CAT Strategic Metals Corporation announces the following work update on its Gold Jackpot mineral property in Elko County, NevadaGOLD JACKPOT Copper-Gold-Silver-Tellurium PropertyThe interpretation of the drone-based magnetic, ground-based gravity surveys and the three induced polarization lines at the Gold Jackpot Property has now been completed.These surveys have defined two distinct geophysical anomalies in two …
CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) (“CAT” or the ‘Company’) announces the following work update on its Gold Jackpot mineral property in Elko County, Nevada
GOLD JACKPOT Copper-Gold-Silver-Tellurium Property
- The interpretation of the drone-based magnetic, ground-based gravity surveys and the three induced polarization (IP) lines at the Gold Jackpot Property has now been completed.
- These surveys have defined two distinct geophysical anomalies in two locations that appear spatially related to previously taken anomalous gold and copper rock chip samples and are bounded by major regional structures to the west and east
- The high-chargeability and low-resistivity anomalies could potentially represent sulphide mineralization at depth
- The results of the surveys confirm the Company’s working hypothesis that the southern anomalies represent a diatreme-porphyry-style target, while the northern anomalies represent a Carlin-style gold target
- The Company will now commence planning of a follow up exploration programme that should include drilling to test these exciting targets
James L. Wright M.Sc. of Wright Geophysics has completed the data processing and interpretation of the latest geophysical results.
In the northern section of the Property three coincident high-chargeability anomaly and low-resistivity anomaly are associated with a limestone/dolomite host rock (Figure 1). These anomalies are located in proximity to where a 1.2 gram per tonne gold in rock chip sample was taken previously by Gold Reef International.
In the southern section of the Property a coincident high-chargeability anomaly and low-resistivity anomaly is also associated with a folded limestone/dolomite mudstone contact. The host rocks form an anticlinal structure with the western limb turning vertical or bounded by a fault. The chargeability section shows a west dipping anomaly wrapping along the western side of the resistivity-low, perhaps following the limestone-mudstone contact. The exact source of the anomaly is indeterminate at this stage, however to produce such low-resistivities with associated chargeabilities is typical of graphite and / or sulfides. While no evidence of graphite has been seen in this area, anomalous gold and copper rock chip samples appear spatially related to the geophysical anomalies (Figure 2) (Figure 3). CAT is investigating this as a porphyry-diatreme copper-gold-silver target, with local highly anomalous tellurium-rich mineralization of as yet unknown origin.
Mr. Richard R. Redfern, M.S., C.P.G. No. 10717, is the qualified person as defined by National Instrument 43-101 who has examined the property on the ground, and who reviewed the geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release.
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
Chairman, President & CEO
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
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