THUNDER BAY, ON,
May 3, 2017 /CNW/
- Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or
the "Company) today provides a summary of results from the
winter drilling program completed on the Company's 100%-owned Rice
Island property (the "Property"). The 26 square-kilometre Property
is located 10 kilometres south-southeast of the Town of Snow Lake, in west-central
Manitoba.
RICE ISLAND DRILL RESULTS:
The winter drilling program on the Property successfully
extended nickel-copper-cobalt mineralization within a recently
discovered feeder structure, proximal to the historic Rice Island
deposit (see Wolfden news release dated March 6, 2017). Mineralization within
this new zone has been delineated over a strike length of 200
metres and to a depth of 250 metres. Specifically, the winter
drilling (11 holes in total) delineated significant
nickel-copper-cobalt mineralization to the southwest from the known
deposit with highlight assay results tabulated below.
Hole
No.
|
Coordinates
|
Dip
|
Azimuth
(degrees)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Ni
(%)
|
Cu
(%)
|
Co
(%)
|
Pt+Pd+Au
(ppb)
|
RI-17-27
|
440786E,
6074642N
|
-55
|
302
|
80.2
|
82.70
|
2.50
|
3.08
|
1.13
|
0.16
|
201
|
RI-17-28
|
440786E,
6074642N
|
-73
|
302
|
107.6
|
109.70
|
2.10
|
1.12
|
1.14
|
0.05
|
165
|
RI-17-29
|
440768E,
6074603N
|
-55
|
302
|
83
|
85.20
|
2.20
|
1.67
|
0.63
|
0.16
|
753
|
RI-17-30
|
440768E,
6074603N
|
-76
|
302
|
169.7
|
178.00
|
8.30
|
2.24
|
1.42
|
0.10
|
181
|
|
|
|
|
Inc.
169.70
|
172.30
|
2.60
|
3.57
|
1.67
|
0.19
|
393
|
RI-17-31
|
440956E,
6074638N
|
-55
|
302
|
246.2
|
247.00
|
0.80
|
0.57
|
0.34
|
0.04
|
128
|
RI-17-32
|
440778E,
6074570N
|
-68
|
302
|
165.7
|
167.90
|
2.20
|
1.58
|
0.82
|
0.07
|
122
|
|
|
|
|
Inc.
165.70
|
167.30
|
1.60
|
2.14
|
0.93
|
0.09
|
110
|
RI-17-33
|
440778E,
6074570N
|
-55
|
302
|
131.4
|
134.70
|
3.30
|
0.69
|
0.71
|
0.04
|
183
|
|
|
|
|
Inc.
132.20
|
133.80
|
1.60
|
1.14
|
0.69
|
0.05
|
134
|
RI-17-34
|
440778E,
6074570N
|
-76
|
302
|
230.8
|
233.50
|
2.70
|
1.15
|
0.95
|
0.20
|
151
|
|
|
|
|
Inc.
230.80
|
232.40
|
1.60
|
1.73
|
0.68
|
0.32
|
175
|
RI-17-35
|
440908E,
6074591N
|
-65
|
302
|
312.3
|
314.20
|
1.90
|
0.32
|
0.81
|
0.05
|
476
|
RI-17-36
|
440781E,
6074516N
|
-65
|
302
|
239.7
|
240.30
|
0.60
|
1.13
|
1.06
|
0.07
|
688
|
RI-17-37
|
440781E,
6074516N
|
-55
|
302
|
183.1
|
183.60
|
0.50
|
1.32
|
0.94
|
0.04
|
148
|
Note 1: True widths are estimated at 70%
of core width
|
|
Note 2: Sample analyses performed by Actlabs
Ltd. of Thunder Bay, Ontario utilizing the 4 Acid ICP-OES method; a
0.25 g sample is digested with hydrofluoric acid followed by a
mixture of nitric and perchloric acid; the sample is then dried and
brought back into solution using aqua regia; the sample is then
analyzed using Agilent 735 ICP instrumentation
|
This new zone of mineralization known as the Boundary Zone
(BZ), is interpreted to be a feeder dike or conduit, comprising
fine-grained gabbro containing stringer, semi-massive and massive
sulphides (pyrrhotite, chalcopyrite & pentlandite), enveloped
by sedimentary rocks. Conduits are an important component within
magmatic Ni-Cu-Co mineralizing systems and on their own, can be
hosts to economic deposits. The BZ remains completely open along
strike to the southwest and to depth; additional drilling is
clearly warranted.
Rice Island is well situated proximal to the established
mining communities of Flin Flon
and Snow Lake and approximately 5
kilometres from HudBay Minerals' Snow
Lake concentrator. The area offers access to power,
labour force, supplies and mineral processing facilities.
Proximity to such infrastructure will enable the Company to explore
the Property year-round.
ORVAN BROOK PROPERTY, NEW
BRUNSWICK:
In other developments, the Company is planning an
upcoming drill program on its wholly-owned Orvan Brook
Zn-Pb-Cu-Ag-Au property, located in the Bathurst Mining Camp of
northeastern New Brunswick. The
Orvan Brook property is located approximately 15 kilometres
northeast of Trevali's Caribou mine and mill facility and has the
potential to host significant high-grade VMS mineralization.
Previous drilling in the Orvan Brook area intersected
mineralization over a strike length of 2.3 kilometres and to depths
of up to 500 metres and remains open along strike and to
depth.
The most recent drilling at Orvan Brook in 1985 (completed
by Noranda Mining and Exploration Inc.), yielded intercepts
including 7.37% Zn, 2.31% Pb, 0.44% Cu & 89.20 g/t Ag over
5.62 metres as well as 8.16% Zn, 2.85% Pb, 0.28% Cu &
82.9 g/t Ag over 5.47 metres. In the locale of these
intercepts, there are 300 to 400 metres gaps between drill centres,
where clear potential exists to enlarge and further define
higher-grade and thicker portions of the deposit, down-plunge and
along strike from such intersections.
It is anticipated that drilling will commence at Orvan
Brook in May.
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company with projects
that include the Rice Island and Nickel Island properties in
Manitoba. Manitoba is ranked #2 in Canada and #2 in the world as the most
favourable jurisdiction to conduct mining and exploration (Fraser
Institute Survey 2016).The Company also holds a dominant, 24,000
hectare land position in the heart of the Bathurst Mining Camp in
New Brunswick.
The technical information in this news release has been
prepared and approved by Donald Hoy,
P. Geo., President, CEO and a director of the Company. My Hoy is also a Qualified Person under National
Instrument 43-101.
This press release contains forward-looking information
(within the meaning of applicable Canadian securities legislation)
that involves various risks and uncertainties regarding future
events. Such forward-looking information includes statements based
on current expectations involving a number of risks and
uncertainties and such forward-looking statements are not
guarantees of future performance of the Company, and include,
without limitation, statements relating to plans and results of
exploration and the magnitude and quality of the property.
There are numerous risks and uncertainties that could cause
actual results and the Company's plans and objectives to
differ materially from those expressed in the forward-looking
information in this news release, including without limitation, the
following risks and uncertainties; (i) risks inherent in the mining
industry; (ii) regulatory and environmental risks; (iii) results of
exploration activities and development of mineral properties; (iv)
risks relating to the estimation of mineral resources; (v) stock
market volatility and capital market fluctuations; and (vi) general
market and industry conditions. Actual results and future events
could differ materially from those anticipated in such information.
This forward-looking information is based on estimates and opinions
of management on the date hereof and is expressly qualified by this
notice. Risks and uncertainties about the Company's business are
more fully discussed in the Company's disclosure materials filed
with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes
no obligation to update any forward looking information or to
update the reasons why actual results could differ from such
information unless required by applicable law.
Neither the TSX Venture Exchange nor its regulation
services provider (as that term is defined in the policies of the
TSX Venture Exchange) has reviewed or accepts responsibility for
the accuracy and adequacy of this news release.
SOURCE Wolfden Resources Corporation