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CAT Strategic Metals Enters into Exclusive Option Agreement to Acquire a 100% Undivided Interest in Gold Jackpot Mineral Property
VANCOUVER, BC / ACCESSWIRE / January 28, 2021 / CAT Strategic Metals Corporation (CSE:CAT) ("CAT" or the "Company") announces that it has entered into an explor
About this update from Cat Strategic Metals Corporation
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / January 28, 2021 / CAT Strategic Metals Corporation (CSE:CAT) (\"CAT\" or the \"Company\") announces that it has entered into an exploration and option agreement (\"Agreement\") pursuant to an arm's length negotiation with the vendor (\"Vendor\") dated January 21, 2021. Agreement gives the Company exclusive right to acquire a 100% undivided ownership in the Gold Jackpot mineral property (\"Property\") over a 4-year period from the effective date. The unpatented lode claims of the Property are located 35 Km southeast of Jackpot and 135 Km. NE of Elko, Nevada, in the Pequop gold-copper Trend (see Fig. 1). The Gold Jackpot Property The Gold Jackpot strategic metals property is in a highly mineralized region and has multiple exploration targets for gold-silver, copper, and tellurium. It lies 105 Km north of the Long Canyon Carlin-style gold mine of Nevada Gold Ventures LLC, 23 Km southeast of the pre-feasibility stage Contact bulk-tonnage granitic intrusive-related copper deposit owned by Copper Bank Resources Corp. It also lies 20 Km south of the Gollaher Carlin-style bulk-tonnage gold exploration property that was drilled in the late 1980s by Freeport McMoran, and 5 Km west of the Golden Trail Carlin-style gold property that is now being drilled by Peloton Minerals. Gold Jackpot also lies adjacent to the eastern boundary of the Texas Canyon Carlin-style gold prospect of Peloton Minerals. Gold Jackpot has 3 different types of targets on the Property: 1) a plus-6 Km long Carlin-style gold target along the major regional Stag's Leap range front fault system (see Fig. 2), with surface rock chip samples that assayed up to 16 grams per tonne gold (see Fig. 3); 2) a porphyry copper-gold target system that could be overlain by a diatreme copper-gold-silver system that has invaded the surface parts of a wide, major NE-trending fault system. Dikes of feldspar-quartz porphyry and aplitic granite crop out in the area at the surface, suggestive of a porphyry system at depth; and 3) a tellurium-(gold-silver) system whose outcrops have yielded analyses of up to 4 kg/ton tellurium. Tellurium is a key component in the solar panels of NYSE-listed First Solar Corporation. Exploration Strategy CAT is targeting profitable, long-term sources of strategic metals for the Alternative Energy future, including Electric Vehicles...