Wolfden Commences Drill Program at Orvan Brook in Bathurst NB
Wolfden Commences Drill Program at Orvan
Brook in Bathurst NB
THUNDER BAY, ON
, Nov. 5, 2018 /CNW/ -
Wolfden Resources Corporation (WLF.V)
is pleased
to announce that it has commenced a 2,500 metre diamond drill program on its 100%-owned Orvan
Brook property in the heart of the Bathurst Mine Camp of
New Brunswick
. The property is close to
excellent infrastructure including the producing Caribou Mine, operated by Trevali Mining
Corporation.
The Orvan Brook project comprises several parallel lenses of disseminated to banded massive
sulphide mineralization that can be traced over a three kilometre strike-length and to a depth of 500
metres. It remains open at depth and the lenses can vary in thickness up 12.7 metres. The deposit
is hosted within the same rhyolitic sequence of the
Spruce Lake
formation that also hosts the
Caribou Mine. An historical resource estimate for Orvan Brook, as reported in the Canadian Institute
of Mining & Metallurgy - Exploration & Mining Geology, Vol. 15, Nos. 3-4, 2006, is 2,690,000 tonnes
grading 5.9% Zn, 1.7% Pb, 0.4% Cu, 72 g/t Ag and 1.0 g/t Au. The historical resource was not
prepared in accordance with NI 43-101 and was not classified by a qualified person and therefore,
Wolfden does not treat it as a current mineral resource.
Since acquiring the property, Wolfden has completed 21 drill holes testing the massive sulphide
lenses of the deposit. The grade and tenor of those results are comparable to those at Caribou and
underscore the potential to define an economically significant massive sulphide mineral resource.
The potential down plunge extension of these lenses is the focus of the drill program (see
longitudinal section) in an effort to build a 43-101 compliant mineral resource.
The eastern lens features widely spaced intercepts including 4.7 metres of 9.1% Zn, 2.9% Pb, 0.4%
Cu, 111.0 g/t Ag and 0.5 g/t Au in OB-17-21A, as well as 5.5 metres of 8.2% Zn, 2.9% Pb, 0.3%
Cu, 82.9 g/t Ag in ORB-95-3. Similarly, the western lens contains 2.9 metres of 7.4% Zn, 2.6% Pb,
0.6% Cu, 128.4 g/t Ag and 1.1 g/t Au in OB-17-17.
About Wolfden
Wolfden is a Canadian exploration and development company focused on advancing high-quality
polymetallic projects in
Canada
and it's wholly owned high-grade (Zn, Pb, Cu, Ag) 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 projects.
The information in this news release has been prepared and approved by
Donald Hoy
, M.Sc., P.
Geo., Senior Vice President of exploration and
Ron Little
, President and CEO, who are Qualified
Person's under National Instrument 43-101.
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 Orvan Brook Project; the timing and completion of an anticipated mineral
resource estimate and technical studies at the
Orvan Brook
Project; the results of historical
resource estimates, and what defines an economically significant massive sulphide mineral
resource. 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
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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 07:00e 05-NOV-18