Pacific Wildcat Resources Corp.
TSX VENTURE : PAW

Pacific Wildcat Resources Corp.

October 28, 2009 12:34 ET

PAW Commences Drilling on Mozambican Licences

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 28, 2009) - Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to announce that it has commenced a 1,500 metre Reverse Circulation (RC) drilling program at the Muiane mine in Mozambique. With licences totalling over 450 square kilometres, PAW is the largest single private licence holder on the Alto Ligonha pegmatite belt in northern Mozambique, a belt which contains a number of historic tantalum and lithium mine workings including the Muiane mine.

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/PAW1028.pdf

The 1,500m RC drilling program has three main aims;

1) targeting resource extensions to the existing tantalum resource base at the Muiane Mine,

2) Drilling two "twin" holes to get a better understanding of the historic Lithium information at Muiane Mine,

3) Drilling of the first holes in modern times at the Maridge Pit to confirm its potential for Tantalum mineralisation.

The first phase of the drilling will focus on the high grade Spirit Valley area located immediately east of the existing 750,000(i) pound Ta2O5 resource at Muiane. The Spirit Valley is the location of substantial historic mining. In 2007 nuggets of tantalum were recovered from the walls of this historic mining area. Although subject to very limited drilling, historic drilling results in the Spirit Valley include 10m @ 5,900 g/t Ta2O5 and 4m @ 692 g/t Ta2O5.

The second phase of drilling will focus on the drilling of two twin holes in the Litica zone of the existing resource at Muiane. As reported in the National Instrument 43-101 technical report titled "Technical Report on the Mineral Assets of Tantalum Mineracao and Prospeccao Limitada", dated 25th May 2009, ITM Mining Limited ("ITM") carried out an extensive mineral processing and geological sampling program at Muiane from May to June, 1999. A total of 24 RC drill holes were drilled to depths of between 26m and 70m for a total of 973m of which 909m was assayed. Although ITM did assay for Ta2O5 and Li2O, there is limited information on the quality control and assaying techniques used. What can be reported is that lithium mineralisation was encountered in over 80% of the total RC samples assayed and that in both the Litica Zone and quartz / spodumene zones, significant amounts of lithium mineralisation were intersected. The drilling of two twin holes will give PAW some initial information to begin understanding the historic Lithium drilling results.

The third phase of the drilling will be the drilling of three holes at the Maridge mine located 7 kilometres North West of the Muiane Mine. The Maridge pit is the location of extensive historic mining for Tantalum. The pit is over 400m in length and approximately 20m deep. No mining has occurred at Maridge since 1974. These holes, the first drilled in modern times, will target a zone of mineralisation at the north eastern end of the pit identified from surface rock chip sampling.

Drilling is expected to take approximately four weeks to complete. All of the samples from the drilling program will be sent to Australia for assaying at a laboratory that specialises in the assaying of Tantalum and Lithium. Due to the logistics of getting the samples to Australia there will be a longer than normal lead time for the results of the program to be available.

PAW TEAM HAVE EXTENSIVE LITHIUM AND TANTALUM EXPERIENCE

The PAW team has extensive experience in the mining, processing and marketing of lithium and tantalum. From 2001 to 2004, PAW director Mr David Paull was responsible for selling of over half the world's tantalum and two thirds of the world's hard rock lithium production in his role as Executive General Manager of Marketing and Business Development for Sons of Gwalia in Western Australia.

Mr David Bale, a geologist and metallurgist by background, consults to PAW. Mr Bale has over 30 years experience in the tantalum and lithium mining industry including a period as Managing Director of Lithium Australia Limited. From 1996 to 2007, Mr Bale was Executive General Manager of the Minerals Division for Sons of Gwalia. During this period he was responsible for managing the production of over half the world's tantalum and two thirds of the world's hard rock lithium.

Mr Darren Townsend, PAW's President/CEO, is a mining engineer with over 15 year's mining industry experience. Mr Townsend was previously General Manager at the Wodgina tantalum mine in Western Australia where over a period of five years he was instrumental in overseeing the expansion of the operation into what was then the world's largest Tantalum operation.

SHORT TERM COMPANY STRATEGY

The Company's strategy is to aggressively explore delineated tantalum targets on licences with the objective of adding to the existing tantalum resource base and gaining a better understanding of the lithium potential of the properties. In addition to planning following up drilling from the current drill program once the results are available the company will begin an extensive trenching program over the coming months on its exploration licences with the aim of identifying additional drill targets.

SUMMARY

The Chairman Mr Terry Lyons said today, "As promised we have commenced our first drill program within 3 months of closing the transaction to acquire the properties. We are now looking forward to the results of this initial drill program."

QUALIFIED PERSON AND DISCLAIMER

Qualified Person: Michael John Sperinck, BSc – Geology and Chemistry, MAusIMM, an independent consultant with Global Mining Services and qualified person under the NI 43-101, has reviewed the technical contents relating to the Muiane mine for this news release.

Disclaimer: The Company wishes to clarify that certain information in this news release is based on historic data and references. A qualified person has not done sufficient work to validate all of the historical data and some of this data has had little or no quality assurance / quality control. As a result, this historic data should not be relied upon. Further, there has been insufficient exploration work completed to define a lithium resource and it is uncertain if further exploration will result in the discovery of a lithium resource.

ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.

Darren Townsend, President

Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include unsuccessful exploration results, changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

(i) As reported in the National Instrument 43-101 technical report titled "Technical Report on the Mineral Assets of Tantalum Mineracao and Prospeccao Limitada", dated 25th May 2009 and as prepared by Global Mining Services and filed on www.sedar.com under the Company's profile.

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.

Contact Information

  • Pacific Wildcat Resources Corp.
    Darren Townsend
    President
    Toll Free: 1-888-860-2666
    250 860-2957 (FAX)
    www.pacificwildcat.com