KAT Exploration Inc (KATX)

[Rick-UK]

Ah... at last! Someone wants to talk about something interesting!

Yes I agree, I think the new property was added on the 22nd, which would have been after they received the initial set of assay results back and saw the potential in Hole #2, but before they PR'd these partial results on the 23rd.



Now... my belief is that the interest now is not so much the magnetic anomoly which was explored in Hole #1 but the REEs that have turned up in Hole #2. What is interesting is that by extending the property west into Shaylee and south they are covering a much wider area than that covered by the IP, magnetic and gravity anomolies. Of course they cannot extend north (under water) or east (already claimed and indeed already explored by Ken and rejected).

Bear in mind that Shaylee never had IOCG anomolies in the first place. So let's for a moment put the IOCG concept down and focus on what we know about Shaylee. Here's what it says on the web site...

Rock Types: Sericite schist derived from felsic volcanic and epiclastic sedimentary protholiths. The region is traversed by numerous faults, most of which are high-level brittle features. The most notable of these are the Charlottetown, Salmon Brook and Platter Cove Faults and the unnamed structure that defines the western boundary of the Love Cove Group. Some of these may represent brittle reactivation of earlier, more fundamental structures. The Shaylee copper mineralization is in a rock cut on the Bunyon's Cove road. The mineralization is approx 75m wide and continues to the shoreline approximately 1km and consists of stringers of native copper, Chalcocite and Malachite staining. Continuing along the road approximately 200m, there is another copper zone containing Chalcocite and Malachite. This showing is approximately 50m wide.

So we have a series of faults containing copper, two of which are of particular note, being 75m wide by 1km long and 50m wide (no length stated) respectively...



Now... way back in the first half of the year I talked to Ken about Rusty and Shaylee and he told me that they had made some new discoveries on Rusty and that they were planning to explore Shaylee further at the same time that they drilled Rusty. Here's the second email from that conversation (it incorporates the first)...

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From: Rick-UK
To: 'Ken Stead'
Sent: Friday, April 16, 2010 9:36 AM
Subject: RE: Handcamp, Shaylee and New Claim

Hi Ken,

I hope all is going well with you and your family.

At the end of March you told me “JV ventures are always welcomed, but the Shaylee property will receive an exploration program later in the year but will get some attention as we move along with the Rusty Ridge project because it is right next to the RR boundaries.” does this mean that you have a JV in the pipeline for Rusty Ridge?

Kind regards,

Rick-UK

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From: Ken Stead [mailto:[e-mail]]
Sent: 16 April 2010 13:20
To: Rick-UK
Subject: Re: Handcamp, Shaylee and New Claim

Not Necessarily, we have made a few new and unexpected discoveries on the RR during our last period of sampling so we will continue with a program summers program of the same and spend some time on the Shaylee right next door.
Ken

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Now... I do not know anything further than what you see above, but based upon this email conversation in April and also based upon the interesting description and photos of Shaylee I have always been very excited at the possibilities there for copper. So now we can look at things two ways. We could say that RR has been extended in size to the east and south, but we could also say "forget about IOCG, Shaylee has been massively extended west and south west" if you see what I mean. Based upon the descriptions of Shaylee I would say our search for copper in the Rusty/Shaylee area may be far from over, and based upon the PR of the 23rd plus subsequent telephone and email conversations reported with Ken by other posters here, we also now have a very interesting REE opportunity on this new, extended Rusty/Shaylee property. What we certainly have is a whole new area to explore, plus further drill results to examine. This new, combined property could be very exciting for us indeed!