CAT STRATEGIC RECEIVES WORK AUTHORIZATION TO CONDUCT DIAMOND DRILL PROGRAM ON BURNTLAND PROJECT IN NEW BRUNSWICK; ADDITIONAL DRILL TARGETS TO BE IDENTIFIED FOLLOWING LATEST AIRBORNE GEOPHYSICAL SURVEY.
VANCOUVER, BC November 4, 2021 CAT Strategic Metals Corporation (CSE: CAT) (“CAT” or the “Company“) announces that it has received all of the necessary governmental authorizations and permits required to begin diamond drilling on the Company’s Burntland Property in northern New Brunswick. CAT is about to proceed with a 7 hole diamond drill program to further explore and evaluate the potential volume of a trenching program that occurred over the summer of 2020.
This previous trenching identified extensive areas of skarnified sediment-hosted mineralization adjacent to porphyry dykes. The average of 27 samples collected from this trench area returned 1.67 % Cu and 39.3 g/t Ag, with samples taken selectively across approximately 60 metres of the exposed trench. The highest-grade samples from this exercise include up to 16.3 % Cu & 220.0 g/t Ag, 5.58 % Cu & 192.0 g/t Ag, and 6.2 % Cu & 118 g/t Ag. Note that rock grab samples are selective by nature and values reported may not represent the true grade or style of mineralization across the property. A historical ground magnetic survey indicates that skarn-type mineralization on the Project is often found at the margins of magnetic-high areas.
Over the summer of 2021, CAT conducted a 975 line-kilometre high-resolution drone magnetic survey that was flown at a low elevation approximately 10 metres above the tree-line and at 25 metre line spacings, covering the entirety of the Project. The magnetic survey, flown at low altitude and lower speeds compared to conventional helicopter or fixed-wing surveys, collected an abundance of data that was used to identify structural features that may be related to mineralization as well as to identify areas of magnetic disruption that may be related alteration associated with hydrothermal mineralizing fluids.
The results of the drone magnetic survey indicated that further work needed to be done and the Company engaged EAGLE Geophysique Inc. (“EAGLE”) to perform a geophysical VLF-EM, DTM and Mag survey designed to identify structures that would provide enough data to establish targets for a diamond drill program. This recently concluded survey, known as a Quadri-Mag, is the latest generation in high precision airborne equipment, and the ultra-wide horizontal and vertical gradient allows mapping of subtle changes in rock properties. The platform was towed under a helicopter for maximum ground proximity, and It’s 10 meter horizontal and 3 meter vertical gradient enable it to locate hydrothermal alteration, kimberlite dykes and sills and other geological structural features. The passive EM equipment is capable of detecting conductors at depths greater than 1 kilometer. By measuring naturally occurring EM fields (AFMAG – audio frequencies magnetics) both discrete conductors and bulk changes in resistivity and conductivity common in geologic contacts and structures can be detected.The EAGLE geophysical program consisted of a total of 970 linear Km’s over a survey area of 47.55 square Kilometers.
The combined data of the trenching geophysical programs were instrumental in identifying the initial 7 diamond drill targets and allowed the Company to engage Forages Technic Eau Inc. (“FTE”) as the contractor to undertake the diamond drill program which is scheduled to begin November 15, 2021. Further, and ongoing, study and interpretation of the most recent EAGLE geophysical survey is expected to indicate additional areas of heightened interest and result in identifying additional diamond drill targets on the property.
Mr. Patrick Laforest, P.Geo (Québec), is the qualified person as defined by National Instrument 43-101 who has reviewed and approved 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 projects and historical drilling data.
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 focused on 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”, on the OTCMarkets.com under the trading symbol “CATTF”, 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.
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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