Twilite May be even bigger than Handcamp, something like 202 g/t au and visible gold, Katx bought it and and then expanded it..Set for assays this season.
Kat Exploration Inc. Announces Option Agreement to Purchase 100% of the "Twi-Lite" High Grade Gold Property
MOUNT PEARL, NL -- (Marketwire)
12/21/09
Kat Exploration Inc. ("Kat") (PINKSHEETS: KATX) www.katexploration.com
The company is pleased to announce that further to its news release on
December 9, 2009 of a LOI it has now completed the signing of an option
agreement with Steve Courtney, a senior prospector for the Twi-Lite gold
property consisting of 48 claims, located 14 kilometers southwest of Grand Falls-Windsor, Newfoundland.
Kat has agreed to acquire a 100 percent interest in the Twi-Lite property
during a three-year period in consideration of total cash payments of
$144,000, which includes a payment of $18,000 on signing $30,000 on first
anniversary of the option agreement, $46,000 second anniversary and $50,000
third anniversary. No shares of Kat Exploration are involved in the deal.
"
Some results to date:
The Discovery Prospect: Zone of quartz veining and associated
silicification, high of 202 g/t Au (Visible Gold).
The Spring Pit prospect: bedded pyrite/mafic fault gouge (high of 14.9
g/t).
The 320 Vein: zone of quartz veining and quartz breccias (high of 16.6
g/t).
The Paddy's Pitt prospect: silicified and brecciated siltstone (high of
23.80 g/t).
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