THUNDER BAY, ON, Oct. 29, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) (the "Company" or
"Wolfden") is pleased to announce an update on drill
results from its ongoing infill and expansion drill program on its
wholly-owned Pickett Mountain Project in Maine, USA, where two diamond drills are now
active.
Drill hole PM-18-027 intersected 12.7 metres of massive sulphide
mineralization at a vertical depth of 240 metres below surface,
including mineralized intercepts with grades and widths that are
tabulated below.
Hole
No.
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn+Pb+Cu
(%)
|
Zn
(%)
|
Pb
(%)
|
Cu
(%)
|
Ag
(g/t)
|
Au
(g/t)
|
PM-18-027
|
266.2
|
278.9
|
12.7
|
10.9
|
6.6
|
2.8
|
1.5
|
99.4
|
0.6
|
|
Inc. 266.2
|
273.0
|
6.8
|
13.5
|
8.1
|
3.3
|
2.1
|
138.9
|
0.7
|
The tenor and grade of hole 027 correlates well with other
proximal drill intercepts in the West Lens (W1) including hole 25
that yielded 10.7 metres of 9.5% Zn+Pb+Cu and hole 82 that resulted
in 4.9 metres of 12.8% Zn+Pb+Cu.
In addition, two recently completed step-out holes PM-18-028 and
029 both intersected significant core lengths of massive sulphide
mineralization containing appreciable zinc, lead and copper
sulphides. Hole 028 cut 4.2 metres of massive sulphide at a
vertical depth of 350 metres that correlates well with other holes
in the E1 Lens. In the West Lens, hole 029 intersected 10.3
metres of massive sulphide mineralization in a deep step-out hole
located 50 metres west of hole 022 that yielded 4.7 metres of 34.7%
combined Zn+Pb+Cu at a depth of 550 metres. Assay results for these
holes are pending and will be reported when they become
available.
The Company is continuing to model the historical and recent
drill results in order to generate an updated mineral resource
estimate before the end of the year and one that can be further
expanded as drilling continues. Drill results obtained from both
the West and East Lenses of the Pickett Mountain deposit can be
viewed on an updated vertical longitudinal drill section in the
Pickett Mtn. presentation on the Company website.
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).
The information in this news release has been prepared and
approved by Don Hoy, P. Geo., SVP
Exploration and Ron Little P.Eng.,
President and CEO for the Company who are both Qualified Persons
under National Instrument 43-101.
About Wolfden
Wolfden is a Canadian exploration and development company
focused on advancing its wholly owned high-grade (Zn-Pb-Cu-Ag-Au)
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.
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 TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Wolfden Resources Corporation