THUNDER BAY, ON, June 15, 2017 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) ("Wolfden" or the "Company") is pleased to announce that it has commenced 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.
THE ORVAN BROOK PROPERTY:
The property is host to the Orvan Brook Zn-Pb-Cu-Ag-Au massive sulphide deposit that was discovered in 1939 and has seen only moderate previous drilling that identified high-grade mineralization over a strike length of more than two (2) kilometres. Wolfden's compilation of the historical data reveal a number of high-grade intersections occurring within 200 metres of surface, including 0.31% Cu, 2.44% Pb, 8.63% Zn & 71.0 g/t Ag over 4.88 metres (T-24), 0.31% Cu, 2.44% Pb, 8.63% Zn, 81.00 g/t Ag over 4.88 metres (T-27) and 0.32% Cu, 1.56% Pb, 5.39% Zn, 50.84 g/t Ag over 6.00 metres (B-4). There are significant gaps of 300 to 400 metres between these drill holes, where potential exists along strike and down-dip from such holes to establish significant mineralization. A similar target area occurs 400 metres below surface where there is significant room to expand on massive sulphide intercepts including 0.44% Cu, 2.31% Pb, 7.37% Zn & 89.20 g/t Ag over 5.62 metres as well as 0.28% Cu, 2.85% Pb, 8.16% Zn, & 82.90 g/t Ag over 5.47 metres.
The priority areas will be targeted in an initial drill program comprising approximately 6,000 metres aimed at helping establish a mineral resource estimate. Results will be released as they become available.
The Orvan Brook deposit is hosted in sedimentary rocks overlying felsic volcanic rocks of the Spruce Lake Formation, a stratigraphic position known to host some of the larger base-metal deposits in the Bathurst Mining Camp, including Trevali's Caribou deposit (Measured and Indicated Resource: 7.23 MT @ 0.43% Cu, 2.93% Pb, 6.99% Zn, 84.4 g/t Ag & 0.89 g/t Au, Inferred Resource: 2.69 MT @ 0.37% Cu, 2.81% Pb, 6.95% Zn, 87.3 g/t Ag & 1.23 g/t Au)1.
Note 1: Resource figures obtained from Trevali Mining Corporation website
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company holding nickel properties in Manitoba and Zn-Pb-Cu base-metal properties 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