NEWS! Confirmation of High-Grade Nickel & Copper Wolfden Drilling confirms high-grade nickel & copper at Rice Island (cnw)
Including 1.50% Ni & 0.57% Cu across 36.2m and 3.97% Ni & 0.95% Cu across 4.6m
THUNDER BAY, ON, Oct. 26, 2015 /CNW/ - Wolfden Resources Corporation (WLF: TSX-V) ("Wolfden" or the "Company") announces assay results from initial diamond drilling completed on the Company's 100%-owned Rice Island Property (the "Property") located approximately 10 kilometres south-southeast of the Town of Snow Lake in west-central Manitoba. This drilling confirms the potential for significant nickel and copper mineralization with every hole drilled to-date having intersected massive and semi-massive sulphide mineralization.
RICE ISLAND DRILL RESULTS:
The purpose of Wolfden's initial drilling on the Property is to confirm the grade, configuration and nature of nickel-copper mineralization encountered in historic drilling completed during the 1940s at Rice Island. In the current program, 11 holes have been completed with assays having been received for the first 7 holes. Significant results are provided in Table 1 below:
Table 1 – Highlight assay results from Rice Island drilling
| Hole No. | Coordinates | Dip | Azimuth (degrees) | From (m) | To (m) | Interval (m) | Ni (%) | Cu (%) | Comments |
| RI-15-01 | L300N, 072W | -70 | 258 | 143.80 | 180.00 | 36.20 | 1.50 | 0.57 | Main Zone |
| | | | including | 143.80 | 151.30 | 7.50 | 1.95 | 0.71 | M1 |
| | | | also | 164.40 | 180.00 | 15.60 | 2.48 | 0.79 | M2 |
| RI-15-02 | L300N, 072W | -84 | 258 | 157.10 | 159.30 | 2.20 | 1.45 | 0.70 | Main Zone |
| RI-15-03 | L200N, 158W | -70 | 78 | 73.10 | 74.40 | 1.30 | 1.02 | 1.94 | Upper 1 |
| | | | | 84.00 | 88.30 | 4.30 | 0.97 | 1.00 | Upper 2 |
| | | | | 117.10 | 122.60 | 5.50 | 2.00 | 0.65 | Main Zone |
| RI-15-04 | L200N, 158W | -84 | 78 | 79.60 | 87.30 | 7.70 | 2.76 | 1.08 | Main Zone |
| RI-15-05 | L400N, 044W | -89 | 258 | 226.70 | 236.00 | 9.30 | 1.64 | 0.62 | Main Zone |
| | | | including | 226.70 | 229.10 | 2.40 | 2.73 | 0.96 | M1 |
| | | | also | 232.10 | 236.00 | 3.90 | 2.15 | 0.80 | M2 |
| | | | and | 278.40 | 283.00 | 4.60 | 3.97 | 0.95 | Lower Zone |
| RI-15-06 | L500N, 035W | -72 | 264 | 184.40 | 197.50 | 13.10 | 0.67 | 0.44 | Upper Zone |
| | | | and | 203.40 | 208.60 | 5.20 | 2.21 | 0.83 | Main Zone |
| RI-15-07 | L500N, 035W | -83 | 264 | 199.70 | 240.20 | 40.50 | 0.60 | 0.54 | Upper Zone |
| | | | | 244.40 | 247.20 | 2.80 | 3.74 | 1.21 | Main Zone |
| Note 1: True widths are estimated at 70-90% of core width |
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| Note 2: Sample analyses performed by Actlabs Ltd. of Thunder Bay, Ontario utilizing the 4 Acid ICP-OES method; a 0.25 g sample is digested with hydrofluoric acid followed by a mixture of nitric and perchloric acid; the sample is then dried and brought back into solution using aqua regia; the sample is then analyzed using Agilent 735 ICP instrumentation |
The Main Zone horizon is comprised of semi-massive to massive pyrrhotite, chalcopyrite and pentlandite mineralization situated at the base of a gabbroic intrusion, underlain by sedimentary rocks. All 7 drill holes intersected the Main Zone, highlighted by drill intercepts of 1.50% Ni, 0.57% Cu over 36.2 metres and 2.76% Ni, 1.08% Cu across 7.7 metres. Overlying the Main Zone is a broad zone of disseminated to blebby Ni-Cu sulphides (Upper Zone) that collectively, with the underlying massive sulphides, suggests the presence of a classic magmatic nickel-copper mineralizing system. In addition to the Main Zone, drilling has intersected a sediment-hosted zone of massive sulphides located approximately 50 metres below the Main Zone in drill hole RI-15-05 (Lower Zone).
This hole returned an impressive 3.97% Ni and 0.95% Cu over 4.6 metres and suggests good potential for the discovery of additional satellite deposits to exist in a stacked or multiple lens-type array. Additional drilling is clearly warranted to test this lower horizon.
Rice Island is well situated proximal to the established mining communities of Flin Flon and Snow Lake and approximately 5 kilometres from HudBay Minerals' Snow Lake concentrator. The area offers access to power, labour force, supplies and mineral processing facilities. Proximity to such infrastructure will enable the Company to explore the Property year-round.
THE RICE ISLAND NICKEL-COPPER DEPOSIT:
The Rice Island nickel-copper deposit was explored by limited drill programs completed by Inco Ltd. (1949-1950 and 1967). Notably, no significant work has been completed on the deposit nor the Property for well over 50 years. Wolfden is currently drilling at Rice Island in efforts to define an economically significant magmatic nickel-copper deposit and to find additional deposits elsewhere on the Property (see Wolfden news release dated October 6, 2015).
Additional diamond drilling is planned to better define the grade and configuration of the Rice Island deposit in efforts to complete a 43-101 compatible Mineral Resource. Drilling will also be directed at testing the extent of the Lower Zone. Downhole Pulse EM surveys will play an integral role in directing future drill programs in the deposit locale, given the association of semi-massive and massive sulphides with the highest nickel and copper grades.
Additionally a property-wide VTEM airborne geophysical survey was completed that resulted in the identification of a similar geophysical feature (magnetic high and electromagnetic conductor) to the northeast along the Rice Island trend. This anomaly was staked by Wolfden and future efforts will include follow-up exploration on this, and other, prospective drill targets on the Property. Large-loop EM surveys are planned to provide better definition on the airborne targets prior to diamond drilling, anticipated for post freeze-up.