Pacific Wildcat Resources Corp.: Wide and High Grade Rare Earth Intercepts Show Mrima Hill Mineralisation Open to the South
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/26/13 -- Pacific Wildcat Resources Corp. (TSX VENTURE: PAW) ("PAW" or the "Company") is pleased to report further to its News Release 2013-13 dated 21st May 2013 and titled "Assay work commences on 3,482 metres of drilling at Mrima Hill") initial assay results from the first 321 meters (3 holes) of Reverse Circulation ("RC") drilling at the Mrima Hill Niobium and Rare Earth Project in Kenya (PAW indirect 70% ownership).
These assay results are from holes drilled at the south eastern margin of what has historically understood to be the main area of Rare Earth mineralisation at Mrima Hill. Wide and High Grade zones of mineralisation have been intersected and the mineralisation is open to the South and at depth.
Highlights include:
-- Wide zones of Total Rare Earth Oxide including Yttrium ("TREO")
intercepts from surface including 108m at 6.73% TREO which is
mineralised to end of hole;
-- 78m at 5.22% TREO from surface; and
-- 31m at 5.01% TREO from surface.
President/CEO Comments
PAW's President and CEO Mr. Darren Townsend commented "These high grade and wide Rare Earth results are very exciting given the deposit is still open to the South. We look forward to receiving the assay results from the next 7 holes of the 2012 drill program which are currently at the assay laboratory. Once these results are received work will commence on updating the initial Niobium Resource Estimate and completing an inaugural Rare Earth Resource for Mrima Hill. We are very happy with the high grade nature of Rare Earths in the deposit".
Background to Drill Program and Results
During 2012 a total of 51 RC holes for 4,941m were drilled at Mrima Hill. Of this 37 holes for 3,482 metres had not been sent for analysis. The first 3 RC holes analyzed this year are situated at the southern margin of the high grade TREO area identified by the Kenyan Mines Department in the 1950's (refer to contours on Figure 1).
This initial set of assay results are from holes angled at 60 degrees and drilled between 93-120m depth. Holes PAWRC050 and PAWRC052 both end in mineralisation, remaining open at depth in highly prospective clays. The objective of these holes is to provide additional data towards a maiden TREO Resource Estimate expected in the third quarter of 2013.
Figure 1 shows a plan location of the RC drill holes as drilled
Figure 2 depicts a plan view of significant results for TREO mineralization
Figures 3 and 4 show cross sections through the TREO mineralization
To view Figures 1 through 4, please click the following link: http://media3.marketwire.com/docs/paw0626a.pdf.
Significant Rare Earth Results
DRILL HOLE INTERSECTION
PAWRC050: 108m at 6.73% TREO from surface to end of hole including 23m at
8.73% TREO from 19m and 15m at 8.86% TREO from 90m.
PAWRC052: 78m at 5.22% TREO from surface and;
25m at 5.62% TREO from 95m to end of hole including 5m at 8.99%
TREO from 115m to end of hole
PAWRC053: 31m at 5.01% TREO from surface and;
2m at 2.53% TREO from 50m and;
13m at 1.55% TREO from 65m and;
12m at 1.67% TREO from 81m to end of hole
All samples collected were from the cyclone on the RC drill rig with samples fed through a sample splitter. A sample size of 1-3 kilograms was then submitted to the Nagrom assay labs in Perth with sample preparation being undertaken by this Nagrom assay laboratory. Prepared samples were then dispatched to both the Ultratrace (Nb2O5 analysis by XRF) and Genalysis (for rare earth and matrix analysis using peroxide fusion and acid dissolution by ICP-MS) assay labs in Perth, Western Australia.
Table 1 provides a summary of the TREO results from the Genalysis laboratory in Perth and Table 2 has a summary of Niobium results from the Ultratrace laboratory in Perth.
To view Tables 1 and 2, please click the following link: http://media3.marketwire.com/docs/paw0626b.pdf.
ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.
Darren Townsend, President & CEO
About Pacific Wildcat Resources Corp. - Pacific Wildcat is a TSX Venture Exchange listed Canadian mineral exploration company having the trading symbol "PAW". PAW owns 100% of Stirling Capital Ltd and Cortec Pty Ltd, two UK companies that between them own a 70% interest in Cortec Mining Kenya Limited, a Kenyan company which has the mining rights to the Mrima Hill Niobium and Rare Earth Project in Kenya. This is an ex Anglo American and Pechiney property the subject of extensive historic work. In July 2011 the Company completed an initial NI 43-101 compliant inferred niobium resource estimate of 105.3 million tonnes at 0.65% Nb2O5 for a total of 1.519 billion pounds contained Nb2O5 to a depth of 30 metres from the surface. For information about Pacific Wildcat Resources Corp. and its development and exploration activities shareholders and other interested parties are invited to visit the company's website at www.pacificwildcat.com.
Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, the completion of certain financings, work programs, the estimation of mineral resources and the Company's plans with respect to the exploration and development of its projects and its investment plans. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. In particular, there can be no assurance that the Private Placement will complete. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. There can be no assurance that the Company will be able to obtain a mining licence or any of the permits that are required in order to commence mining operations at the Mrima Hill Project.
QUALIFIED PERSON
Benjamin Craig Pollard, BSc - Mineral Exploration and Mine Geology. MAusIMM. Qualified Person under NI 43-101, and as a Competent Person as defined in the 2004 Edition of the ' Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code) has reviewed the scientific, technical data and exploration data related to the Mrima Hill Project contained in this news release and consents to its release.
Contacts:
Pacific Wildcat Resources Corp.
Terese Gieselman
Company Secretary/Chief Financial Officer
+1-250-768-0009
info@pacificwildcat.com
www.pacificwildcat.com