- Increased Land Position in Known Lithium Discovery Area
- Lithium and Tellurium Exploration Planning Underway
VANCOUVER, BC / ACCESSWIRE / June 8, 2023 / CAT Strategic Metals Corporation (CSE:CAT) (OTC PINK:CATTF) (FRA:8CH) (“CAT” or the “Company“) reveals that speaking with geologists Rick Redfern and Patrick Laforest are on-site carrying out deal with the Company’s Gold Jackpot property situated NE of Elko, Nevada. The recent discovery of extremely anomalous lithium worths reported by Surge Battery Metals Inc. (“Surge“) on its Nevada North Lithium Project, situated just ~1.5 miles from Gold Jackpot, has actually triggered CAT management to move the Company’s main focus to lithium and tellurium expedition activities on the Nevada property.
BRAND-NEW DECLARES STAKED
As an outcome of this shift in focus, CAT has actually staked a more 12 claims to the west of its existing claim block, increasing the Company’s land holdings to 1508 acres (610 hectares). The geological setting underlying the freshly staked claims is believed to be an extension of the system on Gold Jackpot that reveals the exact same late N-S faulting – as reported by Surge – that might have functioned as traps, or feeder faults, for the development of lithium deposits. Alternatively, these N-S faults might have been hydrothermal vent structures that fed volcanic-related hydrothermal lithium-rich fluids up from depth. If this is verified to be the exact same, or comparable, geological setting in which Surge reported its lithium discovery, then CAT has actually included significant worth to its investors and increased the possibility of finding a substantial lithium discovery of its own.
GOLD PRIZE MINERALIZATION
Gold Jackpot has actually had significant historic expedition finished from the 1980’s to early 2000’s, which was mainly concentrated on marking a location of gold-silver-copper mineralization however was never ever checked out for lithium particularly. However, the most recent evaluation by CAT consulting geologist, Rick Redfern, of rock chip tasting consisted of in the database recognized 6 samples with unforeseen extremely anomalous worths of lithium; as much as 158.5 ppm. These chip samples – which were gathered as part of previous local gold expedition activities – show the unforeseen strong capacity for a lithium discovery for CAT, provided what Surge has actually found on its property. Other extra historical assay outcomes returned gold worths as much as 4.84 g/t, silver worths of as much as 239 g/t, and tellurium worths of as much as 339 g/t. Tellurium is intriguing due to the fact that it is among the least typical aspects on Earth. Most rocks consist of approximately about 3 parts per billion tellurium, making it rarer than the uncommon earth aspects and 8 times less plentiful than gold (source: USGS) and is utilized mainly in the photovoltaic panel market.
Further analysis of the available Gold Jackpot database revealed that from 1988-1990, Tenneco Minerals taken part in numerous expedition and tasting activities that consisted of a 28-hole reverse flow drilling program. These holes were mainly extremely shallow, +/- 100 metres, and were developed to test for open-pitable gold and silver consisted of in highly transformed Paleozoic host rocks in a location right in the middle of the property. Following this drill program Tenneco abandoned the job and the location is now referred to as the Stag’s Leap Porphyry-Diatreme Target, which was recognized as such by Mr. Redfern.
GOLD PRIZE EXPEDITION
In addition to staking brand-new ground nearby to CAT’s existing claim blocks, the geological group is carrying out a reconnaissance of the most appealing locations where positive and motivating outcomes were formerly reported. This study is the structure of CAT’s next phase expedition work program and will contribute in producing an NI 43-101 Technical Report as formerly mentioned.
Next phase expedition activities are anticipated to consist of a conciliation of the historic information of the property with an objective of expanding the prospecting objective of the freshly included Lithium capacity. Following this additional evaluation, the Company will have the ability to create extra prospecting targets that will make it possible for the geological group to go back to the property over the summertime to perform additional expedition. In the field, the geologist’s main objective is to recognize the prospective lithium bearing horizon, in addition to gathering extra structural information to concentrate on producing extra drilling targets. This continuous field go to is a requirement to the launch of a summer season work program.
Mr. Richard R. Redfern, M.S., C.P.G. No. 10717, is the certified individual as specified by National Instrument 43-101 who has actually analyzed the property on the ground, and who evaluated the geological info available from public sources associated with the property and is accountable for authorizing the technical contents of this news release.
About CAT Strategic Metals Corporation (CAT)
CAT Strategic Metals’ business method, as shown in its general Mission Statement, is to source, recognize, obtain and advance property interests situated in mineral districts shown to have first-rate capacity, mainly lithium, tellurium, gold, silver and copper. In addition to the Gold Jackpot tactical metals property situated NE of Elko, Nevada, in the Pequop gold-copper-lithium pattern with numerous targets for gold-silver, copper, tellurium , and prospective lithium, CAT has the South Preston Uranium Project in the Athabasca Basin of Saskatchewan, the Burntland Project situated northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the expedition and advancement of a number of Skarn-hosted copper-silver, gold targets. CAT’s shares trade on the Canadian Securities Exchange (CSE) under the trading sign “CAT”, and on the Frankfurt Stock Exchange under the sign “8CH”.
ON BEHALF OF THE BOARD
Robert Rosner
Chairman, President & CEO
Further info concerning the Company can be discovered on SEDAR at www.SEDAR.com, by checking out the Company’s website www.catstrategic.com or by calling the Company straight at (604) 674-3145.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is specified in policies of the Canadian Securities Exchange) accepts obligation for the adequacy or precision of this release.
We look for safe harbour.
