Replies to post #50434 on KAT Exploration Inc (KATX)

[Biochemist2002]

Notice I added info about the new law firm, new geologist, new OTCBB shell, and several links to exploration work that has been stated should take place some time this summer including: Lucky, Rusty, Shaylee, etc. (I forgot about Lucky having work done "late spring/early summer). Lot's of data to be coming out of KATX this summer. Some other goodies in there too that weren't in there before. I tried to answer some of the more common questions that seem to be coming up lately with all the new eyes on KAT.

[Rick-UK]

That's a great post Biochemist! I'd like to add a little about the Bonavista Peninsula area, and particularly about VALE, Cornerstone and KAT Exploration. To set the scene, I'm first going to quote a post by warant made to the BVIG board...

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I will give a little info on some things without getting to exact as to conversations with whom or when. First of all was not on all of KATS properties as I am no longer in NEWF and they have new properties. I was always in contact with Ken over the years.The properties that VALE is interested in is all the Bonavista area even beyond. Cornerstone, Noranda and others over the years visited these properties, and they all think that their is a major copper resource somewhere,but they need time and money to find it. Those properties around Bonavista area, Me, Ken,other friends of Ken, would fish in the Lakes in the area and Ken would talk about what is here and what is there; you know buddy talk. One of those friends I talked to a few days ago,had a conversation with a group from VALE, down doing some work on the agreements they signed with CGP, and they like what they saw, but man this copper belt goes for miles and it is a layered deposit.If I remember correctly Ken said that this belt went for hundred of miles; up and then down like a snake, low grade but high tonnage.( this conversation was years ago). Ken always knew that their was copper there so did anyone else you go in the country side to fish or pick berries you could see sign's of it every where. Another time I remember we were looking over a map for where we we going to go trouting on the weekend and Ken pointed out a steam on the map in the area; Ken said I panned that stream one time looking for sign's of gold all I got was a pan full of copper. LOL we all laugh and said he should get some and make some spinners for trouting.
Vale is looking for copper and they are JV every thing in the area to try and find it.

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OK so now I'm going to quote from Cornerstone's recent press release about their JV partnership with VALE...

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Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) announces that it has signed an option agreement with Vale Exploration Canada Inc. ("VEC"), a wholly-owned subsidiary of Vale S.A. (NYSE-VALE) ("VALE"), respecting its Red Cliff and Deer Harbour copper properties in eastern Newfoundland. VEC will make an initial payment of C$25,000 and has committed to a minimum first year expenditure of C$165,000. Thereafter, VEC may elect to make further cash payments totaling C$75,000 over the first two years of the option and incur additional exploration expenditures totaling C$2,850,000 over three years in order to earn a 60% interest in the properties. The parties will then form a joint venture to further explore and develop mineral resources on the properties, with each party contributing to approved exploration programs as per their interest. VEC will operate the exploration programs during the option period in consultation with Cornerstone.

"We are extremely pleased to be working with Vale on these copper projects," said Colin McKenzie, Cornerstone's President & CEO. "Cornerstone has been exploring for copper in this area since the company's inception, and VEC's recent interest through its own claim staking and optioning of our properties confirms our view of the potential of this environment to host significant copper deposits".

The Red Cliff and Deer Harbour properties are located on the Bonavista Peninsula in eastern Newfoundland, approximately 270 road km west of St. John's. Collectively the properties comprise 181 mineral claims (45.25 km2) with potential for sediment-hosted stratiform copper (SSC) deposits.

SSC mineralization on the Bonavista Peninsula was first recognized by Cornerstone in late 1999 occurring in red and grey bed sequences of the Late Neoproterozioic Crown Hill Formation. Exploration work carried out on the Red Cliff property between 2000 and 2005 included geological mapping and prospecting, detailed stratigraphic and petrographic studies, geochemistry and geophysical surveys, and diamond drilling (9 holes totaling 1,596 m). This work resulted in the discovery of a number of new copper showings, the most significant being the Blue Point prospect in the northeast part of the property. Continuous chip sampling across the reduced mineralized zone and portions of the lower and upper red beds at Blue Point returned 0.54% Cu and 7.2 g/t Ag over 25.5 m, including 0.93% Cu and 13.02 g/t Ag over 13.5 m. In 2001 and 2002, the southwest strike extension of the Blue Point zone was drill tested, with two holes intersecting significant copper grades including 0.8% Cu and 7.7 g/t Ag over 9.69 m in hole RC-01-01 and 1.0% Cu and 12.1 g/t Ag over 14.25m in hole RC-01-02. Although other holes encountered narrower and weaker mineralized zones, the drilling confirmed very good continuity and thickness (30-37m) in the favourable reduced units which have been tested only over 3.5 km of their approximately 20 km total strike length.

The Deer Harbour claims located approximately 65 km south of Red Cliff cover a number of SSC copper showings hosted in similar reduced members of the Crown Hill Formation. Outcrop grab samples from the copper showings generally return between 0.1 and 1.6% Cu. The showings have received only limited prospecting, and none have been drill-tested.

Dr. Jon Thorson, Cornerstone's consulting geologist and expert on SSC deposits, sees many favourable comparisons between the Red Cliff area and the prolific Central African Copperbelt, also of Late Neoproterozoic age. Given the existing level of exploration, Cornerstone feels the area continues to hold good potential for discovery of a significant SSC deposit.

This press release was prepared by Terry Brace, P.Geo., Cornerstone's VP Exploration and a Qualified Person in accordance with National Instrument 43-101.

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As I said in my summary of DD on 18th May, one of the two properties that Cornerstone is JV'ing with VALE is just north of the VALE claims that surround Lucky, but the other one is just south of our new, massive claim Clifton. Take a look at the map below. You will see where the two claim properties are that Cornerstone have JV'd with VALE in relation to KAT Exploration's properties and also in relation to the underlying bedrock which VALE appears so interested in and which appears to potentially yield very large quantities of low grade copper. Clifton could be massive for us.



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[B402]

Great Post Bio..82.50 Not a penny less :)

[$pmlg]

KATX . 21 great DD! chart says tough .20 R as I previously posted...
on may 21st 4 days ago...

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.155 .18 .20 .235 .28 .30 .35





i expect good 3 and 4 baggers to continue baggin

[maybe_this_time]

This is all very impressive. Assuming one of these projects makes the grade for development (a partner gets on board), what will be KATX's cut of the recoverable ore, roughly speaking, 20%? What would one of these projects roughly be worth? $1 billion? Seeing there's 500 million shares out, and assuming there's at least that many in restricted shares, what's the basis to see the PPS double yet again?