Working in Established Gold and Base Metal Camps
Wildcat Exploration Ltd. (TSXV: WEL) was formed around a nucleus of gold properties in the developing Rice Lake, MB camp. In recent years the camp’s pedigree has been established by San Gold Corporation, with total published gold reserves and resources now exceeding three million ounces. Wildcat has recently added strategically-located gold and base metal projects the mining-friendly central Canadian provinces.
Read Wildcat Exploration's Article in CHF Spotlight No. 64
- Projects in Ontario, Manitoba and Saskatchewan
- Key gold projects in the Rice Lake camp and between Red Lake and Pickle Lake
- Also exploring for Cu and Zn in Flin Flon Greenstone Belt and Ni in the Thompson Nickel Belt
- Projects are 100% owned with no option payments
- Several winter drill programs were undertaken
- San Gold (TSX: SGR) can earn in in 80% on three projects by incurring exploration expenses.
- Cash $1.2 million at December 31, 2011
McVICAR PROJECT, Ontario - GOLD
The McVicar Project (5,120 ha) is situated in the Lang Lake greenstone belt in the Uchi geological sub province which hosts the Rice Lake, Red Lake and Pickle Lake gold camps. The project is 30 km northwest of the past-producing, high grade Golden Patricia Mine (produced 450,000 oz of gold at 0.7 oz per ton).
Wildcat is prospecting and sampling along strike from the Chellow Vein which resembles the gold mineralization of the Golden Patricia deposit. Wildcat is also assessing the low grade, bulk tonnage potential of gold-bearing, narrow pyrite-quartz veins and pyrite-bearing tonalities in the Shonia and Sor Zones where historic exploration concentrated on high-grade vein deposits. Diamond drilling is planned for the winter of 2012 on the Shonia and Sor Zones and the area southeast of the Chellow Vein.
MIKE POWER, JEEP and POUNDMAKER PROJECTS, Manitoba - GOLD, PGE
Within the Rice Lake greenstone belt, the Mike Power Project (3,029 ha) is located approximately 3.5 km northwest of San Gold Corporation’s Rice Lake gold deposit. The 2011 drill program intersected anomalous, discontinuous gold concentrations in a shear zone in 235 m of drill core. The Poundmaker Project (12,176 ha) holds similar exploration potential to the adjacent Mike Power project.
The Jeep Project (4,016 ha) is located approximately 14 km east of the Rice Lake mine site and includes the Jeep Mine which produced approximately 14,000 oz of gold at a grade of 0.78 oz per ton in the late 1940’s. Wildcat’s latest results, including 0.29 m grading 55.1 g/t Au and 0.78 m grading 109.5 g/t gold indicate further potential Au mineralization south of the Jeep Mine shaft.
In August 2011 Wildcat granted an option to San Gold to earn an 80% interest in all three projects by completing $5.1 million of exploration work over four years and by paying $1 million cash and subscribing for $1 million of shares over three years. The first year’s program of geophysics and diamond drilling was begun in January 2012 whereby San Gold are drilling 5,000m in 25 holes at Mike Power, Poundmaker and Jeep.
REED PROJECT, Manitoba - BASE METALS (Copper)
The Flin Flon Snow Lake greenstone belt is one of the largest Paleoproterozoic volcanogenic massive sulphide ore deposit districts in the world, containing 27 copper-zinc-gold deposits from which more than 183 million tones of sulphide ore have been mined.
Wildcat’s Reed copper-zinc Project (8,560 ha) in west-central Manitoba is located on the western side of Reed Lake. The property lies between the Rail copper-zinc deposit of Rockcliff Resources on the northern property boundary and the Reed copper deposit of HudBay Minerals and VMS Ventures, approximately 4 km to the south. Wildcat’s previous work includes a sample grading 1.58% copper collected from a shear zone in the northern area of the property. An airborne VTEM survey was done in October 2011 and will be followed by drilling in the winter of 2012.
BURNTWOOD PROJECT, Manitoba - BASE METALS (Nickel)
Since its discovery in the 1950’s the Thompson Nickel Belt has produced more than four billion pounds of nickel from several mines.
Wildcat’s Burntwood Nickel Project, located 55 km southwest of Thompson, Manitoba, was 100% optioned from Anglo American plc (Anglo) in January 2011. A drill program commenced in December 2011 which identified 0.28% nickel from 169.6 m to 180.6 m and an amazing find of 152.5 g/t gold from 125.9 m to 126.9 m. Further exploration is ongoing with assays expected in February 2012.
JOHN KNOWLES, B.Comm., C.A.PRESIDENT & CEO TOM LEWIS, B.Sc. Geo., P.Eng. VP OF EXPLORATION
GLEN GOWRYLUK, C.A. CHIEF FINANCIAL OFFICER
Board of Directors
John Knowles, B.Comm., C.A.
Glen Gowryluk, C.A.
Andrew W. Daniels, B.Sc. Management
Dennis G. Fillion, C.M.A.
Charles G. Pitcher, B.Sc. Mining, P.Eng.
Ed W. Yarrow, B.Sc. Geo, P.Geo.