Hardshell containsan indicated mineral resourceestimate of 42.7 million ounces of silver and 1.3 billion pounds ofmanganese, plus an inferred resource totalling 37.7million ounces ofsilver and 2.5 billion pounds of manganese.
A 2007preliminary assessment envisioned a 1,800 tonne per day open pit miningoperation with an initial mine life of 13½ years. Annual productionwould total 4 million ounces of silver and 54,000 tonnes of manganese,and would establish Wildcat as a world-class silver producer and theonly domestic manganese producer in the US. Production would alsoinclude 550 tonnes of copper and 9,000 tonnes of zinc per year.
Using a conservative silver price assumption of $8.50 per ounce, the2007 study estimated a 5% NPV totalling $295 million.
Highlightsfrom Wildcats drill program:41.1 m 270.2 g/t ag6.25% mnIncludes 6.1 m 1450.7g/t ag17.26% mn70.1 m 344.9 g/t ag6.29%mnIncludes19.8 m 808.2g/t ag 15.50% mn
36.6 m 345.5 g/t ag 10.19%mn19.8m 983.9g/t ag6.85% mn
29.0m 358.6 g/t ag 18.57% mn
49.99m239 g/t ag 11.62% mn
71.90m 193 g/t ag 5.07% mn
22.86m369 g/t 9.45% mn
Winston’s Growth Stock Report believes that 2009drill program will potentially doubled the reserves.
Tobuild the mine, Wildcat recently hired Paul Ireland from Rio Tinto.
JohnBrodie from Silver Standard as director.
Chairman, Richard Warkefrom Ventana Gold
Management holds ~30%
Silver Wheaton boughtAugusta Resources (Same management as WS) silver production (70 moz ag)for $250 million, and that mine is a neighbour to the Hardshelldeposit.
Wildcat Mcap ~C$30 million