Wedge Hole 22A yields 5.9 m at 24.0% Zn, 11.8% Pb, 1.0% Cu, 324 g/t Ag
& 1.4 g/t Au
THUNDER BAY, ON, Sept. 25, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) (the "Company" or
"Wolfden") is pleased to announce that additional deep
drill holes in the Company's ongoing infill and expansion drill
program on its wholly-owned Pickett Mountain Project in
Maine USA, have intersected
high-grade massive sulphide mineralization, in the West lens of the
deposit.
Drill hole 22A, a wedge hole driven from and above the
previously announced hole 22, intersected the West Lens at a
vertical depth of 520 metres from surface (approximately 40 metres
above hole 22). The massive sulphide intersection is 5.9
metres in core length and contains 24.0% Zn, 11.8% Pb, 1.0% Cu,
324 g/t Ag & 1.4 g/t Au. Hole 22, announced on
July 9th, 2018,
intersected 4.7 metres at 24.0% Zn, 10.0% Pb, 0.9% Cu, 267 g/t
Ag & 1.6 g/t Au. over 4.7 metres. These grades are
amongst the best in the deposit and similar to the deepest
intersection at 800 metres where the deposit remains open. True
widths are approximately 70% of the core length.
In another wedge hole 23A, driven from and above hole 23, assay
results are pending for multiple intercepts of massive sulphide
mineralization. This intersection is located 70 metres east
of hole 22A and 30 metres above hole 23, at approximately the same
depth of 520 metres. Of interest, in this area there are
multiple lenses of massive sulphides with hole 23 returning 2.5
metres at 20.3% Zn, 3.8% Pb, 1.4% Cu, 78 g/t Ag, 1.0 g/t Au and 5.9
metres at 7.5% Zn, 3.2% Pb, 1.3% Cu, 65 g/t Ag, 0.7 g/t Au (see
press release August 1,
2018).
The above drill intercepts in combination with recently released
results, comprise the deepest drilling completed by the Company to
date in the West Lens and clearly demonstrate the potential to
expand resources below a depth of 400 metres, where there was
minimal historical drilling. The latest results can be viewed
on an updated vertical longitudinal drill section in the Pickett
Mtn. presentation on the Company website.
Furthermore, ongoing exploration work both local and regional to
the main deposit, includes prospecting, geological mapping, soil
sampling and trenching on a number of prospective targets generated
by the Company's airborne VTEM and ground IP geophysical surveys.
Several VTEM conductors display similar geophysical signatures to
those associated with both the East and West lenses of the Pickett
Mountain deposit and will be drill tested in further efforts to
discover additional massive sulphide lenses.
A second and larger drill rig is expected to arrive on the
property in the coming weeks and will focus on the deeper expansion
drilling and allow the current smaller rig to focus on more shallow
intersections in the main zone and other exploration
targets.
The Company is in the process of modelling the historical and
recent drill results in order to generate a an initial 43-101
compliant mineral resource estimate during the forth quarter and
could be further updated in 2019 as the 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 its 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