|By Marketwired .||
|July 21, 2014 08:30 AM EDT|
WINNIPEG, MANITOBA -- (Marketwired) -- 07/21/14 -- Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that the Wildcat - Doe Run Canadian Exploration Alliance (the "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.
Wildcat's exploration program is managed by Tom Lewis, P. Eng., a Qualified Person as defined by NI 43-101, who has reviewed and approved all technical information in this release.
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.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.