Wolfden Commences 2019 Drill Program at High-Grade Polymetallic Deposit Targets include the expansion of 19.5 m at 33.1% ZnEq at depth and the Footwall Zone Discovery of 4.1 m at 38.2% ZnEq
Wolfden Commences 2019 Drill Program at
High-Grade Polymetallic Deposit
Targets include the expansion of
19.5 m
at 33.1% ZnEq at depth and
the Footwall Zone Discovery
of
4.1 m
at 38.2% ZnEq
THUNDER BAY, ON
,
June 13, 2019
/CNW/ -
Wolfden Resources Corporation
(WLF.V)
("Wolfden" or the "Company") is pleased to announce that it has commenced its 2019 exploration
program at its 100%-owned high-grade polymetallic Pickett Mountain Project, located in
Penobscot
County
in north-eastern
Maine
, U.S.A. The program will include up to 10,000 metres of diamond
drilling that will be focused on expanding resources and testing high priority drill targets that could
lead to the discovery of other lenses similar to the Footwall Zone (FWZ) that was discovered at the
end of 2018 drill program.
The 2019 drill program will include step-out holes (wedging) around the FWZ, the West and East
lenses and testing favourable targets to the north that indicate the potential for other mineralization.
Recent review by a geological structural specialist indicates the potential for repetition to the north of
the similar volcanic sequence, that hosts the massive sulphide mineralization. Further ground truthing
of this area is underway prior to drilling. The Pickett Mountain Project is one of the highest grade
undeveloped volcanogenic massive sulphide ('VMS') deposits in
North America
.
Footwall Zone Discovery
One of the highlights of the 2018 program was the discovery of the Footwall Zone in hole PM-18-
031 with
4.1 m
at 38.2% ZnEq. The FWZ is a poly-metallic rich zone located approximately 150
metres north of the East Lens at a vertical depth of 650 metres. Assay results are in the table
below.
Hole No.
From
(m)
To
(m)
Length
(m)
ZnEq
(%)
Zinc
(%)
Lead
(%)
Copper
(%)
Silver
(g/t)
Gold
(g/t)
PM-18-031
733.9
737.0
4.1
38.2
16.6
8.4
1.9
612.0
0.5
"Ongoing work indicates that the FWZ has the potential to be a completely separate and parallel
lens that has not been tested by previous drilling," stated
Don Hoy
, SVP of Exploration for the
Company. "The 2019 program will focus on expanding the FWZ, the West Lens at depth and the
discovery of new high-grade lenses at Pickett Mountain".
West Lens Expansion
The West Lens is host to some of the highest grade mineralization within the deposit. One of the
final step-out holes of the 2018 drill program, was PM-18-032 that intersected high-grade
mineralization in the West Lens at vertical depth of 600 metres. Assay results are in the table
below. This intercept of
19.5 m
at 33.1% ZnEq was not included in the mineral resource estimate
released on
January 7, 2019
and indicates the significant potential to add to the mineral resources at
depth.
Hole No.
From
(m)
To
(m)
Length
(m)
ZnEq
(%)
Zinc
(%)
Lead
(%)
Copper
(%)
Silver
(g/t)
Gold
(g/t)
PM-18-032
654.8
674.3
19.5
33.1
18.4
8.3
0.9
269.0
1.1
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 reviewed and approved by
Don Hoy
, P. Geo., SVP
Exploration and
Ron Little P. Eng
., President and CEO, who are Qualified Persons' under National
Instrument 43-101.
The metal prices used to determine Zinc Equivalent (ZnEq) grades are
US$1.20
/pound for zinc,
US$1.00
/pound for lead,
US$2.50
/pound for copper,
US$16.00
/troy ounce
for silver, and
US$1200
/troy ounce for gold.
About Wolfden
With the support of major investors Kinross Gold Corporation and Altius Minerals, Wolfden plans to
explore and develop its wholly owned
Pickett Mountain Project
in
Maine, USA
, which is one of the
highest-grade polymetallic projects in
North America
(Zn, Pb, Cu, Ag, Au) and located near excellent
infrastructure.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information (within the meaning of applicable
Canadian securities legislation) that involves various risks and uncertainties regarding future
events. Such forward-looking information includes statements based on current expectations
involving a number of risks and uncertainties and such forward-looking statements are not
guarantees of future performance of the Company, and include, without limitation, statements
relating to
information about future activities at the Pickett Mountain Project that include plans to
complete additional drilling and technical studies in 2019 to support a preliminary economic
assessment of an underground mining scenario on the Project
. There are numerous risks and
uncertainties that could cause actual results and the Company's plans and objectives to differ
materially from those expressed in the forward-looking information in this news release, including
without limitation, the following risks and uncertainties: (i) risks inherent in the mining industry; (ii)
regulatory and environmental risks; (iii) results of exploration activities and development of mineral
properties; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and
capital market fluctuations; and (vi) general market and industry conditions. Actual results and
future events could differ materially from those anticipated in such information. This forward-
looking information is based on estimates and opinions of management on the date hereof and is
expressly qualified by this notice. 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
at
www.sedar.com
. The Company 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 applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Wolfden Resources Corporation
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For further information:
Please contact Ron Little, President & CEO, at (807) 624-1136.
CO: Wolfden Resources Corporation
CNW 09:57e 13-JUN-19