KAT Exploration, Inc. announced this morning that it has accepted a drill contract tender from Cabo Drilling to drill 15 holes of 1200 meters. The drilling will take place on KAT’s Handcamp property in Newfoundland and is scheduled to commence on the second week of May.
Cabo Drilling Corp. is an international mineral and specialty drilling services provider headquartered in North Vancouver, British Columbia with division offices in key mining districts across Canada and internationally. Cabo Drilling (Atlantic) Corp. is based in Springdale, Newfoundland.
KAT announced previously in a press release on March 1, 2010 that they have discovered significant amount of gold in soil samples in outcrop at the Handcamp property. Based on these findings, KAT has staked another 52 claims to the north of the same belt of rock covering 37 square kilometers. KAT has already made a judgment that if the findings remain successful they will extend the drilling and the depth of drilling on the Handcamp property to draw a better conclusion as to true significance of the discovery.
KAT is also still developing their 100% wholly-owned “Lucky” property. Trenching and drilling on this property has yielded significant copper finds. With each new copper find, KAT believes that larger corporations will be enticed to pursue the idea of a joint venture on the “Lucky” property.
Also discussed in the article was the idea of KAT moving to the Over the Counter Bulletin Board exchange. Being that the OTCBB exchange is more respected than the pinksheets, the KAT management believes more serious investors will be interested in them which will allow for greater future developments.