THUNDER BAY, ON, Dec. 11, 2017 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company") is pleased to announce results from recently completed diamond drilling on its 100%-owned Orvan Brook property (the "Property"). The Property is well located proximal to infrastructure, approximately 35 kilometres west of the City of Bathurst and 15 kilometres east-northeast of Trevali Mining Corporation's Caribou mine and mill facility, in the prolific Bathurst Mining Camp of northeastern New Brunswick.
DIAMOND DRILLING RESULTS:
Analyses completed by Activation Laboratories in Ancaster, Ontario utilizing the 1A2 – Fire Assay AA, 1H INAA (INAAGEO)/Total Digestion (Total) and UT-7 Sodium Peroxide Fusion (ICP & ICPMS) analytical packages
Zn equivalent based on US$2.93/lb. for Cu, US$1.13/lb. for Pb, US$1.45/lb. for Zn US$0.53/g for Ag & US$41.13/g for Au
A total of 7drill holes comprising 2,629 metres, were completed during this phase of drilling on the Orvan Brook deposit. Of the 7 drill holes completed, 5 of the drill holes targeted the West Lens of the deposit (OB-17-15, 16, 17, 19 & 20) and 2 tested the deeper East Lens of the deposit (OB-17-18 & 21). Assays for holes 18-21 remain pending.
Highlighting the assay results from the West Lens are intercepts of 7.86% Zn, 3.02% Pb, 0.10% Cu, 85.9 g/t Ag and .319 g/t Au over 2.30 metres in OB-17-15 and 7.39% Zn, 2.58% Pb, 0.59% Cu, 128.4 g/t Ag and 1.129 g/t Au over 2.90 metres in OB-17-17 (see longitudinal section). Additionally, holes OB-17-19 and OB-17-20 intersected 0.35 metres and 1.00 metres of massive sulphide, respectively. Notably, the West lens of the Orvan Brook deposit remains open to depth.
Drill hole OB-17-18 tested the deeper East Lens in efforts to increase the tonnage of this lens. Here, historic drill holes intersected thicker intervals of base-metal mineralization including 8.15% Zn, 2.86% Pb, 0.28% Cu, 82.9 g/t Ag over 5.47 metres. Unfortunately, the presence of faulted sediments above the anticipated target depth precluded the drill hole from reaching the massive sulphide horizon and the drill hole was abandoned. The last hole OB-17-21, also targeted the East lens, intersecting 4.10 metres of massive sulphide.
The technical information in this news release has been prepared and approved by Donald Hoy, President, CEO and a director of the Company. Mr. Hoy is a Qualified Person for the purposes of National Instrument 43-101.
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company holding nickel properties in Manitoba and Zn-Pb-Cu base-metal properties in Maine, USA and in New Brunswick (>24,000 hectares). Manitoba is ranked #2 in Canada and #2 in the world as the most favorable jurisdiction to conduct mining and exploration (Fraser Institute (2016-2017)).
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) 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 the timing for the completion of a mineral resource estimate on the Orvan Brook property, 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) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-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 fully 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 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 release.
SOURCE Wolfden Resources Corporation
For further information: Donald Hoy, President and CEO, Wolfden Resources Corporation, Tel: (807) 624-1131 Fax: (807) 624-1133, Email: [email protected], Website: www.wolfdenresources.com