Wildcat Drill Results Include 26 Meters Of 346.52 G/T Silver, 12.24% Manganese, 3.16% Zinc, 4.22% Lead and 0.30% Copper
April 18, 2011
VANCOUVER, April 18 /CNW/ - Wildcat Silver Corporation (TSX-V: WS) (“Wildcat” or “the Company”) is pleased to announce the results for an additional 11 holes completed on the Company’s Hermosa property located in Santa Cruz County, Arizona.
Of the 11 holes reported, seven holes are step-out holes (Hole HDS-117, HDS-118, HDS-128, HDS-130, HDS-131, HDS-133 and HDS-135). The Company continues to focus on increasing the width and length of the current resource and these results further support the extension of mineralization.
A complete list of drill intercepts, location map and 3D model of the Hermosa mineralization are available on the company’s website at www.wildcatsilver.com.
HDS-117 was drilled across or in the northwest-southeast trending American Fault and connects the down dropped mineralization intersected in previously disclosed holes HDS-121 and HDS-119 (see map attached). Of note, HDS-117 intersected 25.9 metres of 346.52 g/t silver, 12.24% manganese, 3.16% zinc, 4.22% lead and 0.30% copper, demonstrating excellent silver, manganese, lead and zinc grades.
HDS-118, a step-out of approximately 150 metres to the north of the existing resource, intersected significant thicknesses of manganese, lead and zinc mineralization with moderate silver grades. HDS-130, a larger step out to the north of HDS-118, intersected a horizon of strong manganese.
The Company is prioritizing drilling to expand the resource in the north and east directions, particularly across the American Fault, as mineralization there appears to be demonstrating more robust silver and manganese grades.
HDS-135, located in the very south end of Wildcat’s patented claims, intersected a thin horizon of strong manganese mineralization with moderate silver.
HDS-128, HDS-131 and HDS-133 are located west of the current resource. HDS-128 and HDS-131 intersected thin to moderate thicknesses of moderate silver grades while HDS-133 intersected two horizons of moderate to strong manganese grades.
HDS-124 encountered two distinct zones of mineralization. The upper zone hosts low manganese but silver of 113.8 g/t over 18.3 metres. The lower horizon is 22.9 metres thick containing strong manganese mineralization of 8.74% with 178.4 g/t silver. Within the lower zone there are two higher grade zones of 4.6 metres and 3.0 metres averaging 7.86% manganese and 440.8 g/t silver and 23.2% manganese and 397.5 g/t silver, respectively.
HDS-126 is located in the southern portion of the current resource and intersected three intervals of moderate manganese. HDS-127 is located on the eastern margin of the current resource and intersected mineralization characteristic for the upper horizon in the area with low manganese and moderate silver grades.
HDS-134 is located between previously reported holes HDS-112 and HDS-113. This drill hole ties that mineralization together and expands the resource to the east. In the upper horizon this drill hole encountered 12.2 metres of 9.35% manganese with strong silver grades of 318.4 g/t. In the lower horizon the drilling encountered 33.5 metres of strong manganese and silver mineralization accompanied by significant lead and zinc.
A summary of the drill results are provided below. Please also see attached map.
| Drill |
| From |
| To |
| Interval |
| Ag |
| Mn |
| Zn |
| Pb |
| Cu |
The Company will continue to aggressively drill with focus on step-out drilling in the north and east directions and enough in-fill drilling to achieve the objective of significantly expanding the size and quality of the current resource. Wildcat has four drills operating on the property (two core and two reverse circulation).
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 Laboratoriesprepares 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 toInspectorate 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 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.
Attached map: http://files.newswire.ca/918/HermosaMap.pdf