MOUNT PEARL, NF / ACCESSWIRE / April 27, 2015 / KAT Exploration, Inc. (PINKSHEETS: KATX) ("KATX") is pleased to announce its purchase of the HANCOCK gold mines Deming New Mexico.
One of the largest and certainly the most productive gold and silver mine of the Tres Hermanas mining district, consisting of a collection of mines.
The mine shafts are interconnected underground with a series of drifts and raises.
There are 3 primary shafts that are all cut on the same lode and then the last, open shaft has a short drop to where it intercepts with the underground drifts. The head frame at the main portal would facilitate the dragging of the cars through the mine and out to the waiting separation piles.
The HANCOCK mine is located approximately an hour's drive south of Deming, New Mexico.
The tailings are very distinct in their colors. Dark iron stained rock and substantial quartz are mixed with some galena ore. There is a large high grade tailings pile at the main portal containing very impressive gold ore that can be seen running along the quartz body.
The surveyors reported clean, open shafts with substantial reserves noted in the shafts above the main portal. There is still much value in this mine in that gold can be seen with the naked eye. This gold can be crushed and panned or sluiced out for easy gold recovery. The galena and silver can be shipped to various smelters in the area for processing.
The Bisbee branch of the El Paso & Southwestern railroad passes within several miles of the properties. This group of mines has been developed by upwards of 600 feet of shafts and 200 feet of drift work.
At the bottom of a sixty foot shaft there is exposed a 26 Inch ore body that runs 55 ounces silver, 15% lead, 8.8% copper and .32 ounces of gold.
In another shaft, 144 feet in depth, the 8 inch streak at the surface has widened to nineteen and one half inches, with an average of .42 ounces of gold, besides silver, lead and copper.
Further updates will be made available as we proceed with our next phase of work.
This is the second of our two mines in the state of New Mexico and we are excited to begin the process of reawakening these mines and generate revenues for the company. Just has our RED HILL mine so to the HANCOCK gold mine contains a large stock pile of tailings that will become the early focus of our work.
Further information and photos can be viewed on the company website.
Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Kat Exploration Inc. to be materially different from the statements made herein.
Contact:
Ken Stead - President/CEO
Kat Exploration Inc.
Website: www.katexploration.com
Email: kstead@katexploration.com
SOURCE: Kat Exploration Inc.