Wildcat Exploration Encouraged by Drilling in New Brunswick, Plans Further Drilling in 2014
January 13 2014 - 8:30AM
Marketwired
Wildcat Exploration Encouraged by Drilling in New Brunswick, Plans
Further Drilling in 2014
WINNIPEG, MANITOBA--(Marketwired - Jan 13, 2014) - Wildcat
Exploration Ltd. (TSX-VENTURE:WEL) is pleased to announce that it
has completed a total of 1,867 metres of diamond drilling in four
holes on the Island Lake, N.B. property under the Wildcat - Doe Run
Canadian Exploration Alliance (the "Alliance"). The Alliance has
decided to carry out further drilling on the property in 2014.
The Island Lake property is located approximately 4 km southeast
of the former Heath Steele zinc-lead mine in Northumberland County,
N.B.
The current drill program was designed to follow up on the
results of the initial drilling on the property in which diamond
drill hole (DDH) IL-2013-2b intersected 6.5% Zn, 3.2% Pb, and 0.4%
Cu across 2.08 m. (see news release dated September 9, 2013). The
collar of DDH IL-2013-4 was located to test the extension of
mineralization southwest of DDH IL-2013-2b. DDH IL-2013-5 was
collared to test beneath IL-2013-2b and was terminated due to hole
deviation. DDH IL-2013-6 and 7 were drilled northeast of DDH
IL-2013-2b, and fell short of the anticipated mineralized horizon
(Upper Railroad Zone). DDH IL-2013-6 intersected 1.01% Zn across
1.04 metres in a felsic unit higher up in the stratigraphy, but was
halted due to faulted ground. No other significant assays were
reported.
Tom Lewis, Wildcat's VP of Exploration commented, "I am pleased
the Alliance plans to continue exploration on the property and on
the Railroad Zone in particular. Drilling has intersected
interesting mineralization on the zone, and recent geological
modeling has provided us with valuable insight into the geometry of
the zone. We believe this will enhance our ability to locate
mineralization. In addition we plan to continue to evaluate other
targets on the property."
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.
About Wildcat
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.
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.
Cautionary Note
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.John KnowlesPresident & CEO(204)
944-8916info@wildcat.cawww.wildcat.ca