VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2012) - Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to announce that further high grade Total Rare Earth Oxide ("TREO") rock chip assay results have been attained from Kiruku Hill, three kilometers north east of the Mrima Hill Niobium and Rare Earth Project.
- Significant Total Rare Earth Oxide and Yttrium ("TREO") rock chip results of 4.45%, 3.00% and 2.53% at Kiruku Hill collected over 3km from Mrima Hill ("Figure 1").
- Anomalous TiO2 rock chip results of 3.97%, 3.69%, 3.04%, 2.44% and 2.24% at Jombo Hill.
- Strong correlation with the location of the new rock chip results and the Regional Total Count Radiometric data (Figure 1) supporting Professor Ken Collerson's interpretation of a large intrusive complex.
To view Figure 1, please visit: http://media3.marketwire.com/docs/paw320_F1.pdf.
A total of thirty-four rock chips were collected from surface expressions of the Dzombo Intrusive Complex, focusing on TREO from both fenitised (hydrothermal alteration to surrounding rock) and intrusive igneous rock. Results from twenty of these samples were previously released on the 28th of February (News Release ("NR") #2012-04), the remaining fourteen samples from Jombo Hill (9) and Kiruku Hill (5) are shown in Appendix 1. The samples are indicative of the source and presence of TREO and provide a strong target for drilling.
To view Appendix 1, please visit: http://media3.marketwire.com/docs/paw320_App1.pdf.
All sample preparation was undertaken by the Nagrom assay labs in Perth. Prepared samples were dispatched to both the Ultratrace (Nb2O5 analysis by XRF) and Genalysis (for rare earth and matrix analysis by ICP-MS) assay labs in Perth, Western Australia. Please refer to the table in Appendix 1 for a summary of new assay results.
The results at Kiruku Hill further support the historic samples collected by the Metal Mining Agency of Japan ("MMJA") who first identified the anomaly in 1993 (NR #2012-04). From a limited sample population PAW previously announced that Kiruku Hill was favorably elevated in Heavy Rare Earth Oxides and Yttrium ("HREO") with a ratio of 14.3% in proportion to Light Rare Earth Oxides ("LREO") (NR #2012-04). Undertaking a weighted average of the new results with those from announcement NR #2012-04 it is apparent that the HREO to LREO ratio of these combined rock chip results at Kiruku Hill (9.17%) (Table 3) is very similar to those from the drill results at the Mrima Hill project (9.30%) (Table 3). Samples taken at Kiruku Hill were from a 400m traverse along a ridge.
Titanium results (JR001, 3.97% TiO2, JR004, 3.69% TiO2, JR002, 2.44% TiO2 and JR003, 2.24% TiO2 (Table 1)) are also anomalous around Jombo Hill and as previously announced Nguluku Hill (NR #2012-04) indicating the likely presence of pyrochlore in the intrusion.
PAW's President and CEO, Mr. Darren Townsend, commented, "I am very pleased that these results have further confirmed the prospectivity of Kiruku Hill for Rare Earth Mineralisation. These results have further strengthened Professor Ken Collerson's interpretation of the 110km2 Dzombo Intrusive Complex within Special Prospecting License 256. Planning is underway to undertake initial exploratory drilling at Kiruku Hill this year."
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 Toronto Venture Exchange listed Canadian mineral exploration company having the trading symbol "PAW". It has a producing Tantalum mine at Muiane in northern Mozambique where it has the largest land position of over 350 square kilometers on the Alto Ligonha pegmatite belt, the location of numerous historic Tantalum mines.
PAW's flagship project is located in Kenya where a conditional contract is in place whereby the Company has the right to acquire an indirect 70% interest in the Mrima Hill Niobium and Rare Earth Project. 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. In addition, substantial rare earths mineralization has been identified and work has commenced on a Rare Earth Resource RC drilling program.
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.
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 on behalf of the Company 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).
Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, 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. 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. 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 currently underway.
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.