THUNDER BAY, ON,
June 15, 2017
/CNW/ - Wolfden Resources Corporation (WLF:TSX-V)
("Wolfden" or the "Company") is pleased to
announce that it has commenced diamond drilling on its 100%-owned
Orvan Brook property (the "Property"). The Property is well
located proximal to infrastructure, approximately 35 kilometres
west of the City of Bathurst and
15 kilometres east-northeast of Trevali Mining Corporation's
Caribou mine and mill facility, in the prolific Bathurst Mining
Camp of northeastern New
Brunswick.
THE ORVAN BROOK PROPERTY:
The property is host to the Orvan Brook Zn-Pb-Cu-Ag-Au
massive sulphide deposit that was discovered in 1939 and has
seen only moderate previous drilling that identified high-grade
mineralization over a strike length of more than two (2)
kilometres. Wolfden's compilation of the historical data
reveal a number of high-grade intersections occurring within 200
metres of surface, including 0.31% Cu, 2.44% Pb, 8.63% Zn
& 71.0 g/t Ag over 4.88 metres (T-24), 0.31% Cu, 2.44% Pb,
8.63% Zn, 81.00 g/t Ag over 4.88 metres (T-27) and 0.32% Cu,
1.56% Pb, 5.39% Zn, 50.84 g/t Ag over 6.00 metres
(B-4). There are significant gaps of 300 to 400 metres
between these drill holes, where potential exists along strike and
down-dip from such holes to establish significant
mineralization. A similar target area occurs 400 metres below
surface where there is significant room to expand on massive
sulphide intercepts including 0.44% Cu, 2.31% Pb, 7.37% Zn &
89.20 g/t Ag over 5.62 metres as well as 0.28% Cu, 2.85% Pb, 8.16%
Zn, & 82.90 g/t Ag over 5.47 metres.
The priority areas will be targeted in an initial drill
program comprising approximately 6,000 metres aimed at helping
establish a mineral resource estimate. Results will be
released as they become available.
The Orvan Brook deposit is hosted in sedimentary rocks
overlying felsic volcanic rocks of the Spruce Lake Formation, a
stratigraphic position known to host some of the larger base-metal
deposits in the Bathurst Mining Camp, including Trevali's Caribou
deposit (Measured and Indicated Resource: 7.23 MT @ 0.43% Cu, 2.93%
Pb, 6.99% Zn, 84.4 g/t Ag & 0.89 g/t Au, Inferred Resource:
2.69 MT @ 0.37% Cu, 2.81% Pb, 6.95% Zn, 87.3 g/t Ag & 1.23 g/t
Au)1.
Note 1: Resource figures obtained from
Trevali Mining Corporation website
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company holding nickel
properties in Manitoba and
Zn-Pb-Cu base-metal properties in New
Brunswick (>24,000 hectares). Manitoba is ranked #2 in Canada and #2 in the world as the most
favorable jurisdiction to conduct mining and exploration (Fraser
Institute (2016-2017)).
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 the timing for the
completion of a mineral resource estimate on the Orvan Brook
property, 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 TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Wolfden Resources Corporation