CAT STRATEGIC DEPLOYS CREW TO BEGIN GROUND GEOPHYSICAL SURVEY OF SOUTH PRESTON URANIUM PROJECT
Vancouver, BC August 9, 2022 – CAT Strategic Metals Corporation (CSE: CAT, OTC: CATTF, FRA: 8CH) (“CAT” or the “Company“) reports that, further to its news release of July 5, 2022, announcing the completion of a detailed airborne geophysical survey on the South Preston Uranium Project in Canada’s prolific Athabasca Basin, the Company has deployed an exploration team to the property in order to begin a highly anticipated exploration program.
Two field crews will be conducting a variety of activities; including prospecting with gamma-ray spectrometers for radioactive bedrock and boulders in the areas over, and adjacent to, conductors identified by the recently completed airborne EM-magnetometer survey. The crews will map and sample any bedrock encountered in the target areas.
The team will also attempt to confirm the location of radioactive boulders and bedrock reported in historical records that are part of the Company’s extensive database. The goal is to characterize these historical occurrences in terms that may provide a better understanding of the vectors toward mineralization, i.e., type of rock, size and angularity of boulders.
Additionally, bio-geochemical sampling of black spruce in the above-mentioned areas will occur using a grid approach, with profiles on a 150 metre spacing and 25 metre sample site spacing.
CAT’s South Preston Uranium Project comprises 29,395 hectares, and shares ~50km of contiguous claim border with Azincourt Energy Corp. (“Azincourt” or “AAZ“) which reported uranium enrichment within previously identified alteration zones. Azincourt recently reported the results of their 2022 Winter drill program and CAT is particularly encouraged by the results of the drilling that occurred in Azincourt’s G-Zone, which is quite close to the border of CAT’s claim block.
According to CAT CEO, Robert Rosner, “Our neighbour to the north, Azincourt Energy, recently reported highly encouraging results from its Winter drill program, and we are particularly interested in the drilling they did in the G-Zone. 9 holes were drilled in this zone that appear to be following a trend of hydrothermal alteration with each subsequent new drill hole getting closer and closer to CAT’s Claim. This suggests to us that whatever system they are encountering on their property could very well extend onto our property as well. Now that we have a crew in the field at South Preston, we are quite excited to add new information to the data-set that will be intrinsic to our future exploration activities”
As a result of the ongoing success of Azincourt’s exploration and drilling activities in the area, CAT’s management and consulting group held an informal first meeting with Azincourt’s team to discuss in general terms the potential of the area and the various exploration activities conducted in the past and present, and what the most logical next step work programs might look like on both sides of the property line.
Alex Klenman, CEO of Azincourt Energy, stated; “We are quite pleased to collaborate with the team from CAT”. Both of our companies obviously share an interest in regional exploration efforts and we feel that both companies can benefit from an ongoing, open dialogue that may be advantageous to both of our exploration plans. We are following CAT closely, as they are with us, so we’re going to develop a good working relationship that helps both CAT and Azincourt vector towards meaningful and impactful discovery.”
About CAT Strategic Metals Corporation (CAT)
CAT Strategic Metals’ corporate strategy, as reflected in its overall Mission Statement, 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 priority South Preston Uranium Project, CAT’ is focused on advancing the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets and the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper trend with multiple targets for gold-silver, copper, and tellurium. CAT’s shares trade on the Canadian Securities Exchange (CSE) under the trading symbol “CAT”, 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
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