Wildcat Exploration Reports Drilling Assay Results from Burntwood Project in Thompson Nickel Belt, Manitoba
WINNIPEG, MANITOBA--(Marketwire - Jan. 5, 2012) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to report that assay results from drilling on its Burntwood property in the Thompson Nickel Belt (TNB) confirmed the presence of nickel mineralization as well as an unexpected gold-bearing quartz vein in the targeted rocks.
The previously announced drill program (see News Release December 14, 2011) was primarily designed to intersect nickel-copper mineralization in the TNB. However, Wildcat geologists also analyzed for gold and platinum group elements (PGE) and this work was successful in identifying gold mineralization in drill hole TB-2011-02.
Drill hole TB-2011-02 intersected one metre (core length) of gold mineralization grading 152.5 g/t gold from 125.9 m to 126.9 m (non 43-101 compliant). This result was confirmed with a re-assay which graded 145.5 g/t gold and was further supported by the observation of native gold within a smoky-grey quartz vein and along the enveloping wall rock. The quartz vein is hosted within a well-foliated garnet-biotite-quartz metasedimentary rock. Wildcat has completed preliminary follow-up sampling in core bordering the gold intersection. The drill has been left on site, and Wildcat plans to follow-up the gold mineralization with additional drilling.
Other assay results confirm the presence of nickel mineralization within the Ospwagan rocks of the TNB. The best intersection occurred in drill hole TB-2011-01, which included 0.28% Ni from 169.6 m to 180.6 m (11 m core width). This mineralization is associated with disseminated sulphides (mainly pyrrhotite) hosted within Ospwagan perridotite. The company is considering down-hole electromagnetic surveys to check for nearby anomalies.
Tom Lewis, VP of Exploration commented, "Intersecting gold within the TNB was rather unexpected, although we had sampled for gold and PGE in the remote possibility that such mineralization might be present. We will continue to focus on the nickel and copper potential of the Burntwood property and, in addition, we plan to follow up on this new gold intersection with further drilling."
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.
