Kat Exploration is pleased to announce that it has laid claims to a copper /gold property on the Bonavista Peninsula, Newfoundland.
Collectively, the property is overlain by Late Precambrian sedimentary and volcanic rocks highly prospective for copper and gold within a variety of mineralized settings.
Along the eastern property boundary, a fault is interpreted to bring Cambrian sediments in contact with large volcanic units.
The mineralization is best exposed at two locations on the property near the flanks of an old quarry. The mineralization consist of shear and locally vein hosted, pyrite(+/-) chalcocite in moderately to strongly hematized and carbonatized (Fe-carbonate) volcanic rocks.
The sulphides typically occur as disseminated to patchy masses unevenly distributed throughout the altered volcanic rocks. The Copper and Gold is most common in the strongly sheared portions of the alteration zone and is often accompanied by Malachite staining. The alteration is typically an orange-brown color, strongly suggesting an iron rich carbonate Ankerite. The carbonate alteration is pervasive, and where intense, is usually accompanied by carbonate quartz veinlets and stringers containing disseminated chalcocite.
Work to date was focused on limited rock sampling from a 30 meter portion of a 200 meter long alteration zone exposed on surface leaving a significant amount of the alteration zone untested.
Best assay results returned to date are 1000 ppb Au - 6040 ppm Cu. Further sampling will be carried out in order to determine the economic potential of the property.
Given the fact that gold has always and still remains strong on the world market, Kat Exploration will seaze any and all oportunities to accumlate highly potential gold projects.