Kat Exploration Report on Recent Discoveries on its “Lucky” Property
23 Novembro 2009 - 10:05AM
Business Wire
Kat Exploration (OTC-Pink Sheets: KATX) is happy to
report that its exploration program carried out this summer on its
100% wholly owned “Lucky” Property has been a real success.
Copper mineralization is quite visible in an old pit near a
gravel road and impressive malachite staining along with chalcocite
is strata bound within the more sandy beds of the sediments. The
horizon that contains the mineralization has been traced for
approximately 8 miles with copper mineralization at a thickness of
300ft in places. Assay results of 2.5% Cu were discovered in the
most exposed areas within this horizon. The most recent work
uncovered several large areas of semi-massive to well disseminated
chalcopyrite approximately 4 miles on strike from the open pit
which reveals the highest copper grades to date.
This type of environment has the potential to produce low grade,
large tonnage copper deposits similar to those of the Zambia copper
belt.
To secure an area of interest the company recently staked 1225
acres of new land mass where some recent grab samples produced
copper results of .5% along with anomalous gold.
More ground work is planned for the Northern portion of the
property where the most recent copper occurrences were
discovered.
In its future endeavors the company would hope to ensure
non-dilutive options where the merits of the projects will fund the
operations. As one of the co-founders of Cornerstone Resources
Inc., who had done joint ventures with major mining companies such
as Noranda, Phelps Dodge, and other major companies, Mr. Stead is
quite familiar with world class mining companies and is confident
in bringing their interest to Kat’s projects as they move forward.
Future press releases will provide more updates to confirm more
guidance on the direction of the company.
At this time the board of Directors would like to inform
investors who have voiced concerns regarding the amount of the KATX
authorized shares. The Company has 3 billion shares authorized. The
authorized includes three separate series of reserved shares of
which two are non-dilutive. These two series of reserved shares are
equal to the fully diluted voting capacity of 66% of the Company’s
controlling interest to protect the company from any hostile
takeover. Therefore, there are actually only approximately
500,000,000 shares available for common issuance within the
authorized shares.
About Kat Exploration Inc
Kat Exploration’s principal objective is to locate, stake, prove
up and sell mineral properties to major mining companies. It is the
Company’s objective to take advantage of increased activity to
generate numerous joint venture clients, and sales of our existing
and yet to be acquired properties.
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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