Mike Power Property

Property Description
The eastern boundary of the Mike Power property, which comprises 26 contiguous claims covering 3,398 hectares, is located approximately 5 km northwest of the Rice Lake Gold Mine in the town of Bissett. The property straddles the Gold Creek shear zone and consists of mafic to intermediate tuffs and minor amounts of fine grained sediments. A mobile metal ions (“MMI”) geochemical survey in 2005-06 indicated the existence of two extensive gold anomalies straddling Gold Creek; outcrops and drill core display intensive shearing and alteration in the underlying rocks.

Activities in 2008

Exploration on the Mike Power claims was largely guided by the results of geochemical and geophysical surveys. An IP survey was conducted from October 2007 to January 2008 over the Mike Power grid, aiming to pinpoint the origin of Au and Ag anomalies recognized in an MMI geochemical survey conducted in 2005 and 2006. Abundant chargeability anomalies defined by the IP survey were interpreted as sulphide enriched rocks. They did not correlate with the location of the MMI anomalies, possibly indicating that the MMI anomalies are due to ice- or river- transported rock debris or that they originate from a deep source exceeding the penetrative capability of the IP array used in this survey. Six diamond drill holes (MP-08-01 to MP-08-06) were completed totaling 3,326 m to test the geophysical anomalies outlined by IP survey. The drill holes intersected several rock intervals characterized by alteration typically seen in the vicinity of hydrothermal gold mineralization including quartz-K-feldspar-sericite, quartz-carbonate and tourmaline impregnations and also many sulphide-bearing quartz veins, however, none of the drill holes yielded economically significant gold concentrations.

Activities Contemplated for the Future
Wildcat plans to re-evaluate the economic potential of the Mike Power claims with special consideration of historical and recent drilling results, the MMI survey conducted in 2005-2006 and the IP survey conducted in 2007-2008. As a first step Wildcat is considering commissioning a mathematical reevaluation (inversion study) of all IP data on the property to verify the targeting criteria of the Company’s previous drilling. This work will also integrate other parameters such as field observations, physical parameters of drill core and topography.