Foster River Property

Property Description
Wildcat holds a 100% interest in the Foster River zinc-lead property in Northern Saskatchewan, located approximately 120 km north of the town of La Ronge. The property consists of five claims (11,873 ha), three of which (8,089 ha) are subject to a 2% net smelter royalty.
Multiple lines of evidence including age, metamorphic grade, lithologies of accompanying rocks and the presence of minerals characteristic of the SEDEX (sedimentary exhalative) type of Zn-Pb deposits, highlight compelling parallels between the Foster River Zn-Pb mineralization and that of the Broken Hill type Zn-Pb orebodies in Western Australia and elsewhere in the world. Broken Hill itself is a large deposit containing approximately 300 million tonnes of ore grading in excess of 15% combined Zn and Pb.
Past exploration of the Foster River property, undertaken over decades by prospectors and major companies, outlined several Zn-Pb occurrences of which the most significant is the Sito East, an historical (not 43-101 compliant) mineral occurrence containing 50,000 drill-defined tonnes with a grade of 4.5 % Zn.

Activities in the Fourth Quarter

Wildcat deployed field crews to the Foster River property in June 2008. Exploration and mapping activities, briefly interrupted due to forest fires, continued until mid-August. Principal work focused on structural investigation and mapping and, under the direction of Prof. P. Spry of Iowa State University who is a member of the Company’s Technical Advisory Panel, comparative studies of the composition and geochemistry of mineralization at Foster River and Broken Hill.
Wildcat’s objectives for its 2008 summer activities were twofold: a) to confirm the continuity and, if possible, to extend the confirmed length of the mineralized host rock layer between several well documented but isolated Zn-Pb occurrences and b) to understand the structure and deformation history of the mineralized layer for use in guiding the exploration of structurally thickened parts of the minerals’ host rock.
The mineralized layer was either directly observed or, in absence of direct evidence where obscured by overburden or lakes, through the identification of stratigraphic markers. It has now been traced for approximately 45 kilometres in a southwesterly direction between Mackie Lake and the Willis Lake occurrence. Along this distance, the quartzite layer hosts twelve Zn-Pb showings, one Cu showing and one Au showing. Wildcat’s Foster River property includes most of these mineral occurrences.
In addition, the Company’s geologists recognized several styles of folds that, in places, substantially thickened the mineralized quartzite layer. Critical are F1 shallowly plunging isoclinal folds (i.e. the fold limbs are either parallel to each other or have the same angle) and steeply plunging isoclinal F2 folds. At Sito West, F2 folding may have produced an up to 6-fold thickening of the mineralized quartzite (5 m thickness at a fold limb, up to 30 m thickness at a fold hinge). At Sito East the mineralized layer is probably doubled by F1 folding and overprinted by F2 folding.
The Fable Lake area in the south of Wildcat’s property is the site of substantial exposures of mineralized quartzite, two well mineralized glacial boulder trains and extensive, high-contrast Zn, Pb and Ag anomalies detected in the Company’s 2006 mobile metal ions geochemical survey. The boulders, characterized by some of the highest Zn-Pb concentrations recorded on the property (up to 13.2 % Zn and 14.9 % Zn+Pb combined), may be subdivided into two distinct populations, one Zn rich and another dominantly mineralized with Pb. Tracing of the boulder trains to their putative origin, undertaken by Wollex Exploration in 1971, tentatively identified the source of the mineralization in an area covered by the Foster River and alluvial detritus.
In addition to structural work, the Company’s geologists collected further series of rock samples to study the presence or absence of an alteration zone in the vicinity of the mineralized layer to further investigate the genetic kinship between the large Broken Hill Zn-Pb deposit in Australia and Wildcat’s Foster River deposit.
A presentation at the 2009 Prospectors and Developers Association of Canada (PDAC 2009) entitled: "A Reclassification of Broken Hill Type Pb-Zn-Ag Deposits" by Prof Dr P. Spry featured the more recent developments in the ongoing study of certain similarities between the Foster River Zn-Pb mineralization and the Broken Hill mineralization.
A report comprising the integration of two airborne EM surveys flown over the property in 2005 (southern claim group) and 2008 (northern claim group) followed by the analysis and target selection with advice from Wildcat’s geophysical consultant is in progress.

Activities Contemplated for the Future
Areas considered to be of key importance for the development of this deposit are the relatively well known mineral occurrences in which multiple refolding thickened the mineralized layer (Sito West; Sito East; Fable Lake). To investigate the area north of Fable Lake, characterized by extensive MMI anomalies, the Company plans to cut grids and carry out geophysical surveys, preferably with IP, subject to availability of exploration funds. Any targets developed should be tested by drilling.
An investigation of the source of the high grade Zn-Pb bearing boulders in the Fable Lake area is another focus of future work. Despite the fact that the origin of the boulder trains is believed to be known, it has not yet been satisfactorily pinpointed nor properly evaluated by drilling.