THUNDER BAY, ON, June 23, 2015 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company") today announces the commencement of diamond drilling on the Company's Brunswick No. 6 West property (the 'Property'). The Property comprises greater than 3,600 hectares and is located in the Bathurst Mining Camp ("BMC"), 25 kilometres west of the City of Bathurst, in north-eastern New Brunswick.
The Brunswick No. 6 West Property:
The Brunswick No. 6 West property is underlain by several kilometres of the favorable 'Brunswick Horizon' that is host to both the Brunswick No. 12 mine (past production of 137 million tonnes at 8.47% Zn, 3.44% Pb, 0.37% Cu & 102.2 g/t Ag1) and the immediately adjacent Brunswick No. 6 mine (past production of 12.1 million tonnes at 5.43% Zn, 2.16% Pb, 0.39% Cu & 67 g/t Ag1). In addition to Brunswick No. 6 and Brunswick No. 12, the neighboring Flat Landing Brook deposit is hosted within the Brunswick Horizon (historical resource of 1.27 million tonnes at 5.62% Zn, 1.29% Pb and 23 g/t Ag2). The largest and most economically important massive sulphide deposits in the BMC occur at or near the Brunswick Horizon, commonly comprising volcaniclastic rocks of the Nepisiguit Falls formation overlain by an oxide iron formation.
In 2012, a lone drill hole was completed to test a prospective geophysical anomaly on the Property (AB-12-12). This hole intersected over 140 metres of highly altered and mineralized Brunswick Horizon rock types. Specifically, the drill hole encountered a thick magnetite-chlorite iron formation underlain by a thick zone of stringer sulphide mineralization within strongly altered felsic volcanic rocks. Sampling returned broad intervals of anomalous base-metal mineralization. A follow-up bore-hole electromagnetic survey (BHEM) defined a strong off-hole conductor interpreted to lie within 30 metres of the drill-hole intersections. This strong BHEM off-hole anomaly was not tested by diamond drilling and will be drilled by Wolfden in the coming days.
Drill results will be released as they become available.
About Wolfden Resources:
Wolfden is a mineral exploration company with a dominant, 24,000 hectare, land position in the heart of the Bathurst Mining Camp in New Brunswick. New Brunswick was ranked #4 in Canada and #21 in the world as the most favorable jurisdiction to undertake mining and exploration by the Fraser Institute (2014-2015). The company's Tetagouche property is host to 5 historic massive sulphide deposits and offers excellent potential for new discoveries. The property is located within 20 kilometres of the famous Brunswick No. 12 mine (Glencore) and mill and the soon to be commissioned Caribou complex (Trevali). The Company also has a 100% interest in the Clarence Stream gold-antimony property in southern New Brunswick that hosts a significant 43-101 compliant mineral resource and has recently acquired a quality nickel-copper property in Manitoba.
The technical information in this news release has been prepared and approved by Donald Hoy, P. Geo., President and a director of the Company. Mr. Hoy is a Qualified Person under National Instrument 43-101.
Note 1: All of the deposits are historic estimates that are not compliant with National Instrument 43-101 and cannot be relied upon for valuation purposes. A qualified person has not done sufficient work to classify the above historic estimates as current mineral resources and accordingly, the Company is not treating the historical estimates as current mineral resources.
This press release contains forward-looking information 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 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) stock market volatility and capital market fluctuations; and (v) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are based on estimates and opinions of management on the date hereof and are expressly qualified by this notice. 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) has reviewed or accepts responsibility for the accuracy or adequacy of this release.
SOURCE Wolfden Resources Corporation
For further information: Donald Hoy, President, Wolfden Resources Corporation, Tel: (807) 624-1131, Email: firstname.lastname@example.org; George Topping, Chief Executive Officer, Wolfden Resources Corporation, Tel: (647) 925-9457, Email: email@example.com