Highlights include 8.7
m at 18.4% Zn, 8.0% Pb, 1.9% Cu, 207 g/t Ag and 1.58 g/t
Au
THUNDER BAY, ON, Feb. 21, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) is pleased to report the results of the
first three drill holes on its recently acquired and wholly-owned
Pickett Mountain base-metal project, in Northern Maine, U.S.A. Pickett Mountain
is one of the highest-grade undeveloped VMS projects in North
America.
The initial holes of the 10,000 metre drill program are designed
to infill and confirm historical results of the 1980's that
included approximately 90 drill holes. Wolfden intends to complete
a qualified mineral resource estimate by year end using all
data. The program will also focus on expanding at depth and
along strike, the previously defined massive sulphide
mineralization that occurs in two lenses approximately 400 m in length, 4 to 10
m in width and up to 800 m in
depth. In addition, the program will target the potential for
new lenses than may occur further along strike in both directions,
as indicated by the historical soil geochemistry and geophysical
surveys. Wolfden will complete detailed ground and airborne
geophysical surveys to further assist in the drill targeting
process.
"We are very pleased with these initial results as the thickness
and high grade tenor of the mineralization is comparable to those
of the neighbouring historical drill results," stated Don Hoy, CEO and for Wolfden. The drill
program will continue and results will be released in batches as
they become available.
The first two holes were drilled the western lens and the third
in the eastern lens. Results for these holes are tabulated below
(see longitudinal section for the Pickett Mountain deposit)
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn%
|
Pb%
|
Cu%
|
Ag
(g/t)
|
Au
(g/t)
|
Zn+Pb+Cu%
|
PM-17-001
|
85.50
|
92.20
|
6.70
|
9.07
|
4.43
|
1.72
|
117.42
|
0.96
|
15.22
|
PM-17-002
|
111.00
|
119.70
|
8.70
|
18.39
|
8.03
|
1.88
|
207.06
|
1.58
|
28.30
|
PM-17-003
|
194.00
|
202.60
|
8.60
|
10.35
|
3.79
|
1.06
|
63.90
|
0.79
|
15.20
|
PM-17-003
|
incl.
200.60
|
202.60
|
2.00
|
23.74
|
9.28
|
0.72
|
75.95
|
1.27
|
33.74
|
True
width is estimated at 60-80% of the length.
|
The detailed ground geophysical survey will include large-loop
EM, Induced Polarization (IP), magnetics and gravity surveys will
commence in the coming weeks. The objective is to confirm those
techniques that best identify the known mineralization that can be
used elsewhere along the 20 km of favourable geologic trend.
Based in part on the results of the ground survey, detailed and
regional scale airborne geophysical surveys will be designed and
commenced in the early spring.
Quality Assurance / Quality Control
Wolfden adheres to strict Quality Assurance and Quality Control
protocols including routine insertion of blanks and certified
reference standards in each sample batch of drill core that is sent
to the lab for analyses. Drill core samples are split in half using
a diamond saw with one half saved for reference and the other half
shipped via secure transport to Activation Laboratories sample
preparation facility in Fredericton, New Brunswick. Core samples
are analyzed for zinc, lead and copper utilizing sodium peroxide
fusion, acid dissolution followed by ICP-OES (Code 8). Gold is
analyzed by fire assay (30 g) utilizing AA finish (Code 1A2) and
samples with over 5 g/t are analyzed by fire assay with gravimetric
finish (Code 1A3). Silver is analyzed by fire assay with
gravimetric finish (Code 8-Ag).
About Wolfden
Wolfden is a Canadian exploration and development company
focused on advancing its wholly owned high-grade (Zn, Pb, Cu, Ag)
VMS Pickett Mountain Project in Maine, USA. Located close to excellent
infrastructure, the company plans to complete sufficient
exploration, definition drilling and various technical studies in
order to demonstrate the economic potential for an underground
mining scenario on the Project.
The information in this news release has been prepared and
approved by Donald Hoy, M.Sc., P.
Geo., President and CEO, who is a Qualified Person under National
Instrument 43-101.
Cautionary Statement regarding Forward-Looking
Information
This news release contains certain information that may
constitute forward-looking information or forward-looking
statements under applicable Canadian and United States securities legislation
(collectively, "forward-looking information"), including but not
limited to information about future drilling activities at the
Pickett Mountain Project; the timing and completion of an
anticipated mineral resource estimate and technical studies at
the Pickett Mountain Project; and the scope of and
the anticipated effect of new mining legislation in Maine. This forward-looking information
entails various risks and uncertainties that are based on current
expectations and actual results may differ materially from those
contained in such information. These uncertainties and risks
include, but are not limited to, the strength of the global
economy; the price of base metals and minerals generally;
operational, funding and liquidity risks; the degree to which
mineral resource estimates are reflective of actual mineral
resources; the degree to which factors which would make an
underground mineral deposit commercially viable are present; the
risks and hazards associated with mineral exploration and mining
operations; and the ability of Wolfden to fund its substantial
capital requirements and operations. 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 available at
www.sedar.com. Readers are urged to read these materials. Wolfden
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 law.
Neither the 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