WINNIPEG, March 5 /CNW/ - Wildcat Exploration Ltd. (TSX-V:WEL) is pleased to announce the results of its summer 2006 exploration program. The Company's field crew completed an exploration program in August, which included detailed geological and structural mapping, rock and soil sampling, and prospecting of the known mineral prospects.
"We are pleased with the results achieved to date by our geological team," said Chairman Jerrold Siemens, Interim President of the Company. "From acquisition of the property in late 2004 to the recent surface exploration program in 2006, the project is advancing well. Dr. Paul G. Spry, Professor of Economic Geology, Iowa State University, recognized exciting parallels between the Foster River Property and the world class Broken Hill Pb-Zn deposit in Australia from work initiated by the Company in fall 2005."
Significant alteration was recognized on the Foster River Property: quartz garnetite was identified in the footwall of the zinc-lead-silver mineralized quartzite horizons. Laminated quartz garnetite at the Sito West occurrence is identical to banded quartz garnetite that is intimately associated with the lead lode orebodies at Broken Hill whereas massive quartz garnetite at the Sito East occurrence resembles quartz garnetite that is located in the stratigraphic footwall of the large Black Mountain BHT deposit, Aggeneys, South Africa. Such garnet-rich rocks (usually Mn-bearing) are considered to have been either metamorphosed exhalites and/or alteration zones formed from the same fluids that transported the ore-forming metals and are characteristic of BHT deposits, in general.
Coarse grained sillimanite-rich rocks identified at the Sito East occurrence, are identical to so-called "pod-rocks" spatially associated with metamorphosed massive sulfide deposits worldwide. Such rocks are common in stratabound hydrothermal alteration zones, where most elements have been leached out leaving aluminum rich residues.
A petrological and mineralogical study of samples collected from the Sito East, Sito West and Fable Lake areas was conducted by Dr. Paul G. Spry, Prof. of Economic Geology, Iowa State University, in spring of 2006. The focus of the study was to compare the mineralization at Foster River with Broken Hill-type mineralization and to evaluate the potential of using the composition of gahnite (a zinc mineral) and garnet as guide to mineralization in the Foster River area.
Gahnite was analyzed and was found to have a composition essentially identical to that of the "C" and "B" lodes at Broken Hill deposit. Garnet compositions were also analyzed from the Foster River area and found to have Fe-Mn compositions similar to those in most garnet-rich rocks surrounding the Broken Hill Deposit (excluding Ca-rich garnet from 2 lens). It would appear that gahnite composition is an excellent guide to sulfide mineralization in the Foster River area, consistent with the findings of Spry and Scott (1986) and Heimann et al. (2005) for gahnite from other terrains worldwide. Of great significance, is that the composition of gahnite from the Foster River area is similar to that from the Broken Hill deposit and deposits in the Aggeneys area.
Quartz garnetite and gahnite-bearing horizons that host the mineralized horizon on the Foster River property closely resemble lode rocks in the Broken Hill area, and in some cases are virtually indistinguishable. The mineralization at Foster River is hosted in graphitic and magnetite-bearing rocks similar to those observed in the Aggeneys area while in other places calcite- and pyroxene-bearing mineralization at Foster River mimics that which is observed at the No.2 lens at Broken Hill.
The Company also conducted a multi-element Mobile Metal Ion ("MMI") soil geochemical survey over the Fable Lake mineralized horizon under the direction of Dr. Mark Fedikow of Mount Morgan Resources Ltd. The samples were submitted in early February for analysis and results are pending.
All technical information in this release has been reviewed by Tim Tuba, P.Geo. as the Qualified Person on behalf of Wildcat.
Wildcat is a Winnipeg-based mineral exploration company actively exploring for gold and base metals in Canada. For further information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca.
On behalf of the Board
"Jerrold Siemens"
Interim President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
This news release may contain forward-looking statements based on some assumptions and judgments regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
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