WINNIPEG, May 23 /CNW/ - Wildcat Exploration Ltd. (TSX-V:WEL) has
initiated an aggressive exploration program on the Rio Gold Zone within its
100% owned 156 square km Poundmaker Property in Manitoba. The program includes
integrated geological mapping, prospecting, geophysical and geochemical
surveys on the Rio Gold Zone ("RGZ"). Exploration is underway to follow up
prospects and showings developed over the past year.
The RGZ is a newly discovered gold zone contained within the very large
and underexplored Poundmaker Property. It is located in the northwestern
portion of the Property, 19 km northwest of Bissett, Manitoba. The Poundmaker
Property is the largest contiguous land package in the Rice Lake Belt. The
Poundmaker Property is also host to additional mineralized zones including the
Poundmaker Gold Deposit, the Clinton Shaft and Adit, the Saxton Lake
Deformation Zone, the Gold Creek Shear Zone as well as numerous other gold
prospects.
The RGZ occurs within an underexplored area of the Poundmaker Property
that is host to many high-grade gold showings. The proximity of some of these
prospects suggests the area may be part of a larger continuous mineralized
gold system; detailed surface exploration will test this hypothesis.
Preliminary work conducted last year in the RGZ area has produced encouraging
results. During the 2005 field season, thirteen showings were discovered
within an area 2.5 km by 1.5 km (press release dated September 23, 2005).
Significant assays from the 2005 summer field season are presented in the
table below (press release dated September 23, 2005):
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Showing Name Gold (g/t)
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Rio Showing 16.9
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Roderick Showing 21.2
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Roderick Showing 15.2
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Roderick Showing 20.3
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Roderick Showing 50.1
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Alamo Showing 9.57
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Santa Cruz Showing 5.9
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The RGZ was visited by Wildcat geologists and prospectors during the
summer of 2005 but the zone was only partially prospected and sampled. No
follow-up drilling has been conducted on the property since these initial
results.
The Company's field crew has commenced a surface exploration program,
including detailed geological mapping and sampling, prospecting and structural
mapping of the known prospects. Equipment and personnel have been mobilized to
Saxton Lake and a 10-person camp is being constructed at a location that
provides access to the RGZ. The goal is the identification of targets for a
future diamond drilling program.
In early May, 2006 line-cutting began to establish a new grid over the
RGZ. A cumulative total of approximately 50 kilometers of lines will be cut by
the end of May at which time a 10-man geological mapping and sampling crew
will be assembled to begin work on the grid. Ground geophysical surveys (Mag
and HLEM) will also be conducted on the grid during early summer.
A preliminary Mobile Metal Ions ("MMI") soil geochemical survey will be
conducted over selected showings along the grid lines, within the RGZ. MMI
geochemistry is a relatively new technique developed for detecting precious
and base metal deposits buried under thick overburden cover. An estimated 130
samples will be collected. The survey will help characterize the gold
mineralization from the showings; to guide exploration and assist in planning
for additional MMI surveys.
Exploration conducted this summer will continue to further outline gold
mineralization which will include both regional and detailed mapping, as well
as prospecting within and adjacent to the RGZ.
Geochemical, geological and geophysical data collected during the summer
field season will be used to refine drill hole locations for gold targets. It
is the intent of the company to drill these gold targets in a future drill
program.
All technical information in this release has been reviewed by Mark
Fedikow, Ph.D. P.Geo. as the Qualified Person.
About Wildcat Exploration
Wildcat is a Winnipeg-based mineral exploration company actively
exploring for gold and base metals in Canada. The company specializes in
generating projects in-house and presently has six properties in Manitoba and
Saskatchewan. Currently exploration is being conducted in the Bissett gold
mining camp, southeast Manitoba. Wildcat will explore the base metal (zinc -
silver - lead) potential of the Wollaston Domain, Saskatchewan, along with
Phelps Dodge and BHP-Billiton, companies recently active in the area.
Wildcat has consolidated the largest land holdings (230 square
kilometers) in the Bissett gold mining camp. This land holding is
strategically positioned in the Rice Lake belt to encompass a
tectono-stratigraphic environment similar to that hosting the Red Lake gold
deposits. These rocks are under-explored and have received minimal diamond
drilling. For further information on the company please visit our website at
www.wildcat.ca or contact us at info(at)wildcat.ca.
On behalf of the Board
"Sol Prizant"
President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
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