MOUNT PEARL, Newfoundland, Oct. 11, 2012 /PRNewswire/ -- KAT Gold Holdings Corp. (OTCQB: BVIG) www.katexploration.com is pleased to announce that Thomas Brookes, the Managing Director for African Operations has been in Ghana for 6 weeks and has now established a permanent office in Accra, Ghana.
Ken Stead, President/CEO of KAT Gold Holdings Corp. stated, "This office will be the base for KAT Gold Holdings in Ghana from which to oversee the Ekom Eya gold mine operations as well as securing new concessions and opportunities in the region."
The company will now progressively build on its plans for heightened activity at the mine and organize a work force to move production forward.
The Ekom Eya project has an Inferred resource of 1,380,887 tons @ 6.0g/t (266,380 ozs) (based on 17 hole drill results), with intersections between 2m-8m with grades up to 24g/t. A waste dump in the area is estimated to have 30,000t with reported grades up to 9g/t along with a tailings estimated at 60,000t grading up to 21.2g/t bringing the Ekom Eya gold resource to approximately 300,000 ounces thus far with potential for increase as further exploration continues along strike and at dept.
About KAT Gold Holdings Corp.
KAT Gold Holdings Corp. (OTCQB:BVIG) is an emerging entity whose primary goal is to obtain a high-quality portfolio of creditable mining and mineral exploration properties ranging from advanced to revenue producing projects, each of which would be deemed to have superior potential for mineable ore bodies. Commodities of interest are precious and base metals with particular emphasis on gold, silver and copper. Kat Gold Holdings Corp. has gold, silver, copper and rare earth exploration properties in Newfoundland and a gold project in Ghana.
This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding our anticipated gold production, our expected growth and our ability to compete within the African gold mining industry. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, a failure of our new mine to produce the anticipated quantity of gold, our failure to obtain the necessary funding to conduct our anticipated operations, our ability to successfully integrate the new management and other factors described in our report on Form 10-K and any other filings with the SEC. The information in this release is provided only as of the date of this release, with no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
President & CEO
KAT Gold Holdings Corp.
SOURCE KAT Gold Holdings Corp.