WEL - TSXV
CALGARY, July 12 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) announces the results of the final five of thirty-six drill holes completed on the Jeep Project in the Rice Lake greenstone belt in southeastern Manitoba.
The 8,235 meter drill program achieved the following results:
- successfully tested and further outlined the northwest and
southeast prolongation of the No. 1 vein system of the former
producing Jeep Gold Mine, bringing the potential total strike
length to 1.1 kilometers
- confirmed the presence, at depth, of elevated nickel-copper-
platinum group elements ("Ni-Cu-PGE") associated with a magnetic
anomaly 300 meters southeast of the Jeep Mine shaft area (see
News Release April 03, 2007)
- extended the depth of the No. 3 vein system of the Jeep Mine to
approximately 40 meters below the historic mine workings (see
News Release June 22, 2007).
The drill results announced today cover the final stage of the 2006-2007 drill program with drill holes JP-07-32, through to JP-07-36. This stage targeted an extensive MMI (Mobile Metal Ion) soil arsenic anomaly, 450 meters long by 200 meters wide, in an area 750 meters southeast of the Jeep mine shaft and along trend of the No. 1 vein.
Holes JP-07-32 to -34 were drilled 700 to 800 meters southeast of the Jeep Mine shaft drilled with a 50 meter separation along strike.
Drill hole JP-07-32 was collared 800 meters southeast of the Jeep Mine shaft and intersected two weakly mineralized veins. From 183.5 to 184.5 meters, 0.38 gpt gold was intersected over 1.0 meter and from 205.75 to 206.75 meters 0.16 gpt gold was intersected over 1.0 meter. Hole JP-07-33 was drilled 50 meters northwest of JP-07-32 and intersected 1.44 gpt gold over 1.0 meter from 214.7 to 215.7 meters. No significant results were obtained from hole JP-07-34.
These intersections may represent the southeastern-most prolongation of the No. 1 vein system southeast of the Jeep Mine shaft. The vein system also extends further to the northwest of the Jeep Mine shaft (see press release dated June 22, 2007) for a potential total strike length of 1.1 kilometers. This extensive structure invites further testing.
Holes JP-07-35 and -36 were drilled to test for the proposed southeastern extension of the Ni-Cu-PGE occurrence and the No.1 vein system. Hole JP-07-35 was drilled 360 meters southeast of the main Ni-Cu-PGE showing area (525 meters southeast of the Jeep Mine shaft). Hole JP-07-36 was collared 100 meters southeast of hole JP-07-35. No significant results were obtained from these holes.
All widths reported are apparent widths and not true widths.
Currently, summer field work is being conducted on the Jeep property with mapping, prospecting and sampling in order to further refine and generate future drill targets.
Wildcat's 2006-7 exploration program on the Jeep Property, one of the Company's four property groups in the Rice Lake greenstone belt, is being managed by Tim Tuba, P.Geo. and Peter Theyer, P.Geo.; both are Qualified Persons as defined by NI 43-101. Technical and GEMS support were performed by Sasha Herwig, B.Sc.Hons. Geology. Drill cores were cut in half using a diamond saw, with one-half placed in sealed bags and shipped to TSL Labs in Saskatoon, Saskatchewan. A sample quality control/quality assurance program has been implemented. All technical information in this release has been reviewed by Tim Tuba, P.Geo. as the Qualified Person.
Wildcat is a Winnipeg-based company exploring for gold and base metals in Canada. Project areas in Manitoba are centered in the Rice Lake greenstone belt and the Flin Flon/Snow Lake mineral district. In Saskatchewan the Company is focused on its Foster River/Hewetson Lake zinc-lead-silver project. Wildcat welcomes proposals from owners of advanced exploration properties in Canada. For further information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca.
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 information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information, including risks associated with the mineral exploration and mining industry such as economic factors, government regulation and approvals, environmental risks, success of exploration activities, future commodity prices, capital expenditures, requirements for additional capital, changes in project parameters as plans continue to be refined, conclusions of economic evaluations, the Company's history of operating losses and uncertainty of future profitability. Important factors that pertain to the risks and uncertainties associated with the Company's business are discussed more fully in the Company's disclosure documents filed from time to time with the Canadian securities regulators and available on www.sedar.com. Although Wildcat has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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