GOLD
The interpretation of the drone-based magnetic, ground-based gravity surveys and the three induced polarization (IP) lines at the Gold Jackpot Property has now been completed.
These surveys have defined two distinct geophysical anomalies in two locations that appear spatially related to previously taken anomalous gold and copper rock chip samples and are bounded by major regional structures to the west and east
The high-chargeability and low-resistivity anomalies could potentially represent sulphide mineralization at depth
The results of the surveys confirm the Company's working hypothesis that the southern anomalies represent a diatreme-porphyry-style target, while the northern anomalies represent a Carlin-style gold target
The Company will now commence planning of a follow up exploration programme that should include drilling to test these exciting targets
In the northern section of the Property three coincident high-chargeability anomaly and low-resistivity anomaly are associated with a limestone/dolomite host rock. These anomalies are located in proximity to where a 1.2 gram per tonne gold in rock chip sample was taken previously by
In the southern section of the Property a coincident high-chargeability anomaly and low-resistivity anomaly is also associated with a folded limestone/dolomite mudstone contact. The host rocks form an anticlinal structure with the western limb turning vertical or bounded by a fault. The chargeability section shows a west dipping anomaly wrapping along the western side of the resistivity-low, perhaps following the limestone-mudstone contact. The exact source of the anomaly is indeterminate at this stage, however to produce such low-resistivities with associated chargeabilities is typical of graphite and / or sulfides. While no evidence of graphite has been seen in this area, anomalous gold and copper rock chip samples appear spatially related to the geophysical anomalies. CAT is investigating this as a porphyry-diatreme copper-gold-silver target, with local highly anomalous tellurium-rich mineralization of as yet unknown origin.
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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
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