Business
CAT Strategic Metals Announces Imminent Start to Contracted Heli-borne AEM Survey of its South Preston Uranium Project in the Athabasca Basin
VANCOUVER, BC / ACCESSWIRE / April 13, 2022 / CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") is pleased to advise that further to its news
About this update from Cat Strategic Metals Corporation
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / April 13, 2022 / CAT Strategic Metals Corporation (CSE:CAT) (\"CAT\" or the \"Company\") is pleased to advise that further to its news release of April 4, 2022, the Company has signed an agreement with Balch Exploration Consultants (\"BECI\") of Mississauga, Ontario, to carry out an approximate 1,000 line-kilometre detailed helicopter-borne geophysical survey. This survey will cover two key portions of the Company's flagship South Preston Uranium Property, which is located on the southwestern margin of the Athabasca Basin, approximately 35 km from the Fission Uranium Corp.(\"FCU\") and NexGen Energy Ltd. (\"NXE\") uranium deposits in the Patterson Lake South area. CAT's property lies adjacent to, and directly on-strike with, EM conductors attributed to graphitic metasediments recently discovered less than a kilometre away by Azincourt Energy Corp. (\"AAZ\") as well as historical conductors that were discovered in the 1970s by Denison Mines. The combined airborne EM and magnetometer survey scheduled for completion in May using the advanced AirTEM system will explore areas not previously surveyed by EM and only partially covered by historical reconnaissance-level radiometric surveying. This geophysical survey forms part of an integrated, multi-stage exploration program being managed for CAT by well-known exploration consultants Watt, Griffis and McOuat Limited (\"WGM\"), who were engaged in October, 2021 for the purpose of evaluating and exploring the South Preston property for economically viable uranium mineralization. WGM's comprehensive review of historical reports, completed in January, revealed that the South Preston property covered geological terrane just south of the margin of the southern Athabasca Basin generally comparable to the Patterson Lake South area. It also revealed the presence of untested zones of anomalous radioactivity in bedrock and the occurrence of uranium mineralization at one site associated with sheared graphitic metasedimentary rocks. These historical reports made little or no mention of follow-up exploration in these areas which lie adjacent to the current Athabasca unconformity. WGM concluded that the minimal follow-up exploration in the 1970s and 1980s was due to the absence of sandstone cover which was assumed at the time to be a vital component of the geological mode...