CAT Strategic Metals Corporation announces the following update on its Rimrock Gold-Silver mineral property in Elko County, NevadaRimrock Gold-Silver PropertyCAT has completed and filed its new NI 43-101 compliant technical report on the Rimrock Gold-Silver property, produced by Gregory C. Ferdock, Certified Professional Geologist and a qualified person under NI 43-101. Mr. Ferdock is the Company’s independent …
CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) (“CAT” or the “Company”) announces the following update on its Rimrock Gold-Silver mineral property in Elko County, Nevada
Rimrock Gold-Silver Property
CAT has completed and filed its new NI 43-101 compliant technical report on the Rimrock Gold-Silver property, produced by Gregory C. Ferdock, Certified Professional Geologist (C.P.G.) and a qualified person under NI 43-101. Mr. Ferdock is the Company’s independent consulting geologist.
The Rimrock Property is situated 16 Km northwest of the giant Goldstrike Mine complex of Nevada Gold Mines LLC. Rimrock lies in between the large Midas and Hollister gold-silver mines of Miocene age, owned by Hecla Mining, in the Northern Nevada Rift (“NNR”) low-sulfidation gold-silver province. In addition, Carlin Trend sediment-hosted gold mineralization extends directly through the Rimrock property from Hollister, along the NNW-trending Eastern Horst block. Fluids related to the Eocene Hatter stock mineralized Paleozoic sedimentary rocks at Hollister, and CAT interprets that similar gold-silver mineralization occurs at Rimrock, along the major regional fault system that goes through both Rimrock and the Hollister Mine.
Three main gold-silver target areas are presently known at Rimrock, and a large-size bentonite mine target locally overlies the gold-silver mineralization.
Ivanhoe Creek: Midas- and Carlin-style gold-silver. Two large NNW-trending uplifted host fault blocks are interpreted to have formed prior to the time of Carlin-age age gold, and then were re-activated at the time of the mineralization. WNW-trending faults also existed at Hollister. A zone of strong sediment-hosted silver-gold mineralization was drilled into the Eastern Horst faults area in 2007 for Kent Exploration, discovering possibly disseminated Carlin-age silver-gold-tungsten mineralization in mudstone and quartzitic sandstones, fed through the main NNW-trending fault zones. This mineralization conceivably could be a silver-rich halo above Carlin-style gold mineralization at further depth, along the periphery of the Hatter stock system. Additional Miocene low-sulfidation gold-silver mineralization appears to be present here also, as determined by geochemistry.
Dilation: Midas-Hollister-style low-sulfidation gold-silver targets are present along the NNE-trending IC Fault system in the northern part of the Rimrock property. Structurally-controlled mercury-bearing mineralization is present in and near the IC Fault, which is believed to also be a pre-Carlin age structure that was reactivated and host to different events of mineralization. A large fault jog is present, here termed the “Rhombochasm” zone. This is over 200 meters wide and 1 km long, forming a major structural target for gold-silver mineralization. A controlled-source audio magnetotelluric (“CSAMT”) geophysical survey conducted here in 2013 verified the target zone. The most likely drilling target will be in this fault jog at the 5100-foot (1555m) MSL elevation level, which was the centroid elevation of the main high-grade gold-silver ore mineralization in the Clementine/Guinevere vein systems mined at Hollister. Potential exists for the discovery of open pitable gold-silver mineralization here as well.
Columbus Breccia: the Columbus Breccia target in the northeastern part of the Rimrock property is a brecciated zone that cuts flow domes of Columbus Rhyolite (14.92 Ma), with silica and mercury-silica mineralization locally filling fractures and breccias.
These gold-silver targets will be evaluated by more surface mapping and sampling will be conducted here prior to modeling and further drilling.
- IC Bentonite: In addition to the gold-silver target areas, a large-size occurrence of bentonite is covered by the central part of CAT’s claims, that overlies the gold-silver bearing strata. Bulk sampling of this deposit took place in the 1980s, and Halliburton examined the occurrence in the late 2000s. Further work is being done on the bentonite to determine its possible economic value.
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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