Sep 10 2013
Wildcat Exploration Ltd. is pleased to announce that it has completed its drill program on the Sewell Brook, N.B. property under the Wildcat - Doe Run Canadian Exploration Alliance (the "Alliance"), with assays pending. In addition, Wildcat's geologists have returned to the Island Lake property to carry out follow-up drilling on the basis of results of the July, 2012 program (see news release dated August 2, 2013).
The Sewell Brook property is located approximately 40 km southeast of Grand Falls, in Victoria County, N.B. and the Island Lake property is located approximately 4 km southeast of the former Heath Steele zinc-lead mine in Northumberland County, N.B.
At Sewell Brook, four holes totaling 1,320 metres were drilled. The drill holes were designed to test the down-dip extension of the Sewell Brook zinc-lead deposit and two gravity anomalies as well as induced polarization and soil geochemistry anomalies in the vicinity of the Sewell Brook deposit. The best drill intercept received to date includes 1.24% zinc (Zn) and 0.36% lead (Pb) across 7.0 metres (137 m to 144 m) in diamond drill hole SB-2013-002. This hole was collared under previously intersected mineralization on the property.
At the Island Lake property, further assay results have been received, including:
- Upper Railroad Zone: IL-2013-002b: 6.52% Zn, 3.22% Pb, 0.40% copper (Cu) across 2.08 m (594.52 m to 596.60 m)
- Lower Railroad Zone: IL-2013-002b: 3.8% Zn, 0.18% Pb, 0.44% Cu across 0.12 m (697.28 m to 697.4 m)
- Lower Railroad Zone: IL-2013-002b: 1.15% Zn across 0.57 m (797.55 m to 798.12 m)
- Rusty Ridge: IL-2013-003: 2.71% Zn across 0.9 m (100.15 m to 101.05 m)
The lead-zinc mineralization at the Island Lake property is hosted within felsic volcanic rocks, believed to be part of the Nepisiguit Falls Formation, which contains volcanogenic massive sulfide deposits typical of the Bathurst Mining Camp.
Tom Lewis, Wildcat's VP Exploration, commented, "We are encouraged by the grade of the mineralization at Island Lake and the potential for the zone to thicken. Further drilling on the property this fall will focus on understanding the controls on mineralization and its extent."
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.
Source: http://www.wildcatexploration.com/