KAT Exploration Inc. Drills Rare Earth Elements (REE's) at Rusty Ridge
23 Diciembre 2010 - 8:45AM
Marketwired
KAT Exploration Inc. (PINKSHEETS: KATX) www.katexploration.com
KAT Exploration Inc. (PINKSHEETS: KATX) is pleased to inform its
shareholders and the investment community that partial analytical
results have been received from two diamond drill holes completed
at its 100% owned Rusty Ridge property. Drilling tested two
separate target areas: a deep coincident gravity and magnetics
anomaly in drill hole RR10-01 and Rare Earth Element (REE) plus
gold potential within altered peralkaline felsic volcanic rocks in
RR10-02.
Hole RR10-02 intersected variably altered and mineralized
peralkaline felsic volcanic rocks throughout the upper 245 meters
of the 344 meter long hole. Initial ICP analytical results
indicated elevated lanthanum and cerium through several sections;
these, along with other selected sections of the drill hole were
sent for a complete suite of rare earth and associated elements.
Results have been received for the upper section of the drill hole
from 30 to 40.1m. The analyses indicate a 7.5m interval from 30.0
to 37.5m having elevated rare earth elements and zircon, returning
a weighted average of 0.164% TREO (including yttrium) consisting of
0.113% LREO and 0.051% HREO (including yttrium). The results also
returned 0.268% zirconium dioxide, 0.039% Nb2O5 (niobium oxide) and
0.022% rubidium. A table showing all analyses will be posted to our
website in the near future. Additional samples are being analyzed
for the rare earth and associated elements from other deeper
sections of the hole and will be reported when received.
Hole RR10-01, approximately 500 meters south of RR10-02, was
drilled to a depth of 719.3 meters to test a coincident gravity and
magnetics anomaly. The hole intersected mafic volcanic rocks,
conglomerates and mafic intrusive rocks that contain indications of
sub-economic copper mineralization throughout most of the drill
hole (including native copper and chalcopyrite). The conglomerate
unit is also strongly hematite altered, which could explain the
gravity anomaly. The upper part of the magnetics geophysical
anomaly is coincident with a thick magnetic mafic dyke.
Ken Stead, President/CEO, states: "We are very encouraged by the
presence of rare earth element rich rocks at Rusty Ridge and are
eagerly awaiting the next batch of assays to find out just how
consistent REE are at depth and if the grades improve. While there
is much work yet to be carried out to determine the significance of
this discovery, we feel we are in the very early stages of a most
interesting project."
The property will be re-examined in light of potential for
additional rare earth element mineralization. Further testing of
the main Rusty Ridge zone as well as other targets including strong
IP (Induced Polarization) anomalies, some of which are coincident
with gravity anomalies, will be considered.
The property is located near roads, seaports and power
infrastructure, improving the economics of any mineral deposits
found.
Rare earth elements reported were analyzed by Acme Labs in
Vancouver using their Group 4B analytical method, which produces
accurate analyses of the rare earth and associated elements.
The Company's exploration work on the Rusty Ridge Project is
supervised by Barry A. Sparkes, B.Sc. (Hons.), P.Geo. and J. Wayne
Pickett, M.Sc. P.Geo., both members in good standing of the
Professional Engineers and Geoscientists of Newfoundland and
Labrador. Mr. Sparkes and Mr. Pickett have verified that the
results presented above have been accurately summarized from the
official assay certificates provided to 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.
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Jack Zwicker Kat Exploration Inc. Investor Relations Ph
902-497-3188 jzwicker@katexploration.com www.katexploration.com
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