WINNIPEG, March 19 /CNW/ - Wildcat Exploration Ltd. (WEL - TSX.V) reported today that it has received complete assay results from holes JP-06-05, JP-06-06 and JP-06-07. All three holes intersected gold-bearing quartz veins that are interpreted to represent the southeastern prolongation of the No.1 vein of the former Jeep Gold Mine (see table below).
The drill holes extend from between 200 to 350 meters southeast of the Jeep Mine shaft. All holes were drilled to test the southeastern extension of the No.1 gold-bearing quartz vein of the former Jeep Gold mine, and tested for Ni-Cu-PGE concentrations within the disseminated and massive sulphides surrounding this vein.
Significant widths of Au-Ni-Cu-PGE mineralization have also been intersected including 10.0 meters in hole JP-06-05 assaying 0.44 gpt Au, 2.4 gpt Ag, 0.31% Cu, 0.13% Ni, 124 gpt Co, 49 ppb Pd and 29 ppb Pt from 263.0 to 273.0 meters.
Intersected widths and gold concentrations of interpreted No.1 vein intercepts(x) ------------------------------------------------------------------------- Drill Hole From To Intersected width Gold No. (meters) (meters) (meters) (gpt) ------------------------------------------------------------------------- JP-06-05 219.15 219.8 0.65 109.9 ------------------------------------------------------------------------- JP-06-06 249.42 249.72 0.30 2.29 ------------------------------------------------------------------------- JP-06-07 217.8 218.1 0.30 0.38 ------------------------------------------------------------------------- (x) True widths have yet to be determined
Three separate mineralized zones have been identified containing anomalously elevated Ni-Cu-PGE values in holes JP-06-05, JP-06-06 and possibly JP-06-07. The mineralized zones are hosted within sulphide-bearing gabbro to diorite characterized by locally abundant inclusions of partially digested rock fragments.
JP-06-05
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Two zones of anomalous Ni-Cu-PGE values were intersected in this hole. The first zone was intersected from 221.55 to 224.55 m downhole and assayed 0.16 gpt Au, 2.07 gpt Ag, 0.18% Cu, 0.11% Ni, 101 ppm Co, 48 ppb Pd, 28 ppb Pt over 3.0 meters. This mineralized interval is 1.65 meters downhole from the gold intercept previously reported (see Wildcat Press Release dated December 11, 2006) of 109.5 gpt Au over a core length of 0.78 meters from 219.12 to 219.9 meters downhole.
The second zone is an extensive interval from 263.0 to 273.0 meters, which assayed 0.44 gpt Au, 2.4 gpt Ag, 0.31% Cu, 0.13% Ni, 124 ppm Co, 49 ppb Pd, 29 ppb Pt across 10.0 meters. Including 1.0 meter of 0.91 gpt Au, 4.6 gpt Ag, 0.89% Cu, 0.18% Ni, 160 ppm Co, 70 ppb Pd, 70 ppb Pt from 270 to 271 meters.
JP-06-06
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Two zones of anomalous Ni-Cu-PGE mineralization were also intersected in JP-06-06 and may correlate with the three Ni-Cu-PGE zones intersected 50 meters northwest in hole JP-06-05.
The first zone was intersected from 93.87 to 94.8 meters and assayed 0.1 gpt Au, 2.2 gpt Ag, 0.14% Cu, 0.09% Ni, 50 ppb Pd, 60 ppb Pt over 0.93 meters.
The second zone assayed 0.03 gpt Au, 1.94 gpt Ag, 0.33% Cu, 0.08% Ni, 79 ppm Co, 23 ppb Pd, 56 ppb Pt over 4.94 meters from 303.5 to 308.44 meters. Included in this intersection are 1.08 meters of 0.03 gpt Au, 0.14 Pt, 40 ppb Pd, 2.4 gpt Ag, 0.15% Cu, 0.28% Ni, 180 ppm Co from 305.8 to 306.88 meters.
JP-06-07
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This hole was drilled 50 meters southeast of JP-06-06.
The mineralized interval intersected from 270 to 272 meters downhole assayed 0.41 gpt Au, 3.0 gpt Ag, 0.26% Cu, 0.31% Ni, 50 ppb Pd, 55 ppb Pt and 84 ppm Co over 2 meters. This interval may correlate with the second zone intersected in holes JP-06-05 and JP-06-06.
Another mineralized interval from 288.47 to 289.47 meters assayed 0.1 gpt Au, 1.6 gpt Ag, 0.09% Cu, 0.15% Ni, 30 ppb Pd, 25 ppb Pt and 98 ppm Co over 1.0 meter.
A significant gold intercept was cored in a quartz vein from 291.8 to 292.1 meters, which assayed 7.61 gpt Au over 0.30 meters. Another gold intercept from 308.9 to 309.7 meters assayed 2.67 gpt Au over 0.8 meters.
Currently, hole JP-07-20 is being drilled and assays are pending for all remaining holes. The remaining drill results will be released upon receipt and analysis of the data.
Wildcat's 2007 exploration program on the Jeep Property is being managed by Tim Tuba, P.Geo. and Peter Theyer, P.Geo.; both are Qualified Persons as defined by NI 43-101. Drill cores are to be cut in half using a diamond saw, with one-half placed in sealed bags, and delivered to TSL Labs facility 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 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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