The Pat project is located 25 kilometres east of the Cariboo community of Horsefly. The property encompasses an area of 1,700 hectares and is located approximately 50 kilometres southeast of the Imperial Metals Corporation’s Mount Polley Mine. MaxTech Ventures Inc. may earn a 60% interest in the Pat project by completing $870,000 in exploration and making payments totalling $85,000 before November, 2009. A drill program is planned for early in the year.
The Pat property was staked in 2004 to cover a prominent aeromagnetic anomaly that is similar in size (about three kilometres by three kilometres), shape and intensity to one which corresponds to the Mount Polley Mine. Mount Polley was originally discovered in 1964 as a follow up to the release of the survey which depicts both anomalies. Unlike Mount Polley, which occupies a high point of land, the Pat anomaly is located in the low elevation Horsefly valley without bedrock exposure. In 1990, Cominco Exploration Ltd. completed an induced polarization survey over the Pat aeromagnetic anomaly and outlined an extensive and well-expressed induced polarization anomaly to the east and north of the magnetic anomaly. The induced polarization anomaly covers an area of one by two kilometres and is open to the north and south. In 1991, nine percussion drill holes were completed within the induced polarization anomaly without significant results, but no drilling was completed in the proximal magnetic anomaly. MaxTech’s consultants have concluded that a similar induced polarization anomaly exists to the east of the Mount Polley Mine, without associated significant copper-gold mineralization which, if drilled, would probably yield comparable results to the 1991 Cominco drilling east of the Pat magnetic anomaly. It is MaxTech’s intention to model the Pat aeromagnetic anomaly on the Mount Polley aeromagnetic anomaly and to complete a drill program in comparable features within the Pat anomaly.
Both the Pat claims and the Mount Polley Mine occur within the Quesnel Terrane, which also hosts the Afton and Similkameen copper-gold mines to the south and the Kemess gold-copper mine to the north. Other active projects in the area include the Woodjam gold-copper project, located 15 kilometres to the southwest (Wildrose Resources Ltd. and Fjordland Exploration Inc.) and the Spanish Mountain gold project, located 40 kilometres to the northwest (Skygold Ventures Ltd. and Wildrose Resources Ltd.).
On Behalf of the Board,
WILDROSE RESOURCES LTD.
Bill Morton
J.W. (Bill) Morton,
Contact: B&D Capital Partners President (604) 685-6465
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.
TSX:CRB