CAT Strategic Receives Work Authorization to Conduct Diamond Drill Program on Burntland Project in New Brunswick; Additional Drill Targets to be Identified Following Latest Airborne Geophysical Survey

CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") announces that it has received all of the necessary governmental authorizations and permits required to begin diamond drilling on the Company's Burntland Property in northern New Brunswick. CAT is about to proceed with a 7 hole diamond drill program to further explore and evaluate the potential volume of a trenching program that occurred over the summer of 2020

This previous trenching identified extensive areas of skarnified sediment-hosted mineralization adjacent to porphyry dykes. The average of 27 samples collected from this trench area returned 1.67 % Cu and 39.3 g/t Ag, with samples taken selectively across approximately 60 metres of the exposed trench. The highest-grade samples from this exercise include up to 16.3 % Cu & 220.0 g/t Ag, 5.58 % Cu & 192.0 g/t Ag, and 6.2 % Cu & 118 g/t Ag. Note that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property. A historical ground magnetic survey indicates that skarn-type mineralization on the Project is often found at the margins of magnetic-high areas.

Over the summer of 2021, CAT conducted a 975 line-kilometre high-resolution drone magnetic survey that was flown at a low elevation approximately 10 metres above the tree-line and at 25 metre line spacings, covering the entirety of the Project. The magnetic survey, flown at low altitude and lower speeds compared to conventional helicopter or fixed-wing surveys, collected an abundance of data that was used to identify structural features that may be related to mineralization as well as to identify areas of magnetic disruption that may be related alteration associated with hydrothermal mineralizing fluids.

The results of the drone magnetic survey indicated that further work needed to be done and the Company engaged EAGLE Geophysique Inc. ("EAGLE") to perform a geophysical VLF-EM, DTM and Mag survey designed to identify structures that would provide enough data to establish targets for a diamond drill program. This recently concluded survey, known as a Quadri-Mag, is the latest generation in high precision airborne equipment, and the ultra-wide horizontal and vertical gradient allows mapping of subtle changes in rock properties. The platform was towed under a helicopter for maximum ground proximity, and It's 10 meter horizontal and 3 meter vertical gradient enable it to locate hydrothermal alteration, kimberlite dykes and sills and other geological structural features. The passive EMequipment is capable of detecting conductors at depths greater than 1 kilometer. By measuring naturally occurring EM fields (AFMAG - audio frequencies magnetics) both discrete conductors and bulk changes in resistivity and conductivity common in geologic contacts and structures can be detected.The EAGLE geophysical program consisted of a total of 970 linear Km's over a survey area of 47.55 square Kilometers.

The combined data of the trenching geophysical programs were instrumental in identifying the initial 7 diamond drill targets and allowed the Company to engage Forages Technic Eau Inc. ("FTE") as the contractor to undertake the diamond drill program which is scheduled to begin November 15, 2021. Further, and ongoing, study and interpretation of the most recent EAGLE geophysical survey is expected to indicate additional areas of heightened interest and result in identifying additional diamond drill targets on the property.

Qualified Person

Mr. Patrick Laforest, P.Geo (Québec), is the qualified person as defined by National Instrument 43-101 who has reviewed and approved the technical contents of this press release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regard to the neighbouring projects and historical drilling data.

About CAT Strategic Metals Corporation:

CAT Strategic Metals Corporation is a Canadian based mineral exploration company focused on the acquisition and de risking of overlooked projects situated in well-established World Class geological districts in North America. The Company is specially focused on minerals which are considered highly strategic from a monetary as well as global infrastructure and energy point of view. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", on the OTCMarkets.com 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, 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/671127/CAT-Strategic-Receives-Work-Authorization-to-Conduct-Diamond-Drill-Program-on-Burntland-Project-in-New-Brunswick-Additional-Drill-Targets-to-be-Identified-Following-Latest-Airborne-Geophysical-Survey

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Advancing Multiple Gold Discoveries in Proven Jurisdictions

Advancing Multiple Gold Discoveries in Proven Jurisdictions

Focused on adding value through cost effective minerals exploration and discovery

This Presentation has been prepared as a summary only and does not contain all information about Many Peaks Minerals Limited’s (“MPK” or the “Company”) assets and liabilities, financial position and performance, profits and losses, prospects and rights and liabilities. The information in this Presentation and made to you verbally is subject to updating, completion, revision, further verification and amendment without notice.
Keep reading...Show less
Siren Gold

Significant Mineralisation Intersected at Auld Creek

Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide an update on its Auld Creek Prospect.
Keep reading...Show less
Flynn Gold

Polymetallic Strike and Depth Potential Identified at Firetower Project

Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to provide an update on its exploration activities at its 100%-owned Firetower Project located in northwest Tasmania.

Keep reading...Show less
Acquisition of Advanced Gold Projects in Cote D’Ivoire

Acquisition of Advanced Gold Projects in Cote D’Ivoire

Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to announce entering a binding Share Sale Agreement (Agreement) with Turaco Gold Limited (Turaco) to acquire its 89% interest in CDI Holdings (Guernsey) Ltd (CDI Holdings). CDI Holdings is an 89% subsidiary of Turaco, held with Predictive Discovery Limited (Predictive), holding an 11% free carry ownership in a joint venture with Turaco. The Agreement will trigger Turaco’s drag-along right in its joint venture with Predictive, whereby Many Peaks will also acquire Predictive’s remaining 11% interest and consolidate 100% ownership of the joint venture entity CDI Holdings.

Keep reading...Show less
Mining cart full of gold.

Barrick to Look for More Gold and Copper Through DRC Partnership

Barrick Gold (TSX:ABX,NYSE:GOLD) is setting its sights on expanding its operations through a partnership with the Democratic Republic of Congo (DRC) that would open up new gold and copper opportunities for the company.

Kibali — the company’s joint venture with AngloGold Ashanti (NYSE:AU,JSE:ANG) — continues to set production records after another successful year, punctuated by the 343,000 ounces of gold it produced in 2023.

Barrick is forecasting higher attributable production from Kibali in 2024, setting a goal of 320,000 to 360,000 ounces.

Keep reading...Show less

AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF FIRST QUARTER 2024 RESULTS, CONFERENCE CALL AND ANNUAL MEETING

Stock Symbol: AEM (NYSE and TSX)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it will release its first quarter 2024 results on Thursday, April 25, 2024 after normal trading hours. Additionally, the Company will host its Annual and Special Meeting of Shareholders (the "AGM") the following day, Friday, April 26, 2024 in a hybrid format (in Toronto and virtually).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×