CAT STRATEGIC METALS EXPANDS ITS MINERAL EXPLORATION FOOTPRINT IN NEVADA’S PROLIFIC CARLIN TREND DISTRICT
Vancouver, B.C. February 23, 2021 – CAT Strategic Metals Corporation (CSE: CAT) (FRA:8CH) (“CAT” or the “Company”) is pleased to announce that it has expanded the size of the Rimrock mineral property (“Property”) by staking 64 new unpatented lode claims on gold-silver targets, and on a large Bentonite mine target, and expanding upon existing Carlin- and Midas Epithermal-style gold-silver targets within the Property. A new, previously undiscovered epithermal breccia gold-silver target was found during the staking, in the north-central part of the property area. A total of 133 unpatented lode claims now comprise the Property, totaling 1,112 hectares (2747 acres) in size.
The Rimrock Gold Property
The Rimrock Gold mineral property is a low-sulfidation epithermal and Carlin-style sediment hosted gold-silver exploration project in the heart of the main gold mining belts of northeastern Nevada. Rimrock comprises 133 unpatented lode mining claims located in Elko County, Nevada, situated 3 Km north of the Hollister gold-silver mine of Hecla Mining, and 15 Km southeast of Hecla’s Midas gold-silver mine. The Hollister Mine had production and initial reported reserves of approximately 2 million ounces of high-grade gold grading in excess of 1.3 ounces per ton gold, situated below an old mercury mine, as open pitable and underground gold-silver ores. The Midas mine had initial mineable ore reserves of 3 million ounces of high-grade gold and 25 million ounces of silver, in a setting very similar to Rimrock, along the Northern Nevada Rift volcanic belt. Rimrock also lies directly within the Carlin Trend, which extends through the property, northwest of the Goldstrike-Carlin-Leeville mines complex of Nevada Gold Mines LLC (Barrick and Newmont). The center of the property lies 77 km (46 miles) northwest of the major mining and mine exploration drilling center of Elko.
The Rimrock project currently consists of three main Au-Ag ore targets: 1) the “Dilation” zone in the northern part of the property, 2) the “Breccia” Target in the north-central part, and 3) the “Ivanhoe Creek” target in the southern part. Several old mercury mines are present in the area, with one situated directly on top of the main “Rhombochasm” gold ore target along the Dilation zone. It lies at a major fault dilation intersection in the Midas gold trend. These Rimrock gold-silver targets have never been properly drill tested for Midas-Hollister style gold-silver mineralization, and not deep enough to test the Carlin-style targets present. The approximate centroid elevation of the main ores at Hollister is the 5100 foot elevation level, and this is CAT’s main target depth.
Consultants to the Company just discovered the new, third Breccia area of mineralized, brecciated rhyolite during the new claimstaking effort, elucidating a new, structurally-hosted epithermal gold-silver target. New geologic mapping and geochemical sampling and assaying
will begin as soon as snow on the Property has melted down further.
Two new lines of Induced Polarization geophysics are contemplated on the property in order to better define both the Midas- and Carlin-style gold-silver potentials. The possibility of the latter being present in an untested domal structure is quite exciting. The epithermal Midas-Hollister type gold-silver targets at Dilation, Breccia, and Ivanhoe Creek likely would occur at 300-400 meter depths below the surface. Overall, the Rimrock property offers exciting targets for new gold-silver mineralization.
CAT’s new effort also staked most of the bounds of a large, strong bentonite deposit on the Rimrock Property. This area of bentonite mineralization was studied and staked by Kent Exploration and examined by Halliburton in the mid-2000s. The bentonite occurrence is bounded on the west side by claims owned by McEwen Mining Inc., and on the south by Hecla Mining Company, the owner of the Hollister and Midas mines.
Robert Rosner, CAT’s Chairman and CEO, stated, “Nevada is known for its great mineral potential and world class deposits. We are pleased to be expanding the size of our strategically well-located Rimrock, Nevada property, and look forward to completing additional work to unlock its full potential.”
The Company has started and anticipates completing a 43-101 Technical Report on the Rimrock gold-silver property before the end of March.
Mr. Richard R. Redfern, C.P.G. No. 10717), is the qualified person as defined by National Instrument 43-101 who has examined and reviewed the 2009 NI 43-101 report and geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regard to the neighbouring Hollister Au-Ag mine deposit.
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 interested in 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”, and on the Frankfurt Stock Exchange under the symbol “8CH”.
ON BEHALF OF THE BOARD
Chairman, President & CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting the Company’s website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.
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.
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