THUNDER BAY, ON,
Nov. 5, 2018 /CNW/ - Wolfden Resources Corporation
(WLF.V) is pleased to announce that it has commenced a 2,500
metre diamond drill program on its 100%-owned Orvan Brook property
in the heart of the Bathurst Mine Camp of New Brunswick. The property is close to
excellent infrastructure including the producing Caribou Mine,
operated by Trevali Mining Corporation.
The Orvan Brook project comprises several parallel lenses of
disseminated to banded massive sulphide mineralization that can be
traced over a three kilometre strike-length and to a depth of 500
metres. It remains open at depth and the lenses can vary in
thickness up 12.7 metres. The deposit is hosted within the same
rhyolitic sequence of the Spruce
Lake formation that also hosts the Caribou Mine. An
historical resource estimate for Orvan Brook, as reported in the
Canadian Institute of Mining & Metallurgy - Exploration &
Mining Geology, Vol. 15, Nos. 3-4, 2006, is 2,690,000 tonnes
grading 5.9% Zn, 1.7% Pb, 0.4% Cu, 72 g/t Ag and 1.0 g/t Au. The
historical resource was not prepared in accordance with NI 43-101
and was not classified by a qualified person and therefore, Wolfden
does not treat it as a current mineral resource.
Since acquiring the property, Wolfden has completed 21 drill
holes testing the massive sulphide lenses of the deposit. The grade
and tenor of those results are comparable to those at Caribou and
underscore the potential to define an economically significant
massive sulphide mineral resource. The potential down plunge
extension of these lenses is the focus of the drill program (see
longitudinal section) in an effort to build a 43-101 compliant
mineral resource.
The eastern lens features widely spaced intercepts including 4.7
metres of 9.1% Zn, 2.9% Pb, 0.4% Cu, 111.0 g/t Ag and 0.5 g/t Au in
OB-17-21A, as well as 5.5 metres of 8.2% Zn, 2.9% Pb, 0.3% Cu, 82.9
g/t Ag in ORB-95-3. Similarly, the western lens contains 2.9 metres
of 7.4% Zn, 2.6% Pb, 0.6% Cu, 128.4 g/t Ag and 1.1 g/t Au in
OB-17-17.
About Wolfden
Wolfden is a Canadian exploration and development company
focused on advancing high-quality polymetallic projects in
Canada and it's 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 projects.
The information in this news release has been prepared and
approved by Donald Hoy, M.Sc., P.
Geo., Senior Vice President of exploration and Ron Little, President and CEO, who are Qualified
Person's 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
Orvan Brook Project; the timing and completion of an anticipated
mineral resource estimate and technical studies at the Orvan
Brook Project; the results of historical resource estimates,
and what defines an economically significant massive sulphide
mineral resource. 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