CAT Strategic Metals Continues to Stake More Claims Around Emerging Lithium Discovery Area in Elko County, Nevada, and its Primary Property, Gold Jackpot
- Increased Land Position Now Exceeds 132 Claims and totals 2,747 acres
- New Claims Are in Highly Advantageous Positions
VANCOUVER, BC / June 23, 2023 / CAT Strategic Metals Corporation (CSE:CAT) (OTC PINK:CATTF) (FRA:8CH) ("CAT" or the "Company") announces that, further to its news release of June 8, 2023, the Company has continued to stake claims adjacent to, and around, its Gold Jackpot property located NE of Elko, Nevada. This ongoing claim staking activity is the result of the recent discovery of highly anomalous lithium values reported by Surge Battery Metals Inc. ("Surge") on its Nevada North Lithium Project, located only ~1.5 miles from Gold Jackpot.
ADDITIONAL NEW CLAIMS STAKED
CAT deployed a third consulting geologist to the property this past week to continue the staking activity initially undertaken by Rick Redfern and Patrick Laforest at the beginning of June. This intensive ground work has resulted in CAT staking a further sixty (60) claims to the east and west of the Company's existing claim block. This claim staking program has increased CAT's landholdings to 133 claims, which now totals 2,747 acres, or 1,112 hectares.
GOLD JACKPOT MINERALIZATION
Additional rock chip samples were taken by Redfern and Laforest, during their most recent claim staking, of multi-phase Cu-Au-Ag-Te-Mo mineralization at Stag's Leap and were submitted to the ALS laboratory in Elko. Widespread distribution of copper mineralization over an 800 by 2700-plus meter area at Stag's Leap suggests a possible early porphyry/diatreme copper-gold-molybdenum system at depth. This appears to have been overprinted by a later gold-tellurium system. A possible, still later, Carlin-style gold system is suggested by auriferous, acid-leached ("sanded") Paleozoic carbonate rocks in a NE-trending fault zone at the Prince uranium mine which is 1.8 Km southwest of Stag's Leap. The uranium appears to have originated from the Opal Spring Caldera system (~11 Ma?), whose youngest rhyolitic dome rocks are highly-enriched in uranium. The lithium is the most recent event (~10 Ma) of mineralization in the property area.
CAT CEO, Robert Rosner, stated that "The Gold Jackpot Property has been determined by our geologist, Rick Redfern, to be part of the same lithology and geological structure that occurs on the Surge property. It should also be noted that Mr. Redfern's knowledge of this structure goes back many years, predating the discovery by Surge of lithium, and his enthusiasm for Gold Jackpot has expanded significantly with our focus on lithium in the discovery area".
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 wrote a Master's thesis on the Prince Mine area, and reviewed the geological information available from public sources related to the property and is responsible for approving the technical contents of this press release. Mr. Redfern
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 lithium, tellurium, gold, silver and copper. In addition to the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper-lithium trend with multiple targets for gold-silver, copper, tellurium , and potential lithium, CAT has the South Preston Uranium Project in the Athabasca Basin of Saskatchewan, 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. 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.