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Wildcat Exploration Limited is a publicly traded company actively exploring in Canada for precious and base metals.
Message: Wildcat Exploration Sets Drilling Plans for Island Lake, NB Project
WINNIPEG, MANITOBA--(Marketwired - March 31, 2014) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that it plans to commence the next phase of diamond drilling and other work programs at the Island Lake, N.B. property in May 2014 under the Wildcat - Doe Run Canadian Exploration Alliance (the "Alliance"). The drilling will follow up on encouraging 2013 drill results in the Railroad Zone. Concurrently, a program of mapping, soil geochemistry and geophysics will be performed on the Captain West, Roche Long Lac and other areas of the property.
The Island Lake property is located approximately 4 km southeast of the former Heath Steele zinc-lead mine in Northumberland County, N.B.
The planned drill program includes approximately 1,200 m in three holes. The objective of the drilling is to demonstrate increased tonnage potential by drilling down dip and along strike from IL-2013-002b. In 2013, IL-2013-002b intersected 6.5% Zn, 3.2% Pb, and 0.4 % Cu across 2.08 m. (see news release dated September 9, 2013). Concurrently with the drilling, ground surveys including geophysics, geochemistry and geological mapping will performed on approximately 21 new EM anomalies have been identified, in order to rank the targets for subsequent drilling.
Tom Lewis, Wildcat's VP Exploration, commented, "The Island Lake property is underlain by the same types of rocks that host the nearby Heath Steele mine. We believe the Island Lake property in particular, and the Bathurst Camp in general, continue to have good exploration potential, due to the poorly conductive nature of many of the area's lead-zinc deposits. I am pleased the Alliance plans to follow up on known mineralization on the Railroad Zone, as well as to develop new targets on untested and overlooked weaker conductors."
The Alliance is a strategic, base metal exploration agreement between Wildcat and Doe Run Canadian Exploration ULC ("Doe Run Canadian"), a British Columbia registered company (see news release December 11, 2012). Under the terms of the Alliance, properties are acquired and held by Doe Run Canadian, subject to Wildcat's right, under certain circumstances, to earn up to a 30% interest in one or more properties.
Drill intercept widths in this release represent metres down hole, not true width, calculation of which is pending geological interpretation.
Wildcat's exploration program is managed by Tom Lewis, P. Eng., a Qualified Person as defined by NI 43-101, who has reviewed all technical information in this release.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. It manages exploration on its own properties in Ontario, Manitoba and Saskatchewan. In addition, Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration Alliance which explores in Canada for base metal deposits.
For further information on Wildcat, please visit www.wildcat.ca.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 "believes", "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. 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.
Wildcat Exploration Ltd.
President & CEO
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