Pacific Wildcat Resources Corp.: Further Wide and High Grade Rare Earth Intercepts at Mrima Hill Confirm High Grade Rare Earth Mineralised Zone
July 15, 2013 — Vancouver, BC (Source: Marketwired) — Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) (“PAW” or the “Company“) is pleased to report additional assay results following on from those reported in its News Release dated 26th June 2013 (See NR 2013-11 titled “Wide and High Grade Rare Earth intercepts show Mrima Hill Mineralisation Open to the South”) from the next 655 metres (7 holes) of Reverse Circulation (“RC”) drilling at the Mrima Hill Niobium and Rare Earth Project (PAW indirect 70% ownership) in Kenya.
These assay results are from holes drilled across the centre of what is historically understood to be a higher grade zone of Rare Earth mineralization at Mrima Hill. Results continue to demonstrate the presence of Wide and High Grade zones of mineralization and remain open laterally and at depth. In addition elevated niobium (“Nb2O5“) results have also been intersected in a number of holes further confirming the potential of this large mineralized system.
- Wide zones of Total Rare Earth Oxides including Yttrium (“TREO“) intercepts from surface including 105m at 6.97% TREO which is mineralised to end of hole and includes 35m at 8.50% TREO
- 105m at 7.17% TREO from surface to end of hole including 53m at 8.12% TREO
- 100m at 6.18% TREO from surface to end of hole including 13m at 10.59% TREO; and
- 86m at 6.23% TREO from surface.
- 105m at 0.84% Nb2O5 from surface to end of hole including 31m at 1.15% Nb2O5 from 5m and 15m @ 1.11% Nb2O5 from 41m; and
- 105m at 0.66% Nb2O5 from surface to end of hole including 37m at 0.98% Nb2O5 from 9m and 5m @ 1.43% Nb2O5 from 100m to end of hole.
Get our daily investorintel update
PAW’s President and CEO, Mr. Darren Townsend, commented, “With the receipt of these further seven high grade holes we can now finalise the updated Niobium Resource Estimate and Inaugural Rare Earth Resource for Mrima Hill which we expect to complete within the next four weeks.”
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 7 RC holes forming the basis of this News Release are situated across the center of the southern zone of the high grade TREO area identified by the Kenyan Mines Department in the 1950’s (refer to contours on Figure 1).
These results are from holes drilled vertically between 54-105m depth. All holes reported with the exception of Holes PAWRC068 end in mineralisation, remaining open at depth in highly prospective clays.
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 1-4, please click on the following link: http://media3.marketwire.com/docs/paw715_F1-4.pdf.
Significant Rare Earth Results
|PAWRC063:||105m at 6.97% TREO from surface to end of hole including 35m at 8.50% TREO from 43m.|
|PAWRC068:||67m at 5.59% TREO from surface and;|
|8m at 1.73% TREO from 69m and;|
|3m at 1.24% TREO from 94m.|
|PAWRC071:||53m at 6.04% TREO from surface and;|
|37m at 2.16% TREO from 55m and;|
|8m at 6.87% TREO from 94m to end of hole.|
|PAWRC072:||105m at 7.17% TREO from surface to end of hole including 25m at 8.51% TREO from 13m and 53m at 8.12% TREO from 41m.|
|PAWRC075:||100m at 6.18% TREO from surface to end of hole including 13m at 10.59% TREO from surface and 61m at 6.65% TREO from 19m.|
|PAWRC076:||54m at 5.78% TREO from surface to end of hole including 35m at 7.87% TREO from surface.|
|PAWRC082:||86m at 6.23% TREO from surface to end of hole* including 36m at 6.99% TREO from 1m.|
|* – Hole depth is 87m however final sample is missing|
Significant Niobium Results
|PAWRC063:||105m at 0.66% Nb2O5 from surface to end of hole including 37m at 0.98% Nb2O5 from 9m and 5m at 1.43% Nb2O5 from 100m.|
|PAWRC068:||6m at 0.42% Nb2O5 from surface and;|
|24m at 0.90% Nb2O5 from 13m and;|
|60m at 0.74% Nb2O5 from 42m.|
|PAWRC071:||13m at 0.44% Nb2O5 from surface and;|
|43m at 0.76% Nb2O5 from 17m including 6m at 2.15% Nb2O5 from 39m.|
|PAWRC072:||105m at 0.84% Nb2O5 from surface to end of hole including 31m at 1.15% Nb2O5 from 5m and 15m at 1.11% Nb2O5 from 41m.|
|PAWRC075:||81m at 0.45% Nb2O5 from surface.|
|PAWRC076:||38m at 0.70% Nb2O5 from surface.|
|PAWRC082:||77m at 0.42% Nb2O5 from surface including 16m at 0.70% Nb2O5 from 32m.|
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 the 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 on the following link: http://media3.marketwire.com/docs/paw715_T1-2.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.
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>