Pacific Wildcat News Release on 6/5/96
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: PACIFIC WILDCAT RESOURCES CORP.
VSE SYMBOL: PAW
JUNE 4, 1996
Pacific Wildcat - Drilling at Sulut Continues
to Evaluate Precious Mineralized Zones
VANCOUVER, BRITISH COLUMBIA--Mr. Ross Fitzpatrick, Chairman of
Pacific Wildcat Resources Corp. ("Pacific Wildcat"), announces that
during the third quarter ended March 31, 1996, 1,304 metres were
diamond drilled at the Doup and Benteng prospects on the Sulut
project, located in Sulawesi, Indonesia. To date, 44 holes over
2,864 metres indicate that mineralization is a gold-rich porphyry
copper with a superimposed carbonate - base metal - gold vein system.
Recent selected drill results are listed below:
/T/
Selected Drill Results - Sulut
Hole Depth Interval Grade
Number (m)1 (m)1 (g/t Au)1
BD-73 53-67 14 3.17
BD-74 42-66 24 4.16
BD-75 48-60 12 4.43
BD-77 39-45 6 4.60
BD-81 17-29 12 1.63
55-57 2 31.00
73-75 2 4.39
BD-82 44-72 28 2.63
1 Conversions: 1 gram per tonne (g/t) = 0.0292 ounces per ton;
1 metre (m) = 3.281 feet
/T/
Other work continues to advance the evaluation of the Sulut project.
Deep soil sampling, west and southwest of the Doup prospect at West
Benteng and Parabo, has generated new targets, providing incentive to
advance the program beyond the initial phase of 448 geochemical
samples. Regional mapping also continues from Doup north/northeast
to the boundary of Newmont Mining's Minahasa property.
A larger diamond drill rig, deployed in late April, joins the
smaller, shallow-hole unit currently on the Sulut property. The new
rig will enable the Company to penetrate the boulder conglomerate
cover, derive a larger core and drill deeper to approximately 250
metres from the current range of 80 metres.
Using the two rigs, drilling will continue through the fourth quarter
to advance a detailed assessment of the initial prospects at Doup and
Benteng, as well as evaluate additional prospects recently
identified. Aerial magnetics have been acquired and the data is
currently being interpreted.
Metallurgical test work completed on representative core samples
indicates variable gold recoveries from 65 percent to 92 percent
applying standard cyanide leaching techniques. The bulk of the
mineralization so far defined is refractory.
JAMBI PERMIT APPROVED
Pacific Wildcat's application for an enlarged exploration permit for
the Jambi property, Sumatra, has been officially approved and the
Contract of Work initialled for review by the Indonesian Parliament.
Field work is estimated to cost approximately U.S.$500,000 for the
first six months. It will include regional and detailed geological
mapping, selective geochemistry and, if warranted, shallow diamond
drilling.
With the exercise in April of 3.7 million warrants, the Company's
cash position increased to $5.7 million. For the nine months,
investing activities required $1.3 million, partially offset by share
capital issued upon exercise of warrants and employee stock options.
ON BEHALF OF THE BOARD OF DIRECTORS
Brian Flower
Treasurer and Director
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