KATX MOUNT PEARL, NL, CANADA , United States, via ETELIGIS INC., 02/26/2015 - - Kat Exploration Inc. (www.katexploration.com) (OTC Pink Sheets: KATX) (PINKSHEETS: KATX), is pleased to announce the staking of a new copper discovery on the Bonavista Peninsula. 180 claims (11,000 acres) were staked in total.
Since late summer of 2014, Kat's field crew had been doing much foot work and grab samples from outcrop and float rocks over an extended area north of the old South lucky claims along a NE/SW trending fault discovering many copper showing consisting of Calchocite, Malachite (Copper Oxides) and Native copper.
While past work in these areas revealed copper oxides this is the first time we have discovered native copper in the area. This discovery is in a belt of rocks known as the Rocky Harbor group which is below the Crown-Hill zone where the Blue Point copper deposit was discovered just to the north.
The very fact that this new discovery is in what is known as the basement rocks of the crown hill formation which hosts a SSC-style copper deposit at Blue Point hosted by a reduced sedimentary horizon in a red bed sequence of the late Precambrian and that it coincides with a ten mile long running fault, we feel this could possibly be the feeder zone to the many copper showings in the area.
In many areas impressive malachite staining along with chalcocite is strata bound within the more sandy beds of the sediments. Assay results from the old fifield's pit ran as high as 2.5% Cu which is also a part of our newly staked claims.
This type of environment has the potential to produce low grade, large tonnage copper deposits similar to those of the Zambia copper belt.
With the coming of spring the company will now implement a very aggressive exploration program of soil sampling, trenching and ground geophysics which will allow us to identify drill targets.
The Hodderville property can be viewed on our website under the property tab.
