CAT Strategic Metals Corporation: CAT Strategic Metals Enters into Exclusive Option Agreement to Acquire a 100% Undivided Interest in Gold Jackpot Mineral Property
CAT" or the "
Agreement") pursuant to an arm's length negotiation with the vendor ("
Vendor") dated January 21, 2021. Agreement gives the Company exclusive right to acquire a 100% undivided ownership in the Gold Jackpot mineral property ("
Property") over a 4-year period from the effective date. The unpatented lode claims of the Property are located 35 Km southeast of Jackpot and 135 Km. NE of Elko, Nevada, in the Pequop gold-copper Trend (see Fig. 1).
The Gold Jackpot Property
The Gold Jackpot strategic metals property is in a highly mineralized region and has multiple exploration targets for gold-silver, copper, and tellurium. It lies 105 Km north of the Long Canyon Carlin-style gold mine of Nevada Gold Ventures LLC, 23 Km southeast of the pre-feasibility stage Contact bulk-tonnage granitic intrusive-related copper deposit owned by Copper Bank Resources Corp. It also lies 20 Km south of the Gollaher Carlin-style bulk-tonnage gold exploration property that was drilled in the late 1980s by Freeport McMoran, and 5 Km west of the Golden Trail Carlin-style gold property that is now being drilled by Peloton Minerals. Gold Jackpot also lies adjacent to the eastern boundary of the Texas Canyon Carlin-style gold prospect of Peloton Minerals.