VANCOUVER, BC / ACCESSWIRE / May 6, 2021 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") announces the following update on its Rimrock and Gold Jackpot mineral properties in Elko County, Nevada.
Rimrock Gold-Silver Property
CAT controls a 100% undivided ownership in the Rimrock mineral property, comprising 133 lode mining claims totaling approximately 1,663 acres. Rimrock adjoins and lies 4 km north of Hecla Mining Co.'s Hollister Mine and 16 Km southeast of Hecla's Midas gold-silver mine; both past-producing gold-silver mines on care-and-maintenance. Rimrock is situated directly on two of Nevada's largest gold-silver belts, the Midas and Carlin Trends. The center of the Rimrock property lies 77 km (46 mi) northwest of the major gold mining, residential, and drilling-hub city of Elko, Nevada.
CAT has just completed a 43-101 compliant technical report on Rimrock, and is about to start a new program of geological mapping and rock chip sampling, and a geophysical program of drone aerial magnetics, a ground gravity survey, and 2-line induced polarization programs on both the Rimrock and Gold Jackpot properties, beginning in May.
The Midas mine had initial ore reserves of 3 million ounces of high-grade gold and 25 million ounces of silver, in a setting very similar to Rimrock, along the Northern Nevada Rift volcanic belt. Rimrock also lies directly on the Carlin Trend, which extends through the property, northwest of the Goldstrike mines complex of Nevada Gold Mines LLC (Barrick and Newmont). Drilling exploration on Rimrock and Hollister also has found Carlin-style gold-silver mineralization, associated with the Eocene Hatter stock and possible offshoots.
Exploration, reported in CAT's new technical report, has delineated 4 target areas that may have Midas-Hollister and Carlin-style gold-silver mineralization: 1) The Eastern Horst gold-silver target of both Carlin- and Midas-Hollister styles, with good-grade silver-rich halo mineralization found close to the surface by drilling in Paleozoic sedimentary rocks underlying volcanic cover. This target is a direct extension of the same NNW-trending structural zone on the Hollister property; 2) the Western Horst target with similar mineralization; 3) the Dilation gold-silver target zone in the northern part of the Rimrock property, which has fault-controlled mercury mineralization exposed in a large, wide fault-jog structural target at the surface. The main drilling target will be in this fault jog at the 5100 foot (1555m) MSL elevation level, which was the centroid elevation of the main high-grade gold-silver ore mineralization in the Clementine/Guinevere vein systems mined at Hollister; and 4) the Columbus Breccia target in the northeastern part of the Rimrock property.
In addition to the gold-silver target areas, a large-size occurrence of bentonite is covered by the central part of CAT's claims, that overlies the gold-silver bearing strata. Bulk sampling of this deposit took place, and Halliburton examined the occurrence in the late 2000s. Further work is being done on the bentonite to determine its possible economic value.
Gold Jackpot Copper-Gold-Silver-Tellurium Property
CAT controls a 100% undivided ownership in the Gold Jackpot mineral property, comprising 62 lode mining claims totaling 1,280 acres (518 Ha). Gold Jackpot adjoins and lies 70 km north of Nevada Gold Mines LLC's Long Canyon gold mine, and is situated in the Pequop gold-porphyry copper trend, 135 km (81 mi) northeast of Elko.
Gold Jackpot has porphyry and diatreme copper-gold targets, as well as Carlin-Style gold mineralization with outcrop gold values of up to 1.2 ppm Au along a 3.5 Km length of a major range-front fault system. Strong Carlin-style acid-leach rock alteration is present in and immediately west of the property. A new program of geologic mapping and rock chip sampling will begin in May. A drone aerial magnetic survey and ground gravity surveys will be conducted on Gold jackpot in May-June, and an induced polarization survey in the 3rd quarter of 2021, concurrent with the work on the Rimrock property.
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
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.
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.
We seek safe harbour
SOURCE: CAT Strategic Metals Corporation