Sep 21, 2022 (ACCESSWIRE via COMTEX) -- VANCOUVER, BC / ACCESSWIRE / September 21, 2022 / CAT Strategic Metals Corporation /zigman2/quotes/207109431/delayed CA:CAT 0.00% (otc pink:CATTF)(fra:8CH) ("CAT" or the "Company") reports that, further to its news release of August 9 [th] , 2022 announcing the completion of airborne geophysical surveys over portions of its South Preston Uranium Project in Canada's prolific Athabasca Basin, the Company has completed reconnaissance ground follow-up bio-geochemical surveying and geological prospecting over anomalies detected in the geophysical survey.
The geophysical work consisted of magnetic and electromagnetic surveying and several NE-trending conductive zones were detected that are localized on the boundaries between contrasting (high-low) magnetic domains. Conductors such as these have been associated with graphite-bearing shear zones that are important hosts to uranium mineralization in the Athabasca Basin. One of these conductive zones is contiguous with the zone currently being drill-tested by Azincourt immediately to the northeast and just over the property boundary. Another north-trending conductor was detected in the general vicinity of uranium mineralization reported by Denison Mines in 1970, however the mineral occurrence could not be located during this field program.
CAT's follow-up exploration, carried out under the management of Watts, Griffis and McOuat Ltd. ("WGM") during August and early September, consisted of vegetation sampling and prosecting for outcrops of bedrock spatially associated with the conductive zones. Two 2-man field crews were deployed, one crew focused exclusively on the bio-geochemical sampling while the other focused on bedrock examinations and sampling. In practical terms, however, the two crews worked very closely with each other to simplify helicopter support and because the focus of the work involved the same conductive zones.
The sampling of black spruce and jack pine vegetation was carried out on profiles spaced at 150-metre or 200-metre intervals crossing the conductive zones. Samples were spaced at a 25-metre interval over the central portions of the conductive zones, and increased to 50-metre intervals on the shoulders of the zones. The outer fringes were sampled using a 100-metre interval. A total of 38 profiles were sampled, ranging from 500-metre to 1,000-metres in length, and on which 718 samples were collected. Approximately one sample in every twenty was a duplicate taken for quality control purposes and to assess site variability. Sample locations were measured to within 2-3 metre accuracy by Garmin GPSMAP 64SX GPS instruments. At each site, the ambient levels of radiation were measured using a Radiation Solutions RS-125 spectrometer which gave 4-channel gamma ray measurements for K, U, Th and total count. Any anomalous radiation, for example from boulders, was also measured. The RS-125 spectrometer was also used to continuously record gamma-ray activity along the profile line, with spatial control being provided by the location and time that each biogeochemical sample was collected.
Simultaneously with the geochemical sampling, the profiles were prospected for bedrock exposures. The location of the bedrock was measured by GPS and the ambient levels of radiation were measured using an aforementioned RS-125 spectrometer. Both background and peak gamma-ray activities were recorded for any outcrop and detailed notes were made at every outcrop. A representative suite of 81 rock samples was collected including 3 duplicates for quality control purposes.
All samples are currently being analysed at the Saskatchewan Research Council's Geolab using conventional sample preparation and analysing techniques. Due to high levels of exploration activity nationwide, extended turn-around times of approximately 6 weeks are being forecast by industry laboratories including the SRC.
WGM commented that "The geophysical survey results are very encouraging. Our surface exploration confirmed the location of a major conductive zone beneath a drainage system that follows a very strong NE-trending structural lineament. Similar lineaments are closely associated with uranium deposits in much of the Athabasca Basin, and WGM's view of the uranium potential of the CAT project is very high. The next step will be to follow up geochemical anomalies associated with the conductors, and a radon lake water and bottom sediment sampling program will most likely be included as part of the next phase of groundwork planned for the coming fall/winter season".
CAT's South Preston Uranium Project comprises 29,395 hectares, and shares ~50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ") which reported uranium enrichment within previously identified alteration zones. Azincourt recently reported the results of their 2022 Winter drill program and CAT is particularly encouraged by the results of the recent drilling that occurred in Azincourt's G-Zone, which is quite close to the border of CAT's claim block.
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 for gold and copper. In addition to the priority South Preston Uranium Project, CAT' is focused on advancing 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 and the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper trend with multiple targets for gold-silver, copper, and tellurium. 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
Chairman, President & CEO
This news release has been reviewed for accuracy by Watts, Griffis and McOuat Ltd. ("WGM") of Toronto, Ontario, Canada. This 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
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