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Last updated on April 16, 2014 at 21:24 EDT

Wildcat drilling increases Manto Zone thickness in centre of proposed pit

January 10, 2013

VANCOUVER, Jan. 10, 2013 /PRNewswire/ - Wildcat Silver Corporation (TSX: WS) (“Wildcat” or “the Company”) is pleased to announce the results for six
drill holes completed on the Company’s Hermosa property located in
Santa Cruz County, Arizona. These reverse circulation drill holes,
located in the centre of the proposed open pit, were undertaken to
validate certain historic results and upgrade the mineral resource
estimate. They were also designed to test the depth of the resource in
areas of historic shallow rotary-hole infill drilling and provide
representative material for additional metallurgical testing.

The new drilling confirmed the results from the historic drilling.  In
addition, drill hole HDS-329 increased the thickness of the higher
grade Manto Oxide Zone mineralization by approximately 23 metres beyond
what was tested by previously drilled hole HDS-15.  Significant
intercepts include HDS-324 returning 44.2 metres of 219.8 g/t silver and 5.09% manganese, HDS-326 returning 13.7 metres of 338.1 g/t silver and 9.91% manganese and HDS-327 returning 64.0 metres of 151.6 g/t silver.

Wildcat plans to incorporate these drill results into a revised mineral
resource and mine plan to be included in the Hermosa prefeasibility
study, which is being led by M3 Engineering and Technology Corporation
of Tucson, Arizona.  The prefeasibility study is scheduled for
completion in the second quarter of 2013. Further as a result of the
current drilling, approximately five tonnes of Manto Oxide Zone and ten
tonnes of Upper Silver Zone material were collected for additional
prefeasibility metallurgical testwork, which is primarily focused on
optimizing silver and by-product recoveries.  Testwork is currently
underway and being conducted by Hazen Research, Inc. in Golden,
Colorado.

A summary of the drill results is provided below. Please also see the
map at the end of this press release for drill hole locations.

     __________________________________________________________________________
    |       |        |        |        |     |     |     |    |    |    |      |
    |       |  From  |   To   |Interval| Ag  | Au  | Mn  | Zn | Pb | Cu | Ore  |
    |  Hole |(metres)|(metres)|(metres)|(g/t)|(g/t)| (%) |(%) |(%) |(%) | Zone |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-324|   86.9 |  131.1 |   44.2 |219.8|0.115|5.09 |0.37|1.07|0.11|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |      |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Upper |
    |HDS-325|   0.0  |   16.8 |   16.8 |34.7 |0.034|0.02 |0.01|0.08|0.02|Silver|
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-325|   38.1 |  105.2 |   67.1 |121.4|0.075|6.37 |2.34|0.90|0.13|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |      |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Upper |
    |HDS-326|   0.0  |   30.5 |   30.5 |43.3 |0.053|0.09 |0.01|0.06|0.01|Silver|
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-326|   74.7 |   93.0 |   18.3 |112.3|0.140|7.53 |0.47|0.18|0.05|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-326|  103.7 |  117.4 |   13.7 |338.1|0.072|9.91 |2.86|0.85|0.07|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |      |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-327|   0.0  |   64.0 |   64.0 |151.6|0.131|4.25 |0.72|1.60|0.12|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |      |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-328|   33.5 |   77.7 |   44.2 |379.6|0.074|14.73|5.21|3.49|0.25|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |      |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Upper |
    |HDS-329|   0.0  |   13.7 |   13.7 |32.4 |0.038|0.13 |0.06|0.08|0.01|Silver|
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-329|   21.3 |   70.1 |   48.8 |112.1|0.507|4.66 |0.85|0.82|0.06|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|
    |       |        |        |        |     |     |     |    |    |    |Manto |
    |HDS-329|   86.9 |   94.5 |   7.6  |62.4 |0.034|1.87 |0.66|0.32|0.03|Oxide |
    |_______|________|________|________|_____|_____|_____|____|____|____|______|

    Note: Intervals reported are drill thicknesses as measured along the
    core axis and are not true widths

A complete list of all drill intercepts, location map and 3D model of
the Hermosa mineralization are available on the company’s website at www.wildcatsilver.com.

Qualified Person
The results of Wildcat’s drilling results have been reviewed, verified
and compiled by Don Taylor, MSc., PG, President and Chief Operating
Officer for Wildcat Silver, a qualified person as defined by National
Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of
mineral exploration and mining experience, and is a Registered
Professional Geologist through the SME. Mr. Taylor is also a Licensed
Professional Geologist in several US states.

Assays and Quality Assurance/Quality Control
To ensure reliable sample results, Wildcat has a rigorous QA/QC program
in place that monitors the chain-of-custody of samples and includes the
insertion of blanks, duplicates, and certified reference standards in
each batch of samples. Core is photographed and split in half with
one-half retained in a secured facility for verification purposes.
Sample preparation (crushing and pulverizing) is performed at Skyline
Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona.
Skyline Laboratories prepares two pulps of all samples and completes
analysis of one pulp sample by ICP for Cu% (copper), Pb% (lead), Zn%
(zinc) and Mn% (manganese). The second pulp is shipped to Inspectorate
Labs, an ISO: 9001-2008 accredited laboratory in Reno, Nevada, where
the duplicate pulp is analyzed for Au (gold) and Ag (silver).  Silver
values are determined by gravimetric fire assay (1 AT) with gold values
determined by an AA finish from the same dore bead: Final silver value
is the weight of the dore bead minus the AA gold value. In certain
drill holes Skyline completes analyses of pulps for gold (FA-1AT/AA)
and silver is determined by multi-acid digestion/AA finish. If the
silver value is greater than 150 gpt the sample is redone by
gravimetric FA (1AT) with the gravimetric gold value subtracted.  At
both labs if the FA/AA Au value is greater than 3 gpt the Au assay is
repeated by FA gravimetric methods. Certain duplicate pulps have
gold-silver QA/QC checks run at Skyline by the above methods. Further,
certain duplicate pulps also have Cu, Pb, Zn, Mn QA/QC checks using
ICP/AA methods and 30 element spectral ICP determined at Inspectorate
after 4-acid digestion.

About Wildcat
Wildcat is a Canadian mineral exploration company focused on the
development of its 80% owned Hermosa silver project located in Santa
Cruz County, Arizona. The project currently has a preliminary economic
assessment completed which estimates average annual production of over
15 million ounces of silver for the first five years and a 16 year mine
life, making it one of the largest undeveloped silver projects in the
USA.  Hermosa’s measured and indicated mineral resource consists of 194
million tonnes averaging 37.7 grams per tonne silver for a total of 236
million ounces of silver and an inferred mineral resource of 80 million
tonnes averaging 30.9 grams per tonne silver for a total of 79 million
ounces of silver as announced in the August 9, 2012 press release.

Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes
forward-looking statements.  All statements, other than statements of
historical facts, are forward looking statements, including information
concerning the Company’s plans for its mineral property in Arizona
including the preparation and timing of further mineral resource
updates, prefeasibility studies and metallurgical testwork.  
Forward-looking statements are often, but not always, identified by the
use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.

The forward-looking statements are based on a number of assumptions
which, while considered reasonable by the Company, are subject to risks
and uncertainties.  In addition to the assumptions herein, these
assumptions include the assumptions described in the Company’s
management’s discussion and analysis for the period ended December 31,
2011 (“MD&A”).  The Company cautions readers that forward-looking
statements involve and are subject to known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those expressed
in or implied by such forward-looking statements and forward-looking
statements are not guarantees of future results, performance or
achievement. These risks, uncertainties and factors include general
business, economic, competitive, political, regulatory and social
uncertainties; actual results of exploration activities and economic
evaluations; fluctuations in currency exchange rates; changes in
project parameters; changes in costs, including labour, infrastructure,
operating and production costs; future prices of silver and other
minerals; variations of mineral grade or recovery rates; operating or
technical difficulties in connection with exploration, development or
mining activities, including the failure of plant, equipment or
processes to operate as anticipated; delays in completion of
exploration, development or construction activities; changes in
government legislation and regulation; the ability to maintain and
renew existing licenses and permits or obtain required licenses and
permits in a timely manner; the ability to obtain financing on
acceptable terms in a timely manner; contests over title to properties;
employee relations and shortages of skilled personnel and contractors;
the speculative nature of, and the risks involved in, the exploration,
development and mining business; and the factors discussed in the
section entitled “Risks and Uncertainties” in the MD&A.

Although the Company has attempted to identify important risks,
uncertainties and other factors that could cause actual performance,
achievements, actions, events, results or conditions to differ
materially from those expressed in or implied by the forward-looking
information, there may be other risks, uncertainties and other factors
that cause performance, achievements, actions, events, results or
conditions to differ from those anticipated, estimated or intended. 
Unless otherwise indicated, forward-looking statements contained herein
are as of the date hereof and the Company disclaims any obligation to
update any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as required
by applicable law.

About Reserves and Resources
This press release uses the terms measured, indicated and inferred
resources as a relative measure of the level of confidence in the
resource estimate. Readers are cautioned that: (a) mineral resources
are not economic mineral reserves; (b) the economic viability of
resources that are not mineral reserves has not been demonstrated; and
(c) it should not be assumed that further work on the stated resources
will lead to mineral reserves that can be mined economically. In
addition, inferred resources are considered too geologically
speculative to have any economic considerations applied to them. It
cannot be assumed that all or any part of an inferred mineral resource
will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies or economic studies except for
certain preliminary economic assessments. Readers should also refer to
the Company’s Annual Information Form for the period ended December 31,
2011 and other continuous disclosure documents available at www.sedar.com, which is subject to the qualifications and notes set forth therein.

 

 

SOURCE Wildcat Silver Corporation

PDF available at: http://stream1.newswire.ca/media/2013/01/10/20130110_C5007_DOC_EN_22396.pdf


Source: PR Newswire