CAT Strategic Continues to Increase Land Package at Gold Jackpot; 22 New Claims Staked in Lithium Discovery Area in Elko County, Nevada

Rhea-AI Summary

CAT Strategic Metals Corporation (CSE:CAT)(OTC:CATTF)(FRA:8CH) reports staking 22 new mining claims and discovering mineralization samples at its Gold Jackpot Lithium Property in Nevada. The company's landholdings now total 3,202 acres, with potential lithium and gold-tellurium mineralization discoveries.

Positive

• CAT expanded its landholdings by staking 22 new mining claims, indicating a commitment to further exploration and potential resource expansion.
• The discovery of possible lithium and gold-tellurium mineralization samples demonstrates the property's geological potential and may attract investor interest in CAT's exploration activities.
• The involvement of a qualified geologist and the submission of samples to a reputable laboratory enhance the credibility of the exploration efforts and potential future findings.

Negative

• None.

• 22 New Lode Mining Claims Staked
• 2 New Discoveries of Mineralization
• Samples Taken and Hand-Delivered to ALS

VANCOUVER, BC / ACCESSWIRE / July 24, 2023 / CAT Strategic Metals Corporation (CSE:CAT)(OTC:CATTF)(FRA:8CH) ("CAT" or the "Company") is pleased to provide an activity update on its Gold Jackpot Lithium Property located in Elko County, Nevada.

22 ADDITIONAL NEW CLAIMS STAKED

CAT deployed its consulting geologist to the Gold Jackpot property on July 11^th to July 16^th in order to continue an on-site review of the property and ongoing reconnaissance to determine additional lithium claim staking opportunities. This activity resulted in CAT staking a further twenty-two (22) claims to the east and southwest of the Company's existing claim block. This has increased CAT's landholdings to 155 claims, which now totals 3,202 acres, or 1,296 hectares. The updated map below shows CATs original claim block in blue and the newly staked claims in red. It also shows CAT's claims in relation to Surge Battery Metals Inc. ("Surge") and Peloton Minerals Corporation ("Peloton"), the Company's neighbours in what is considered to be a new and emerging lithium discovery area.

Figure 1. New Claim Boundaries, Gold Jackpot Area

GOLD JACKPOT NEW LITHIUM AND GOLD-TELLURIUM SAMPLING

Eleven rock chip samples were taken during the recent mid-July visit to the property. Several samples were collected from tuffaceous sediment units on CAT's new claims that could be host to Lithium mineralization. Two new discoveries of possible epithermal gold mineralization were staked and sampled. Also, four "bulk" samples of high-grade Au-Ag-Te mineralization taken at Stag's Leap in 2009 (Figure 1) were re-taken, to be analyzed by 1 Kg screen-fire gold analyses and by 4-acid dissolution method for tellurium, copper, silver, molybdenum, and other components. The screen-fire analyses will test the samples for larger particles of possible "nugget gold" in the samples. A previous sample was taken at Stag's Leap by Barrick Gold personnel that reportedly assayed 16 grams per tonne Au (Ed Cope, pers. comm. to Redfern). The new CAT samples were submitted to the ALS laboratory in Elko. The results of those samples will be reported when received by the company.

Mr. Richard R. Redfern, M.S., C.P.G. No. 10717, is the qualified person as defined by National Instrument 43-101 who has examined the property on the ground, and wrote a Master's thesis on the Prince Mine area on Peloton's claim block, reviewed the geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release.

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 located in mineral districts proven to have world-class potential, primarily lithium, tellurium, gold, silver and copper. In addition to the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper-lithium trend with multiple targets for gold-silver, copper, tellurium, and potential lithium, CAT has the South Preston Uranium Project in the Athabasca Basin of Saskatchewan, the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", 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.

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.

SOURCE: CAT Strategic Metals Corporation

View source version on accesswire.com:
https://www.accesswire.com/769790/CAT-Strategic-Continues-to-Increase-Land-Package-at-Gold-Jackpot-22-New-Claims-Staked-in-Lithium-Discovery-Area-in-Elko-County-Nevada

FAQ

How many new mining claims did CAT stake at the Gold Jackpot Lithium Property?

CAT staked 22 new mining claims, increasing its landholdings to 3,202 acres.

What type of mineralization samples were discovered at the property?

Samples of possible lithium and gold-tellurium mineralization were discovered at the property.

Who is responsible for examining the property and approving the technical contents of the press release?

Mr. Richard R. Redfern, M.S., C.P.G. No. 10717, is the qualified person responsible for examining the property and approving the technical contents of the press release.