KAT Exploration Inc. to Drill Test IOCG Targets at Rusty Ridge
01 Settembre 2010 - 3:50PM
Marketwired
KAT Exploration, Inc. (PINKSHEETS: KATX) (www.katexploration.com)
is pleased to inform its shareholders and investment community that
the company is now ready to begin drilling on its 100% wholly owned
Rusty Ridge Iron Oxide Copper Gold (IOCG) property. Tenders are
being called for the drilling program, and as announced earlier,
all permits are in place with two distinct targets being defined
for deep drilling.
Results of a high resolution airborne magnetic survey, a ground
gravity survey along with coincidental magnetic Induced
Polarization (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.
A completed 3D inversion modeling of the airborne magnetic data
shows a discreet, strong magnetic anomaly underlying the Rusty
Ridge area. Coincidental with this are moderate to strong IP
chargeability anomalies that suggest the possibility of a
significant concentration of sulfides. A 3D inversion model of the
ground gravity survey identified a large gravity anomaly and
several other smaller anomalies further supporting the potential
for an IOCG deposit. Selected coincident gravity, magnetic and IP
anomalies, including the large gravity anomaly, will now be drill
tested to determine the significance of these targets.
Ken Stead, President/CEO of KAT Exploration, stated, "That
although the targets to be drilled are deep targets, what is most
exciting and of interest is that the anomalies are also 400-500
meters thick. If these targets prove to be thick mineralized units
similar to that of the Olympic dam, it will be the first for the
province and will no doubt generate a tremendous positive impact
for the company."
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.
Jack Zwicker Kat Exploration Inc Investor Relations Ph
902-497-3188 jzwicker@katexploration.com www.katexploration.com
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