Iskwasum Property

Property Description
The Iskwasum property comprises 13 claims covering 2,655 hectares located approximately 9 km east of Reed Lake. The property is underlain by an intensely deformed mafic to ultramafic complex with a potential to contain economically significant Ni Cu sulphide concentrations. Historical exploration undertaken by companies such as Granges and Hudson Bay included a series of airborne magnetic and electromagnetic surveys. Interest became focused on the northwest arm of the lake where drilling intersected sulphidebearing serpentinized peridotite assaying 1.24 % Ni over a core length of slightly less than 1 metre (the “Law zone”).

Geological prospecting in 2007 showed that the majority of the potentially economically interesting mafic ultramafic rocks are covered by Iskwasum Lake and thus evaluation of the mineral potential of this property had to largely rely on an evaluation of geophysical and drilling data. Previous geophysical surveys may have penetrated to no more than 200 to 300 m depth and drilling depth never exceeded 100 m depth. Wildcat believes that the Ni Cu potential of the Iskwasum property is largely unexplored at depths exceeding approximately 100 m.

Activities in 2009
In 2009 the Company contracted Crone Geophysics and Exploration to conduct a TDEM (Time Domain Pulse EM) survey over the Law mineralized zone. This system was chosen for its ability to detect deepseated massive sulphide accumulations. The survey data was evaluated by an independent contractor who concluded that there was no evidence of massive sulphide accumulations within the surveyed area. Costs of the survey were largely covered by the refund of payments made in past years to regulatory authorities in lieu of work on the property.

The Company did not renew its claims and as a result wrote off its investment on this property.