PAW Successfully Commissions Secondary Plant at Muiane Tantalum Mine
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/29/12 -- Pacific Wildcat Resources Corp. (TSX VENTURE: PAW) ('PAW' or the 'Company') is pleased to report the completion and successful commissioning of the Tantalum Mineral Dressing Plant (Secondary Plant) at its Muiane operations. PAW is the 100% owner of the Muiane Tantalum Project in Mozambique where the Company has over 350 square kilomtres of tenements on the Alto Ligonha pegmatite belt, host to a number of historic Tantalum mines. The Secondary Plant is used for mineral dressing purposes to upgrade Tantalum concentrate from the Company's Primary Plant to a grade that is saleable. The equipment in the Secondary Plant consists of Jaw and Rolls crushers, feed bins, conveyors, specialist rare earth magnets, twin deck screens, Sweco screens and air tables. This equipment has been supplied by Nagrom Mineral Processors, who have specialist expertise in Tantalum mineral dressing plants. In addition during this quarter the Primary Plant has been fitted with new higher performance pumps that have improved the overall performance of the Primary Plant. The Primary Plant is now operating on a two shift per day production cycle to increase the level of Tantalum concentrate production.
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Closing Comments
PAW's President, Mr. Darren Townsend, commented, 'The successful commissioning of the Secondary plant at Muiane is a pivotal moment in the history of PAW as it allows us to produce a Tantalum product that is expected to be of a saleable grade. Whilst we await confirmatory assays for the concentrate produced we continue to produce final product on site. It is the aim of the Company to commence marketing and selling its Tantalum concentrate early in the second quarter.'
ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC WILDCAT RESOURCES CORP.
Darren Townsend, President
About Pacific Wildcat Resources Corp. - Pacific Wildcat is a Toronto Venture Exchange listed Canadian mineral exploration company having the trading symbol 'PAW'. It has a producing Tantalum mine at Muiane in northern Mozambique where it has the largest land position of over 350 square kilometers on the Alto Ligonha pegmatite belt, the location of numerous historic Tantalum mines.
PAW's flagship project is located in Kenya where a conditional contract is in place whereby the Company has the right to acquire an indirect 70% interest in the Mrima Hill Niobium and Rare Earth Project. This is an ex Anglo American and Pechiney property the subject of extensive historic work. In July 2011 the Company completed an initial NI 43-101 compliant inferred Niobium resource estimate of 105.3 million tonnes at 0.65% Nb2O5 for a total of 1.519 billion pounds contained Nb2O5 to a depth of 30 metres from the surface In addition, substantial rare earths mineralisation has been identified and work has just commenced on a Rare Earth Resource RC drilling program.
For information about Pacific Wildcat Resources Corp. and its development and exploration activities shareholders and other interested parties are invited to visit the Company's website at www.pacificwildcat.com.
Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, work programs and investment plans. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Resource estimates, unless specifically noted, are considered speculative. There can be no assurance that the Company will be able to obtain a mining license or any of the permits that are required in order to commence mining operations at the Mrima Hill Project. The rare earths historical resource estimates is considered speculative and therefore noncompliant with National Instrument 43-101 ('NI 43-101') reporting standards and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or reserves. The Company has not undertaken any independent investigation of the historic rare earths resource estimates. The Company believes that these historical resource estimates provide a conceptual indication of the potential of mineral occurrences within the project and are relevant to ongoing exploration. The Company intends to confirm the historic resource estimates through drilling as soon as possible.
Qualified Person
The individuals who completed the niobium mineral resource estimate have extensive experience in the mining and exploration industry and are members in good standing of appropriate professional institutions are as follows:
-- Dr. William (Bill) Northrop, PhD, Pr. Sci. Nat. (400164/87), FSAIMM,
FGSSA, MGASA
-- Mr. Andre Deiss, BSc (Hons), Pr. Sci. Nat. (400007/97), MSAIMM
Dr. Northrop and Mr. Deiss are competent person's registered with the South African Council of Natural Scientists ('SACNASP') as well as with various mining and geological professional bodies and are qualified persons as defined under NI 43-101. Both Dr. Northrop and Mr. Deiss have reviewed the content of this press release and consent to its disclosure.
Timothy David Major, BSc, MSc - Geology and Mineral Exploration. MAusIMM. Qualified person under NI 43-101, and as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' has reviewed the scientific and technical data and exploration data relating to the Mrima Hill Project contained in this news release and consents to its release.
Contacts:
Pacific Wildcat Resources Corp.
Don Willoughby
Corporate Communications Manager
+1 416 306 5777
info@pacificwildcat.com
www.pacificwildcat.com
Brisco Capital Partners Corp.
Scott Koyich/Graeme Dick
Investor Relations
+1 403 262 9888
+1 403 263 1339 (FAX)
lgermiquet@briscocapital.com
