Gravity Survey Commences At Gold Jackpot Strategic Metals Property

VANCOUVER - CAT Strategic Metals Corporation reported that it engaged Magee Geophysical Services of Reno, Nevada to complete a ground gravity survey, now in progress on its Gold Jackpot strategic metals property. Gold Jackpot is situated 30 km SE of Jackpot, Nevada and 92 km NE of Elko, Nevada. The property comprises 62 unpatented lode mining claims on BLM land totaling 1280 acres (518 hectares), in an area that was largely burned out by previous brush fires.

Gold Jackpot has 3 exploration targets for:

1) Porphyry/Diatreme copper-gold-silver bodies in the central part of the property, where strong Cu-Au-Ag mineralization is exposed at the surface. Quartz-sericite (phyllic) altered quartz-feldspar porphyry dikes were mapped and studied by R. Redfern to the south of the main porphyry/diatreme target area. Barrick took a 16 gram per tonne gold surface sample here several years ago, and one rock chip sample here by Redfern for Mexivada Mining Corp. here assayed 239 g/t silver; 4.84 g/t Au, and 339 g/t tellurium.

2) Carlin-style gold deposits of Eocene age, such as are present at the Long Canyon Mine, along a major N-S range Front fault boundary system, which intersects mineralized NE trending fault systems that extend SW to the Prince Mine. Peloton rock chip samples yielded gold assays of up to 1.2 ppm Au in Paleozoic limestones at the surface in the Gold Jackpot claims area. Strong Carlin-style decalcification of limestones is present on the adjoining Prince Mine on the Texas Canyon property, along strong NE-trending fault systems that are analogous to those similar ore-controlling structures in the Long Canyon Mine.

3) one or more possible high-grade Tellurium mineral systems cutting Paleozoic limestones. Rock chip samples containing up to 4% Tellurium were sampled from surface outcrops at Gold Jackpot. Local drillholes were completed on the property by Tenneco Minerals in 1989-1990, but the samples were rotary drill cut chips that were not assayed for copper or tellurium.

Tellurium is a strategic mineral used by First Solar Corporation in their solar panels. Gold Jackpot is one of the only prospective solar power tellurium properties in the southwestern United States. Rio Tinto just recently announced that they were going to construct and add on a tellurium recovery circuit to their Bingham Canyon mine-mill complex at Magna, Utah.

CAT also will begin a tightly-spaced drone-borne aeromagnetic survey of the Gold Jackpot property starting in May, 2021, and to be followed up by a 2-line induced polarization survey by Zonge Geosciences of Reno, Nevada in 3rdQuarter, 2021, to better define possible porphyry and Carlin-style metal systems at Gold Jackpot. A new detailed program of geologic mapping and sampling will be started.