WINNIPEG, Jan. 9 /CNW/ - Wildcat Exploration Ltd. ("Wildcat") (TSX-V:
WEL) announces the commencement, today, of a diamond drill program to be
conducted in the Bissett gold mining camp. A minimum 2500 meter drill program
will be carried out on the Poundmaker and Siderock properties.
On the Poundmaker property drilling will target four areas including: the
Poundmaker deposit, Liberty showing, a mineralized fault on the Mike-Power
grid and geochemical targets associated with a regional fold south of
Wanipigow Lake.
a) The on-strike and depth potential of near surface, high-grade gold
mineralization encountered at the Poundmaker deposit in previous drilling by
Wildcat will be tested. At the Poundmaker deposit historical underground
development has extracted small tonnage but high-grade gold.
b) Preliminary drilling will examine the controls on high-grade gold
mineralization discovered at the Liberty showing during the 2005 field work.
The Liberty showing is located along the Saxton Lake fault zone, a highly
prospective shear zone that has received minimal drilling.
c) On the Mike-Power grid drilling will test a MMI geochemical anomaly
along the Gold Creek fault. The Gold Creek fault is the western extension of
the Normandy Creek fault a strongly altered shear hosting gold mineralization
currently being readied for underground production by the Rice Lake Gold
Corporation.
d) Lastly drilling will test MMI geochemical anomalies located along a
sheared and ankerite altered limb of a regional fold south of Wanipigow Lake.
The current drill program will not examine the Rio Gold Zone, a new gold
discovery made by Wildcat on the Poundmaker property late in the 2005 field
season (Press Release September 23, 2005). Drilling on this zone will commence
early in the fall of 2006 after company geologists have had an opportunity to
assimilate basic geological parameters controlling mineralization.
On the Siderock property the present drill program will pick up where the
last drill program stopped. In 2005 preliminary drilling tested several
targets on the Portage Gold Zone - a new discovery made by Wildcat in 2004
(Press Releases July 27 and October 4, 2004). Drilling encountered anomalous
gold mineralization in six of eight drill holes. The current program will
target encouraging gold intercepts encountered in the 2005 drilling and new
MMI geochemical anomalies identified from the 2006 summer work program.
The Portage Gold Zone comprises gold mineralization (grab sample assays
up to 0.67 oz/ton), found in altered and sheared felsic volcanic-
volcaniclastic rocks intruded by silicified quartz-feldspar porphyry dikes.
Gold mineralization and alteration on the Portage Gold Zone is bounded by the
Siderock Lake fault to the north and by a major crustal "break", the Wanipigow
fault, to the south. The Wanipigow fault is a structure similar to the
Porcupine-Destor and Larder-Cadillac "breaks" in the Timmins and Kirkland Lake
gold camps respectively.
The Siderock property hosts a geological environment including age, rock
composition, alteration and deformation similar to that underlying the Red
Lake gold deposits. This represents a new geological model for the deposition
of potentially important gold mineralization in the Bissett gold camp.
Wildcat will plan, implement and manage the exploration program with
Eduard Sawitzky, 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 has six properties
in Manitoba and Saskatchewan. Currently exploration is being conducted
aggressively in the Bissett gold mining camp, southeast Manitoba. Wildcat has
consolidated the largest under-explored land holdings (230 square kilometers)
in the Bissett camp. 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
"Eduard Sawitzky"
President and COO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
