PAW to Commence RC Drilling for Maiden Rare Earth Resource Estimate at Mrima Hill
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2011) - Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to announce that a Reverse Circulation drill program is planned to commence in January 2012 at the Mrima Hill Niobium and Rare Earth project in Kenya. PAW has the contractual right to purchase an indirect 70% interest in the project. An appropriate rig has been identified and a contract entered into with R and L Exploration Limited.
The objective of the program is to identify a maiden Inferred Rare Earth Resource estimate of between 10 and 20 million tonnes at grades ranging from 3.0 to 5.0% Total Rare Earth Oxides ("TREO") by the end of the second quarter of 2012.
Approximately 5,000 meters of RC drilling is planned to an average vertical depth of 100m.
Please refer to Figure 1 showing the location of planned RC drilling.
Figure 2 outlines the significant Rare Earth drill results returned from drilling carried out by PAW over the last two drill campaigns, namely 975m of RC drilling in late 2010 and 1,810m of diamond drilling in 2011.
Closing Comments
PAW's President Mr. Darren Townsend commented "The establishment of a maiden Rare Earth Resource for PAW will put the Mrima Hill deposit into context for investors. We are very confident of establishing a significant Rare Earth Resource Estimate and I invite interested parties to review slides 32 and 33 of our recent Company Presentation, as available on the company website, which puts the potential significance of the Mrima Hill asset into context. We look forward to concluding the Acquisition of the indirect 70% interest in the Mrima Hill Project."
ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.
Darren Townsend, President & CEO