WILDCAT DRILL RESULTS INCLUDE 100 METRES OF 153 GRAMS PER TONNE SILVER, 13.8% MANGANESE, 4.25% ZINC, 3.72% LEAD AND 0.19% COPPER
VANCOUVER, March 24 /PRNewswire/ - Wildcat Silver Corporation (TSX-V: WS) (“Wildcat” or “the Company”) is pleased to announce the results of four
additional drill holes completed on the Company’s flagship Hermosa
property (formerly the Hardshell project)* located in Santa Cruz
“These results continue to support our view that there is considerable
potential to expand the resource,” Wildcat’s President and CEO, Chris
Jones said. “Further, in addition to the high grade silver we have
encountered, we have also intersected significant intervals of
Of the four holes reported, three holes were step-out holes (Hole
HDS-113, HDS-121 and HDS-123). A total of 23 holes have been drilled in
the current program for a total of 6,250 metres, of which seven holes
(five step-out holes) have been reported to date.
Hole HDS-113 is located on the northwest corner of the currently defined
Hermosa resource. It represents one of the thickest intervals drilled
to date and has encountered significant intervals of silver and
manganese mineralization from 20.4 metres below the surface to 236.9
metres. Significant intersections include:
-- An upper zone 39 metres at depth which intersected 18.4 metres of 69.4 g/t silver, 0.78% manganese, 0.30% zinc, 0.51% lead and 0.03% copper. This forms a near surface blanket of mineralization that has not been quantified in the current resource estimate and provides further potential to significantly add to the resource. -- A manganese oxide zone in the manto which intersected100.3 metres of 153.4 g/t silver, 13.79% manganese, 4.25% zinc, 3.72% lead and 0.19% copper.
Hole HDS-123 is located northeast of the current Hermosa resource. This
drill hole contains two well-defined intervals including 57.9 metres of 61.2 g/t silver, 16.29% manganese, 4.16% zinc, 2.59% lead
and 0.10% copper.
Hole HDS-121 is located on the eastern edge of the Hermosa resource.
This drill hole contains two well mineralized intervals including an
interval of 13.7 metres of 332.9 g/t silver, 7.43% manganese, 0.31% zinc, 4.35% lead
and 0.14% copper and an interval of 16.8 metres of 114.9 g/t silver, 1.72% manganese, 0.95% zinc, 0.87% lead
and 0.05% copper.
Hole HDS-120 is located at the extreme south end of the Hermosa
resource. This drill hole encountered four zones of significant silver
and/or manganese mineralization, including an upper zone that
intersected 27.4 metres from the surface of 55.3 g/t silver.
A summary of the drill results are provided below:
______________________________________________________________________ | | | From | To |Interval| Cu | Pb | Zn | Mn | Ag | | Holes | |(metres)|(metres)|(metres)| % | % | % | % | g/t | |_______|________|________|________|________|____|____|____|_____|_____| |HDS-113| | 20.4 | 38.9 | 18.4 |0.03|0.51|0.30|0.78 |69.4 | |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 22.0 | 27.9 | 5.9 |0.05|0.88|0.28|1.47 |108.8| |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 341 | 37.2 | 3.0 |0.04|0.77|1.00|1.39 |113.0| |_______|________|________|________|________|____|____|____|_____|_____| | and | | 41.8 | 49.1 | 7.3 |0.03|0.19|1.04|1.92 |23.4 | |_______|________|________|________|________|____|____|____|_____|_____| | and | | 126.4 | 143.9 | 17.5 |0.03|1.40|0.04|0.75 |40.5 | |_______|________|________|________|________|____|____|____|_____|_____| | and | | 148.2 | 248.5 | 100.3 |0.19|3.72|4.25|13.79|153.4| |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 149.4 | 157.3 | 7.9 |0.14|4.94|3.27|12.13|182.5| |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 163.1 | 181.6 | 18.4 |0.13|2.78|2.54|15.14|209.2| |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 186.1 | 197.3 | 11.1 |0.19|3.78|0.94|7.81 |303.9| |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 216.5 | 236.9 | 20.4 |0.30|4.85|7.88|14.58|135.4| |_______|________|________|________|________|____|____|____|_____|_____| |HDS-120| | 0.0 | 27.4 | 27.4 |0.0 |0.2 |0.0 | 0.0 |55.3 | |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 13.7 | 18.3 | 4.6 |0.01|0.29|0.01|0.04 |138.1| |_______|________|________|________|________|____|____|____|_____|_____| | and | | 71.6 | 93.0 | 21.3 |0.01|0.13|0.01|0.32 |26.9 | |_______|________|________|________|________|____|____|____|_____|_____| | and | | 128.0 | 140.2 | 12.2 |0.04|0.29|0.39|12.95|89.2 | |_______|________|________|________|________|____|____|____|_____|_____| | and | | 146.3 | 154.0 | 7.6 |0.01|0.05|0.80|7.81 |20.2 | |_______|________|________|________|________|____|____|____|_____|_____| |HDS-121| | 182.9 | 196.6 | 13.7 |0.14|4.35|0.31|7.43 |332.9| |_______|________|________|________|________|____|____|____|_____|_____| | and | | 205.8 | 222.6 | 16.8 |0.05|0.87|0.95|1.72 |114.9| |_______|________|________|________|________|____|____|____|_____|_____| |HDS-123| | 57.9 | 65.5 | 7.6 |0.03|0.07|0.01|0.02 |26.4 | |_______|________|________|________|________|____|____|____|_____|_____| | and | | 178.4 | 236.3 | 57.9 |0.10|2.59|4.16|16.29|61.2 | |_______|________|________|________|________|____|____|____|_____|_____| | |includes| 182.9 | 190.5 | 7.6 |0.19|3.64|0.56|14.08|137.1| |_______|________|________|________|________|____|____|____|_____|_____|
A complete listing of drill intercepts, location map and additional
details on the cross sections will be available on the Company’s
website at www.wildcatsilver.com on March 31, 2011.
The Company intends to continue to aggressively drill to the end of the
year as mineralization remains open in all directions. Exploration
efforts will primarily focus on step-out drilling with the objective of
significantly expanding the current resource. Wildcat now has four
drills operating on the property (two core and two reverse
* Wildcat’s silver project, formerly the Hardshell project, has been
renamed the “Hermosa project”. The new name reflects the increased size
and scope of the project since it was acquired and the Company believes
the new name more appropriately reflects the district rather than the
originally named historic mine.
The results of Wildcat’s drilling results have been reviewed, verified
and compiled by Don Taylor, MSc., PG, vice president of exploration 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 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 fire assay (1 AT) with an AA finish. For all
samples that assay greater than 200 ppm Ag, the sample is re-run using
fire assay (1 AT) with a gravimetric finish. In certain holes Skyline
also completes analysis of the pulps for Au (FA/AAS) and Ag by (Aqua
Regia digestion and AA finish). If over 150 g/t, all Silver assays are
redone using FA/Grav finish at 1AT.
Wildcat Silver is a Canadian mineral exploration company focused on
development of Hermosa, its 80% owned silver project located in Santa
Cruz County, Arizona. The project currently has an indicated mineral
resource of 6.0 million tonnes averaging 187.8 grams per tonne silver
for a total of 36 million ounces of silver in addition to an inferred
mineral resource of 46.3 million tonnes averaging 58.6 grams per tonne
silver for a total of 85 million ounces of silver. The Company has
completed an updated preliminary economic assessment which contemplates
an 18 year mine life with expected annual production in excess of 6
million ounces of silver for the first full six years of production.
Wildcat trades on the TSX Venture Exchange under the symbol WS.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
The statements that are not historical facts are forward-looking
statements involving known and unknown risks and uncertainties that
could cause actual results to vary materially from targeted results.
Such risks and uncertainties include those described from time to time
in Wildcat’s latest annual report and management discussion and
analysis. Wildcat assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CAUTIONARY NOTE CONCERNING INFERRED MINERAL RESOURCES
A preliminary economic assessment is preliminary in nature and includes
inferred mineral resources. Inferred mineral resources have a great
amount of uncertainty as to their existence and as to their economic
and legal feasibility. It cannot be assumed that an inferred mineral
resource will have the economic consideration applied that would enable
it to be categorized in the mineral reserve category, and there is no
certainty that the preliminary assessment will be realized.
SOURCE Wildcat Silver Corporation