morning Cisco, something for the family to read perhaps
KATX - Kat Exploration Report on Recent Discoveries on its “Lucky” Property
Kat Exploration (OTC-Pink Sheets: KATX) is happy to report that its exploration program carried out this summer on its 100% wholly owned “Lucky” Property has been a real success.
Copper mineralization is quite visible in an old pit near a gravel road and impressive malachite staining along with chalcocite is strata bound within the more sandy beds of the sediments.
The horizon that contains the mineralization has been traced for approximately 8 miles with copper mineralization at a thickness of 300ft in places.
Assay results of 2.5% Cu were discovered in the most exposed areas within this horizon. The most recent work uncovered several large areas of semi-massive to well disseminated chalcopyrite approximately 4 miles on strike from the open pit which reveals the highest copper grades to date.
This type of environment has the potential to produce low grade, large tonnage copper deposits similar to those of the Zambia copper belt.
To secure an area of interest the company recently staked 1225 acres of new land mass where some recent grab samples produced copper results of .5% along with anomalous gold.
More ground work is planned for the Northern portion of the property where the most recent copper occurrences were discovered.
In its future endeavors the company would hope to ensure non-dilutive options where the merits of the projects will fund the operations. As one of the co-founders of Cornerstone Resources Inc., who had done joint ventures with major mining companies such as Noranda, Phelps Dodge, and other major companies, Mr. Stead is quite familiar with world class mining companies and is confident in bringing their interest to Kat’s projects as they move forward. Future press releases will provide more updates to confirm more guidance on the direction of the company.
At this time the board of Directors would like to inform investors who have voiced concerns regarding the amount of the KATX authorized shares.
The Company has 3 billion shares authorized. The authorized includes three separate series of reserved shares of which two are non-dilutive. These two series of reserved shares are equal to the fully diluted voting capacity of 66% of the Company’s controlling interest to protect the company from any hostile takeover. Therefore, there are actually only approximately 500,000,000 shares available for common issuance within the authorized shares.
About Kat Exploration Inc
Kat Exploration’s principal objective is to locate, stake, prove up and sell mineral properties to major mining companies. It is the Company’s objective to take advantage of increased activity to generate numerous joint venture clients, and sales of our existing and yet to be acquired properties.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Kat Exploration Inc. to be materially different from the statements made herein.
