Wolverine Exploration Announces Results of 2011 Exploration at Cache River
January 09 2012 - 1:34PM
Marketwired
Wolverine Exploration Inc. ("Wolverine") (OTCQB: WOLV) (PINKSHEETS:
WOLV) is pleased to provide an update on exploration activities on
its mineral property in central Labrador. As reported in our last
release, four of the eleven anomalous areas detected from the IP
survey had been completed when winter weather conditions forced the
shutdown of operations.
The logic behind the sequence of drilling targets on grid 1 was
to complete the holes located remote from immediate highway access
as the season was far advanced when the program began. Wolverine
had intended to complete the entire list of targets on both grids
and this mode of operations was adopted. The drill camp was near
grid 1 and to move on grid 2 would entail the moving of camp 20 km
which would consume several days and it was felt that the delay
would be unwarranted. As a result, the five locations on grid 2
where the malachite surface showings assayed up to 6.3% Cu could
not be accessed due to inclement weather conditions.
Drill Hole CR1-08-11, where 37 meters of core had been cut and
sent for assay, revealed low base metal values with traces of gold.
Although the results were not as high as anticipated, Wolverine
intends to complete the remainder of the program in 2012 and will
begin drilling on the five locations situated on grid 2.
Two samples from drill hole CR1-07-11 that were sent to ActLabs
for analysis of rare earth elements (REEs) returned values that
were not considered significant enough for further action at this
time.
On behalf of the Board
Lee Costerd President
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, statements regarding the results of
the drilling program.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
For further information please contact: Ronald Jones (778)
297-4409 investor@wolverineexplorationinc.com
http://www.wolverineexplorationinc.com/ Or The Foothills Group San
Jose, CA 1-888-516-7415 (toll free) info@foothillsgroup.com
http://www.foothillsgroup.com/
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