Second hole with multiple zones includes
2.5 m at 20.3% Zn, 3.8% Pb, 1.4% Cu,
77.7 g/t Ag & 1.0 g/t Au
THUNDER BAY, ON, Aug. 1, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) (the "Company" or
"Wolfden") is pleased to announce that a second deep
hole in the Company's ongoing infill and expansion drill program on
its wholly-owned Pickett Mountain Project in Maine USA has intersected multiple zones of
high-grade base metal mineralization, at a depth of 580 metres in
the West lens of the deposit.
Drill hole PM-18-023 intersected three massive sulphide lenses
at down the 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)
|
023
|
638.2
|
643.5
|
5.3
|
5.4
|
3.2
|
1.2
|
1.0
|
36.5
|
0.5
|
|
661.2
|
667.1
|
5.9
|
12.0
|
7.5
|
3.2
|
1.3
|
64,8
|
0.7
|
|
722.0
|
724.5
|
2.5
|
25.5
|
20.3
|
3.8
|
1.4
|
77.7
|
1.0
|
These results in combination with recently released results
obtained in hole PM-18-22, (located approximately 75 m to the west of hole 23, that intersected
24.0% Zn, 10.0% Pb, 0.9% Cu, 267 g/t Ag & 1.6 g/t Au over 4.7
metres, see Wolfden news release dated July
9, 2018), comprise the deepest drilling completed by the
Company to date and clearly demonstrate the potential to expand
resources below a depth of 400 metres, where there was minimal
historical drilling. These results can be viewed on an
updated vertical longitudinal drill section in the Pickett Mtn.
presentation on the Company website. In addition, hole 23 was
deepened an additional 78 m to a
length of 800 m so that it could be
probed in the coming weeks with down-the-hole geophysics to
investigate the potential for other massive sulphide mineralization
within 200 m of the hole.
While waiting for these results, the drill rig was moved to test
several high priority exploration targets in close proximity to the
two main lenses. These targets have been identified by
detailed ground and airborne geophysical surveys as well as
historical soil sampling surveys. Most importantly, the
geophysical surveys indicate the potential for expansion of the
system in several directions. A second drill rig will be mobilized
to advance the exploration and expansion drilling concurrently.
The Company is in the process of modelling 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.
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 it's 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 for the adequacy or accuracy of
this release.
SOURCE Wolfden Resources Corporation