WINNIPEG, MANITOBA--(Marketwired - June 3, 2014) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that the Wildcat - Doe Run Canadian Exploration Alliance (the "Alliance") has approved a work program of approximately $500,000 at its Island Lake property, located approximately 4 km southeast of the former Heath Steele zinc-lead mine in Northumberland County, N.B. The program, to be carried out in June through August, 2014, includes geophysical and geochemical surveys, mapping and sampling, overburden drilling and a total of approximately 2,500 m of diamond drilling.
Based on review of airborne MegaTEM data, 21 electromagnetic ("EM") targets have been identified as anomalous on the Island Lake property. A preliminary assessment of the targets has been made and Wildcat geologists will further evaluate them on the ground in June. EM and magnetic ground-based surveys will be performed on the best targets with a total of 21 line-km of geophysical surveys planned. The survey results will be used to identify the most prospective drill targets on the property.
The Alliance plans to drill at the Railroad Zone to follow up on mineralization intersected during 2013 (see news release dated September 9, 2013). Drilling is also planned at the Roche Long Lac area of the property to test down dip from previously intersected zinc and lead mineralization and to investigate a coincident magnetic and EM anomaly. Additional drill targets may be determined from the ground surveys in the current work program.
The Alliance is a strategic, base metal exploration agreement between Wildcat and Doe Run Canadian Exploration ULC ("Doe Run Canadian"), a British Columbia registered company (see news release December 11, 2012). Under the terms of the Alliance, properties are acquired and held by Doe Run Canadian, subject to Wildcat's right, under certain circumstances, to earn up to a 30% interest in one or more properties.
Wildcat's exploration program is managed by Tom Lewis, P.Eng., a Qualified Person as defined by NI 43-101, who has reviewed and approved all technical information in this release.
Wildcat Exploration Ltd. is a Winnipeg-based company exploring for gold and base metals in Canada. It manages exploration on its own properties in Ontario, Manitoba and Saskatchewan. In addition, Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration Alliance which explores in Canada for base metal deposits.
For further information on Wildcat, please visit www.wildcat.ca.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "believes", "plans", "seeks", "expects", "budget" or variations of such words or statements that certain actions, events or results may, could, will, will be, would be or are expected to be. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.