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PAW Diamond Drill Assay Results Continue to Return High Grade Niobium and REO Mineralisation and Confirms Depth Potential at Mrima Hill

25.10.2011  |  Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 25, 2011) - Pacific Wildcat Resources Corp. (TSX VENTURE: PAW) ("PAW" or the "Company") is pleased to report assay results from the second batch of 471 metres (3.5 holes) of a 1,540 metre diamond drilling program at the Mrima Hill Project in Kenya.


Highlights

- High grade and wide intercepts of niobium mineralisation intersected in the weathered zone including 2.03% Nb2O5 from surface to 51.95m and 1.30% Nb2O5 from 23.4m to 123.65 m (which includes 39.6m at 1.70% Nb2O5 previously reported on September 13th, 2011);

- Wide high grade Total Rare Earth Oxide ("TREO") intercepts at depth with 5.69% TREO from 50.85m to 89.35 m;

- Wide High Grade Rare Earth Oxide intercepts 4.85% TREO from surface to 46.1 m and 4.60% TREO from surface to 46.45 m.

- Rare Earth and Niobium mineralisation shown to extend below 100m depth from surface;

- Potential high value mix of Heavy Rare Earth Oxides and Yttrium confirmed at depth; and

- Potential Rare Earth Oxide resource drilling target now confirmed.


Results

Significant Niobium and TREO mineralisation was encountered in all four diamond drill holes that are the subject of this media release. See Figure 1 for a map showing the location of diamond holes.


Significant Rare Earth Results

DRILL HOLE INTERSECTION

PAWDD005:
- 4.85% TREO from 23.40m to 69.5 m (46.1m width),* and
- 2.76% TREO from 72.50m to 101.65 m (29.15m width) and
- 1.99% TREO from 110.15m to 118.15 m (8m width)

PAWDD007:
- 2.69% TREO from surface to 13.2 m (13.2m width), and
- 1.37% TREO from 70.0m to 74.0m (4.0m width), and
-2.04% TREO from 103.0m to 107.0 m (4.0m width)

PAWDD008:
- 4.60% TREO from surface to 46.45 m (46.45m width)

PAWDD009:
- 5.03% TREO from 0.5m to 25.85m (25.35m width), ** and
- 2.94% TREO from 36.35m to 38.35 (2.5m width), and
- 3.66% TREO from 43.85m to 46.85m (3m width), and
- 5.69% TREO from 50.85m to 89.35m (38.5m width), ** and
- 4.81% TREO from 91.85m to 109.85 m (18m width), and

- 1.76% TREO from 119.35m to 141.35 m (22m width)

* 0-63m previously reported in the news release #2011-20 on 13th September 2011
** Intercept includes internal dilution intervals (each up to 2m) recorded at zero grade where insufficient sample returned


The assay results reported for TREO are analysed from the Genalysis Laboratory in Perth using peroxide fusion and acid dissolution with ICP-MS finish. All samples collected were from cutting the HQ3 diameter core in half which was drilled by triple tube techniques. Table 1 provides a summary of the TREO results.


Significant Niobium Results

DRILL HOLE INTERSECTION

PAWDD005:
- 1.30% Nb2O5 from 23.4m to 123.65 (100.25m width)*

PAWDD007:
- 0.58% Nb2O5 from surface to 13.2m (13.2m width), and
- 0.90% Nb2O5 from 103m to 107m (4m width) (note between 13.2-84.5m a total of 50.1m not assayed or reported due to poor sample return)

PAWDD008:
- 2.03% Nb2O5 from surface to 51.95m (51.95m width), and
- 0.72% Nb2O5 from 75.85m to 89.4m (10.55m width)

PAWDD009:
- 0.56% Nb2O5 from 4.35m to 11.85m (7.5m width)
- 0.74% Nb2O5 from 21.85m to 25.85m (4m width)
- 0.62% Nb2O5 from 50.85m to 89.35m (38.5m width) **
- 0.55% Nb2O5 from 91.85m to 103.35m (11.5m width)

* 0-63m previously reported in the news release #2011-20 on 13th September 2011
** Intercept includes internal dilution intervals (each up to 2m) recorded at zero grade where insufficient sample returned



These reported Niobium results are from the Ultratrace assay labs in Perth using XRF assay techniques. All samples collected were from cutting the HQ3 diameter core into half which was drilled by triple tube techniques. All sample preparation was undertaken by the Nagrom assay labs in Perth with prepared samples dispatched to both the Ultratrace and Genalysis assay labs in Perth. Please refer to Table 3 for a summary of Niobium results.

Drilling was carried out through regolith and an underlying saprolitic clay layer aiming to extend through the saprolite weathered zone into weathered or fresh carbonatite bedrock. This was achieved by all holes apart from PAWDD008 which finished in saprolite due to ground conditions.

Sample interval lengths ranged from one to three metres depending upon the recovery and geological boundaries. Issues with recovery occurred due to a combination of regolith and clays being washed away during drilling, zones of partially weathered carbonatite rubble blocking the bit and the presence of cavities which are currently estimated to make up 3 to 8% of both the regolith and clay profile. Recovery issues were addressed during the programs duration, showing a marked improvement as the program has progressed. Where recovery for the interval fell below 30%, results have not been quoted (unless specific mention has been made). Ongoing density testing shows that the saprolite and regolith have a specific gravity of ~1.85-2.05 t/m3.

Hole PAWDD005 was extended from 63m (as previously reported on the 13th September 2011). PAWDD006 was considered to have unacceptable recovery and was re-drilled as hole PAWDD008.

Core recovery in the intervals reported was acceptable being generally in the range of 60-70% or better and this is recorded in Tables 1 and 3.


Heavy Rare Earth Oxides plus Yttrium Content

Based on the results from the diamond core assays to date (915metres) the combined Yttrium and Heavy REO percentage (expressed as a percentage of the total proportion of Total REO plus Yttrium) is 10.82%. This represents a relatively high proportion of Heavy REO's plus Yttrium when compared to many other mineral deposits and represents a potential high value product (see the following link: http://media3.marketwire.com/docs/paw-taba.pdf).


Depth Potential

As can be seen from Figure 4 the recent diamond drilling program has substantially extended the depth potential of the Niobium mineralisation from that identified in the Reverse Circulation drilling previously announced on the 27th of April and the 5th of May 2011. The Company has previously announced on the 7th of July 2011 a NI 43-101 compliant independent Inferred Niobium resource of 105.3Mt at 0.65% Nb2O5 which was restricted to a maximum depth of 30 metres from surface. These results show the potential to significantly increase this stated resource with further deep drilling.

The diamond drilling results also demonstrate the significant depth potential of the REO mineralisation as illustrated in Figure 5. Together with the previous Reverse Circulation drilling these results have shown that the mineralisation extends to significant depths and offers the potential, with further drilling, to realise a considerable resource.


Technical Details of the Diamond Drill Program

The eight diamond holes drilled to date have been drilled at various orientations in order to best intersect the predicted mineralisation. The results presented here represent the second 471m of assays from this program which is planned to total 1,540m. Please see Figure 1 for the location of the completed and planned diamond holes drilled by PAW in 2011 overlying a geological map taken from mapping by Anglo American in the mid 1950's. Figures 2 and 3 shows the significant intersections of all the diamond hole assays received to date for Niobium and REO respectively.

Significant Niobium mineralisation was encountered by the Company in all diamond holes covered in the release, with the most significant assays from PAWDD005 and PAWDD008. These two drill holes were specifically targeting the known Niobium mineralised area in the north. Drill Hole PAWDD009 was targeting what is principally considered a REO mineralisation zone but also intersected significant Niobium mineralisation. For a record of all intersections from the diamond holes being reported please refer to Table 1.

The higher grade REO intersections coincide with the southern zone of mineralisation, as seen in drill hole PAWDD009. Significant TREO values are reported from all holes and this also included PAWDD005, PAWDD007 and PAWDD008 which were holes sited to drill the identified Niobium mineralisation. For a record of the TREO intersections reported please refer to Table 3.

For all diamond core assays received to date, Thorium levels encountered average 505 ppm in the Niobium intercepts and 510 ppm in the Rare Earths intercepts.


Closing Comments

PAW's President Mr. Darren Townsend commented "These second set of diamond results confirm the significant depth potential of the Mrima Hill deposit. As can be seen from the cross sections we have now shown the high grade Niobium mineralisation extends at depths substantially deeper than the initial Inferred Niobium resource which is limited to a depth of 30 metres. The drilling also indicates the Total Rare Earth Oxide mineralisation extends to significant depths, supporting the potential for a considerable Rare Earth Oxide resource target. Diamond drilling continues on site with a further 600m to be completed and dispatched for assay to complete this stage of exploration. Subject to regulatory approvals the Company plans to commence a Rare Earth Oxide Reverse Circulation drilling campaign this quarter with a view to estimating an initial Rare Earth Oxide Resource and updated Niobium resource in the second quarter of 2012"


ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.

Darren Townsend
President



About Mrima Hill

The Mrima Hill Project is located in the southeast of Kenya and is 70 kilometres south of Mombasa, the largest port in East Africa. The ground area covered by the Mrima Hill licenses is 1,180 sq. km and the license is held by private Kenyan company Cortec Mining Kenya. ("CMK"). PAW has a conditional contract to purchase 70% indirect ownership of CMK.


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, work programs and 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. 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. Resource estimates, unless specifically noted, are considered speculative. There can be no assurance that the Company will be able to obtain a mining license or any of the permits that are required in order to commence mining operations at the Mrima Hill Project. The rare earths historical resource estimates is considered speculative and therefore noncompliant with National Instrument 43-101 ("NI 43-101") reporting standards and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or reserves. The Company has not undertaken any independent investigation of the historic rare earths resource estimates. The Company believes that these historical resource estimates provide a conceptual indication of the potential of mineral occurrences within the project and are relevant to ongoing exploration. The Company intends to confirm the historic resource estimates through drilling as soon as possible.


QUALIFIED PERSON

The individuals who completed the Niobium mineral resource estimate have extensive experience in the mining and exploration industry and are members in good standing of appropriate professional institutions are as follows:

- Dr William (Bill) Northrop, PhD, Pr. Sci. Nat. (400164/87), FSAIMM, FGSSA, MGASA
- Mr. Andre Deiss, BSc (Hons), Pr. Sci. Nat. (400007/97), MSAIMM

Dr. Northrop and Mr. Deiss are competent person's registered with the South African Council of Natural Scientists ("SACNASP") as well as with various mining and geological professional bodies and are qualified persons as defined under NI 43-101. Both Dr. Northrop and Mr. Deiss have reviewed the content of this press release and consent to its disclosure. ExplorMine has no beneficial interest in PAW or any other related companies and subsidiaries.

Timothy David Major, BSc, MSc – Geology and Mineral Exploration. 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' has reviewed the scientific and technical data and exploration data relating to the Mrima Hill Project contained in this news release and consents to its release.

A Quality Assurance/Quality Control (QA/QC) program forms part of the drilling, sampling and assay program on the Mrima Hill Project. This program includes chain of custody protocol as well as systematic submittal of certified reference materials and blank samples into the flow of samples produced by the drilling. The results of the Company's drill program have been reviewed, verified (including drill logs, assay certificates, test data and additional supporting information sources) and compiled by the Company's Exploration Manager (Timothy David Major, who is a qualified person for the purpose of NI 43-101 – Standards of Disclosure for Mineral Projects.

To view the maps and tables associated with this Press Release, please visit: http://media3.marketwire.com/docs/paw-1025-maps_and_tables.pdf.



Contact Information

Pacific Wildcat Resources Corp.
Don Willoughby
Corporate Communications Manager
+1 416 306 5777
info@pacificwildcat.com
www.pacificwildcat.com

Brisco Capital Partners Corp.
Scott Koyich/Graeme Dick
Investor Relations
+1 403 262 9888
+1 403 263 1339 (FAX)
lgermiquet@briscocapital.com
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