Wolfden Adds to High-Grade Mineralization in Deep Drilling at Pickett Mtn. Second hole with multiple zones includes 2.5 m at 20.3% Zn, 3.8% Pb, 1.4% Cu, 77.7 g/t Ag & 1.0 g/t Au
Wolfden Adds to High-Grade Mineralization in
Deep Drilling at Pickett Mtn.
Second hole with multiple zones includes
2.5 m
at 20.3% Zn, 3.8% Pb, 1.4% Cu, 77.7 g/t Ag & 1.0
g/t Au
THUNDER BAY, ON
,
Aug. 1, 2018
/CNW/ -
Wolfden Resources Corporation (WLF.V)
(the
"
Company
" or "
Wolfden
") is pleased to announce that a second deep hole in the Company's
ongoing infill and expansion drill program on its wholly-owned Pickett Mountain Project in
Maine USA
has intersected multiple zones of high-grade base metal mineralization, at a depth of 580 metres in
the West lens of the deposit.
Drill hole PM-18-023 intersected three massive sulphide lenses at down the hole depths and lengths
in metres as highlighted below:
Hole No.
From
(m)
To
(m)
Length
(m)
Zn+Pb+Cu
(%)
Zn
(%)
Pb
(%)
Cu
(%)
Ag
(g/t)
Au
(g/t)
023
638.2
643.5
5.3
5.4
3.2
1.2
1.0
36.5
0.5
661.2
667.1
5.9
12.0
7.5
3.2
1.3
64,8
0.7
722.0
724.5
2.5
25.5
20.3
3.8
1.4
77.7
1.0
These results in combination with recently released results obtained in hole PM-18-22, (located
approximately
75 m
to the west of hole 23, that intersected 24.0% Zn, 10.0% Pb, 0.9% Cu, 267 g/t
Ag & 1.6 g/t Au over 4.7 metres, see Wolfden news release dated
July 9, 2018
), comprise the
deepest drilling completed by the Company to date and clearly demonstrate the potential to expand
resources below a depth of 400 metres, where there was minimal historical drilling. These results
can be viewed on an updated vertical longitudinal drill section in the Pickett Mtn. presentation
on the Company website
. In addition, hole 23 was deepened an additional
78 m
to a length of
800 m
so that it could be probed in the coming weeks with down-the-hole geophysics to investigate the
potential for other massive sulphide mineralization within
200 m
of the hole.
While waiting for these results, the drill rig was moved to test several high priority exploration targets
in close proximity to the two main lenses. These targets have been identified by detailed ground and
airborne geophysical surveys as well as historical soil sampling surveys. Most importantly, the
geophysical surveys indicate the potential for expansion of the system in several directions. A
second drill rig will be mobilized to advance the exploration and expansion drilling concurrently.
The Company is in the process of modelling 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.
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 it's 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
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/August2018/01/c4694.html
%SEDAR: 00033002E
For further information:
please contact Ron Little, President and CEO at (613) 862-3699, or Don
Hoy SVP Exploration at (807) 624-1131.
CO: Wolfden Resources Corporation
CNW 06:30e 01-AUG-18