Highlights include 7.9 m at
14.8% Zn, 5.7% Pb, 2.4% Cu, 187.3 g/t Ag & 1.3 g/t Au
THUNDER BAY, ON, April 4, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) is pleased to announce results for the next
five drill holes completed on its 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 ongoing 10,000 metre drill program is intended to infill and
confirm historical results from the 1980's that included
approximately 90 drill holes. The program will soon focus on
expanding the limits of the previously defined massive sulphide
mineralization that consists of two lenses approximately
400 m in length, 4 to 10 m in width and up to 800 m in depth. Wolfden intends to complete a
qualified mineral resource estimate by year end using the
historical data in combination with its own data.
Drill holes PM-18-004, 005 and 006 tested the East Lens while
PM-18-007 and 008 tested the West Lens. Holes PM-18-005 and 006A
both intersected wide zones of massive sulphide comprised primarily
of pyrite and as a result, returned lower values of base-metal
mineralization in the upper most portion of the East Lens. The
other holes returned high-grade base-metal mineralization over
appreciable widths. Results for all of the drill holes are
tabulated below.
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
True
Width(m)
|
Zn%
|
Pb%
|
Cu%
|
Ag
(g/t)
|
Au
(g/t)
|
Zn+Pb+Cu%
|
PM-18-004
|
173.6
|
180.9
|
7.3
|
6.5
|
13.8
|
5.1
|
1.3
|
144.7
|
1.1
|
20.3
|
PM-18-005
|
278.1
|
323.9
|
45.8
|
30.0
|
1.3
|
0.5
|
0.6
|
24.0
|
0.4
|
2.4
|
PM-18-005
|
incl.
278.1
|
282.0
|
3.9
|
2.6
|
2.9
|
1.1
|
0.5
|
31.9
|
0.4
|
4.6
|
PM-18-006A
|
254.5
|
296.9
|
42.4
|
28.0
|
1.7
|
0.6
|
0.6
|
22.8
|
0.4
|
2.9
|
PM-18-006A
|
incl.
290.7
|
294.9
|
4.2
|
2.8
|
3.4
|
1.2
|
1.0
|
40.9
|
0.6
|
5.6
|
PM-18-007
|
279.7
|
311.2
|
31.5
|
20.0
|
4.4
|
1.6
|
1.0
|
60.5
|
0.6
|
7.0
|
PM-18-007
|
incl.
279.7
|
287.6
|
7.9
|
5.1
|
14.8
|
5.7
|
2.4
|
187.3
|
1.3
|
22.9
|
PM-18-008
|
342.3
|
346.0
|
3.7
|
2.8
|
12.8
|
3.6
|
0.3
|
63.9
|
0.5
|
16.7
|
To date, fifteen drill holes have been completed and the program
is expected to continue based on positive results. Laboratory
results from the drilling have been slower than expected as result
of the high level of activity in the area from other
Companies. Wolfden will explore all possibilities to speed up
the return of results.
Expansion Potential
Ground geophysical surveys have commenced over the main
mineralization and potential extensions in order to generate the
next round of drill targets. Surveys include, a recently
completed induced polarization (IP) survey where preliminary
results exhibit a very strong IP signature associated with the main
zone as well as a similar and continuing signature along-strike to
the northeast and southwest extensions. Once these results have
been refined, they will be follow-up with ground trothing and
drilling.
An upcoming large-loop ground electromagnetic (EM) survey (EM)
as well as bore-hole EM surveys will further assist in identifying
potential drill targets, particularly at depth. This survey is
expected to be completed in April.
A regional airborne geophysical survey (VTEM) will follow the
completion of the ground EM survey to explore approximately 20km of
the favourable belt of volcanic rocks with the goal of identifying
"look-a-like" signatures to the Pickett Mtn. main zone. Typically,
massive sulphide districts in the North American Appalachians,
including Bathurst and
Buchans, are characterized by the
presence of several deposits or clusters of lenses and
mineralization. Ground trothing will follow-up any new targets
identified by the regional survey that should be completed by early
May.
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