CAT STRATEGIC METALS STAKES NEW CLAIMS EXPANDING THE GOLD JACKPOT MINERAL PROPERTY, NEVADA
Vancouver, BC February 2, 2021 CAT Strategic Metals Corporation (CSE: CAT) (“CAT” or the “Company“) announces that it has expanded the size of the Gold Jackpot mineral property (“Property”) by staking more unpatented lode claims on a new Carlin- or porphyry-style gold-silver target within the Property. The 64 unpatented lode claims comprising the Property, totaling 535 hectares in size, are located 35 Km southeast of Jackpot, Nevada, in the Pequop gold-silver-copper Trend. It is adjacent to the eastern boundary of the Texas Canyon Carlin-style gold prospect of Peloton Minerals. CAT also has begun a compilation and interpretation of geophysical data that were performed or acquired by 3rd parties in the past.
The Gold Jackpot Au-Ag-Te-Cu Property
Gold Jackpot strategic metals property is in a highly mineralized region and has multiple outcrops that assayed high-grade silver, gold, and tellurium. It has exploration targets for each of these metals. Outcrops showing high-grade silver to 239 grams per tonne (g/t) Ag (7.6 oz/ton Ag) are present on the Property, with local high-grade gold to 16 g/t Au as well. High-grade outcrops of Tellurium-bearing rock (to 4 kg/t) also are present, and Tellurium is a key component in the solar panels of NYSE-listed First Solar Corporation.
CAT staked a newly-discovered gold-silver-bearing jasperoid target area that CAT will sample, evaluate and fit into the big metallogenic picture at Gold Jackpot. It occurs in brecciated Paleozoic sedimentary rocks and could be of Carlin-style or related to the upper part of a porphyry copper-gold-silver system.
Gold Jackpot has 3 different types of targets on the Property: 1) “Stag’s Leap”: a 6 Km long, fault-controlled block of Paleozoic rocks along a major regional range front fault system, with surface rock chip samples that assayed up to 239 g/t silver and to 16 g/t gold. Gold Fields and Tenneco drilled 27 shallow reverse-circulation drillholes to test for open-pitable gold mineralization, but tested only a small portion of the target area. CAT has some Tenneco maps and sections, but no Gold Fields data; 2) a porphyry copper-gold target system that could be overlain by a diatreme copper-gold-silver system that has invaded the surface parts of a wide, major NE-trending fault system. Dikes of quartz- feldspar porphyry crop out at Gold Jackpot at the surface, suggestive of a porphyry system at depth, with a fault-controlled copper-silver-gold diatreme zone lying above a porphyry; and 3) a tellurium-(gold-silver) system whose outcrops have yielded analyses of up to 4 kg/ton tellurium.
2021 Exploration Strategy
The Company is compiling the Gold Jackpot data sets into a 3-D GIS database that can be evaluated by sophisticated computer modeling. The geophysical data sets are being reviewed and interpreted by Wright Geophysics of Spring Creek, Nevada. This data will be incorporated and form part of an NI 43-101 Technical Report expected to be delivered during this quarter. CAT’s technical team is currently designing exploration models of the silver, gold, copper, and tellurium-bearing mineral systems present in order to rapidly advance the project. The Company will be conducting additional airborne and ground based geophysical surveys, geologic and structural maping as well as geochemical sampling and assaying to further assist in defining high priority drill targets.
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 of the Texas Canyon area by Criss Capps, C.P.G., and geological information available from public sources related to the property and the area, 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 neighboring gold-silver properties of Peloton Minerals.
About CAT Strategic Metals Corporation:
CAT Strategic Metals’ overall Mission Statement and corporate strategy is to source, identify, acquire and advance property interests located in mineral districts proven to have world class potential, primarily for gold, silver and copper. The Rimrock Gold mineral property is a low-sulfidation and Carlin-style gold-silver prospect in the heart of the main Carlin Trend and Northern Nevada Rift gold-silver mining belts of northeastern Nevada. The Company’s copper- silver-gold Burntland Project is located northeast of Saint Quentin in the county of Restigouche, New Brunswick, Canada. 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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