WINNIPEG, MB, May 23 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) The Company is pleased to announce additional results from the diamond drill program conducted on the Jeep Project in the Rice Lake Greenstone Belt in southeastern Manitoba. Significant gold values include 36.04 gpt gold over 0.30 metres intersected from 99.17 to 99.47 metres in hole JP-07-18.
This portion of Wildcat's Jeep Project 2007 drill program targeted the area immediately southeast of the historic Jeep mine to 1) test the southeastern prolongation of the No.1 gold-bearing quartz vein system of the historic Jeep Gold mine, and 2) outline and extend the strike and width of recently discovered nickel-copper-PGE mineralization associated with both the No. 1 quartz vein and a magnetic anomaly.
Drill holes JP-07-12, (264.6 metres) and JP-07-13 (233.1 metres), collared between holes JP-06-06 and JP-06-07(see News Release March 19, 2007) 330 metres southeast of the Jeep mine shaft were drilled from one location at a dip of -58, and -45, degrees respectively. Both drill holes intersected the No.1 quartz vein structure. Hole JP-06-13 intersected 0.39 gpt gold over 0.40 metres from 148.8 to 149.2 metres depth. No significant assays were intersected in hole JP-07-12.
Holes JP-07-14 (278.3 metres), JP-07-15 (241.7 metres), and JP-07-16 (313.6 metres), were drilled from one location at a dip of -58, -45, and -68 degrees respectively, and collared 50 metres northwest of JP-06-01 (135 metres southeast of the Jeep mine shaft). Although all holes intersected the No. 1 vein quartz structure, no significant gold assays were returned.
Holes JP-07-17 (168.51 metres), JP-07-18 (120.7 metres), and JP-07-19 (142.0 metres) were drilled from one location, 50 metres southeast of the historic Jeep mine shaft, at a dip of -50, -67, and -77 degrees respectively. These were the closest drill holes to the old mine workings. All holes intersected the No. 1 quartz vein, with hole JP-07-18 intersecting significant gold mineralization of 36.04 gpt gold over 0.30 metres from 99.17 to 99.47 metres. Hole JP-07-19 intersection of the No. 1 quartz vein assayed 1.19 gpt gold over 0.2 metres from 123.2 to 123.5 metres. No significant gold assays were intersected in hole JP-07-17.
Holes JP-07-20 (161.3 metres) and JP-07-21 (154.2 metres) were drilled from one location at -50 and -65 degrees respectively. Both holes intersected the No. 1 quartz vein structure. Hole JP-07-21 intersected 1.61 gpt gold over 0.50 metres from 63.0 to 63.5 metres and 2.15 gpt gold over 0.87 metres from 97.38 to 98.25 metres. No significant assays returned from hole JP-07-20.
In addition, results were received for hole JP-07-08. The original hole, JP-06-08, encountered difficulties due to equipment failure prior to 2006 year end. Hole JP-07-08 intersected the No. 1 quartz vein structure from 226.0 to 227.0 metres and assayed 0.69 gpt gold over 1.0 meter.
The results from holes JP-06-01 through JP-07-21 complete the initial phase of the company's Jeep Project 2006-7 drill program along trend of the No. 1 vein structure to the southeast of the historic Jeep mine.
The Jeep Project 2007 drill program was completed on April 30, 2007 totaling of 8,234.9 metres in 36 holes. Assay results on holes JP-07-22 to JP-07-36 are pending.
The Jeep property, situated 15 kms east of the mining town of Bissett, MB, is situated along Provincial Highway 304 and is accessible year round.
Wildcat's 2006-7 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. Technical and GEMS support were performed by Sasha Herwig, B.Sc.Hons. Geology. 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.
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.