Resource News

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

The securities issued pursuant to the Private Placement, and any Shares that may be issuable on exercise of any such securities, are subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

Finders' fees were paid in connection with the first tranche of the Private Placement in the form of CDN$15,165 in cash and through the issuance of 605,500 finders' warrants (a "Finders'Warrant"). Each Finders' Warrant is 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.

CAT intends to use the net proceeds of the Private Placement for further exploration of CAT's properties, with a primary focus on the South Preston Uranium Property, and for general working capital purposes.

About CAT Strategic Metals Corporation:

CAT's Mission Statement and corporate strategy 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 South Preston Uranium Project, CAT's Burntland Project is focused on the exploration and development of several targets located Northeast of Saint Quentin in the county of Restigouche, New Brunswick, Canada, and The Gold Jackpot strategic metals property with multiple targets for gold-silver, copper, and tellurium property located NE of Elko, Nevada, in the Pequop gold-copper Trend. CAT's shares trade on the Canadian Securities Exchange under the trading symbol "CAT", on the OTC under the trading symbol "CATTF" 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 and by visiting the Company's website at www.catstrategic.com or by contacting the Company directly at (604) 674-3145.

Certain information contained in this news release constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward- looking information"). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company's business plans, expectations and objectives. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking information. Forward looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management's good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company's most recent Management's Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company's profile and on the Company's website, www.catstrategic.com. The forward-looking information set forth herein reflects the Company's expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE:CAT Strategic Metals Corporation



View source version on accesswire.com:
https://www.accesswire.com/702753/CAT-Strategic-Metals-Closes-First-Tranche-of-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

CAT:CNX
CAT Strategic Metals

CAT Strategic Metals

Overview

As investors attempt to mitigate the risks associated with the commodities cycle while still gaining exposure to its rich opportunities, resource companies with diversified portfolios may provide an exciting solution.

Diversified metal portfolios, as opposed to limited individual metal sectors, are hedged against price declines for a given commodity providing a less risky and more valuable investment for investors. Portfolio diversification also allows mining companies to improve cash flow and capitalize on the width and breadth of metal and mineral markets while managing fluctuating commodity values.

One such company is CAT Strategic Metals (CSE:CAT, OTC:CATTF, FRA:8CH), a mineral exploration company focused on the acquisition and exploration of diversified and strategic North American mineral projects. The company’s current projects include a wide range of minerals and metals including gold, silver, uranium, copper and tellurium.

“We look for undervalued projects that have already had exposure, that already had some work done in the past, that maybe had been abandoned over time for a variety of reasons, but still have good potential going forward,” said CAT Strategic Metals CEO Robert Rosner in an interview with INN.
CAT Strategic Metals employs a hybrid model that seeks out, analyzes, and acquires projects that have strong potential given past diverse mineral outputs and supporting samples. This hybrid model saves the company from spending time and resources on discovery and exploration of uncharted areas like other mining companies do. The company also takes advantage of strategic positioning by locating projects in mineral-rich regions of the world and near high-yielding mines such as Hecla Mining Company’s Hollister Nevada and Midas Nevada gold-silver mines.

The Rimrock project is located in the mining-friendly jurisdiction of Nevada in the US, only 15 km southeast of Hecla Mining’s (NYSE:HL) high-grade Midas gold-silver mine and 3 km north of the Hollister gold-silver mine. Near-surface mineralization shows the potential for the property to host several high-grade, low sulfidation, gold and silver deposits, as well as for Carlin-style gold deposits at greater depths.

The Gold Jackpot is located in the prolific Elko district in northeastern Nevada, 100 km north of Nevada Gold Mines’ Long Canyon gold mine. Other notable projects in the same region are Phoenix Copper-Gold, Roninson porphyry copper-gold, Turquoise Ridge/Getchell Mine, Twin Creeks, Goldstrike and Carlin-Mike Cu-Bluestar-Exodus gold. The company believes that Gold Jackpot has potential for Porphyry Copper-, Emperor, Fiji-, Carlin- and Midas Style deposits and Exploration Models.

CAT Strategic Metals also has two other strategic projects: the Burntland project (copper, silver and gold) in New Brunswick and South Preston project (uranium) in Saskatchewan.

CAT Strategic Metals has completed geologic mapping, sampling, Gravity-, MAG- and now is conducting Induced Polarization surveys of large-scale gold-silver targets on the Rimrock and Gold Jackpot projects. The company intends to define drill targets on both projects based on the results from these diverse programs.

CAT Strategic Metals links its success to a few key factors including its strategic alliances and acquisitions and its highly skilled management team. The company has relatively low overhead when compared to its counterparts in the industry, which has made the company highly efficient in obtaining funding and operationalizing its projects.

The company’s management team is well-experienced in the mining and exploration industry, maintaining current positions at Lucky Minerals Inc. (TSXV:LKY), EMGold Mining Corporation (TSXV:EMR) and Tarku Resources Ltd. (TSXV:TKU) and former management positions at Stria Lithium (TSXV:SRA) and Osisko Mining Corporation Canada (TSX:OSK).

Company Highlights

  • CAT Strategic Metals’ current projects focus on a wide range of minerals and metals including gold, silver, uranium, copper and tellurium in mining-friendly areas.
  • CAT Strategic Metals employs a hybrid model of acquiring mines that have been abandoned but maintain strong potential given past mineral outputs and sample indications which allows for bypassing of the discovery phase.
  • The company has two projects in Nevada: Rimrock and Gold Jackpot; and two projects in Canada: Burntland (copper, silver and gold) in New Brunswick and South Preston (uranium) in Saskatchewan.
  • The Rimrock project is located in the prolific Carlin and Midas trends and hosts near-surface mineralizations with the potential for high-grade, low sulfidation gold and silver deposits, as well as larger Carlin-style gold deposits at depth. The property is only 15 km southeast of Hecla Mining’s high-grade Midas gold-silver mine.
  • The Gold Jackpot is located in the prolific Elko district in northeastern Nevada, 100 km north of Nevada Gold Mines’ Long Canyon Gold Mine. Gold Jackpot potentially has porphyry copper, Emperor gold-tellurium, Carlin- and Midas-style exploration models.
  • The company’s management team has a long history of success in the mining and exploration industry including currently held positions at reputable mineral exploration companies.

Key Projects

Rimrock Project

The Rimrock project is located in the Elko district of Nevada, US near Hecla Mining Company’s Hollister Nevada and Midas Nevada mines, which to date have yielded 0.5 million ounces of high-grade gold-silver and 2.2 million ounces of high-grade gold and 25 million ounces of silver, respectively. The property sits on the Carlin Trend and the Midas Trend, which are prolific gold mine producing areas. The project also has an extensive infrastructure to support year-round operation on the 1,162-hectare land package.

The Rimrock project is a multi-target gold and silver system situated 15 km southeast of Hecla Mining’s high-grade Midas gold-silver mine, 13 km from new high-grade Green Racer Sinter gold-silver discovery and 3 km north of its Hollister gold-silver mine. Rimrock has the potential for shallow epithermal systems, similar to the Midas and Hollister mines, which are low sulfidation, high-grade gold deposits, and the potential for deeper Carlin-type gold deposits.

Mapping, sampling, gravity, and drone MAG survey programs have been completed in 2021, and a high resolution deep-seeking Induced polarization survey is now underway. Geologic mapping and rock-chip sampling has uncovered three new gold-silver drilling targets, bringing CAT Strategic Metals a total of five drilling targets to pursue in coming months.

Gold Jackpot Project

The Gold Jackpot project is located in the Elko district in northeastern Nevada, US which is believed to host a porphyry copper-, Emperor, Fiji-style Au-Te, Carlin-style Au, and Midas-style gold-silver exploration models. The project’s region is highly mineralized and sits on the Pequop Gold-Copper Trend, located east of the Battle Mountain-Eureka Trend, Getchell Trend and Carlin Trends, which are copper- and gold-rich areas. The project is located near high-yielding copper and gold mines such as Long Canyon, Robinson Copper-Gold, Phoenix Copper-Gold, Turquoise Ridge/Getchell Mine, Twin Creeks, Goldstrike and Carlin-Mike Cu-Bluestar-Exodus.

Gold Jackpot has had substantial historical exploration completed from the 1980s to the early 2000s including 27 drill holes completed by Tenneco from 1988 to 1989. The project has multiple exploration targets including the Carlin-style gold target that sampled up to 16 g/t of gold, a diatreme-porphyry copper-gold system and the gold-silver-tellurium-gold-silver target that yielded up to 4 kg/t of tellurium.

Interpretation of a drone-based magnetic, ground-based gravity surveys and induced polarization lines at the have been completed and defined two distinct geophysical anomalies in two locations. The surveys have also confirmed that the southern anomalies represent a diatreme-porphyry-style target, while the northern anomalies represent a Carlin-style gold target.
Planning for a follow up exploration program is underway.

South Preston Project (Uranium)

The South Preston project is located southwest of the uranium-rich region of the Athabasca Basin in Saskatchewan, Canada.

The project has more than 10 km of adjacent property bordering NexGen Energy Ltd. which recently discovered the high-grade Arrow uranium deposit. Another recent discovery in the region belongs to Fission Uranium Corp. which discovered the Triple R uranium Lake South deposit. The project also has more than 18.5 km of a continuous boundary with Orano which is a leading global uranium producer. Additionally, South Preston has 50 km of contiguous claim border with Azincourt Energy Corporation.

The South Preston project could potentially host the extension of a priority uranium exploration corridor extending from NexGen Energy Ltd.’s Rook-1 Project to Azincourt Energy Corp.’s East Preston Uranium project nearby.

Burntland Project (Copper, Silver and Gold)

The Burntland Project is located in the northern portion of New Brunswick, Canada in a region with high-grade silver, gold and copper potential. The project is accessible year-round with highways and logging roads. Burntland is located near the large-scale VMS Bathurst mining district and is adjacent to McKenzie and Rocky Brook regional fault systems.

Mineralization in the area is hosted within skarns, proximal to intruding porphyry dykes. Assay results show high-grade copper mineralization as high as 16.3 percent Cu and silver mineralization as high as 220 g/t Ag. The project has five targets that are believed to contain copper mineralization in porphyry systems based on associated geological factors.

The company has completed a drone MAG survey in 2021 to detect and delineate key geological targets. Additional high resolution Quadri-MAG, VLF, Heli Borne Survey is planned for the fall, with diamond drilling planned for fall/winter of 2021.

Management Team

Robert Rosner – Chairman of the Board, President & CEO

Robert Rosner has over 30 years of extensive experience as a mining industry entrepreneur and executive. Rosner is acting Chairman and CEO of CAT Strategic Metals Corporation. Rosner is also the director and former executive of Lucky Minerals Inc. and a director and CFO of EMgold Mining Corporation. He was instrumental in founding several junior exploration mining companies where he played significant roles in the management and growth of these companies. These included multiple resource ventures that were involved in early-stage exploration, resource location, delineation and development.

Rosner has been an officer and director of both Canadian and U.S. listed companies, providing senior management of compliance reporting, oversight and other fiduciary capacities and directing corporate activities. He also has significant experience in initial public offerings (IPO), mergers and acquisitions and reverse takeovers (RTO).

Steven Cozine – CFO & Corporate Secretary, Director

Steven Cozine has over 25 years of experience as an officer and director of numerous publicly listed companies in the mining, industrial and high-tech sectors. His experience spans a wide range of corporate management responsibilities with a focus on governance and regulatory compliance, project management and corporate finance including private funding and prospectus offerings, human resources, strategic planning and corporate operations.

Sebastian Tang – Chief Financial Officer

Sebastian Tang has been involved in the accounting and preparation of the Company’s financial statements for the past several years and is well acquainted with CAT Strategic Metals and its projects. Additionally, Sebastian has significant experience in the financial management and planning of publicly listed issuers. He has held executive positions, including CFO and corporate controller in other public and private ventures. Before starting his own firm, he worked in public practice for 7 years, including two years at Ernst & Young, and 8 years in private practice with Hunter Dickinson Inc.

Julien Davy – Director

Mr. Davy began his career as an exploration geologist in the summer of 1996. His tenure includes assessing numerous projects at the exploration and/or advanced stages of development throughout Canada and abroad. Davy has been involved in numerous acquisitions and mining investment activities. Davy is currently the President & CEO of Tarku Resources Ltd. and concurrently has held the positions of President at Stria Lithium and a senior exploration geologist at Osisko Mining Corporation Canada.

Additionally, Davy was an investment consultant for SIDEX s.e.c. of Montréal. Davy also has been employed by numerous companies including NioGold Mining Corporation in Val-d’Or, Hecla Mining in Venezuela, Cambior Exploration Canada, Anglo-American Exploration and the Ministry of Natural Resources of Québec. In 2015, Davy co-founded, with Benoit Lafrance, Eureka Exploration, a private exploration company that was sold to Tarku Resources in June 2017. Davy is a member of the OGQ and Qualified Person (QP) according to National Instrument 43-101. Mr. Davy has a Master’s degree from the Université du Québec à Montréal and an MBA from HEC in Montréal.

Luis Martins – Director

Luis Martins is a geologist with over 30 years of experience in the exploration and mining sector. He graduated from the Faculty of Sciences of Lisbon in 1973 and has an MSc in Economic Geology from the same faculty in 1995 and also has completed several other national and international post-graduation courses. Martins previous roles include Director of the Mineral Resources Department at the Geology and Mining Institute, Director of the Mines and Quarries Department at the Directorate-General of Energy and Geology (the mining authority), Vice President of Colt Resources Inc., CEO of Ozdogou Portugal Mining and Exploration Lda. and Director of Assimagra (a Portuguese mining association). He has participated in numerous national and international research projects, especially in the mineral exploration, environmental geology and mining heritage fields. Martins is currently the President of the Cluster Portugal Mineral Resources.

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 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.

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

Rimrock Gold Property

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CAT Strategic Metals Announces Plan for Exploration of Its Large South Preston Uranium Exploration Property in the Athabasca Basinac

CAT Strategic Metals Announces Plan for Exploration of Its Large South Preston Uranium Exploration Property in the Athabasca Basinac

CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") announces that, further to its news release of January 11, 2022, it is pleased to provide further details concerning its exploration of the 206.8 km2 South Preston uranium exploration property located near the south-western margin of the Athabasca Basin in Saskatchewan (Figure 1

The past decade of uranium exploration has proven the importance of thoroughly exploring outside the area now covered by Athabasca Group sedimentary rocks. These areas of basement exposure, once covered by the Athabasca, have recently yielded Fission Uranium's discovery at Patterson Lake South ("PLS"), the Triple-R deposit which hosts in excess of 102 Mlbs of U3O8. The CAT property is situated only 40 km to the southeast of PLS (Figure 2).

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CAT Strategic Metals Corp. Announces Completion of Detailed Review by WGM of its Large South Preston Uranium Exploration Property on the SW Margin of the Athabasca Basin, with Recommendations for Further Exploration

CAT Strategic Metals Corp. Announces Completion of Detailed Review by WGM of its Large South Preston Uranium Exploration Property on the SW Margin of the Athabasca Basin, with Recommendations for Further Exploration

CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") is very pleased to announce that the consulting firm Watts, Griffis and McOuat Ltd. ("WGM") of Toronto has completed an independent review of extensive historical and recent exploration data concerning areas on or adjacent to CAT's 206.8 km2 South Preston uranium exploration property located near the south-western margin of the Athabasca Basin in Saskatchewan, and east of recent discoveries by Fission Uranium and NexGen Energy (Figure 1

Figure 1: The CAT dispositions measuring 57 km from west to east are shown with a Google Earth image fill in the lower right corner of the view. The uranium deposits in the Patterson Lake Corridor are shown at upper left. The dispositions of other exploration companies are also shown.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Purepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan

Purepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan

Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") is pleased to announce that its proposed adoption of a new omnibus equity incentive compensation plan (the "Omnibus Plan") was approved by the Company's shareholders at its annual and special meeting of shareholders held on June 29, 2022 (the "Meeting"). The Omnibus Plan replaced the Company's existing stock option plan and includes a 10% "rolling" option plan permitting a maximum of 10% of the issued and outstanding common shares of the Company as at the date of any option grant to be reserved for option grants and a fixed plan permitting 36,888,943 common shares of the Company to be reserved for grant of restricted share units and performance share units. Please refer to the Company's management information circular dated May 13, 2022 which is available under the Company's profile at www.sedar.com for a copy and summary of the Omnibus Plan.

About Purepoint

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Commences Airborne Survey at Geikie Project in Athabasca Basin

CanAlaska Commences Airborne Survey at Geikie Project in Athabasca Basin

Airborne Magnetics and Radiometrics to Confirm Existing Targets and Generate New Targets, Preparing for Planned Summer Ground Prospecting Program

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has commenced a high-resolution helicopter-borne aeromagnetics and radiometrics survey on it's Geikie project in the Athabasca Basin (Figure 1). The survey consists of 3,731 line-km's of airborne surveying at 100 m line-spacing across the Geikie project to identify magnetic and radiometric anomalies for future targeted ground prospecting and drilling.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FORTUNE BAY INTERSECTS ELEVATED RADIOACTIVITY IN MAIDEN DRILL PROGRAM AT THE STRIKE URANIUM PROJECT

FORTUNE BAY INTERSECTS ELEVATED RADIOACTIVITY IN MAIDEN DRILL PROGRAM AT THE STRIKE URANIUM PROJECT

Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce initial drill results for its 100% owned Strike Uranium Project ("Strike" or the "Project"), located in northern Saskatchewan (see Figures 1 and 2). A total of nine drill holes were completed comprising 2,064 metres. Results included shallow intersections of elevated radioactivity, between 35 and 95 metres below surface, within favorable geological settings for high-grade, basement hosted deposits typical of the Athabasca Basin.

Highlights:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
ValOre Metals

ValOre Reports Encouraging Trench Results from Tróia Target, Pedra Branca

ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTC: KVLQF; Frankfurt: KEQ0, "the Company") today announced trench channel sample assay results from the Tróia target ("Tróia") at ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil.

"Our geological team continues to deliver at the Pedra Branca palladium-platinum project. Tróia joins Ipueiras and Galante East in our pipeline of drill-ready targets," stated ValOre's V.P. of Exploration, Colin Smith. "The trench results at the Tróia target confirm the presence of in-situ PGE mineralization intercepted in previously reported Trado ® auger drilling and rock sampling and demonstrate potential continuity of the target chromite-bearing ultramafic rocks over 600 m along trend. Mineralization and the target ultramafic intrusion remain fully open at depth and warrant follow-up core or RC drilling."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Purepoint Uranium Initiates Program at 100% Owned Carson Lake Project

Purepoint Uranium Initiates Program at 100% Owned Carson Lake Project

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced the commencement of an airborne gravitymagnetic survey over their 100% owned Carson Lake Uranium Project which lies on the north-eastern edge of the Athabasca Basin, Saskatchewan, Canada.

The Carson Lake project covers the northeast extension of a major conductive trend that is also present on Purepoint's Red Willow project. The current airborne gravity survey results will help further define north-south trending structures and geologic contacts interpreted from prior magnetic survey results. Interpreted structures that crosscut the conductive trend are considered prospective exploration target areas as structural complexity may have developed and trapped uranium-rich fluids.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
CanAlaska Commences Airborne Survey at Key Extension Project in Athabasca Basin

CanAlaska Commences Airborne Survey at Key Extension Project in Athabasca Basin

Airborne Magnetics and Radiometrics to Confirm Targeting Near Large Gravity Anomalies

Summer Ground Prospecting and Drill Program Now Permitted

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×