WINNIPEG, Aug. 7 /CNW/ - Wildcat Exploration Ltd. (WEL: TSX-V) has mobilized an exploration team to its Foster River zinc property north of La Ronge, Saskatchewan.
The Foster River property, covering 11,800 hectares, contains Broken Hill type ("BHT") zinc mineralization and has geological characteristics similar to the Broken Hill deposit, a major lead-zinc-silver deposit in Australia.
The Company's field crew has commenced a surface exploration program, including geological mapping, sampling and prospecting. This work will help to establish the existence of mafic volcanics located footwall to the mineralization. Mafic volcanics associated with BHT deposits serve as providers of large amounts of metals to the ore-forming hydrothermal system and as a heat source to drive large volumes of metal laden fluids to the sites of ore deposition. Work will also focus on outlining the extent of the alteration halo and meta-exhalite layers associated with the mineralization and assessing their potential to target prospective sites of zinc mineralization.
These investigations are part of a three year program scheduled to run from 2007 through 2009, developed for the Company by Dr Paul Spry, Ph.D. of Iowa State University, a recognized authority on Broken Hill type deposits.
In addition to the investigation program, Wildcat is currently planning a minimum 1500 meter winter drill program in the Fable Lake area of the property. This initial phase of drilling by the Company is intended to extend the strike and width of known mineralization and to outline new mineralization in this area. Drilling will also test the significant soil anomalies that were found in the mobile metal ions survey conducted earlier this year along the Fable Lake mineralized horizon (See the Company's news release of April 24, 2007).
This winter, Wildcat also intends to conduct an airborne geophysical survey over the northern portion of the property, on claims recently staked during the summer of 2006. The survey will encompass the northeast extension of the mineralized trend along which most of the Foster River property zinc-lead showings occur.
All technical information in this release has been reviewed by Tim Tuba, P.Geo. as the Qualified Person on behalf of Wildcat.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. Its portfolio includes: (1) the Foster River zinc project in Saskatchewan, (2) three gold properties and one gold and platinum group element (PGE) property in the Rice Lake greenstone belt in Manitoba, and (3) two PGE properties in the Snow Lake area of Manitoba. In building its property portfolio, Wildcat welcomes proposals from owners of advanced Canadian exploration properties.
For more information on the Company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca. The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
John Knowles
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information, including risks associated with the mineral exploration and mining industry such as economic factors, government regulation and approvals, environmental risks, success of exploration activities, future commodity prices, capital expenditures, requirements for additional capital, changes in project parameters as plans continue to be refined, conclusions of economic evaluations, the Company's history of operating losses and uncertainty of future profitability. Important factors that pertain to the risks and uncertainties associated with the Company's business are discussed more fully in the Company's disclosure documents filed from time to time with the Canadian securities regulators and available on www.sedar.com. Although Wildcat has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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