Wolfden Adds to Multiple Zones in Deep Drilling at Pickett Mtn. A second drill rig has been added to the program
Wolfden Adds to Multiple Zones in Deep
Drilling at Pickett Mtn.
A second drill rig has been added to the program
THUNDER BAY, ON
,
Oct. 10, 2018
/CNW/ -
Wolfden Resources Corporation (WLF.V)
(the
"
Company
" or "
Wolfden
") is pleased to announce that an additional drill hole has intersected
multiple zones (or lenses) of high-grade base metal mineralization at depth, in the West Lens of the
deposit as part of the Company's ongoing infill and expansion drill program on its wholly-owned
Pickett Mountain Project in
Maine
, USA.
Drill hole PM-18-023A intersected four (4) massive sulphide lenses at down-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)
PM-18-023A
595.1
597.9
2.8
2.5
1.0
0.3
1.2
13.0
0.2
615.5
616.2
0.7
14.4
9.0
3.7
1.7
93.7
0.6
646.6
652.6
6.0
16.2
10.2
4.7
1.3
54.6
0.5
686.9
690.9
4.0
22.5
14.6
7.1
0.8
155.8
0.8
PM-18-023A is a wedge hole off of the previously announced hole 023 intersected the main zone of
the West Lens (W1) and returned 4.0 metres at 22.5% combined Zn+Pb+Cu approximately 40
metres above and slightly to the west of hole 023. This correlates well with W1 in hole 23, that
assayed 25.5% combined Zn+Pb+Cu over 2.5 metres. In addition, several zones were intersected
in the hanging wall including a new lens, W2 that yielded 16.2% combined Zn+Pb+Cu over 6.0
metres that also correlates well with an intersection in hole 23, that yielded a combined 12.0%
Zn+Pb+Cu over 5.9 metres. Additional drilling to build the mineral resources of both lenses is clearly
warranted and will be conducted over the coming months now that a second drill has been added to
the project. The new and larger drill rig will focus on the deeper drilling of the West Lenses and the
smaller rig will now commence expansion of the East Lens and the several surrounding exploration
(geophysical) targets once they have been prioritized.
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
SOURCE
Wolfden Resources Corporation
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http://www.newswire.ca/en/releases/archive/October2018/10/c5257.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 10-OCT-18