KAT Gold Holdings Corporation OTCQB: BVIG
KAT Gold Holdings Corp announced today that it has consummated the acquisition of Global Gold Inc. a privately held Canadian
company with assets in Ghana
MOUNT PEARL, NL, Apr 26, 2012 (MARKETWIRE via COMTEX) -- KAT Gold Holdings. (otcqb:BVIG) (pinksheets:BVIG) www.katexploration.com
KAT Gold Holdings Corp, an emerging company with a strong portfolio of mining and exploration properties, is pleased to announce that it has appointed two new members to its board of directors.
Thomas Brookes has agreed to join the company as a director and "Senior Vice President of Foreign Capital Projects." Mr. Ken Stead, CEO, comments that, "On behalf of the board of directors, we are delighted to have someone with this caliber of mineral exploration and firsthand experience in mining operations that will oversee the company's foreign projects as we expand throughout the world. With more than 30 years in the mining sector, Thomas will bring fresh perspectives and proven success to our Board as we continue to progress within our long-term strategic plan."
Mr. Brooke's immediate attention is first and foremost on the company's Ekom Eya gold mining operations in Ghana Africa which is now is in the planning stages of production.
The Minerals Commission granted a small scale gold mining concession comprising 24 acres (0.097 sq.
km) on 4th April 2007 in respect of an area immediately surrounding the old Bibiani North shaft to
Ekom Eya Co-operative Small Scale Mining Society for five years renewable. This small scale mining
lease falls within the Bibiani North Donkoto Prospecting Licence.
The Pammu community is largely a small scale mining community. It has a licensed
small scale mining site operating. An underground mining site is owned by 'Ekom
ye ya', a co-operative. Apart from Thursdays, all other days are working days.
There are about 3000 workers who are paid monthly. A water pumping machine is
stationed on the site which pumps out underground water. This facilitates the work
of the small scale miners. A typical mining process involves the chiselling of
underground rocks sent up through pits and then sent to the processing site (not
within the vicinity) for processing.
Tailings of the old mine were deposited in a wide shallow valley lying to the east of the ore trend. This valley drains north-easterly into the semi perennial Pamunu River. Soil sampling indicated that substantial amounts of tailings might have been washed into the Pamunu River but it is estimated that about 60,000t at 5g/t can be retrieved. Using these figures, the tailings would be estimated to contain 2,894 ounces of gold
The Bibiani North ore body strikes virtually north-south. Over a distance of approximately 600m is marked by artisanal workings into the near surface sub rock which consist of up to 10m thick quartz veins in carbonaceous and graphitic schists or phyllites. The ore body dips between 50-55 deg to the East in the northern sector. The southern sector dips between 70- 90 deg East. CAG drilled 3,000m of RC (17 holes) in the vicinity in 2007 and estimated about 300,000 oz oxide gold resources for the Ekom Eya concession. Eight of the holes, each about 180m long, probed the Ekom Eya property.
The Ekom Eya Small Scale Permit is located about 800m north of the northern boundary of the Bibiani mine concession & 3.5 km from the Bibiani plant site, is accessible by road through the Bibiani mine site via the village of Lineso Donkoto and is approximately 7 km to the north of Bibiani Township
Bibiani North Boreholes Summary
The drill hole plan view with intersections clearly shows the gold mineralized trend is in a north-south direction along almost the entire 600 metre length of the permit.
The Ekom Eya Cooperative Small Scale Miners at Bibiani in the Western Region, have received a loanfacility at GH¢2.2million from the government.
The amount is to enable the miners extend electricity supply to their working site to off-set huge costs incurred through the use of diesel generators and purchase needed equipment.
They had earlier obtained a 24.79 acre land acceded by Anglogold Ashanti through the intervention of the government.
This is the first time in the history of the country that small scale or artisinal miners have received such assistance from the government. http://www.infomine.com/index/pr/PB173303.PDF
Recently artisanal miners arrived in their thousands on a hill some distance to the east of the mill and within the mining concession. For these miners to arrive in those numbers you have to be looking at 0.5 to 1 ounce per tonne because they are using hand held mining techniques. They had to be removed and may have found a narrow high grade outcrop (or more time will tell) yet a review of data on file showed no anomaly at the site. This is just further evidence that this property is highly mineralized with many surprises likely to follow; a grab sample from this site later graded 68g/t.
Rusty Ridge ~ Kat Gold Holdings The Company's interest in the Rusty Ridge property centers upon Iron-Oxide-Copper-Gold (IOCG) potential. The primary target is an interpreted mineralized deep-seated gravity/magnetic body hosted by a plutonic entity intruding volcanic rocks. KATX undertook a technical review and a proposal for a diamond drilling program for implementation in 2010. The Rusty Ridge property is, situated on Crown land in proximity to the community of Bunyan's Cove, Bonavista Peninsula. Mineral Exploration License Nos. 015991M, 016773M , aggregating 53 claims, are both in good standing.
New KATX Claim 2/27/2012
Shaylee = KATX (SHAYLEE CANCELLED 5/28/2013)
RUSTY RIDGE (Ken's Mountain)
The Results of this phase of the exploration program was highly successful in idenifying coincidental magnetic IP reistivty and soil geochemical anomalies that suggest potential for a body of iron Oide +/- Base, Precious and Rare Earth type mineralization, similar in style and setting to the giant Olympic Dam deposit in Australia.
Olympic Dam and related deposits all occur within continental rift sequence rocks adjacent to major structures. The Rusty Ridge is located within a continental extensional enviroment within peralkaline rocks emplaced adjacent t a regional fault system. The presence of a large magnetic body that appear to be intrusive into the overlying rock sequenc that appear regionally altered, are variably pyreticand contain vein type fluorite mineralization and appars to suggest a magnetic origin for the mineraliztion.
A recently completed 3D inversion modeling of the airborne magnetic data, show a discreet, strong magnetic anomaly underlyin the rusty ridge area. Coincidental with this moderate to strong IP chargeability anomalies that suggest either, graphite or significant concentrations of sulphides. Graphite can be for the most part elminated as the rocks are terrestrial, not marine meaning that conductive argillaceous rocks would not be expected in this enviroment.
Anomalous levels of the Light Rare Earth Elements (LREE) crium and lanthanum, all present in Olympic Dam (and others) were not only detected in soils but also in rock samples as well. In addition, the soil geochemistry also produced anomalies in silver, gold, copper.
The host rocks for most of the mineral occcurances and the unit overlying the most intense portion of the magnetic anomaly is a brecciated, heatitic felsic volcanic rock, locally with veins of purple fluorite and disseminated pyrite.
This property as already generated a lot of interest from mining companies and is bing offered as a Joint Venture (JV) project.
KAT Exploration Initiates Drilling Program on Rusty Ridge IOCG Property
Mount Pearl, June16, 2010-KAT Exploration, Inc. (OTC-Pink Sheets: KATX) www.katexploration.com
KAT Exploration is pleased to inform its shareholders and investment community that a deep drilling program on its Rusty Ridge Iron Oxide, Copper & Gold (IOCG) property is being initiated in order to test two major Induced Polarization (IP)/Magnetics targets. Application for drilling has been submitted to Newfoundland Department of Mines & Energy to carry out the work. A Canadian geological firm with much experience in the Olympic Dam type deposits have been contracted to carry out the project under the direction of our present geologist Mr. James Weick. The Rusty Ridge targets have been identified by an airborne survey and ground geophysics which can be viewed on KAT's website.
The coincidental magnetic IP resistivity and soil geochemical anomalies suggests potential for a body of Iron Oxide +/- Base, Precious and Rare Earth Element type mineralization, similar in style and settings to the giant Olympic Dam deposit in Australia. The presence of a large magnetic body that appears to be intrusive into the overlying rock sequence that appear regionally altered, are variably pyritic and contain vein type fluorite mineralization and appears to suggest a magnetic origin for the mineralization. Anomalous levels of the Light Rare Earth Elements (LREE) cerium and lanthanum, all present in Olympic Dam were not only detected in soils but also in rock samples as well in our Rusty Ridge property. In addition, the soil geochemistry also produced anomalies in silver, gold & copper.
President and CEO Ken Stead stated "This project will be very significant for the growth of the company if the defined targets at depth prove to be a multi-mineral ore body similar to that of the Olympic Dam, or any deposit for that matter. We know the targets are very intense and now we are ready to prove what they are by means of a series of deep drill holes".
Shareholders and Investors will be kept up to date as this drill project moves forward.
Here is a close up of the area where Rusty Ridge is (Ken's Mountain)
The targeted exploration of this Property is volcanic red bed copper ("VRC") similar to deposits found in Michigan. The Collier's Property is approximately 500 hectares in size and is situated on Crown land in proximity to the communities of Collier's and Conception Harbour, Avalon Peninsula. Mineral Exploration License No. 011706M, aggregating 20 claims, is in good standing. The Company believes that the Collier's Property has been unexplored for at least 150 years. The Seller staked the property in 2006 for its VRC potential associated with chalcopyrite, bornite and malachite mineralization located in a 27 meter deep shaft sunk in the 1850's.
Mineralization consisting of chalcopyrite, bornite and calcite which occurs as patches and as fillings of fractures in the andesitic and basaltic rocks of the Harbour Main Group. The occurrence consists of an old working with a 90 foot (27 m) shaft. Malachite stains are abundant on the surface of the host rock. Copper Mineralization also occurs in the subaerial mafic volcanic rocks as occurrences which usually contain one or more of native copper, chalcocite, chalcopyrite, covellite and bornite in veins, amygdule fillings, disseminations and shear zones. This deposit was documented as early as 1868, and other than the 27m shaft this deposit has never been drilled off leaving much unknown about the source and amount of contained copper and silver within this deposit. Assays from the surrounding host rock yielded results as high as 23.60% Copper and 236.30 g/t silver.
Renewal Date: 2016/02/13
Olympic Dam style deposits all occur within continental rift sequence rocks adjacent to major structures. The Louil Hills REE Property is located within a continental extensional environment within peralkaline rocks emplaced adjacent to a regional fault system. The presence of a large magnetic body that appear to be intrusive into the overlying rock sequence that appear regionally altered, are variably pyritic and contain vein type fluorite mineralization and appears to suggest a magmatic origin for the mineralization.
KAT Exploration recently completed an exploration program on ground adjacent to the Louil Hills REE property and stated "Anomalous levels of the Light Rare Earth Elements (LREE) cerium and lanthanum, all present in Olympic Dam (and others) were not only detected in soils but also in rock samples as well. In addition, the soil geochemistry also produced anomalies in silver, gold, copper."
A report titled Rare Earth Targets in Insular Newfoundland, published by the R.R. Miller of the Mineral Deposits Section of the Geological Survey of Newfoundland (1989) states on page 176, that the Louil Hills area:
"Have the best Yttrium-Niobium potential of any volcanic rocks sampled in insular Newfoundland. Evaluation of the rare metal potential of the Louil Hills peralkaline granite could be accomplished with a relatively minor lithogeochemical and prospecting program" http://www.nr.gov.nl.ca/nr/mines/geoscience/publications/currentresearch/2012/Sparkes_2012.pdf
: Dr. David Lentz states that "based on what I have seen to date, I believe that the Louil Hills area holds potential for an IOCG target (Iron oxide copper-gold) containing iron oxide with base metals, precious minerals, and rare earth type mineralization, similar in style and setting to the giant Olympic Dam deposit in Australia."
Other Information http://www.sudburyminingsolutions.com/articles/News/09-11-Vale-hydromet.asp http://stjohns2012.ca/gac/wp-content/uploads/2011/04/gac2012.2ndcirc.jan2712E.pdf
Most Recent Share Structure:
BVIG - Kat Gold Holdings Inc -
Authorized Shares = 1,000,000,000 - Common Shares as of July 16, 2013
Issued and Outstanding = 464,477,833 Common Shares as of Sep 30, 2013
Float = 259,714,675 - as of july 16, 2013
Authorized Shares = 5,000,000 - Preferred Shares as of October 25, 2012 (Of which 2,500,000 are Series A Preferred)
Issued and Outstanding = 2,120,000 - Preferred Shares Series A
(SEE October 25, 2012 S-1A5)
The authorized capital stock of our company consists of 505,000,000 shares of capital stock, consisting of 500,000,000 shares of common stock and 5,000,000 shares of preferred stock, 2,500,000 of which have been designated Series A Preferred Stock. As of the date of this prospectus, there are 464,477,833 shares of our common stock and 2,120,000 shares of our Series A Preferred Stock issued and outstanding.
Series A Preferred Stock
The Series A Preferred Stock ranks equal to the common stock on liquidation and pays no dividend. Each share of Series A Preferred is convertible, at the option of the holder, into one (1) fully paid and non-assessable share of our common stock at any time from and after the date our net income exceeds $1,000,000.On any matter presented to our shareholders, each holder of outstanding shares of Series A Preferred shall be entitled to cast twenty five (25) votes for each share of Series A Preferred held by such holder as of the record date for determining shareholders entitled to vote on such matter. Except as provided by law or by other provisions of our articles of incorporation, holders of Series A Preferred shall vote together with holders of our common stock as a single class.