WINNIPEG, June 26 /CNW/ - Wildcat Exploration Ltd. (TSX-V:WEL) is pleased
to announce that equipment and personnel have been mobilized to its Foster
River Project 140 km north of La Ronge, Saskatchewan and that exploration is
underway.
The Foster River Property is host to a Broken Hill-type zinc-lead-silver
mineralizing environment with geological characteristics similar to those at
the Broken Hill Main Lode area of southeast Australia. The Broken Hill Main
Lode is a world-class deposit developed by BHP and contains approximately 300
million tonnes of lead, zinc and silver in excess of 15% combined lead and
zinc.
The Foster River Property comprises three contiguous mining claims
totaling 8,089 hectares. It is located immediately west of Hewetson Lake,
approximately 140 kilometres north of the town of La Ronge in northern
Saskatchewan. It encompasses a 19 kilometre mineralized horizon with five
zinc-lead, one copper and one gold showings. The main zinc-lead showings are
Sito East, Sito West, George and Fable Lake.
The Company's field crew has commenced a surface exploration program,
including detailed geological mapping and sampling, prospecting and structural
mapping of the known prospects. Equipment and personnel have been mobilized to
three camps across the property: Sito Lake, Fable Lake and Hewetson Lake.
Sito East and Sito West occurrences
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Previous drilling at the Sito Lake occurrence has delineated a zone
containing 50,000 tonnes of mineralization grading 4.5% zinc. The zone is open
along strike and at depth. The best intersection, to date, has been drill hole
SE-72-9 that intersected 8.4 meters of 7.65% zinc (see table below). Drill
hole SE93-2 intersected a wider zone of about 39.9 meters grading 1.93% zinc
(see table below).
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Sito East - Previous Drillhole Intercepts
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Drill Hole Intersection (meters) Width (meters) Zinc (%)
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SE-72-1 26.9 to 29.4 2.5 meters 4.93%
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SE-72-2 0.9 to 11.9 11.0 meters 4.41%
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SE-72-5 25.8 to 35.5 9.8 meters 5.15%
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SE-72-9 51.8 to 60.2 8.4 meters 7.65%
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SE-72-10 36.0 to 45.7 9.7 meters 4.57%
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SE93-1 107.5 to 111.0 3.5 meters 3.70%
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SE93-2 175.6 to 215.5 39.9 meters 1.93%
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The Sito West occurrence, located on the northwestern shore of Sito Lake,
is approximately 1.8 kilometers northwest of the Sito East occurrence. The
only drill hole on this occurrence, FR94-5, drilled by Noranda in 1994,
intersected 1.18% Zn, 0.15% Pb and 2.7 gpt Ag over 4.53 m.
The Sito Lake mapping crew will focus mapping, sampling and prospecting
efforts on the Sito East, Sito West showings and the area between the
showings. Review of works by previous operators, as well as data from the
current program, indicates that the Sito East and Sito West areas are folded
and both occurrences may represent mineralization on separate limbs of the
same horizon. The fold nose linking these two occurrences represents a
potential site for thickening of mineralization and remains an untested
target.
Fable Lake
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At Fable Lake, 14 kilometres south of the Sito East occurrence, an
extensive 3 kilometre long glacial dispersion train with zinc-lead mineralized
boulders has been delineated. Drilling conducted by previous property owners
defined a laterally extensive mineralized quartzite horizon with a minimum
strike length of 4 kilometres (see table below), from which the zinc-lead
mineralized boulders are interpreted to have been derived. However, the source
of the higher grade zinc-lead mineralized boulders (up to 13.27% Zinc, 4.01%
Lead) has not been delineated and underscores the significant potential for
high-grade zinc-lead-silver mineralization of the Broken Hill type along the
strike of this rock unit.
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Fable Lake - Previous Drillhole Intercepts
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Drill Hole Intersection (meters) Width (meters) Zinc (%)
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F-4-72 47.7 to 50.7 3.0 meters 3.93%
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F-9-72 78.0 to 88.7 10.7 meters 1.36%
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FL-93-1 41.5 to 58.5 16.5 meters 2.83%
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FL-93-1 62.5 to 78.5 15.0 meters 2.68%
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FL-93-5 219.0 to 224.8 5.8 meters 5.60%
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FL-93-5 Including 4.0 meters 7.18%
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The Fable Lake crew will focus mapping, sampling and prospecting efforts
on the extensive mineralized horizon at Fable Lake. Spanning over 4
kilometers, the strike length will be mapped, sampled and prospected.
On June 1, 2006 Mark Fedikow of Mount Morgan Resources Ltd. began a
multi-element Mobile Metal Ions ("MMI") geochemical survey over the Fable Lake
mineralized horizon. MMI geochemistry is a relatively new technique developed
for detecting precious and base metal deposits buried under thick overburden
cover. The company will drill targets based on integrated geological,
geophysical and MMI geochemical survey results along the Fable Lake
mineralized horizon.
Prospecting is also being conducted in the area between the Sito
occurrences in the north end of the property to the Fable Lake occurrence in
the south. The Hewetson Lake crew will focus along Porcupine Creek, where
approximately 10 kilometers of favorable stratigraphy will be prospected.
Work in these areas will be facilitated with recently flown orthophotos.
An orthophoto base with 2 metre contour resolution will facilitate mapping,
interpretation and logistical planning of the exploration of the property.
On the Foster River property, sphalerite (zinc sulphide) often occurs
without other sulphide minerals and lacks development of oxidation (gossan)
making detection of zinc mineralization in outcrop difficult. The Company has
addressed this problem by implementing the use of a portable x-ray
fluorescence spectrometer which enables rapid identification of zinc
mineralization.
The 2006 summer exploration program at the Foster River project remains
on time and under budget.
All technical information in this release has been reviewed by Mark
Fedikow, Ph.D. 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 specializes in
generating projects in-house and presently has six properties in Manitoba and
Saskatchewan. Currently exploration is being conducted in the Bissett gold
mining camp, southeast Manitoba. Wildcat is also exploring the base metal
(zinc - silver - lead) potential of the Wollaston Domain, Saskatchewan, along
with Phelps Dodge and BHP-Billiton, companies recently active in the area.
Wildcat has consolidated the largest land holdings (230 square
kilometers) in the Bissett gold mining camp. This land holding is
strategically positioned in the Rice Lake belt to encompass a
tectono-stratigraphic environment similar to that hosting the Red Lake gold
deposits. These rocks are under-explored and have received minimal diamond
drilling. For further information on the company please visit our website at
www.wildcat.ca or contact us at info(at)wildcat.ca.
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On behalf of the Board
"Sol Prizant"
President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
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