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Reed Lake Property Highlights In November of 2004 Wildcat Exploration Ltd. acquired 100% interest in the PGE Project from Arc Metals Ltd. The PGE ("Platinum Group Elements") project, located approximately 65 km east of Reed Lake, Manitoba, consists of two separate properties: Reed Lake and Iskwasum. These properties comprise a total of 28 claims totaling 5,555 hectares. The project area lies within the highly productive Flin Flon-Snow Lake base metals camp of northern Manitoba. Previous PGE exploration in the Flin Flon-Snow Lake greenstone belt has been limited, however, discovery of the Namew Ni-Cu-Pt-Pd deposit (Hudson Bay Exploration and Development) and additional encouraging PGE exploration results in the area, by Fort Knox, bodes well for future success. Immediately upon acquisition, Wildcat completed a magnetic and electromagnetic airborne survey over the Iskwasum property, and conducted a preliminary geological mapping and sampling program over the Reed Lake property. In 2007, additional mapping and sampling was conducted on both properties. A recommended ground geophysical survey is currently in the planning stages on the Reed property. Reed Lake Property The Reed Lake Property is underlain by the Reed Lake mafic-ultramafic layered complex. In 1985, a regional evaluation of many of the mafic/ultramafic intrusions in the Reed Lake-Snow Lake area was carried out by government agencies. Limited lithogeochemical sampling and mapping was conducted on the Reed Lake mafic-ultramafic complex by Manitoba Energy & Mines in the mid-1990s'. The Reed Lake mafic-ultramafic complex, a 4 x 10 km, compositionally zoned, mafic-ultramafic complex, was shown to have potential to host base and/or precious metals, particularly platinum group elements. Exploration on the property is designed to locate magmatic (i.e. Bushveld Complex, South Africa; Stillwater Complex, USA) or hydrothermal (Lac des Iles Palladium Mine in Ontario, Canada) deposits. In 1986, Platinum Exploration Canada Inc. undertook a program of reconnaissance mapping and limited geochemical sampling. Anomalous platinum and palladium values were obtained (247 ppb Pd, 134 ppb Pt.). In 1987 an airborne EM and magnetic survey was flown. Follow-up work was recommended after both exploration programs but no work was carried out. Wildcats preliminary mapping substantiated the finding of Platinum Exploration and found geochemically anomalous Pd-Pt mineralization along the transition zone of the complex which is comprised of ultramafic rocks. Iskwasum Lake Property The property is underlain by juvenile ocean floor mafic volcanics intruded by a sequence of ultramafic-mafic rocks ("ILMC¯"). Geology of the ILMC is poorly understood. Shoreline exposure of the complex in the Iskwasum Lake area include variably tectonized gabbro and serpentinite (Syme, 1992). The main ultramafic-mafic intrusion centered on Iskwasum Lake appears to have two (?) distinct ultramafic subunits. Drill logs indicate a higher proportion of ultramafic rocks in this sequence than indicated on government geological maps. Within the ILMC, Ayres and Young (1989) noted disseminated pyrite, pyrrhotite, rare chalcopyrite and minor disseminated Fe-Ti oxides and chromite best developed in the ultramafic zones. The most significant mineralization hosted within the ILMC occurs in the Law Zone discovered in 1964 by Hudson Bay Exploration & Development (HBED). The Law zone is located in the northwestern corner of Iskwasum Lake within ultramafic rocks near the contact with gabbroic rock of the ILMC. The mineralization consists of sporadic nickel values in an altered ultramafic rock, the "Law zone serpentinite"¯. In the Barb Lake area, Ayres and Young mapped largely metagabbro with some serpentinized peridotite rocks. They also observed cyclicity of ultramafic layers in the "critical"¯ lower part of the ILMC, which makes this area an attractive exploration target.  |
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