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.
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
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