Wildcat Silver Improves Processing at Hardshell
November 24, 2008
Vancouver, B.C., November 24, 2008 - Wildcat Silver Corporation (TSX-V: WS) (“Wildcat” or the “Company”) is pleased to announce results from ongoing metallurgical test work at the Company’s 80%-owned Hardshell manganese/silver/zinc/copper/lead project in southern Arizona.
Over the past six months, metallurgical test work by Hazen Research Inc. has identified improvements to the initial design concept that are expected to reduce capital and operating costs by removing acid from the grinding step. Test work is ongoing and firm estimates will be provided on completion of the study. Preliminary results using the magnetic properties of Hardshell’s ore indicate further potential capital and operating cost reductions. In addition, lead recoveries of more than 80% have been achieved. Prior work had not included lead as a byproduct. Current estimates of lead grades are 2%.
Test work has also confirmed that each step of the plant process identified in the preliminary assessment published by Pincock, Allen & Holt in February 2007 produces the intermediate products as designed. (For details of the preliminary assessment please refer to the Company’s news release dated February 13, 2007, available on www.wildcatsilver.com).Chief Executive Officer Chris Jones said, “We are pleased with these encouraging results. Our plans for the coming months include further evaluation and integration of recent drill results into our geologic model, and the production of a scoping level mine design using both local and in-house talent.”
The Hardshell property is a manganese/silver/zinc/copper/lead mineralized zone located 100 kilometres southeast of Tucson, Arizona, approximately 15 kilometres north of the Mexico border. The property was discovered in 1879 and was an operating silver mine between 1896 and 1964. Previous owners drilled 104 holes totalling 13,000 metres. In February 2007 Wildcat published a positive preliminary assessment by Pincock, Allen & Holt which cited a substantial inferred resource of nearly 1.2 billion pounds of manganese along with 53.5 million ounces of silver (10.3 million tons grading 6.26% manganese and 5.18 ounces per ton silver). (For details of the preliminary assessment please refer to the Company’s news release dated February 13, 2007, available on www.wildcatsilver.com). Drilling to date by Wildcat has confirmed the general viability of the historic drill results and identified previously unknown mineralization at depth.
Wildcat is a Canadian mineral exploration company focused on development of the Hardshell project in Santa Cruz County, Arizona. The Hardshell property is held by Arizona Minerals Inc., of which Wildcat is an 80% owner. Wildcat trades on the TSX Venture Exchange under the symbol WS.
For additional information please visit www.wildcatsilver.com or contact:
Marlo Hamer-Jackson, Investor Relations Manager
Phone: (604) 484-3597
Fax: (604) 687-1715
On behalf of the Board of Directors,
President and Chief Executive Officer
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 the Corporation’s latest annual report and management discussion and analysis. The Corporation assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. For additional information, contact the Company.