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CAT Strategic Metals Completes Initial Airborne Geophysical Survey of Key Parts of its South Preston Uranium Project in Canada’s Prolific Athabasca Basin
VANCOUVER, BC / ACCESSWIRE / July 5, 2022 / CAT Strategic Metals Corporation (CSE:CAT) (OTC:CATTF) (FRA:8CHA) ("CAT" or the "Company") reports that, further to
About this update from Cat Strategic Metals Corporation
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / July 5, 2022 / CAT Strategic Metals Corporation (CSE:CAT) (OTC:CATTF) (FRA:8CHA) (\"CAT\" or the \"Company\") reports that, further to its news release of April 13, 2022, announcing an airborne survey on the East Preston Project in Canada's prolific Athabasca Basin, the Company has completed a detailed helicopter-borne geophysical survey over specific and carefully chosen portions of the Company's flagship South Preston Uranium Property. The project is located on the south-western margin of the Athabasca Basin approximately 35 km from the uranium deposits discovered in the Patterson Lake South area by Fission Uranium Corp. (\"Fission\" or \"FCU\") and NexGen Energy Ltd. (\"NexGen\" or \"NXE\"). CAT's just completed survey totaled 984.7 line-kilometres covering two key target areas that were identified by internationally recognized and acclaimed mining consultants, Watts, Griffis and McOuat Limited (\"WGM\") which was engaged by the Company in October, 2021 for the purpose of advising on, and managing, the exploration of the South Preston property. CAT's South Preston Uranium Project is comprised of 29,395 hectares, and shares more than 10km of the adjacent property border with NexGen, as well as 50km of contiguous claim border with Azincourt Energy Corp. (\"Azincourt\" or \"AAZ\") The target areas that were surveyed have geological similarities that offer significant potential for basement-hosted, unconformity-type uranium deposits; such as Fission's Triple R deposit and other deposits located in the eastern basin, such as Rabbit Lake. The airborne EM and magnetometer survey was focused on the probable extension of known graphitic conductors adjacent to the CAT property, some of which are associated with areas of elevated background radioactivity and radioactive boulders. One survey area covers a zone that was previously described as a graphitic shear zone containing visible uranium mineralization in outcrop. The CAT project area has never been explored in any systematic manner, and is almost entirely untouched by modern geophysical survey techniques. Recent work by Azincourt, CAT's neighbour, has identified prospective zones on its own property, which is primarily north of CAT's property, immediately northwest of the CAT South Preston Project. Prior to the most recent exploration work carried out b...