Wildcat intersects high grade zinc, lead and silver at Hermosa NW

VANCOUVER, May 6, 2015 /CNW/ - Wildcat Silver Corporation (TSX: WS) ("Wildcat" or the "Company") is pleased to announce the results to date from its current drill program on the Company's 80% owned Hermosa property located in Santa Cruz County, Arizona.

Project Update
Wildcat has completed five (5) surface Diamond drill holes totalling 19,086 feet targeting the expansion of its zinc-lead-silver sulfide mineral resource, now known as the Hermosa Northwest Project (Hermosa NW), which is part of the Hermosa property.  Hermosa NW is the down-dip sulfide extension of the Company's silver-manganese Hermosa Manto Oxide Project (now known as Hermosa Central).

Wildcat has intersected significant zinc-lead-silver sulfide mineralization at Hermosa NW, with the best intercepts from the recent drilling as follows (all intervals reported are down-the-hole drill intervals and not represented as true thickness of the mineralized zones):

In this most recent drilling Wildcat has intersected multiple intervals of significant zinc-lead-silver sulfide mineralization at Hermosa NW.  The mineralized intervals selected for the above summary are only those for which the foot/percent zinc/lead/silver calculation exceeds 400 (i.e. drill interval times zinc%+lead%+silver opt is greater than 400).  These results confirm that Hermosa NW is a large carbonate replacement sulfide zone containing high grades of zinc, lead and silver over significant widths.  This current round of drilling represents a significant step out to the previous drill locations and the results indicate the deposit remains open to southwest, west and north.  Please see Appendix 1 for a full listing of the mineralized intervals from this drilling and the Company's website www.wildcatsilver.com for a complete list of all drill intercepts.

"These results are the best encountered to date on the Hermosa property and surely indicate we have an exciting year of drilling in front of us" commented Richard Warke, Wildcat's Chairman and CEO.  "For the balance of 2015 we plan to continue to drill, complete metallurgical testing and at the appropriate time, prepare an updated mineral resource."

In contrast to the Hermosa Central Manto Oxide deposit, the Hermosa NW zinc-lead-silver mineralization encountered in the recent drilling represents significant thicknesses of coarse grained, sulfide minerals of sphalerite, galena and chalcopyrite which occur as strata-bound replacements in the Paleozoic carbonate section.  The up dip portion of the mineralization is situated approximately 800 feet below the current ground surface and dips northwest at approximately 20 - 25 degrees.  Of significance, the mineralization located to date for Hermosa NW has been drilled from the patented claims owned by the Company, which do not require additional drill permits for continued drilling. The Company is continuing to drill the Hermosa NW mineralization and updating its plans for the metallurgical work.

Funding

The Company has continued to receive financial support from insiders obtaining loans for an additional $500,000 on the same terms and conditions as for the $1.6 million of loans announced in February, 2015. The net proceeds from these additional loans are being used for general working capital purposes and project advancement.

Qualified Person
The results of Wildcat's drilling results have been reviewed, verified and compiled by Donald Taylor, MSc., PG, President and Chief Operating Officer for Wildcat Silver, a qualified person as defined by National Instrument 43-101 (NI 43-101). Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a Registered Professional Geologist through the SME (registered member #4029597). Mr. Taylor is also a Licensed Professional Geologist in several US states.

Assays and Quality Assurance/Quality Control
To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.

Sample preparation (crushing and pulverizing) is performed at ALS Minerals Laboratories, an ISO/IEC accredited lab located in Tucson, Arizona. ALS Minerals Laboratories prepares a pulp of all samples and sends the pulps to their analytical laboratory in Vancouver, B.C. Canada for analysis. ALS analyzes the pulp sample by ICP following a 4-acid digestion (ME-ICP61 for 33 elements) including Cu (copper), Pb (lead), and Zn (zinc).  All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are rerun using four acid digestion with an ICP – AES finish (Cu-OG62;Pb-OG62; and Zn-OG62) with the elements reported in percentage (%).   Silver values are determined by ICP ((ME-ICP61) with all samples with silver values greater than 100 ppm repeated using four acid digestion with an ICP-AES finish (Ag-OG62) calibrated for higher levels of silver contained.  Any values over 1,500 ppm Ag triggers a fire assay with gravimetric finish analysis.  Gold values are determined by a 30 gm fire assay with an ICP-AES finish (Au-ICP21).

About Wildcat
Wildcat is a Canadian mineral exploration company focused on the development of its 80% owned Hermosa property located in Santa Cruz County, Arizona. The Hermosa property currently has two distinct projects: Hermosa NW, a zinc-lead-silver sulfide mineral exploration project; and Hermosa Central, a silver-manganese manto oxide development project. Hermosa NW has a resource calculated in accordance with NI 43-101 and is currently being drilled to test the limits of that resource. Hermosa Central's December 2013 prefeasibility study indicates it is expected to be one of the largest primary silver producers as well as the only electrolytic manganese metal producer in the USA at industry low cash costs. The pre-feasibility study estimates annual production of 5.7 million ounces of silver and 110 million pounds of electrolytic manganese metal (EMM) at average cash costs of $4.41 per silver ounce and $0.74 per EMM pound over an 18 year mine life. 

Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes forward-looking statements.  All statements, other than statements of historical facts, are forward looking statements including statements with respect to the Company's intentions for its Hermosa property in Arizona, USA including, without limitation, drilling, updating the resource and metallurgical testing on Hermosa NW and expected future mineral production and operating costs on Hermosa Central.  Forward-looking statements are often, but not always, identified by the use of words such as may, will, seek, anticipate, believe, plan, estimate, budget, schedule, forecast, project, expect, intend, or similar expressions.

The forward-looking statements are based on a number of assumptions which, while considered reasonable by Wildcat, are subject to risks and uncertainties.  In addition to the assumptions herein, these assumptions include the assumptions described in Wildcat's management's discussion and analysis for the year ended December 31, 2014 ("MD&A").  Wildcat cautions readers that forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed in or implied by such forward-looking statements and forward-looking statements are not guarantees of future results, performance or achievement. These risks, uncertainties and factors include general business, economic, competitive, political, regulatory and social uncertainties; actual results of exploration activities and economic evaluations; fluctuations in currency exchange rates; changes in project parameters; changes in costs, including labour, infrastructure, operating and production costs; future prices of zinc, lead, silver and other minerals; variations of mineral grade or recovery rates; operating or technical difficulties in connection with exploration, development or mining activities, including the failure of plant, equipment or processes to operate as anticipated; delays in completion of exploration, development or construction activities; changes in government legislation and regulation; the ability to maintain and renew existing licenses and permits or obtain required licenses and permits in a timely manner; the ability to obtain financing on acceptable terms in a timely manner; contests over title to properties; employee relations and shortages of skilled personnel and contractors; the speculative nature of, and the risks involved in, the exploration, development and mining business; and the factors discussed in the section entitled "Risks and Uncertainties" in the MD&A.

Although Wildcat has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended.  Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Wildcat disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law.

Appendix 1: Drill Results

SOURCE Wildcat Silver Corporation