CAT STRATEGIC FILES 32 LODE CLAIMS AT JACKPOT LITHIUM; ADDITIONAL SAMPLING AND RESULTS RECEIVED FOR STAG’S LEAP NORTHERN ELKO COUNTY, NEVADA
- 32 Key Lode Mining Claims Filed and Recorded with BLM
- More Lithium Claims Staked and Sampling at Jackpot
- More Sample Results Received validating Porphyry-Diatreme Cu-Au Model
Vancouver, BC September 13, 2023 – CAT Strategic Metals Corporation (CSE: CAT, OTC: CATTF, FRA: 8CH) (“CAT” or the “Company“) is pleased to provide an activity update on its Jackpot Lithium and Gold Jackpot Properties located in northeastern Elko County, Nevada, near the Surge Discovery.
32 LITHIUM CLAIMS FILED WITH BLM RENO OFFICE
Lithium Claims: CAT filed 32 of its new Lithium-target lode claims with the BLM Reno, Nevada office on August 25, 2023. These claims were properly staked on what CAT interprets to have been open ground for CAT by Certified Professional Geologists and Qualified Persons, one of whom is independent of CAT and is an Expert Witness for the determination of validity of unpatented lode mining claims. The BLM file numbers for these claims are NV106317198 through NV106317227. These 32 new lode claims cover 661 acres (267.5 hectares) of a possible eastern extension of the lithium-bearing tuff sequence that is being explored by Surge Battery Metals (“Surge”; see map). These rocks and overlying sediments were mapped and studied as part of a Master’s Thesis by Richard R. Redfern, M.S. (UCLA) and QP, one of CAT’s consultants and Qualified Persons.
In addition, CAT staked six (6) new lode claims for lithium in the NW part of its work area, contiguous with its existing Jackpot Lithium claims, and 3 more claims contiguous to the SW. The northern claims are along the northern boundary of the Opal Springs rhyolite flow dome-(caldera?), which post-dates the Jarbidge Rhyolite. The Jarbidge Rhyolite is of a similar age as the rocks of the McDermitt sequence that holds the giant Thacker Pass lithium deposit.
The host rocks for lithium deposits in this Jackpot region, which may extend over an area of more than 40 square miles (10,360 hectares), are hosted by the eastern equivalent of the Humboldt Formation (Ts3) sedimentary and tuffaceous rocks of suggested “late to very late Miocene age” by Coats (1987), post-dating the Jarbidge Rhyolite. The source of the lithium may be lithium-rich volcanically-derived Opal Spring hydrothermal fluids that were fed upward into the overlying sediments and poorly-lithified sedimentary rocks along northerly-, northeasterly-, and northwesterly-trending feeder faults.
The Idavada Volcanics (Tts) tuffites-ignimbrites-sediments overlie the Jarbidge Rhyolite and Humboldt Formation sequences on the north side of the Opal Springs Fault. Previous geologic mapping by Coats shows the Opal Springs fault going through the area of CAT’s new northern claims. CAT is investigating if it was a feeder fault for lithium mineralizing hydrothermal fluids.
Figure 1 below shows CATs original claim block in blue and its 41 new claims in red. It also shows CAT’s claims in relation to the approximate claim locations of Gli, Surge and Peloton Minerals Corporation, the Company’s neighbours in what is considered to be a new and emerging lithium discovery area.
GOLD JACKPOT PORPHYRY-DIATREME EXPLORATION PROGRAM
CAT received additional regular- and screen-fire bulk sample assays from samples taken from the Stag’s Leap porphyry (“PCD”) and diatreme exploration target on its Gold Jackpot claims. These surface samples contained local elevated gold, copper, tellurium, and lead to in excess of 0.4% Pb. The geochemically-anomalous areas are shown in Figures 2, 3, 4, and 5 for the outline of this previously-identified (in 2009) zone of widespread surface mineralization. North is up on these figures, and the grid boxes are 500 by 500 meters each.
It is interpreted that the high Pb and Zn values are indicative of a Pb-Zn halo above a PCD/Diatreme intrusive-related body containing Cu-Au-Ag-Te mineralization. Sericitized, pyritic quartz-feldspar porphyry dikes are present immediately to the south of this highly mineralized area. The widespread high copper and gold values over a wide area atop this target could mean that a body of PCD/Diatreme mineralization could be present at a shallower depth than previously thought. An IP survey atop this target by Zonge Geosciences for CAT showed an anomalous zone of electrical conductivity at an undetermined depth. This promising target has never yet been tested at depth by drilling.
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 wrote a Master’s thesis on the Opal Springs area to the east and northeast of Surge Battery Metals’ lithium discovery, 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)
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 lithium, tellurium, gold, silver and copper. In addition to the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper-lithium trend with multiple targets for gold-silver, copper, tellurium, and potential lithium, CAT has the South Preston Uranium Project in the Athabasca Basin of Saskatchewan, 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. 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
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.