Nov 20 2010
Wildcat Exploration Ltd. (TSX VENTURE:WEL) has provided additional information on the recently acquired gold exploration property, acquired by staking in the Uchi Subprovince of northwestern Ontario.
The acquisition is the first property acquired as a result of a generative project carried out by the Company in the Uchi, a large geological area that hosts many gold deposits including those of the Rice Lake, Red Lake and Pickle Lake camps.
The Uchi generative project involved an extensive review of public reports and documents stored within the Ontario Geological Survey database. By analyzing the data and applying an innovative interpretive approach, Wildcat's geologists recognized several new properties for gold exploration. To date, Company geologists have conducted preliminary field examinations of two of the prospective target properties, resulting in the acquisition of the McVicar property.
The Company has staked 10 claims encompassing approximately 2400 ha over and around McVicar Lake, located approximately 80 km west of Pickle Lake Ontario, within the Lang Lake greenstone belt of the Uchi Subprovince belonging to the Superior Province. The property is underlain by gabbro and mafic to felsic volcanic rocks of Archean age that have subsequently been intruded by granite and tonalite. Structurally, the property is host to 3 major fault zones including: 1) Bear Head Fault, 2) Lower McVicar Fault, and 3) Altered Zone Fault.
Known gold mineralization on the property is concentrated in four main zones, namely the Altered Zone, North Flexure Zone, the Shonia #1 Zone and the Chellow Vein. Gold occurs in highly sheared and altered zones associated with quartz veins, carbonates, tonalitic intrusions and disseminated sulphides.
All of the known gold zones have been tested with near-surface drilling in the past, and are open both along strike and at depth. Significant drilling results from the Altered Zone include intersections of 5.7 g/t gold across 7.1 metres and 14.3 g/t gold across 4.63 metres. Significant drilling results from the North Flexure Zone include 9.3 g/t gold over 2.02 m, from the Shonia #1 Zone, 4.4 g/t gold over 2.30 m and from the Chellow Vein, 1.2 g/t gold over 0.30 m.
Tom Lewis, Wildcat's V.P. Exploration, commented: "I am pleased that our team was able to identify, inspect and stake a gold property like McVicar, so soon after completing our generative project in the Uchi region. The McVicar gold property displays potential at the previous discovery zones, as well as under-explored potential elsewhere on the property. Our Uchi project has generated multiple target properties for investigation and potential acquisition. We're looking forward to exploring McVicar and investigating the other target properties."
Drilling results in this release are historical in nature, generated prior to the quality control and assurance standards of NI 43-101, and are therefore not to be relied upon.
Wildcat's exploration program is being managed by Tom Lewis, B.Sc. P.Eng., who is a Qualified Person as defined by NI 43-101, and who has reviewed all technical information in this release.
Source: Wildcat Exploration Ltd.