Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
2.27 million metric tons ore; Combined with production?: no; Provisional entry?: no; Resource category: geological resource Grade-commodity information: Cu: 2.62 percent
Au: 1.34 grams/metric ton
Ag: 56 grams/metric ton
http://apps1.gdr.nrcan.gc.ca/gsc_minerals/gquerycache/vms/DP/dp176.html
Disclaimer - Reserves/Resource Data
Her Majesty the Queen in Right of Canada, represented by the Minister of Natural Resources (NRCan) does not warrant or guarantee the accuracy, completeness or fitness for any purpose of Reserve and Resource information (Data) contained in this database, including whether the Data is compliant with any securities regulations or standards, and NRCan does not assume any liability with respect to any damage or loss incurred as a result of the use made of the Data.
Resource and reserve figures are historical in nature. The Data source provided with each set of figures should be cited if the Data are re-reported.
2.27 million metric tons ore; Combined with production?: no; Provisional entry?: no; Resource category: geological resource Grade-commodity information: Cu: 2.62 percent
Au: 1.34 grams/metric ton
Ag: 56 grams/metric ton
Reference: Franklin, J. M.; Gibson, H. L.; Jonasson, I. R.; Galley, A. G., 2005: Volcanogenic Massive Sulphide Deposits; Appendices on CD-ROM, Section [Franklin] Volcanogenic Massive Sulfide Deposits, in Economic Geology 100th Anniversary Volume, Edited by Hedenquist, J. W.; Thompson, J. F. H.; Goldfarb, R. J.; Richards, J. P., Special Volume, Society of Economic Geology, 1146 p., 1 disks
Perphaps you could ask for an update on the
Private Independent Consultants
In January 2010 KAT announced the appointment of private independent consultants to “provide an array of major mining support and other ventures to be announced later that will significantly enhance shareholder value”. The identity of these consultant are unknown but the speculation is that they may also be linked to the investors in some way. The fact that they can provide major mining support is a strong indication that these consultants may also be a part of or strongly linked to a large mining corporation such as Teck or VALE.
JV not just with TECK conversations are not new
“[Handcamp] is just south of the new gold processing facility which just opened this year by Anaconda Mining. That in itself is just south of what used to be the Nugget Pond Gold Mine, which is now being operated by Crew Gold and then there’s the Duck Pond Deposit, which is being mined as a massive sulphide deposit, and is a bit to the south also.” Handcamp’s situation so close to existing gold mines and Anaconda Mining’s gold processing facility could make a potential JV with Anaconda a good prospect for both companies.
REE maybe a proximity indicator of IOCG...with other minerals found.
http://wiredspace.wits.ac.za/bitstream/handle/10539/1750/CHAPTER1___INTRO.pdf?sequence=2
The principal copper-bearing minerals are cogenetically-precipitated chalcopyrite, bornite and chalcocite (Plates 1.2 (a)-(c)) (Johnson & McCulloch, 1995) with minor native copper. Bornite and chalcocite often occur as exsolution intergrowths of each other (Plate 1.2 (d)-(e)). Minor gold and silver is intimately associated with the copper sulphides.
The central hematite-quartz breccia zone is noted as being essentially barren of copper-uranium mineralisation (Reynolds, 2000). The heterolithic microbreccia consists of fragments of hematite and altered granite in a matrix of quartz-hematite-sericite-siderite-chlorite (Pirajno, 2000).
However, a number of features are common to most descriptions of IOCG and related systems, and a number of other characteristics appear to be recurrent, although not necessarily universally present (Table 1.1).
Generally accepted distinguishing characteristics
• an abundance of Cu and Au
• extensive alkali-rich alteration of both sodic-calcic [Na(Ca)] and potassic [K] types (Hitzman et al. 1992; Barton & Johnson, 1996)
• voluminous low-Ti magnetite and/or hematite
• a distinctive suite of minor elements, i.e. REE, Co, Ag, + U, + P
• prominent structural control including localisation along high- to low-angle faults, generally splays off major crustal scale faults (Hitzman, 2000)
Potentially key characteristics
• adjunct coeval magmatism
• associations with distinctive magmas, e.g. high-K granitoids (Pollard, 2000) or alkaline magmatism (Meyer, 1988)
• non-magmatic brines, e.g. evaporitic fluids or basinal brines (Barton & Johnson, 1996; Haynes, 2000)
• distinctive tectonic environments, e.g. extensional or compressional settings (Hitzman, 2000)
• distinctive ages of formation, e.g. Mesoproterozoic (Meyer, 1988)
High-grade copper-uranium mineralisation generally correlates to more hematite altered rocks (Fe-metasomatised) and may be accompanied by fluorite, barite and REE phases. The exception is the central hematite-quartz breccia, which appears to be a final stage hydrothermal reworking of earlier generations of mineralisation. High-grade gold zones occur as narrow, complex zones around the silicified margins of the hematite-quartz core
Fluorite mineralisation occurs together with sulphides in the mineralised breccias as disseminations, clasts and veins that may comprise up to 1-2 % of the rock. Barite characteristically occurs in the hematite-granite breccia and central hematite-quartz breccia core of the deposit, which contain lesser amounts of sulphide mineralisation
Figure 1.7. Generalised alteration and mineralisation patterns within the ODBC with some typical mineral assemblages. More common components of the ODBC shown in solid lines; neither absolute nor relative abundances are implied. mt=magnetite; hem=hematite; ser=sericite; chl=chlorite; sid=siderite; flu=fluorite; bar=barite; sil=silicification; py=pyrite; cp=chalcopyrite; bn=bornite; cc=chalcocite; Cuo=native copper; Auo=free gold; ura=uraninite; bra=brannerite; cof=coffinite; REE=lanthanum and cerium (from Reynolds, 2000).
Maybe the stickie and the spreedsheets could get up dated....maybe Tink could redo the maps
Notice the map and locations of the princess copper finds....this is from 2000.
http://www.nr.gov.nl.ca/mines&en/geosurvey/publications/commodities/copper.pdf
Copper production, when it resumes, will be dominated
by the mafic intrusion- and volcanic-hosted
deposits and it is the search for these deposit types
that will probably dominate future exploration. The
mafic intrusions of Labrador, particularly those that
contain primitive rocks of troctolite–gabbro composition,
offer good potential for further discoveries (see
companion volume on nickel), as do the volcanic terranes
of central Newfoundland. The search for VMS
deposits will most likely focus on the intermediate- to
mature-arc environments, which possess the best
potential for high-value, polymetallic
deposits of Buchans
type. The Avalon Zone volcanic
rocks have seen relatively
little exploration for
VMS deposits, however, it
has been suggested that the
shallow water–subaerial environments
that typify these
rocks may have potential for gold-rich VMS deposits.
The sediment-hosted environments, notably the
redbed and volcanic redbed environments, represent
promising grass-roots targets that elsewhere in the
world have proved to be major
sources of copper.
The porphyry environment
is also an underexplored
grass-roots target
that may have considerable
further potential, particularly
in the granitoid batholiths that
comprise much of the Newfoundland south coast. The
possible association of Cu–Au, or Fe oxide–Cu–Au,
porphyry mineralization with the epithermal systems
of the Avalon Zone is also a promising target for a
large part of the central and western Avalon Zone.
What is the value of the tax loss after the reverse merger, what would another company pay on top of the value of the claims for the tax loss coverage? Seems likey that KATX and KATG Holding are in a position to benifit.
http://www.scribd.com/doc/54758874/8/Reverse-Merger
Generally, a company with the track record should have a less profit earning or loss making but viable company amalgamated with it to have benefits of economies of scale of production and marketingnetwork, etc. As a consequence of this merger the profit earning company survives and the loss makingcompany extinguishes its existence. But in many cases, the sick company¶s survival becomes moreimportant for many strategic reasons and to conserve community interest. The law providesencouragement through tax relief for the companies that are profitable but get merged with the lossmaking companies. Infact this type of merger is not a normal or a routine merger. It is, therefore, calledas a
Reverse Merger.
The allurement for such mergers is the tax savings under the Income-tax Act, 1961. Section 72Aof the Act ensures the tax relief which becomes attractive for amalgamations of sick company with ahealthy and profitable company to take the advantage of carry forward losses. Taking advantage of the provisions of section 72A through merger or amalgamation is known as reverse merger, which givessurvival to the sick unit by merging it with the healthy unit. The healthy unit extincts loosing its nameand the surviving sick company retains its name. Companies to take advantage of the section follow thisroute but after a year or so change their names to the one of the healthy company as were done amongstothers by Kirloskar
Pneumatics Ltd. The company merged with Kirloskar Tractors Ltd, a sick unit andinitially lost its name but after one year it changed its name as was prior to merger.
Reverse Merger under Tax Laws
Section 72A of the Income-tax Act, 1961 is meant to facilitate rejuvenation of sick industrialundertaking by merging with healthier industrial companies having incentive in the form of tax savingsdesigned with the sole intention to benefit the general public through continued productive activity,increased employment avenues and generation of revenue.
New Vale President May 22
How many KATX employees have a Vale Inco connection?
http://www.bloomberg.com/news/2011-04-05/vale-names-ferreira-ceo-as-agnelli-leaves-after-criticism.html
Vail Canada’s Inco
A former banker at Brazil’s Banco Bradesco SA (BBDC4), Agnelli oversaw more than $84 billion in investments and acquisitions at Vale between 2002 and 2010, including the purchase of Canadian nickel miner Inco Ltd. in January 2007 for C$19.4 billion ($20 billion). Vale sold units and assets amounting to $3.95 billion over the period, according to the company’s website
But what if the Vale VP that ran Canada has done so well they named him as President of Vale....and they are just waiting to make a huge annoucement....JMO
My DD is fine...
The mineral found on Ken's Mountain have be well known...
The boring confirmed that the minerals are in the ground and not just on the groud.
The geology is the same and from the Cache map
http://gis.geosurv.gov.nl.ca/geofilePDFS/Batch14/NFLD_2777.pdf
[b
]Shallow: Ore- hematite, magnetite, copper sulfide minerals (principally chalcopyrite, possibly bornite and chalcocite),
apatite, pyrite, monazite, bastnaesite, florencite, xenotime, uraninite, brannerite, and pitchblende.
Looks like copper in two locations.... wonder who made the map?
contain indications of sub-economic copper mineralization throughout most of the drill hole
(including native copper and chalcopyrite
Thanks Tink....hold your hand can KATX can fly.
This next map is from the Cache news release...notice the names on the bottom of the maps Froude and Obrien....
Is there anyway that you or anyone can get ahold of the base map and get more information....showing the volcanic flows....types like in the map?
Notice how the finds are along the fault lines... and the locations of the the two copper finds on the rusty ridge claim...
http://thenewswire.ca/client_files/2011-05-03-0.jpg
Does any one have an update on the claim that was "given" up and has the stickie been updated to show the new claims added to Rusty Ridge....?
Looks like Vale and Kat have been busy recently: Wonder if the news is being held on all fronts for NEW VALE president....May 22nd JMO....
Lucky
Actual Expenditure = $17,515.62
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=016909M
Vale property that surrounds Lucky
Actual Expenditure = $50,664.34
http://gis.geosurv.gov.nl.ca/mrinquiry/License.asp?License=017004M
Numerous claims adjoining the southeast portion of Cache's Louil Hills property are presently being held and explored for their REE-Y potential by KAT Exploration.
www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8153264
To view Geology Compilation map, please copy and paste the following url into a new browser window: http://thenewswire.ca/client_files/2011-05-03-0.jpg
Numerous claims adjoining the southeast portion of Cache's Louil Hills property are presently being held and explored for their REE-Y potential by KAT Exploration. Furthermore, historical drilling results were successful in locating dark green siltstones that have been interpreted as similar to those found at the Red Cliff property presently held by VALE Exploration for their noteable Cu-Ag potential
To view Geology Compilation map, please copy and paste the following url into a new browser window: http://
Actually its three different companies that keep referring to the potential of KATX and its location in the Louil Hill and the Musgravetown formation. Minerals are being found in these location with similiar Malfic and felsic volcanic flow look at their maps....they found coppe.
http://rareearthinvestingnews.com/3195/cache-exploration-inc-rare-earth-exploration-in-canada/
notice the claims next to the cache claim it is KATX....
http://rareearthinvestingnews.com/files/2011/03/Louil_lg.jpg
The Louil Hills property is located in eastern Newfoundland on the Bonavista Peninsula, in close proximity to Musgravetown. The property is composed of 94 claims that total 5,569.5 acres. The Louil Hills is close to a small airstrip, powerlines and a water supply. Route 233 and a paved road intersect the property, which provides Cache with access via logging roads and trails. By incurring exploration expenditures and payments to the vendor, Cache has the possibility to obtain an 80% interest in the Louil Hills property.
Previous detailed geological mapping, sampling geochemical, and geophysiscal surveys, as well as drilling were completed by Cornerstone Resources on the property. Mineralization has revealed Zr-Nb-Y as well as Cu and Pb hosted within felsic volcanic rocks and mafic dykes. Due to a 570 ppm Y and 490 ppm Nb in the Bull Arm Formation, the Louil Hills property is a highly favourable exploration target in Newfoundland.
Cache has recently completed a ground exploration program. The program consisted of scintillometer prospecting, geological reconnaissance and collection of surface samples. The purpose of the Phase 1 program was to identify potential drill targets for the Phase 2 follow-up program in the fall of 2011
Pike and Cornerstone
Seems like there must be something in the ground if these guys are staying....
Timothy Froude, P.Geo., Senior VP Exploration: Extensive experience in Newfoundland geology and mineral deposits; instrumental in building property portfolio at Cornerstone Resources; previous successes include discovery of Valentine Lake gold prospect for BP and involvement in discovery of Bobby Pond's VMS deposit for Inco.
Timothy Froude graduated from the Memorial University of Newfoundland in May 1988 with a Bachelor of Science (Geology) degree. Mr. Froude is past Executive Director of the Newfoundland and Labrador Chamber of Mineral Resources, where he remains a director. He is a member of the Associate Fellow Geological Association of Canada (GAC) and the Association of Professional Engineers and Geoscientists of Newfoundland (APEGN).
J. Wayne Pickett, P. Geo., General Manager – Exploration: Mr. Pickett has over 25 years experience in mineral exploration in various parts of Canada, Mexico, Peru, Colombia and Ghana. He was part of the geology team that discovered the Collins Bay "B" Uranium Deposit in northern Saskatchewan for Gulf Minerals and the Bobby's Pond VMS Deposit for Inco in Newfoundland.
Mr. Pickett received his Master of Science, Earth Science (Geology) from the University of Newfoundland in 1989. He is a Registered Professional Geoscientist and a member of the Association of Professional Engineers and Geoscientists of Newfoundland and the Association of Professional Engineers and Geoscientists of British Columbia.
Tim Froude was one of P. Geo's that claims that Rusty Ridge has Olympic Dam potential...and he's not the only one. Still searching on the others.
See page 3 of this report...
Great Summary....
excellent potential for discovery of Rare Earths
Quote:
--------------------------------------------------------------------------------
Kat Exploration Inc. an exploration company based in Mount Pearl Newfoundland has made several discoveries of Rare Earth Metals on properties immediately adjoining those of F &P. Kat is also targeting copper and base metals in the area. The president of Kat Exploration is Mr. Ken Stead a seasoned professional with years of experience in exploring for stratiform copper deposits, Gold and Rare Earth Minerals. Mr Stead was one of the founders of Cornerstone resources, a company that conducted the early detailed exploration work in the area.
Cache Exploration Inc recently optioned a 37 claim 925 hectare property to the immediate north and directly adjoining the Pike Property. The company (Cache) optioned the property as part of a larger package of claims that includes the Cross Hills property (63 claims) is located in south-eastern Newfoundland. Cache believes that the prealkaline and prealkaline related volcanic and high level plutonic rocks of the Bull Arm Formation hold excellent potential for discovery of Rare Earths and other minerals. Cache Exploration Inc is a mineral exploration and development Company, headquartered in Vancouver BC is, with a focus on rare earth mineral deposits in Canada.
Additional mineral claims have now been staked to the north of the Cache Exploration Inc acquisitions and Kat Exploration has also added to their land holdings to the south.
--------------------------------------------------------------------------------
http://www.mineprospector.com/documents/Pike_Property_Report.pdf
The fact that Mr Picket used Mr Wheeler as a reference at Vale may be most telling...
Title:Using stochastic borehole seismic velocity tomography and Bayesian simulation to estimate Ni, Cu and Co grades.
adsabs.harvard.edu/abs/2010EGUGA..1213289P
Authors Perozzi, Lorenzo; Gloaguen, Erwan; Rondenay, Stephane; Leite, André; McDowell, Glenn; Wheeler, Robert
Affiliation:
AA(Institut National de la Recherche Scientifique, INRS-Eau, Terre et Environnement, Université du Québec, Québec, Canada), AB(Institut National de la Recherche Scientifique, INRS-Eau, Terre et Environnement, Université du Québec, Québec, Canada), AC(Department of Earth, Atmospheric and Planetary Sciences, Massachusetts Institute of Technology , Cambridge, United States), AD(Vale Inco, Toronto, Canada), AE(Vale Inco, Toronto, Canada), AF(Vale Inco, Toronto, Canada)
Indeed, this non-intrusive technique allows inferring the mechanical properties of the ground using travel times and amplitude analysis of the transmitted wavelet between two boreholes, hence provide additional information on the nature of the deposit. Commonly used crosshole seismic velocity tomography algorithms estimate 2D slowness models (inverse of velocity) in the plane between the boreholes using the measured direct wave travel times from the transmitter (located in one of the hole) to the receivers (located in the other hole). Furthermore, geophysical borehole logging can be used to constrain seismic tomography between drill holes. Finally, this project aims to estimate grade of economically worth mineral by integrating seismic tomography data with respectively drill core measured grades acquired by Vale Inco for one of their mine sites in operation.
Vale and KATX Vale and Cornerstone Vale and Cache...Great map...
That was before additional claims were added it is now much larger.
Handcamp Cu; Au; Ag2.27 million metric tons ore
http://apps1.gdr.nrcan.gc.ca/gsc_minerals/gquerycache/vms/DP/dp176.html
WORLD MINERAL DEPOSIT DATABASES
Society of Economic Geologists and Geological Survey of Canada
176
Canada (Newfoundland and Labrador)
49.16.55 N -- 056.04.50 W
Handcamp Cu; Au; Ag
Database name:World Volcanogenic Massive Sulphide Deposits
Custodial agency:Society of Economic Geologists & Geological Survey of Canada
Compilers:J. M. Franklin, H. L. Gibson, I. R. Jonasson, and A. G. Galley
Release date:2009-01-02
Deposit name(s):Handcamp (deposit name)
Political location(s):Canada; Province or state: Newfoundland and Labrador NTS map data:012H08 (Springdale)
Deposit clan (type):Volcanogenic massive sulphide
Deposit (sub) types:Mafic backarc ophiolite; 2
Geologic province:Appalachian
Geologic subprovince:Betts Cove
Commodities:Cu; Au; Ag
Geological ages:Early Ordovician (host rocks)
Radiometric ages:Age - Ma: 475; Event dated: mineralization; Interpretive comment: approximate age reported in SEG Centennial Volume appendix References:
Energy, Mines, and Resources, Canada, 1989
Canadian Mineral Deposits Not Being Mined in 1989
Mineral Resources Bulletin , Energy, Mines and Resources Canada, Publication code MR2-223, 400 p.
Resource data:
Disclaimer - Reserves/Resource Data
Her Majesty the Queen in Right of Canada, represented by the Minister of Natural Resources (NRCan) does not warrant or guarantee the accuracy, completeness or fitness for any purpose of Reserve and Resource information (Data) contained in this database, including whether the Data is compliant with any securities regulations or standards, and NRCan does not assume any liability with respect to any damage or loss incurred as a result of the use made of the Data.
Resource and reserve figures are historical in nature. The Data source provided with each set of figures should be cited if the Data are re-reported.
2.27 million metric tons ore; Combined with production?: no; Provisional entry?: no; Resource category: geological resource
Grade-commodity information:
Cu: 2.62 percent
Au: 1.34 grams/metric ton
Ag: 56 grams/metric ton
Vale is all over this map.....
Dont know how many employees but it sure is interesting....the Cornstone, Cache, INCO Vale and KATX connections....
http://www.katexploration.com/news/Geologist_Resume.pdf
R. James Weick M.Sc. (Earth Science), P.Geo.
2005 to Present
Professional Geologist (practicing) registered with PEG-NL providing contract geological service to mineral exploration / mining
companies.
Previous
Voisey’s Bay Nickel Company, St. John’s, Newfoundland (2002): core logging, drilling supervision during bulk sampling of Ovoid /
Mini-Ovoid orebodies, Voisey’s Bay Ni-Cu-Co orebody, Labrador.
References
Shawn O’Brien, P.Geo. Section Head seanobrien@gov.nl.ca
Geoscience Publications and information Section
Government of Newfoundland and Labrador
Robert Wheeler, P.Geo. Geologist Robert.Wheeler@valeinco.com
St. John’s Corporate Office
Vale Inco Inc.
Rick-UK
Friday, October 15, 2010 3:27:41 AM
Interestingly, Tim Froude and J. Wayne Pickett share a common background - both of them worked on IOCG and VMS properties for Crosshair and both of them were part of the team that discovered the Bobby's Pond VMS Deposit for Inco (that's VALE) in Newfoundland...
Vale has deals as operators and consultants with two other properties next to Rusty Ridge..... and they have been delayed..
sounds like the same problem KATX is having....just wondering...
Saturday, March 26, 2011 1:12:33 PM
Re: warant post# 75
Post # of 86
The delay with Vale seems to be that this project is far down on their list of priorities. With them being the operator and the local contact that CGP had, has been transferred or left (Not sure which)CGP is now left with dealing with Brazil and there has been a slow down in the communication . Hopefully Vale will see fit to get their NR out sooner rather than later. Lets hope the news is good enough to warrant further drilling
New Vale President May 22
How many KATX employees have a Vale Inco connection?
http://www.bloomberg.com/news/2011-04-05/vale-names-ferreira-ceo-as-agnelli-leaves-after-criticism.html
Vail Canada’s Inco
A former banker at Brazil’s Banco Bradesco SA (BBDC4), Agnelli oversaw more than $84 billion in investments and acquisitions at Vale between 2002 and 2010, including the purchase of Canadian nickel miner Inco Ltd. in January 2007 for C$19.4 billion ($20 billion). Vale sold units and assets amounting to $3.95 billion over the period, according to the company’s website
Vale Exploration Canada (Formerly Inco) has recently taken a large land position on the Bonavista Peninsula area by way of staking and has also optioned considerable property in the area from Cornerstone Resources. Vale Exploration Canada is now actively exploring more than 50,000 hectares of exploration lands on the Bonavista Peninsula region of Newfoundland. The Vale lands are located near to the Pike property and adjoin certain other mineral claims held by F&P. At the time of writing Vale has mobilized exploration teams to the area.
Kat Exploration Inc. an exploration company based in Mount Pearl Newfoundland has made several discoveries of Rare Earth Metals on properties immediately adjoining those of F &P. Kat is also targeting copper and base metals in the area. The president of Kat Exploration is Mr. Ken Stead a seasoned professional with years of experience in exploring for stratiform copper deposits, Gold and Rare Earth Minerals. Mr Stead was one of the founders of Cornerstone resources, a company that conducted the early detailed exploration work in the area.
Cache Exploration Inc recently optioned a 37 claim 925 hectare property to the immediate north and directly adjoining the Pike Property. The company (Cache) optioned the property as part of a larger package of claims that includes the Cross Hills property (63 claims) is located in south-eastern Newfoundland. Cache believes that the prealkaline and prealkaline related volcanic and high level plutonic rocks of the Bull Arm Formation hold excellent potential for discovery of Rare Earths and other minerals. Cache Exploration Inc is a mineral exploration and development Company, headquartered in Vancouver BC is, with a focus on rare earth mineral deposits in Canada.
Additional mineral claims have now been staked to the north of the Cache Exploration Inc acquisitions and Kat Exploration has also added to their land holdings to the south.
Looks like copper.... on the KATX claim,
http://thenewswire.ca/client_files/2011-05-03-0.jpg
VALE seems to be focus on same siltstones as KATX
Numerous claims adjoining the southeast portion of Cache’s Louil Hills property are presently being held and explored for their REE-Y potential by KAT Exploration. Furthermore, historical drilling results were successful in locating dark green siltstones that have been interpreted as similar to those found at the Red Cliff property presently held by VALE Exploration for their noteable Cu-Ag potential.
www.usediqaluit.ca/cache-commences-louil-hills-exploration-program/
The Newfoundland Geological Survey’s “Geoscience Online” database and a compilation by Cache of previous reports of work indicate 11 Cu-Ag-Au occurrences on these properties (see attached map). One such occurrence noting up to 12.1% Cu, 3.02 oz/ton Ag, and 2,130 ppb Au within the Louil Hills claim boundaries that is one of the priority targets to be located and sampled in detail. In addition, the channel sampling of the peralkalic REE-Y rich zones found as a result of Cache’s 2010 Louil Hills exploration program will be extended
Nice map, took them from 2009 to 2011 sound good and looks good for KATX in 2011
http://rareearthinvestingnews.com/files/2011/03/Louil_lg.jpg
The Louil Hills property is located in eastern Newfoundland on the Bonavista Peninsula, in close proximity to Musgravetown. The property is composed of 94 claims that total 5,569.5 acres. The Louil Hills is close to a small airstrip, powerlines and a water supply. Route 233 and a paved road intersect the property, which provides Cache with access via logging roads and trails. By incurring exploration expenditures and payments to the vendor, Cache has the possibility to obtain an 80% interest in the Louil Hills property.
Previous detailed geological mapping, sampling geochemical, and geophysiscal surveys, as well as drilling were completed by Cornerstone Resources on the property. Mineralization has revealed Zr-Nb-Y as well as Cu and Pb hosted within felsic volcanic rocks and mafic dykes. Due to a 570 ppm Y and 490 ppm Nb in the Bull Arm Formation, the Louil Hills property is a highly favourable exploration target in Newfoundland.
Cache has recently completed a ground exploration program. The program consisted of scintillometer prospecting, geological reconnaissance and collection of surface samples. The purpose of the Phase 1 program was to identify potential drill targets for the Phase 2 follow-up program in the fall of 2011
Its the basalts.....
Samples were sent to Eastern Analytical Ltd, Springdale Newfoundland.
http://www.mineprospector.com/documents/Pike_Property_Report.pdf
The historic work described above was also reported by Hutchings, C. 1998: in a Report on geological, geochemical, geophysical, and prospecting on the Princess Property, Newfoundland, July 2 1997 to June 5 1998. (Cornerstone Resources Inc. 30 pages.) [NFLD/2678]
Ken Stead (Prospector), discovered gold-copper mineralization on June 25,1997 and performed additional sampling on the licence(5643M) in July and August of that year. Additional claims were subsequently staked by Cornerstone Resources.
An independent examination on behalf of Cornerstone Resources, by KIEX Consulting Ltd., confirmed the findings of Ken Stead. An initial systematic program, consisting of geological mapping, lake sediment sampling, aeromagnetic survey, VLF-EM, Magnetometer, Orientation Max-Min, and Apparent Resistivity, commenced in November 1997 (Hutchings, 1998). This program also covered the present Pike Property.
Pike Property Exploration History
Regionally, the area can be separated into two northerly trending fault separated belts of similar age. To the west lies the Love Cove Group, which is comprised of "volcanic flows and volcaniclastic rocks that are products of major caldera-forming eruptions". In the east are marine clastic sedimentary rocks of the Connecting Point Group, which are unconformably overlain by bimodal volcanics and clastic sediments of the Musgravetown Group (O'Brien et al., 1988). Both belts range in age between 595 and 545 million years, a time of "widespread hydrothermal alteration and significant epithermal gold mineralization", such as the Hickey's Pond and the Stewart Zone located on the Burin Peninsula, and the Hope Brook Mine on the southwest coast of the island of Newfoundland (O'Brien, 1995). Cambrian clastic sedimentary rocks unconformably overlie the Musgravetown Group to the far south of the property. The local property geology includes undeformed Late Precambrian marine siliciclastic turbidites of the Connecting Point Group(630-620 Ma) unconformably overlain by subaerial clastic sediments and bimodal volcanics of the Musgravetown Group(590-545 Ma). The latter is comprised of the Cannings Cove Formation, consisting of green and red conglomerate, sandstone and unseparated mafic flows, conformably overlain by an unnamed succession of mafic and felsic volcanics. Restricted to the northeast of the peninsula is the stratigraphically lowest unit - the Connecting Point Group, consisting of deep water submarine green, grey and black sandstones, siltstones, shales and conglomerate. Unconformablly overlying this is the Musgravetown Group. The Cannings Cove Formation, of green and red conglomerate and sandstone, lie stratigraphically above the Connecting Point Group and persist southward. Conformably overlying the Cannings Cove Formation are two volcanic units, which are mafic
Pike Property A Base Metal – REE property for Option
Page 6 of 18
and felsic in composition and vary in width from 500 to 1500 m. This NNW striking, moderately dipping succession is almost horizontal in the central area of the peninsula. The volcanics are undeformed and metamorphosed to prehnite-pumppellyite facies. The mafic unit is a dark green, red, vesicular and amygdaloidal basalt with minor tuff, agglomerate and breccia. Stratigraphially above this is a felsic unit comprised of red pink and purple flows and pyroclastic rocks. Minor gabbroic and dioritic bodies are also present. Faults are numerous, trending NNW-SSE, NE-SW and E-W, and often intersecting (O'Brien, 1993).
Sounds like KATX and VALE will be busy
http://www.wallstmoney.com/viewarticle.aspx?id=392550
The two Louil Hills claim groups of 37 and 57 claims total 23.5 hectares. This exploration program is a follow-up on the very encouraging results found last field season on the peralkaline REE+Y igneous suite, and the Cu-Ag mineralization in the region that is a spatially associated basaltic and sedimentary sequence. The Newfoundland Geological Survey’s “Geoscience Online” database and a compilation by Cache of previous reports of work indicate 11 Cu-Ag-Au occurrences on these properties (see attached map). One such occurrence noting up to 12.1% Cu, 3.02 oz/ton Ag, and 2,130 ppb Au within the Louil Hills claim boundaries that is one of the priority targets to be located and sampled in detail. In addition, the channel sampling of the peralkalic REE-Y rich zones found as a result of Cache’s 2010 Louil Hills exploration program will be extended. This lithogeochemical and surficial material sampling program will be supported by spectrometry, as both styles of mineralization can be associated with anomalous radioactivity.
Numerous claims adjoining the southeast portion of Cache’s Louil Hills property are presently being held and explored for their REE-Y potential by KAT Exploration. Furthermore, historical drilling results were successful in locating dark green siltstones that have been interpreted as similar to those found at the Red Cliff property presently held by VALE Exploration for their noteable Cu-Ag potential.
Cache Exploration is a well funded company with a focus on exploring for REE deposits. Cache is exploring the Welsford REE Properties in New Brunswick, the Cross Hills REE and the Cross Hills Northern IOCG Properties in Newfoundland (adjacent to the Rockbridge Resources REE Property), and the Louil Hills REE and Cu-Ag properties in Newfoundland. All the above Cache REE properties have proximity to available infrastructure and are considered to have excellent potential for rare earth mineralization.
Tim Froude and J. Wayne Pickett and Sean Obrien have all work together before....
http://thenewswire.ca/client_files/2011-05-03-0.jpg
http://www.thenewswire.ca/archives?tnwarchive2=release_id%3D3613
Excellent KATX summary Thanks for all your hard work.....
Olympic Dam-type deposits
whereas the subgroup that contains significant amounts of copper-sulfide minerals
and uranium are termed Olympic Dam-type deposits (Model 29b).
pubs.usgs.gov/of/1995/ofr-95-0831/CHAP22.pdf
Magnetite deposition and sodium-rich alteration zones predominate in the deeper (hotter) parts of these systems, whereas hematite, copper-sulfide minerals, and potassium-rich alteration are more prevalent in their shallower parts (fig. 1).
Great KATX DD more complete than the Ibox
EXCELLENT RUSTY RIDGE DD SUMMARY