MOUNT PEARL, Newfoundland - (Business Wire) Kat Exploration Inc. (OTC-Pink Sheets: KATX)
www.katexploration.com Kat Exploration is pleased to announce the results of its latest work program on its 100% wholly owned Iron Oxide, Copper, Gold(IOCG) “Rusty Ridge” property. Coincidental magnetic Induced Polorization(IP) resistivity and soil geochemical anomalies suggest potential for a body of Iron Oxide +/- Base, Precious and Rare Earth type mineralization, similar in style and setting to the giant Olympic Dam deposit in Australia.
Olympic Dam and related deposits all occur within continental rift sequence rocks adjacent to major structures. The Rusty Ridge is located within a continental extensional environment within peralkaline rocks emplaced adjacent to a regional fault system. The presence of a large magnetic body(can be viewed on Kat’s website)that appears to be intrusive into the overlying rock sequences that appear regionally altered, are variably pyretic and contain vein type fluorite mineralization and appears to suggest a magnetic origin for the mineralization.
The latest work program carried out on the far northern portion of the property has revealed new gold discoveries as high as 2 g/t and elevated Light Rare Earth Elements (LREE). This latest discovery is of most interest to the company as it is approximately 1kms from the magnetic anomalies in an under explored area.
A completed 3D inversion modeling of the airborne magnetic data, (can be viewed on Kat’s website) show a discreet, strong magnetic anomaly underlying the Rusty Ridge area. Coincidental with this are moderate to strong IP chargeability anomalies that suggest a significant concentration of sulfides. Those large anomalies have been determined as future drill targets that Kat would hope to test mid 2010.
Anomalous levels of the Light Rare Earth Elements (LREE) cerium and lanthanum, all present in Olympic Dam (and others) were not only detected in soils but also in rock samples. As well other rare earth elements Yttrium(Y), Niobium(NB), Zirconium(ZR) along with Uranium, were all detected in both soil and rock samples. In addition, the soil geochemistry also produced anomalies in silver, gold and copper.
The host rocks for most of the mineral occurrences and the unit overlying the most intense portion of the magnetic anomaly is a brecciated, hematitic felsic volcanic rock, locally with veins of purple fluorite and disseminated pyrite.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Kat Exploration Inc. to be materially different from the statements made herein.
Kat Exploration Inc.
Ken Stead - President
Office: 709-368-9223 – 709-690-2908
Website: www.katexploration.com
Email: kstead@katexploration.com
