VANCOUVER, Dec. 13 /CNW/ - Wildcat Silver Corporation (TSX-V: WS) ("Wildcat" or "the Company") announces that it has started its next
phase of drilling on its 80% owned Hardshell property in Arizona. The
Company has awarded the contracts for the core drilling and reverse
circulation drilling portions of the planned exploration drilling
program. The first reverse circulation drill has arrived and has
commenced drilling on site.
"This next phase of work is an important step in executing the extensive
drilling program we have planned for 2011," commented Chris Jones,
Wildcat's President and Chief Executive Officer. "We intend to
continue our track record of increasing the resource, as our
exploration efforts will be focused on resource expansion at the
Hardshell project. We believe considerable upside exists, particularly
in the case of silver, as there are several unexplored areas which
exhibit potential around the current resource."
Wildcat plans to execute a 12,500 ft (3,800 metre) exploration drilling
program designed to evaluate high quality potential targets with the
objective of expanding the current existing mineral resource of 6.0
million tonnes grading 187.8 grams per tonne silver for a total of 36
million ounces of silver in the indicated category and 46.3 tonnes
grading 58.6 grams per tonne silver for a total of 85 million ounces in
the inferred category (See attached map). As part of the exploration
program, the Company also plans to undertake drilling to provide
material for metallurgical studies designed to optimize recoveries,
streamline the flow sheet and improve operating costs.
Wildcat Cat Silver is a Canadian mineral exploration company focused on
development of Hardshell, its 80% owned silver-manganese project
located in Santa Cruz County, Arizona. The recently completed updated
preliminary economic assessment estimates average annual production
four million ounces of silver over an 18 year mine life at industry low
cash costs of negative $5.84 per ounce net of by-product credits. The
project currently has an indicated mineral resource of 6.0 million
tonnes averaging 187.8 grams per tonne silver and 6.83% manganese for a
total of 36 million ounces of silver and 410,000 tonnes of manganese,
in addition to an inferred mineral resource of 46.3 tonnes averaging
58.6 grams per tonne silver and 7.44% manganese for a total of 85
million ounces of silver and 3.4 million tonnes of manganese.
Wildcat trades on the TSX Venture Exchange under the symbol WS.
To view a map of the Hardshell property, please go to http://files.newswire.ca/918/Wildcat.doc
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.
FORWARD LOOKING STATEMENTS
The statements that are not historical facts are forward-looking
statements involving known and unknown risks and uncertainties that
could cause actual results to vary materially from targeted results.
Such risks and uncertainties include those described from time to time
in Wildcat's latest annual report and management discussion and
analysis. Wildcat assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CAUTIONARY NOTE CONCERNING INFERRED MINERAL RESOURCES
Inferred mineral resources have a great amount of uncertainty as to
their existence and as to their economic and legal feasibility. It
cannot be assumed that an inferred mineral resource will have the
economic consideration applied that would enable it to be categorized
in the mineral reserve category, and there is no certainty that the
preliminary assessment will be realized.
For further information: For further information:
please visit www.wildcatsilver.com or contact:
Letitia Cornacchia, Vice President, Investor Relations and Corporate Communications
Telephone: +1 416 644 5084