VANCOUVER, April 25 /CNW/ - Wildcat Silver Corporation (TSX-V: WS) ("Wildcat" or "the Company") is pleased to announce the results for two additional step-out holes completed on the Company's Hermosa property located in Santa Cruz County, Arizona. 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-125 and HDS-141 are located in the northern area where the Company is focusing on expanding the resource. HDS-125 intersected three zones of mineralization with strong manganese mineralization accompanied by lead, zinc and silver. The most noteworthy is the lower zone which intersected a 16.2 metre thick (drill thickness) zone which averaged 175 g/t silver, 13.22% manganese, 1.78% zinc, 2.08% lead and 0.10% copper. HDS-141 intersected two zones of which the lower zone intersected 68.6 metres of 78.9 g/t silver, 13.69% manganese, 1.83 % zinc, 1.55% lead and 0.08% copper.
A summary of the drill results are provided below. Please also see attached map.
|Hole||From (metres)||To (metres)||Interval (metres)||Ag g/t||Mn|
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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 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.
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/Hermosa_Map4_25_11.pdf