Jul 22 2014
Wildcat Exploration Ltd. is pleased to announce that the Wildcat - Doe Run Canadian Exploration Alliance has commenced its work program at the Island Lake property, located approximately 4 km southeast of the former Heath Steele zinc-lead mine in Northumberland County, N.B.
The program is expected to run through August, 2014 and includes a total of up to 2,500 m of diamond drilling as well as geophysical and geochemical surveys, mapping and sampling and overburden drilling at a total cost of approximately $500,000.
The first hole in the diamond drill program is now under way and is designed to follow up on the encouraging results of previous drilling by the Alliance (see news release dated September 9, 2013) and others in the Railroad Zone which is located in the northeast part of the property. The hole is targeted below zinc-lead-copper-silver mineralization intersected by drilling during 2001 as reported by a previous owner. Three holes are planned for the Railroad Zone before moving 6 km southwest to the Roche Long Lac Zone.
The drilling at Roche Long Lac is planned to test down dip from zinc and lead mineralization intersected by drill holes in the 1950's, and to investigate a coincident magnetic and electromagnetic ("EM") anomaly.
In addition, 20 EM targets have been evaluated by Wildcat geologists and four grids have been cut for the purposes of HLEM and magnetic surveys, mapping and soil geochemical testing. The results of these surveys are currently being evaluated for possible follow-up drilling.
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.
Source: http://www.wildcatexploration.com