Wolfden Commences Diamond Drilling on its Orvan Brook Property in the Bathurst Mining Camp, New Brunswick
Wolfden Commences Diamond Drilling on its Orvan Brook
Property in the Bathurst Mining Camp, New Brunswick
THUNDER BAY, ON
,
June 15, 2017
/CNW/ -
Wolfden Resources Corporation (WLF:TSX-V)
("
Wolfden
" or the "
Company
") is pleased
to announce that it has commenced diamond drilling on its 100%-owned Orvan Brook property (the "Property"). The Property is well located
proximal to infrastructure, approximately 35 kilometres west of the
City of Bathurst
and 15 kilometres east-northeast of Trevali Mining
Corporation's Caribou mine and mill facility, in the prolific Bathurst Mining Camp of northeastern
New Brunswick
.
THE ORVAN BROOK PROPERTY:
The property is host to the
Orvan Brook Zn-Pb-Cu-Ag-Au massive sulphide deposit
that was discovered in 1939 and has seen only moderate
previous drilling that identified high-grade mineralization over a strike length of more than two (2) kilometres. Wolfden's compilation of the
historical data reveal a number of high-grade intersections occurring within 200 metres of surface, including
0.31% Cu, 2.44% Pb, 8.63% Zn &
71.0 g/t Ag over 4.88 metres (T-24), 0.31% Cu, 2.44% Pb, 8.63% Zn, 81.00 g/t Ag over 4.88 metres (T-27)
and
0.32% Cu, 1.56% Pb,
5.39% Zn, 50.84 g/t Ag over 6.00 metres (B-4).
There are significant gaps of 300 to 400 metres between these drill holes, where potential
exists along strike and down-dip from such holes to establish significant mineralization. A similar target area occurs 400 metres below surface
where there is significant room to expand on massive sulphide intercepts including 0
.44% Cu, 2.31% Pb, 7.37% Zn & 89.20 g/t Ag over 5.62
metres as well as 0.28% Cu, 2.85% Pb, 8.16% Zn, & 82.90 g/t Ag over 5.47 metres
.
The priority areas will be targeted in an initial drill program comprising approximately 6,000 metres aimed at helping establish a mineral resource
estimate. Results will be released as they become available.
The Orvan Brook deposit is hosted in sedimentary rocks overlying felsic volcanic rocks of the Spruce Lake Formation, a stratigraphic position
known to host some of the larger base-metal deposits in the Bathurst Mining Camp, including Trevali's Caribou deposit (Measured and Indicated
Resource: 7.23 MT @ 0.43% Cu, 2.93% Pb, 6.99% Zn, 84.4 g/t Ag & 0.89 g/t Au, Inferred Resource: 2.69 MT @ 0.37% Cu, 2.81% Pb,
6.95% Zn, 87.3 g/t Ag & 1.23 g/t Au)
1
.
Note
1
:
Resource figures obtained from Trevali Mining Corporation website
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company holding nickel properties in
Manitoba
and Zn-Pb-Cu base-metal properties in
New Brunswick
(>24,000 hectares).
Manitoba
is ranked #2 in
Canada
and #2 in the world as the most favorable jurisdiction to conduct mining and exploration
(Fraser Institute (2016-2017)).
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 the timing for the completion of a mineral resource
estimate on the Orvan Brook property, plans and results of exploration and the magnitude and quality of the property. 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
View original content: http://www.newswire.ca/en/releases/archive/June2017/15/c4493.html
%SEDAR: 00033002E
For further information:
Donald Hoy, President and CEO, Wolfden Resources Corporation, Tel: (807) 624-1131, Fax: (807) 624-1133,
Email: [email protected], Website: www.wolfdenresources.com
CO: Wolfden Resources Corporation
CNW 06:00e 15-JUN-17