WILDCAT DRILL RESULTS INCLUDE 100
METRES OF 153 GRAMS PER TONNE SILVER, 13.8% MANGANESE, 4.25% ZINC, 3.72% LEAD
AND 0.19% COPPER
Vancouver, B.C., March
24, 2011 – Wildcat Silver Corporation (TSX-V: WS) ("Wildcat��� or "the Company���) is pleased to announce the
results of four additional drill holes completed on the Company's flagship
Hermosa property (formerly the Hardshell project)*
located in Santa Cruz County, Arizona.
"These results continue
to support our view that there is considerable potential to expand the resource,��� Wildcat's President and CEO,
Chris Jones said. "Further, in addition to the high grade silver we have
encountered, we have also intersected significant intervals of by-product metals.���
Of the four holes
reported, three holes were step-out holes (Hole HDS-113, HDS-121 and
HDS-123). A total of 23 holes have been drilled in the current program for a
total of 6,250 metres, of which seven holes (five
step-out holes) have been reported to date.
Step-out Holes
Hole HDS-113 is located
on the northwest corner of the currently defined Hermosa resource. It
represents one of the thickest intervals drilled to date and has encountered
significant intervals of silver and manganese mineralization from 20.4 metres below the surface to 236.9 metres.
Significant intersections include:
- An
upper zone 39 metres at depth which
intersected 18.4 metres of 69.4 g/t silver,
0.78% manganese, 0.30% zinc, 0.51% lead and 0.03% copper. This forms
a near surface blanket of mineralization that has not been quantified in
the current resource estimate and provides further potential to
significantly add to the resource.
- A
manganese oxide zone in the manto which
intersected 100.3 metres of 153.4 g/t silver,
13.79% manganese, 4.25% zinc, 3.72% lead and 0.19% copper.
Hole HDS-123 is located
northeast of the current Hermosa resource. This drill hole contains two
well-defined intervals including 57.9 metres of
61.2 g/t silver, 16.29% manganese, 4.16% zinc, 2.59% lead and 0.10% copper.
Hole HDS-121 is located
on the eastern edge of the Hermosa resource. This drill hole contains two
well mineralized intervals including an interval of 13.7 metres of 332.9 g/t silver, 7.43% manganese, 0.31% zinc,
4.35% lead and 0.14% copper and an interval of 16.8 metres of 114.9 g/t silver, 1.72% manganese, 0.95% zinc,
0.87% lead and 0.05% copper.
Infill Hole
Hole HDS-120 is located
at the extreme south end of the Hermosa resource. This drill hole encountered
four zones of significant silver and/or manganese mineralization, including
an upper zone that intersected 27.4 metres from
the surface of 55.3 g/t silver.
A summary of the drill
results are provided below:
Holes
|
|
From(metres)
|
To
(metres)
|
Interval (metres)
|
Cu
%
|
Pb
%
|
Zn
%
|
Mn
%
|
Ag
g/t
|
HDS-113
|
|
20.4
|
38.9
|
18.4
|
0.03
|
0.51
|
0.30
|
0.78
|
69.4
|
|
includes
|
22.0
|
27.9
|
5.9
|
0.05
|
0.88
|
0.28
|
1.47
|
108.8
|
|
includes
|
341
|
37.2
|
3.0
|
0.04
|
0.77
|
1.00
|
1.39
|
113.0
|
and
|
|
41.8
|
49.1
|
7.3
|
0.03
|
0.19
|
1.04
|
1.92
|
23.4
|
and
|
|
126.4
|
143.9
|
17.5
|
0.03
|
1.40
|
0.04
|
0.75
|
40.5
|
and
|
|
148.2
|
248.5
|
100.3
|
0.19
|
3.72
|
4.25
|
13.79
|
153.4
|
|
includes
|
149.4
|
157.3
|
7.9
|
0.14
|
4.94
|
3.27
|
12.13
|
182.5
|
|
includes
|
163.1
|
181.6
|
18.4
|
0.13
|
2.78
|
2.54
|
15.14
|
209.2
|
|
includes
|
186.1
|
197.3
|
11.1
|
0.19
|
3.78
|
0.94
|
7.81
|
303.9
|
|
includes
|
216.5
|
236.9
|
20.4
|
0.30
|
4.85
|
7.88
|
14.58
|
135.4
|
HDS-120
|
|
0.0
|
27.4
|
27.4
|
0.0
|
0.2
|
0.0
|
0.0
|
55.3
|
|
includes
|
13.7
|
18.3
|
4.6
|
0.01
|
0.29
|
0.01
|
0.04
|
138.1
|
and
|
|
71.6
|
93.0
|
21.3
|
0.01
|
0.13
|
0.01
|
0.32
|
26.9
|
and
|
|
128.0
|
140.2
|
12.2
|
0.04
|
0.29
|
0.39
|
12.95
|
89.2
|
and
|
|
146.3
|
154.0
|
7.6
|
0.01
|
0.05
|
0.80
|
7.81
|
20.2
|
HDS-121
|
|
182.9
|
196.6
|
13.7
|
0.14
|
4.35
|
0.31
|
7.43
|
332.9
|
and
|
|
205.8
|
222.6
|
16.8
|
0.05
|
0.87
|
0.95
|
1.72
|
114.9
|
HDS-123
|
|
57.9
|
65.5
|
7.6
|
0.03
|
0.07
|
0.01
|
0.02
|
26.4
|
and
|
|
178.4
|
236.3
|
57.9
|
0.10
|
2.59
|
4.16
|
16.29
|
61.2
|
|
includes
|
182.9
|
190.5
|
7.6
|
0.19
|
3.64
|
0.56
|
14.08
|
137.1
|
A complete listing of
drill intercepts, location map and additional details on the cross sections
will be available on the Company's website at http://www.wildcatsilver.com/ on March 31, 2011.
The Company intends to
continue to aggressively drill to the end of the year as mineralization
remains open in all directions. Exploration efforts will primarily focus on
step-out drilling with the objective of significantly expanding the current
resource. Wildcat now has four drills operating on the property (two core and
two reverse circulation).
* Wildcat's silver
project, formerly the Hardshell project, has been
renamed the "Hermosa project���. The new name reflects the
increased size and scope of the project since it was acquired and the Company
believes the new name more appropriately reflects the district rather than the
originally named historic mine.
Qualified Person
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 Laboratories prepares 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 to Inspectorate 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.
About Wildcat
Wildcat Silver 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.
For additional
information please visit http://www.wildcatsilver.com/ or contact:
Letitia Cornacchia, Vice
President, Investor Relations and Corporate Communications
Telephone: +1 416 860 6310
Email: lcornacchia@wildcatsilver.com
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.
|