Foster River Project, Saskatchewan - Anomalous Mobile Metal Ions (MMI-M)
Soil Geochemical Anomalies Identified Along a Four Kilometer Grid
WINNIPEG, April 24 /CNW/ - Wildcat Exploration Ltd. (WEL - TSX.V).
The company is pleased to announce the results of a large Mobile Metal Ions (MMI) soil geochemical survey undertaken on the Foster River Zn-Pb-Ag property, 120 km north of La Ronge, Saskatchewan, Canada, in 2006. This survey documented the presence of high-contrast multi-element and multi-sample, base and precious metal anomalies.
The anomalies comprise Pb, Zn and Ag with maximum concentrations of 88,000 ppb (or 2528 times background), 8,750 ppb (or 875 times background) and 351 ppb (or 702 times background). These highly anomalous results are persistent and extensive. For Ag, a total of 50 samples or 5.2% of the total sample population have responses greater than 25 ppb signifying a strongly elevated anomaly. Comparable results for Pb (37 samples or 4% of the total population have responses greater than 1700 ppb) and for Zn (44 samples or 5% of total population have responses greater than 500 ppb) were obtained and signify a large anomalous response for these elements. Anomalies occur in both areas of known mineralization and areas that received minimal exploration over a 4.8 kilometer strike length.
A sample spacing of 25 meters along 100 meter spaced lines was determined adequate to determine significant base metal responses for the soil survey. A total of 1,094 samples were collected from the grid.
The Pb-Zn-Ag anomalies attain widths of up to 150 m and form coincident anomalous responses on the survey grid. This element assemblage is interpreted to be significant in terms of the Broken Hill-type of sediment-hosted base and precious metal mineralization documented from the property.
The report and data were received April 20, 2007 and the results are currently being integrated with Wildcat's geophysical and geological database.
"The strong results using this technique add another significant level of information to our understanding of the potential size of this project." commented Jerrold Siemens, President and CEO. "Coupled with the ongoing success of our activities in the Rice Lake Mineral Belt on the Jeep Au-Cu-Ni-PGE Project, we are committed to make this year a success for all shareholders."
The design, implementation, sample collection and interpretation of the MMI surveys in 2006 was undertaken by Mount Morgan Resources Ltd. Soil samples were analyzed in the laboratories of SGS Mineral Services (Toronto, Ontario). 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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