ACCESS Newswire
03 Oct 2022, 17:26 GMT+10
VANCOUVER, BC / ACCESSWIRE / October 3, 2022 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ('CAT' or the 'Company') reports that, further to its news release of April 4, 2022, it has received and analysed the results of the diamond drill program conducted on the Company's Burntland Copper/Gold/Silver Project in northern New Brunswick.
CAT drilled 7 holes totaling 1,416 metres in an area that had been subject to a geophysical survey conducted in late summer and early fall of 2021. These 7 drill hole targets were identified following a trenching program and a 975 line-kilometre high-resolution drone magnetic survey and an additional geophysical VLF-EM, DTM and Mag survey that was completed in October.
The 2021-2022 diamond drill program began in mid-December and continued through January. All of the drill holes were located in an area that underwent significant trenching activity during the summer program and was designed to evaluate the copper mineralization intercepted in this particular area. The location of drill targets were selected as a result of an extensive review and interpretation of the historical prospecting database, and the previously identified magnetic anomaly believed to be in a skarn and hornfels zone, a favourable host rock for copper mineralization.
Assay results are set out in Table 1 and include samples from drill hole BL-21-001 to BL-22-007 which were collected on a 1m to 1.5m basis. The results are reported as an average grade over the width of the sample. Holes BL-22-005 and BL-22-006 identified that copper values at the surface were associated with the targeted high magnetic anomaly. The mineralisation was located in the skarnified Whitehead Suite (Silicified-limestone/siltstone unit) mostly associated with quartz-carbonate veins.
Other notable intercepts include the following:
Intercepts from the 7 drill holes are presented in table 1 with their respective CuEq value. * CuEq calculation are detailed and set out in the table.
The mineralisation association with quartz/carbonate veins guides the interceptions towards a more distal system. The depth of the notable intercepts suggest that there is potential for mineralisation to continue at depth over the entire target area. The results of this drill campaign, when evaluated in conjunction with the 2021 geophysical survey TMI results, have identified a further 6 high mag targets that would be the aim of further geological work on the property, which would further demonstrate the full potential of the project.
Figure 1: Localisation of the 6 High Mag Targets on the Burntland property with TMI image in background
Table 1 below lists the best assay results received and utilizes samples with over 1.0% Copper Equivalent index (CuEq). The CuEq was calculated due to the presence of significant silver and gold values associated with the copper results and was calculated using the criteria described below.
CAT CEO, Robert Rosner, stated 'These results from our initial drill program on Burntland are very interesting encouraging. The limited scope of the drilling was designed to confirm certain particulars contained in the historical database as well as substantiate the various indicators that came out of the trenching program, the high-resolution drone magnetic survey, and the geophysical VLF-EM, DTM and Mag survey. Further evaluation is required and ongoing, however the opinion of the technical team and management at this time is that further exploration work, including a potential expanded drill plan is warranted.'
Mr. Patrick Laforest, P.Geo (Québec & New-Brunswick), B.Sc, MBA, is the qualified person as defined by National Instrument 43-101 who has reviewed and approved 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 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
Robert Rosner
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.
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.
SOURCE: CAT Strategic Metals Corporation
Get a daily dose of Kansas City Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kansas City Post.
More InformationMOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...