, revealed that the South Preston property covered geological terrane just south of the margin of the southern Athabasca Basin generally comparable to the Patterson Lake South area. It also revealed the presence of untested zones of anomalous radioactivity in bedrock and the occurrence of uranium mineralization at one site associated with sheared graphitic metasedimentary rocks. These historical reports made little or no mention of follow-up exploration in these areas which lie adjacent to the current Athabasca unconformity. WGM concluded that the minimal follow-up exploration in the 1970s and 1980s was due to the absence of sandstone cover which was assumed at the time to be a vital component of the geological model and exploration targeting, and that overall, the South Preston property merited further exploration using current technology and concepts.

Based on his experience in uranium exploration in the Athabasca Basin in the 1970's and 1980's for Gulf Minerals Canada Limited, WGM's Vice-President and project manager Al Workman, P.Geo., noted similarities to the South Preston project and remarked in communications to CAT management that "Many current explorers in the Athabasca Basin have forgotten, or perhaps were never aware, that Gulf's original 1967 exploration program that discovered the Rabbit Lake Mine came very close to failing. Due to its focus on sandstone-type deposits, the radiometric anomaly that led eventually to the Rabbit Lake discovery was initially ignored because it occurred in an area lacking Athabasca sandstone cover. Persistence and Gulf's willingness to re-evaluate its assumptions led to that discovery which arguably changed the world of uranium exploration".

CAT management and WGM look forward to the results of the forthcoming geophysical surveying, which will be a key first step in the process of exploring the South Preston Uranium Property. A summer program is planned which will entail ground follow-up by a WGM geological team in favourable areas, particularly where conductors are identified.

About WGM

Founded in 1962, WGM is Canada's longest operating independent firm of geological and mining consultants providing professional services meeting global standards to the mineral resource industry. WGM has been involved in more than 3,000 mineral projects around the world, and its staff has made significant contributions to a number of important mineral discoveries and new mines. Notably among them are the Mary River iron deposits on Baffin Island, the Asbestos Hill in Quebec, and the Greens Greek silver-gold-zinc mine and the Pogo gold mine; both of which are located in Alaska. Additionally, as acknowledged by the original owner, Cominco, WGM played a major role in the recognition of the massive Red Dog Pb-Zn mine in Alaska as a high-priority exploration target.

About CAT Strategic Metals Corporation (CAT):

CAT Strategic Metals' corporate strategy, as reflected in its overall Mission Statement, is to source, identify, acquire and advance property interests located in mineral districts proven to have world-class potential, primarily for gold and copper. In addition to the priority South Preston Uranium Project, CAT' is focused on advancing the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets and the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper trend with multiple targets for gold-silver, copper, and tellurium. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", and on the Frankfurt Stock Exchange under the symbol "8CH".

ON BEHALF OF THE BOARD
Robert Rosner
Chairman, President & CEO

Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting the Company's website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted exploration outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will be found or have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates

Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.

SOURCE: CAT Strategic Metals Corporation



View source version on accesswire.com:
https://www.accesswire.com/697206/CAT-Announces-Imminent-Start-to-Contracted-Heli-borne-AEM-Survey-of-its-South-Preston-Uranium-Project-in-the-Athabasca-Basin

News Provided by ACCESSWIRE via QuoteMedia

CAT:CNX
The Conversation (0)
CAT Strategic Deploys Crew to Begin Ground Geophysical Survey of South Preston Uranium Project

CAT Strategic Deploys Crew to Begin Ground Geophysical Survey of South Preston Uranium Project

CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") reports that, further to its news release of July 5, 2022, announcing the completion of a detailed airborne geophysical survey on the South Preston Uranium Project in Canada's prolific Athabasca Basin, the Company has deployed an exploration team to the property in order to begin a highly anticipated exploration program

Two field crews will be conducting a variety of activities; including prospecting with gamma-ray spectrometers for radioactive bedrock and boulders in the areas over, and adjacent to, conductors identified by the recently completed airborne EM-magnetometer survey. The crews will map and sample any bedrock encountered in the target areas.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CAT Strategic Metals Completes Initial Airborne Geophysical Survey of Key Parts of its South Preston Uranium Project in Canada's Prolific Athabasca Basin

CAT Strategic Metals Completes Initial Airborne Geophysical Survey of Key Parts of its South Preston Uranium Project in Canada's Prolific Athabasca Basin

CAT Strategic Metals Corporation (CSE:CAT)(OTC:CATTF)(FRA:8CHA) ("CAT" or the "Company") reports that, further to its news release of April 13, 2022, announcing an airborne survey on the East Preston Project in Canada's prolific Athabasca Basin, the Company has completed a detailed helicopter-borne geophysical survey over specific and carefully chosen portions of the Company's flagship South Preston Uranium Property. The project is located on the south-western margin of the Athabasca Basin approximately 35 km from the uranium deposits discovered in the Patterson Lake South area by Fission Uranium Corp. ("Fission" or "FCU") and NexGen Energy Ltd. ("NexGen" or "NXE

CAT's just completed survey totaled 984.7 line-kilometres covering two key target areas that were identified by internationally recognized and acclaimed mining consultants, Watts, Griffis and McOuat Limited ("WGM") which was engaged by the Company in October, 2021 for the purpose of advising on, and managing, the exploration of the South Preston property. CAT's South Preston Uranium Project is comprised of 29,395 hectares, and shares more than 10km of the adjacent property border with NexGen, as well as 50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ")

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CAT Strategic Metals Closes First Tranche of Private Placement

CAT Strategic Metals Closes First Tranche of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CHA) ("CAT" or the "Company") announces that it has closed the first tranche of the previously announced non-brokered private placement (the "Private Placement"), whereby the Company issued 27,816,666 units (the "Units") at a price of CDN$0.03 per Unit for proceeds of $834,500. Each Unit is comprised of one common share in the capital of the Company (a "Share") and one whole non-transferable share purchase warrant (a "Warrant"). Each whole Warrant will be exercisable to acquire one Share at an exercise price of CDN$0.05 per Share for a period of 36 months from the date of issuance

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CAT Strategic Metals Announces Non-Brokered Private Placement to Raise up to CDN$1.5 Million, for Which Firm Commitments of CDN$900k Have Been Obtained

CAT Strategic Metals Announces Non-Brokered Private Placement to Raise up to CDN$1.5 Million, for Which Firm Commitments of CDN$900k Have Been Obtained

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CHA) ("CAT" or the "Company") announces that it intends to raise up to CDN$1,500,000 by way of a non-brokered private placement of 50,000,000 units (the "Units"), at a price of CDN$0.03 per Unit (the "Private Placement"), for which firm commitments of CDN$900,000 have been obtained. Each Unit will be comprised of one common share in the capital of the Company (a "Share") and one whole non-transferable share purchase warrant (a "Warrant"). Each whole Warrant will be exercisable to acquire one Share at an exercise price of CDN$0.05 per Share for a period of 36 months from the date of issuance

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CAT Strategic Metals Completes Diamond Drill Program on Burntland Project; Provides Corporate Update on Rimrock Gold Property and A Focus on The South Preston Uranium Project in Canada's Prolific Athabasca Basin.

CAT Strategic Metals Completes Diamond Drill Program on Burntland Project; Provides Corporate Update on Rimrock Gold Property and A Focus on The South Preston Uranium Project in Canada's Prolific Athabasca Basin.

CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") announces that it has completed the 7-hole diamond drilling campaign on its Burntland property in New Brunswick, and the core processing is completed. 904m of the total 1416m drilled were sampled and are currently being processed to be assayed at the ALS laboratory in Vancouver. Patrick Laforest, P.Geo, the Company's field project manager and designated QCQA geologist stated, "The core logs and visual analysis of the core itself are quite promising, with locally moderate to medium visual content of Chalcopyrite (copper sulfide), particularly in drill hole #6. In addition, the Pyrite, Pyrrhotite and Sphalerite content in the 7 holes is a beacon of optimism for the Assay results. "Assay results are expected to be provided by ALS this quarter

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Gold bull jumping.

How High Can the Gold Price Go? Mining Billionaires Share Big Predictions

The gold price has hit record levels in 2024, leaving investors wondering just how high it can go.

During a recent webinar presented by the Mining Network, host Simon Catt, asset management director at Arlington Group, was joined by a group of industry veterans who gave their thoughts on where gold and silver may be going.

The group was comprised of Eric Sprott, founder of Sprott Securities and Sprott Asset Management; Franco-Nevada (TSX:FNV,NYSE:FNV) founder and Chair Emeritus Pierre Lassonde; Ned Naylor-Leyland, gold and silver fund manager at Jupiter Asset Management; Luke Gromen, founder of macroeconomic research firm Forest for the Trees; and Michael Oliver, founder and CEO of technical research firm Momentum Structural Analysis.

Keep reading...Show less

Trojan Gold Inc. Announces Non-Brokered Private Placement

Trojan Gold Inc. (CSE: TGII) (the "Company" or "Trojan") is pleased to announce a private placement financing consisting of the sale of up to 10,000,000 units (the "Units") and 5,000,000 flow-through units (the "FT Units") in the capital of the Company at a price of CDN$0.05 per Unit and CDN$0.10 per FT Unit for aggregate gross proceeds of a minimum of CDN$350,000 and a maximum of CDN$1,000,000 (the "Offering").

Each Unit will consist of one common share (a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Unit Warrant"). Each Unit Warrant will entitle the holder thereof to purchase one Common Share in the capital of the Company for a price of CDN$0.08 for a period of 24 months from the date of the closing, subject to acceleration of the expiry date upon the occurrence of certain events.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

MONTAGE GOLD ANNOUNCES NOTICE OF ANNUAL GENERAL MEETING ALONG WITH PROPOSED DIRECTOR NOMINEES

Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCQX: MAUTF) announces that it will hold its Annual General and Special Meeting (the "Meeting") on Friday, June 7, 2024 . The Notice of Meeting and Management Information Circular relating to the meeting has been mailed to shareholders and has been filed under the Company's profile at www.sedarplus.ca .

Montage Gold logo (CNW Group/Montage Gold Corp.)

The proposed slate of director nominees will consist of six individuals: Ron Hochstein , Richard P. Clark , Anu Dhir, David Field , Alessandro Bitelli and Martino De Ciccio . If elected, Ron Hochstein will be proposed as the Chair of the Board replacing Peter Mitchell who is not standing for re-election. In addition, Sasha Bukacheva and Hugh Stuart will not be standing for re-election as directors. With the successful transition of the previously announced new management team complete, Hugh Stuart , Kevin Ross , and Adam Spencer will be stepping down from their executive positions over the coming weeks.

Ron Hochstein , proposed Chair of the Board commented: "I would like to thank Peter Mitchell for his contributions and leadership during his time as Chair of the Board. I would also like to thank Sasha and Hugh for their contributions to the board during their tenure as directors. I also extend my gratitude to Hugh, Kevin, and Adam for their assistance during this transition phase for the Company as well as their significant contributions to the success of Montage over the years."

Shareholders as of the record date of April 26, 2024 , will be eligible to vote at the Meeting. Shareholders are encouraged to vote by proxy, which must be received by Endeavor Trust by 10:00 a.m. , Vancouver Time on Wednesday, June 5, 2024 .

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d'Ivoire, at the forefront. Based on the Feasibility Study published in 2024, the Koné project ranks as one of the highest quality gold projects in Africa with a long 16-year mine life, low AISC of $998 /oz over its life of mine, and sizeable annual production of +300koz of gold over the first 8 years. Over the course of 2024, the Montage management team will be leveraging their extensive track record in developing projects in Africa to progress the Koné project towards an investment decision, thereby unlocking significant value for all its stakeholders.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, "Forward-looking Statements"). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as "will", "intends", "proposed" and "expects" or similar expressions are intended to identify Forward-looking Statements. Forward looking Statements in this press release include statements related to the use of proceeds from the Offering; the final acceptance of the TSX Venture Exchange; the Company's mineral reserve and mineral resource estimates; the timing and amount of future production from the Koné project; expectations with respect AISC of the Koné project; anticipated mine life of the Koné project; and expected recoveries and grades of the Koné project. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies such as the Mineral Reserve Estimate and the UFS, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates, unexpected changes to geotechnical or hydrogeological considerations, unexpected failures of plant, equipment or processes, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d'Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, risks relating to COVID-19, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company's 2023 AIF under the heading "Risk Factors". The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.

NON-GAAP MEASURES

This press release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including cash costs and AISC (or "all-in sustaining costs") per payable ounce of gold sold and per tonne processed and mining, processing and operating costs reported on a unit basis. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures employed by other companies. The Company discloses "cash costs" and "all-in sustaining costs" and other unit costs because it understands that certain investors use this information to determine the Company's ability to generate earnings and cash flows for use in investing and other activities. The Company believes that conventional measures of performance prepared in accordance with IFRS, do not fully illustrate the ability of mines to generate cash flows. The measures, as determined under IFRS, are not necessarily indicative of operating profit or cash flows from operating activities. The measures cash costs and all-in sustaining costs and unit costs are considered to be key indicators of a project's ability to generate operating earnings and cash flows. Non-GAAP financial measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs, operating profit or cash flows presented under IFRS. Readers should also refer to our management's discussion and analysis, available under our corporate profile at www.sedarplus.ca for a more detailed discussion of how we calculate such measures.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/montage-gold-announces-notice-of-annual-general-meeting-along-with-proposed-director-nominees-302148393.html

SOURCE Montage Gold Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/17/c6524.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Impact Minerals

Impact funded to complete Pre-Feasibility Study at the Lake Hope High Purity Alumina Project, WA

Impact Minerals Limited (ASX:IPT) (Company) is pleased to advise that it has received firm commitments from sophisticated investors for a strategic placement (Placement) to raise A$3,000,000 (before costs) via the issue of 150,000,000 fully paid ordinary shares (Placement Shares) in the capital of the Company (Shares) at an issue price of A$0.02 per Placement Share. For every three Placement Shares subscribed for, one free-attaching option will be issued with an exercise price of $0.027 per option and an expiry date that is 15 months after the date of issue (Placement Options).

Keep reading...Show less
John Feneck, gold bars.

John Feneck: Gold, Silver, Copper, Uranium — 10 Stocks I'm Watching Now

John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he's currently watching.

Starting with gold, he said he thinks it's proven itself as a safe-haven asset, with more "smart money" now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances.

"We're off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money ... (and) that's what's needed to generate more interest in the space," Feneck said.

Keep reading...Show less
ALX Resources

ALX Resources


Keep reading...Show less

Latest Press Releases

Related News

×