Eskay Mining Corp. press release
Wildcat Exploration Ltd. - Extensive Gold-Silver Mobile Metal Ions Soil Geochemical Anomaly Documented
TSXV - TSX Venture Exchange · Gold · Silver · Copper · Lead · Zinc · Bismuth · Canada
WINNIPEG, July 31 /CNW/ - Wildcat Exploration Ltd. (TSX-V:WEL) ("Wildcat" or the "Company") is pleased to announce that results have been received from a Mobile Metal Ions ("MMI") soil geochemical survey completed on their Poundmaker property near Bissett in southeast Manitoba. The survey has outlined what is interpreted to be a significant geochemical anomaly related to a buried gold-silver mineralized structure. In May, 2006 Wildcat completed a multi-element MMI soil geochemical survey initiated in 2005 on the Mike-Power grid in the southern portion of the Poundmaker property. MMI geochemistry is a relatively new technique developed to detect bedrock-hosted precious and base metal mineralization buried under thick overburden cover. This enables pinpoint exploration and reduces diamond drill costs. The anomaly appears to be spatially associated with the Gold Creek Shear zone (GCSZ). Field mapping conducted in the summer of 2005, in the area of the GCSZ, outlined significant sericite and ankerite alteration proximal to the MMI anomaly. From the MMI results and field mapping conducted in the summer of 2005, a diamond drill hole targeted the southeastern portion of the MMI anomaly within the GCSZ (see press release dated May 16, 2006). The hole intersected several narrow zones of multi-phase quartz-tourmaline breccia veins and associated strongly altered rocks with an assemblage comprising sericite - chlorite - ankerite - quartz - pyrite with minor intervals of strong silicification. Zones of high strain, including mylonite, associated with the GCSZ were also intersected. The 2006 survey has expanded the 2005 anomaly to the east for an additional 550 m and a total strike length of about 1 km. The combined characteristics of the 2005 and 2006 MMI survey indicate the gold anomaly has responses of up to 86 times background and is coincident with a 20-times background silver anomaly. With the completion of the MMI survey the process of data integration and selection of drill hole locations to test coincident MMI, geophysical and geological targets will begin. Drill results with assay data will be reported when available. Excellent access to the area is provided by an all-weather road that is 50 meters north of the anomaly which will assist in the exploration of the area. The design, implementation, sample collection and interpretation of the MMI surveys in 2005 and 2006 were undertaken by Mount Morgan Resources Ltd. Soil samples were analyzed in the laboratories of SGS Mineral Services (Toronto, Ontario). All technical information in this release has been reviewed by Mark Fedikow, Ph.D. P.Geo. as the Qualified Person.
About Wildcat Exploration
Wildcat is a Winnipeg-based mineral exploration company actively exploring for gold and base metals in Canada. For further information on the company please visit our website at www.wildcat.ca or contact us at info(at)wildcat.ca.
<< On behalf of the Board
"Sol Prizant"
President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. >>