KAT Exploration Inc. Purchases HANCOCK Gold Mine Located in Deming New Mexico
April 27 2015 - 8:30AM
Access Wire
MOUNT PEARL, NF / ACCESSWIRE / April 27, 2015 /
KAT Exploration, Inc. (PINKSHEETS: KATX) ("KATX") is pleased to
announce its purchase of the HANCOCK gold mines Deming New
Mexico.
One of the largest and certainly the most productive gold and
silver mine of the Tres Hermanas mining district, consisting of a
collection of mines.
The mine shafts are interconnected underground with a series of
drifts and raises.
There are 3 primary shafts that are all cut on the same lode and
then the last, open shaft has a short drop to where it intercepts
with the underground drifts. The head frame at the main portal
would facilitate the dragging of the cars through the mine and out
to the waiting separation piles.
The HANCOCK mine is located approximately an hour's drive south
of Deming, New Mexico.
The tailings are very distinct in their colors. Dark iron
stained rock and substantial quartz are mixed with some galena ore.
There is a large high grade tailings pile at the main portal
containing very impressive gold ore that can be seen running along
the quartz body.
The surveyors reported clean, open shafts with substantial
reserves noted in the shafts above the main portal. There is still
much value in this mine in that gold can be seen with the naked
eye. This gold can be crushed and panned or sluiced out for easy
gold recovery. The galena and silver can be shipped to various
smelters in the area for processing.
The Bisbee branch of the El Paso & Southwestern railroad
passes within several miles of the properties. This group of mines
has been developed by upwards of 600 feet of shafts and 200 feet of
drift work.
At the bottom of a sixty foot shaft there is exposed a 26 Inch
ore body that runs 55 ounces silver, 15% lead, 8.8% copper and .32
ounces of gold.
In another shaft, 144 feet in depth, the 8 inch streak at the
surface has widened to nineteen and one half inches, with an
average of .42 ounces of gold, besides silver, lead and copper.
Further updates will be made available as we proceed with our
next phase of work.
This is the second of our two mines in the state of New Mexico
and we are excited to begin the process of reawakening these mines
and generate revenues for the company. Just has our RED HILL mine
so to the HANCOCK gold mine contains a large stock pile of tailings
that will become the early focus of our work.
Further information and photos can be viewed on the company
website.
Forward-Looking Statements:
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.
Contact:
Ken Stead - President/CEO
Kat Exploration Inc.
Website: www.katexploration.com
Email: kstead@katexploration.com
SOURCE: Kat Exploration Inc.
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