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CAT Strategic Metals Provides Update on Gold Jackpot Property in Nevada; Lithium and Tellurium Add Significant Interest to Known Gold-Silver-Copper Porphyry System
New Focus on Lithium and Tellurium Exploration Initial Gold Jackpot Drill Targets Identified NI 43-101 Technical Report on Gold Jackpot Underway VANCOUVER, BC /
About this update from Cat Strategic Metals Corporation
[{"type":"text","content":" New Focus on Lithium and Tellurium Exploration Initial Gold Jackpot Drill Targets Identified NI 43-101 Technical Report on Gold Jackpot Underway VANCOUVER, BC / ACCESSWIRE / May 23, 2023 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) (\"CAT\" or the \"Company\") announces that it is concentrating financial and human resources on further exploration of the Company's Gold Jackpot Project (\"Gold Jackpot\") in Elko County, Nevada, throughout the Spring, Summer, and Fall in order to better understand how this property might relate to the lithium discovery reported by Surge Battery Metals Inc. (\"Surge\") on its Nevada North Lithium Project located close by. CAT & SURGE Properties Mineralization Gold Jackpot is located less than 1.7 miles from Surge's property, which announced strong lithium results in a series of news releases beginning in December of 2022, and as recently as May 16, 2023. CAT's Gold Jackpot property is comprised of 61 consolidated claims, covers 510 hectares (1,260 acres) and sits on surface of the Idavada Formation tuffs, previously mapped by the USGS. This is the same geological setting in which Surge reported its lithium discovery. Gold Jackpot has had substantial historical exploration completed from the 1980's to early 2000's, which was predominantly focused on delineating an area of gold-silver-copper mineralization but was never explored for lithium specifically. However, the most recent review by CAT consulting geologist, Rick Redfern, of rock chip sampling contained in the database identified 6 samples with unexpected highly anomalous values of lithium; up to 158.5 ppm. These chip samples - which were collected as part of previous regional gold exploration activities - demonstrate the unexpected strong potential for a lithium discovery for CAT, given what Surge has discovered on its property. Other additional historic assay results returned gold values up to 4.84 g/t, silver values of up to 239 g/t, and tellurium values of up to 339 g/t. Further scrutiny of the available Gold Jackpot database revealed that from 1988-1990, Tenneco Minerals engaged in various exploration and sampling activities that included a 28-hole reverse circulation drilling program. These holes were mostly very shallow, +/- 100 metres, and were designed to test for open-pitable gold and silver contained in s...