Exploration Update On Rimrock And Gold Jackpot Properties
VANCOUVER - CAT Strategic Metals Corporation reported on the Rimrock Au-Ag property in which it has completed the geological mapping and sampling at Rimrock. Drone magnetics, ground gravity and Induced Polarization (IP) surveys also were completed, and are being interpreted by CAT's consulting geophysicist. Six additional lode mining claims were staked and filed on newly-discovered gold-silver targets. Final interpretations are being completed.
Several gold-silver targets were outlined by this work, and detailed cross sections are being prepared in order to fine-tune and prioritize the drilling targets. In the next phase of exploration at Rimrock, CAT will be drill testing target areas for Midas-Hollister Mine-type epithermal gold-silver, as well as new target areas for older, Carlin-age gold mineralization. Shallow-depth silver-(gold) targets are also present, as indicated by drilling in 2007, perhaps associated with "Hatter"-age (approximately 39 Ma) granitic bodies of Eocene age. Many of the more important fault zones at Rimrock are interpreted to have been reactivated over time and different events of mineralization, perhaps on top of each other.
A program of exploration drilling is now being formulated, and these sites will be permitted with the State and federal Bureau of Land Management (BLM) for drilling. Drill permitting is usually efficient in Elko County with federal and
CAT geologists are currently conducting fresh mapping and sampling at Gold Jackpot, and expect to have it completed by the end of August with data inputted into a computerized GIS system. Substantial evidence of jasperoid-associated Carlin-style gold mineralization has recently been discovered, along with previously found evidence of a possible diatreme-porphyry copper-gold-silver system, and a later superimposed high-grade tellurium-bearing system. Mapping of these mineralization-alteration features is ongoing.
Drone magnetic and ground gravity surveys were completed. Two IP lines were completed as well; one atop the diatreme-porphyry target, and one atop the northern part of the Carlin-style gold target area, where a 1.2 gram per tonne gold in rock chip sample was taken previously by Gold Reef International. CAT will complete the final interpretations in September following which initial drill targets will be selected. Paving the way for permitting with the BLM and State.
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 who reviewed the geological information available from public sources related to the property.