Pacific Wildcat Resources Corp.
TSX VENTURE : PAW

Pacific Wildcat Resources Corp.

September 13, 2011 09:35 ET

PAW Diamond Drill Assay Results Return High Grade Niobium and REO Mineralisation and Indicates Significant Niobium and REO Depth Potential at Mrima Hill

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to report first assay results for the first 444 (4.5 holes) metres of its initial diamond drill program at Mrima Hill Project, located 70 kilometres south of Mombasa, Kenya. This program was designed to provide core for metallurgical test work as well as test the depth potential of the Niobium and Rare Earth Oxide mineralisation at Mrima Hill.

Highlights

  • High grade Niobium and Rare Earth Oxide ("REO") mineralisation is shown to be consistent throughout the weathered zone.
  • Mineralisation extends at depths greater than 130 metres below surface
  • All completed holes finishing in mineralisation
  • Potential high value mix of Heavy Rare Earth Oxides and Yttrium confirmed at depth

Results

Significant Niobium and REO mineralisation was encountered in all five diamond drill holes that are the subject of this media release. See Figure 1 for a map showing the location of diamond holes.

Significant Rare Earth Results

DRILL HOLE INTERSECTION
PAWDD001: 21m at 11.26% TREO ("Total Rare Earth Oxides") from 14.65m
PAWDD002: 26.25m at 5.56% TREO from 36.45m
PAWDD003: 12m at 5.48% TREO from 23m
PAWDD003: 17.3m at 4.43% TREO from 70.5m
PAWDD004: 37.05m at 5.72% TREO from 49.6m
PAWDD005: 39.6m at 5.45% TREO from 23.4m

The assay results reported for REO are analysed from the Genalysis Laboratory in Perth using peroxide fusion and acid dissolution with ICP-MS finish. All samples collected were from cutting the NQ diameter core into half which was drilled by triple tube techniques. Table 1 provides a summary of the REO results.

Significant Niobium Results

DRILL HOLE INTERSECTION
PAWDD002: 29.25m at 1.14% Nb2O5from 36.45m
PAWDD003: 11.5m at 1.05% Nb2O5from 70.5m
PAWDD005: 8.15m at 1.05% Nb2O5from surface
PAWDD005: 39.6m at 1.70% Nb2O5from 23.4m

These reported Niobium results are from the Ultratrace assay labs in Perth using XRF assay techniques. All samples collected were from cutting the NQ diameter core into half which was drilled by triple tube techniques. All sample preparation was undertaken by the Nagrom assay labs in Perth with prepared samples dispatched to both the Ultratrace and Genalysis assay labs in Perth. Please refer to Table 3 for a summary of Niobium results.

Drilling was carried out through a regolith layer of various soil profiles and an underlying saprolitic clay layer. Drilling was planned to be extended 10-20 metres into the fresh carbonatite bedrock however difficult drilling conditions meant that only PAWDD005 reached bedrock. Sample interval lengths ranged from one metre and up to three metres depending upon the recovery returned and also taking into account the geological boundaries. Recovery was poor in places due to a combination of regolith and clays being washed away during drilling, zones of partially weathered carbonatite rubble blocking the bit during drilling and the presence of cavities (currently estimated to make up 3-8% of both the regolith and clay profile). A number of steps have been taken to address the prior poor recovery which has resulted in better recoveries as drilling has progressed. Where recovery for the interval fell below 30% no results have been quoted. Density determination testing shows that in the saprolite and regolith a specific gravity of typically 1.85-2.05 t/m3 can be expected.

Heavy Rare Earth Oxides plus Yttrium Content

Based on the results from the diamond core assays to date the combined Yttrium and Heavy REO percentage (expressed as a percentage of the total proportion of Total REO plus Yttrium) is 12.32%. This represents a relatively high proportion of Heavy REO's plus Yttrium when compared to many other mineral deposits and represents a potential high value product (see below and Table 2).

To view table, please click on the following link: http://media3.marketwire.com/docs/PAWtable.pdf

Depth Potential

As can be seen from Figure 4 the recent diamond drilling program has substantially extended the depth potential of the Niobium mineralisation from that identified in the Reverse Circulation drilling previously announced. The Company has previously announced a NI 43-101 compliant independent Inferred Niobium resource of 105.3Mt at 0.65% Nb2O5 which was restricted to a maximum depth of 30 metres from surface. These results show the potential to significantly increase this stated resource with further deep drilling.

The diamond drilling results also demonstrate the significant depth potential of the REO mineralisation as illustrated in Figure 5. Together with the previous Reverse Circulation drilling these results show that the mineralisation extends to significant depths and offers the potential to realise a considerable resource with further drilling.

Technical Details of the Diamond Drill Program

The five diamond holes drilled to date have been drilled at various orientations in order to best intersect the predicted mineralisation. The results presented here represent the first 444m of assays from this program, which is planned to total 1,500m. Please see Figure 1 for the location of the completed and planned diamond holes drilled by PAW in 2011 overlying a geological map taken from mapping by Anglo American in the mid 1950's. Figures 2 and 3 shows the significant intersections of all the diamond hole assays received to date for Niobium and REO respectively.

Significant Niobium mineralisation was encountered by the Company in all diamond holes covered in the release, with the most significant assays from PAWDD005, a hole specifically targeting the known Niobium mineralised area in the north. It is important to note that although holes PAWDD001 to PAWDD004 were drilled in what is principally considered a REO mineralisation zone; results returned significant Niobium assays. For a record of all intersections from the diamond holes being reported please refer to Table 1.

Table 2 reports average results for the diamond assays received to date with the individual REO's reported as a percentage of total REO including Yttrium, a transitional element that is generally associated with REO's.

The higher grade REO intersections coincide with the southern zone of mineralisation, as seen in hole PAWDD001, however significant REO values are reported from all holes, including PAWDD005, a hole sited to drill the identified Niobium mineralisation. For a record of the REO intersections reported please refer to Table 3.

For all diamond core assays received to date, Thorium levels encountered averaged 493 ppm in the Niobium intercepts and 528 ppm in the Rare Earths intercepts.

Closing Comments

PAW's President Mr. Darren Townsend commented, "These first diamond results confirm the significant depth potential to the Mrima Hill deposit. As can be seen from the cross sections we have now proved the high grade Niobium mineralisation extends at depths substantially deeper than the initial Inferred Niobium resource which is limited to a depth of 30 metres. The drilling also indicates the REO mineralisation extends to significant depths, supporting the potential for a considerable REO resource. We look forward to the results from the next batch of assays with 380.65 metres of core now at the laboratory in Perth awaiting assay."

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

Darren Townsend, President

Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, work programs and investment plans. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Resource estimates, unless specifically noted, are considered speculative. There can be no assurance that the Company will be able to obtain a mining licence or any of the permits that are required in order to commence mining operations at the Mrima Hill Project. The rare earths historical resource estimates is considered speculative and therefore noncompliant with National Instrument 43-101 ("NI 43-101") reporting standards and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or reserves. The Company has not undertaken any independent investigation of the historic rare earths resource estimates. The Company believes that these historical resource estimates provide a conceptual indication of the potential of mineral occurrences within the project and are relevant to ongoing exploration. The Company intends to confirm the historic resource estimates through drilling as soon as possible.

QUALIFIED PERSON

The individuals who completed the Niobium mineral resource estimate have extensive experience in the mining and exploration industry and are members in good standing of appropriate professional institutions are as follows:

  • Dr William (Bill) Northrop, PhD, Pr. Sci. Nat. (400164/87), FSAIMM, FGSSA, MGASA
  • Mr. Andre Deiss, BSc (Hons), Pr. Sci. Nat. (400007/97), MSAIMM

Dr. Northrop and Mr. Deiss are competent person's registered with the South African Council of Natural Scientists ("SACNASP") as well as with various mining and geological professional bodies and are qualified persons as defined under NI 43-101. Both Dr. Northrop and Mr. Deiss have reviewed the content of this press release and consent to its disclosure. ExplorMine has no beneficial interest in PAW or any other related companies and subsidiaries.

Timothy David Major, BSc, MSc – Geology and Mineral Exploration. MAusIMM. Qualified person under NI 43101, and as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' has reviewed the scientific and technical data and exploration data relating to the Mrima Hill Project contained in this news release and consents to its release.

A Quality Assurance/Quality Control (QA/QC) program forms part of the drilling, sampling and assay program on the Mrima Hill Project. This program includes chain of custody protocol as well as systematic submittal of certified reference materials and blank samples into the flow of samples produced by the drilling. The results of the Company's drill program have been reviewed, verified (including drill logs, assay certificates, test data and additional supporting information sources) and compiled by the Company's Exploration Manager (Timothy David Major, who is a qualified person for the purpose of NI 43-101 – Standards of Disclosure for Mineral Projects).

To view Figures 1-5 and Tables 1-3, please click on the following link: http://media3.marketwire.com/docs/0913PAW.pdf

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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.

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