Apr 11 2014
Wildcat Exploration Ltd. is pleased to announce that it has agreed with Anglo American plc to extend, by one year, the remaining exploration expenditure completion dates under Wildcat's option of the Burntwood property.
Expenditures to date, for purposes of the option agreement with Anglo American, have exceeded the $600,000 requirement. The revised requirements are for a further $400,000 of expenditures by March 31, 2015, and $500,000 by each of March 31, 2016 and March 31, 2017. By completing the required expenditures, Wildcat will earn a 100% interest in the property, subject to Anglo American's right to earn back a 65% interest by completing a pre-feasibility study on the property.
In 2012, Wildcat's drill hole TB 2011-02 intersected 152.5 g/tonne gold over 1 m (core length) from 125.9 m to 126.9 m. To date, no further drilling has been done in relation to this significant intersection. In addition, nickel-copper drill targets in Opswagan rocks of the Thompson Nickel Belt, identified by Anglo American, remain untested and drill ready. Follow-up drilling is awaiting funding or partnership arrangements.
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.
For further information on Wildcat, please visit www.wildcat.ca.
Source: http://www.wildcatexploration.com/