That Was The Week That Was … In CanadaWolfden Resources acquired Sabina Resources’ 60 per cent interest in the Follansbee Red Lake gold property where drilling is hitting significant gold grades in the 3 sub-parallel zones on both Wolfden's wholly-owned Bonanza property and on the adjacent Follansbee joint venture project. The deal consolidates the emerging gold play and allows Sabina to focus on its silver exploration strategy. The price tag to Wolfden is C$2 million and 4 million shares. Sabina ended the week down C$0.03 to C$0.68, while Wolfden added C$0.03 to close at C$2.25.
Minews; With its High Lake base metal project in Canada’s north and this Red Lake gold play, Wolfden is looking like a very active company.
CC: Wolfden has been one of the most aggressive junior explorers in Canada over the last couple of years and with this land consolidation at Red Lake, the company is well positioned to spin into two separate companies; one focused on gold and another on the base metals. But more about that late as I plan on having an update on Wolfden and Sabina later in the week.
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