CAT Strategic Deploys Crew to Begin Ground Geophysical Survey of South Preston Uranium Project
CAT STRATEGIC DEPLOYS CREW TO BEGIN GROUND
GEOPHYSICAL SURVEY OF SOUTH PRESTON URANIUM PROJECT
VANCOUVER, BC August 9, 2022 - CAT Strategic Metals Corporation (CSE: CAT, OTC:
CATTF, FRA: 8CH) (“CAT” or the "Company") reports that, further to its news release of
July 5, 2022, announcing the completion of a detailed airborne geophysical survey on the
South Preston Uranium Project in Canada’s prolific Athabasca Basin , the Company has
deployed a n exploration team to the property in order to begin a highly anticipated
exploration program.
Two field crews will be conducting a variety of activities; including pro specting with
gamma-ray spectrometers for radioactive bedrock and boulders in the areas over, and
adjacent to, conductors identified by the recently completed airborne EM-magnetometer
survey. The crews will map and sample any bedrock encountered in the target areas.
The team will also attempt to confirm the location of radioactive boulders and bedrock
reported in historical records that are part of the Company’s extensive database. The goal
is to characterize these historical occurrences in terms that may provide a better
understanding of the vectors toward mineralization, i.e., type of rock, size and angularity
of boulders.
Additionally, bio-geochemical sampling of black spruce in the above-mentioned areas will
occur using a grid approach, with profiles on a 150 metre spacing and 25 metre sample
site spacing.
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 drilling that occurred in Azincourt’s G -Zone, which is
quite close to the border of CAT’s claim block.
According to CAT CEO, Robert Rosner , “Our neighbour to the north, Azincourt Energy ,
recently reported highly encouraging results from its Winter drill program , and we are
particularly interested in the drilling they did in the G -Zone. 9 holes were drilled in this
zone that appear to be following a trend of hydrothermal alteration with each subsequent
new drill hole getting closer and closer to CAT’s Claim. This suggests to us that whatever
system they are encountering on their property could very well extend onto our property
as well. Now that we have a crew in the field at South Preston, we are quite excited to
add new information to the data-set that will be intrinsic to our future exploration activities”
As a result of the ongoing success of Azincourt’s exploration and drilling activities in the
area, CAT’s management and consulting group held an informal first meeting with
Azincourt’s team to discuss in general terms the potential of the area and the various
exploration activities conducted in the past and present, and what the most logical next
step work programs might look like on both sides of the property line.
Alex Klenman, CEO of Azincourt Energy , stated; "We are quite pleased to collaborate
with the team from CAT" . Both of our companies obviously share an interest in regional
exploration efforts and we feel that both companies can benefit from an ongoing, open
dialogue that may be advantageous to both of our exploration plans. We are following
CAT closely, as they are with us, so we're going to develop a good working relationship
that helps both CAT and Azincourt vector towards meaningful and impactful discovery."
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 locate d 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 Co unty, 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”, on OTCMarkets.com under the trading symbol “CATTF”, and on
the Frankfurt Stock Exchange under the symbol “8CH”.
ON BEHALF OF THE BOARD
Robert Rosner
Chairman, President & CEO
Further information regarding the Company can be found on SEDAR
at www.SEDAR.com, by visiting the Company's website www.catstrategic.com or by
contacting the Company directly at (604) 674-3145.
This news 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.