Wolfden resumes diamond drilling at Rice Island, Snow Lake Greenstone Belt, Manitoba
Wolfden resumes diamond drilling at Rice Island, Snow Lake Greenstone Belt,
Manitoba
THUNDER BAY, ON, Feb. 7, 2017 /CNW/ - Wolfden Resou rces Corporation (WLF: TSX-V) ("Wolfden"
or the "Company") today announces that the 2017 diamond drilling pro gram has commenced on the
Company's 100%-owned Rice Island property (the "Property") , located approximately 10 kilometres
southeast of the Town of Snow Lake, in west-central Manitoba. Drilling by the Company on the Property
in 2015 and 2016, yielded extremely encouraging res ults; confirming the grade of the Main Zone (MZ)
defined in historic drilling and resulted in two new discoveries, the New Lower Zone (NLZ) and the
Boundary Zone (BZ) (see Wolfden news releases dated January 19, 2016, March 22, 2016 & April 12,
2016 for details of prior drill results).
DIAMOND DRILLING PRIORITIES:
In late 2016, Wolfden successfully negotiated the acquisition of the adjoining land package that provides
the Company with a dominant land position in this p art of the prospective Nickel-Copper "trend" of the
Snow Lake camp. The Boundary Zone was discovered late in the 2016 drill program close to the
boundary of the newly acquired property package.
2017 drilling will focus on testing two (2) priority target areas. The first priority is the NLZ, where recent
Wolfden drilling returned intercepts of 2.48% Ni, 0.79% Cu & 0.09% Co over 15.60 metres (RI-15-01),
3.97% Ni, 0.95% Cu & 0.18% Co over 4.60 metres (RI-15-05), 1.14% Ni, 0.70% Cu & 0.06% Co over
14.10 metres (RI-15-13) and 2.42% Ni, 1.29% Cu & 0.16% Co over 21.10 metres (RI-16-
25). Specifically, drilling will test a series of strong conductors identified in a recently completed
geophysical survey that are situated below the NLZ . The conductors, outlining a prospective area of 250
metres by 250 metres, suggest the potential of additional nickel-copper-cobalt mineralization at depth and
along strike from current drill holes that have intersected the NLZ (see Figure 1).
Second-priority drilling will target a prominent magnetic and electromagnetic trend that potentially reflects
the southwest extension of the Rice Island Ni-Cu-Co deposit. The magnetic anomaly and conductors
associated with the Rice Island deposit continue for an additional 500 metres to the southwest of known
mineralization. Wolfden's recent drilling on the claim boundary (BZ) between the Rice Island property and
Rice-Island Tie-On property included intercepts of 2.57% Ni, 1.07% Cu & 0.08% Co over 17.4 metres
(RI-15-13) as well as 1.07% Ni, 0.83% Cu & 0.10% Co over 6.30 metres (RI-15-14). This drilling is the
furthest that Wolfden has stepped out to the southwest to date, testing for extensions of the Rice Island
Ni-Cu-Co deposit which remains wide open along stri ke.
Diamond drilling results will be released as they become available.
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company exploring the Rice Island and Nickel Island properties in
Manitoba. Manitoba is ranked #6 in Canada and #19 i n the world as the most favorable jurisdiction to
conduct mining and exploration (Fraser Institute (2015-2016). The Company also holds a dominant,
24,000 hectare land position in the heart of the Bathurst Mining Camp in New Brunswick.
The technical information in this news release has been prepared and approved by Donald Hoy, P. Geo.,
President, CEO and a director of the Company and a Qualified Person under National Instrument 43-101.
This press release contains forward-looking informa tion (within the meaning of applicable Canadian
securities legislation) that involves various risks and uncertainties regarding future events. Such forward-
looking information includes the intended use of pr oceeds, the date of the winter drilling program,
statements based on current expectations involving a number of risks and uncertainties and such
forward-looking statements are not guarantees of fu ture performance of the Company, and include,
without limitation, statements relating to plans and results of exploration and the magnitude and qual ity 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 r elating to the estimation of mineral resources; (v) stock
market volatility and capital market fluctuations; and (vi) general market and industry conditions. Ac tual
results and future events could differ materially from those anticipated in such information. This for ward-
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 full y
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 the 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 news
release.
SOURCE Wolfden Resources Corporation
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%SEDAR: 00033002E
For further information: Donald Hoy, President and CEO, Wolfden Resources C orporation, Tel:
(807) 624-1131, Email: [email protected]
CO: Wolfden Resources Corporation
CNW 07:50e 07-FEB-17