THUNDER BAY, ON, March 20, 2013 /CNW/ - Wolfden Resources Corporation (the "Company") or ("Wolfden") (TSXV: WLF) is pleased to report the discovery by prospecting, of additional
high-grade massive sulphide boulders on its Armstrong Project (the "Property") in north-eastern New Brunswick. The Property comprises a high-grade
polymetallic volcanogenic massive sulphide (VMS) prospect located in
the Bathurst Mining Camp, 15 kilometres northwest of the Brunswick No.
12 deposit. Brunswick No. 12 is one of the world's premier VMS
deposits, having produced lead, zinc, silver and gold over the last 60
years.
The new boulder discoveries are located close to the contact between
mafic volcanic and sedimentary rocks. The contact locale is also
characterized by the presence of minor outcrops and abundant float of
felsic volcanic rocks. The Company believes that taken as a whole, the
close spatial association of the massive sulphide boulders with the
mafic volcanic - sediment contact (and minor felsic volcanic
component), suggests that the mafic volcanic-sediment contact marks a
favourable stratigraphic horizon, potentially hosting significant VMS
mineralization on the Property. An airborne geophysical survey
completed in the fall of 2012, also shows a close relationship of the
high-grade boulders with the boundary between conductive sediments and
non-conductive volcanic rocks.
Assay results from three samples taken from three separate locales from
the new discoveries are summarized below: 1
|
SAMPLE NO.
|
Coordinates (UTM)
|
|
% ZN
|
|
% PB
|
|
% CU
|
|
AG (G/T)
|
|
AU (G/T)
|
|
VMS1
|
5278520N, 0725333E
|
|
10.4
|
|
5.67
|
|
0.118
|
|
130
|
|
656
|
|
VMS2
|
5278365N, 0725348E
|
|
13.7
|
|
6.07
|
|
0.128
|
|
103
|
|
481
|
|
VMS3
|
5278915N, 0725289E
|
|
8.39
|
|
4.63
|
|
0.762
|
|
251
|
|
605
|
|
1Analysis of the samples were completed at ALS Chemex in Vancouver,
utilizing the ME-OG46 method. A prepared sample is digested in 75% aqua
regia for 120 minutes. After cooling, the resulting solution is diluted
to volume (100 ml) with de-ionized water, mixed and then analyzed by
inductively coupled plasma-atomic absorption spectrometry or by atomic
absorption spectrometry. ALS Chemex is independent of the Company.
|
The new boulder discoveries enhance earlier discoveries made by
prospecting on the Property, during 2011 and 2012. The 2011-2012
discoveries consist of 11 boulder clusters occurring over a sizeable
area, a number of which returned bonanza-grade values in lead, zinc and
silver. The 2011-2012 discoveries are located at least 5 kilometres
away from the new discoveries reported above but show the same close
spatial association of VMS boulders with the mafic volcanic-sediment
contact. One cluster where 9 boulders were analyzed, yielded an average
of 16.9% Zn, 5.09% Pb, 217 g/t Ag and 0.90 g/t Au. A second cluster returned average assays of 13.3% Zn, 4.01% Pb, 214 g/t Ag and 0.80 g/t Au 1 (see Wolfden news release dated November 26, 2012).
Donald Hoy, President and CEO stated; "Due to the abundance and angular
nature of the VMS boulders at Armstrong Brook in addition to the thin
overburden cover, I believe the boulders come from a nearby source. The
close association of the boulders with the mafic volcanic-sediment
contact seen in the field and on subsequent geophysical surveys is also
encouraging and suggests that it comprises a favourable horizon for VMS
mineralization".
As soon as access can be gained on the Property which is expected in the
second quarter of 2013, the 2013 exploration program will commence. It
will consist of prospecting, detailed ground geophysical surveys,
trenching and diamond drilling.
The technical information in this news release has been reviewed and
approved by Donald Hoy, P. Geo., the Chief Executive Officer, President
and a director of the Company. Mr. Hoy is a Qualified Person under
National Instrument 43-101.
This press release contains projections and forward-looking information
that involve 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 that: (i) the
Company plans to commence its 2013 exploration program as soon as it
gains access to the property in the second quarter of 2013 which will
include ground geophysics followed by anticipated trenching and diamond
drilling on the Armstrong property in the summer of 2013; (ii) the
Company belief that the mafic volcanic-sediment contact in connection
with the new boulder discoveries marks a favourable strati-graphic
horizon, potentially hosting significant VMS mineralization on the
Armstrong 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. Except as required by law, the Company does
not intend to update this forward-looking information.
Neither the TSX Venture Exchange nor its regulation services provides
(as that term is defined in the policies of the TSX Venture Exchange)
has reviewed or accepts responsibility for the accuracy of adequacy of
this release.
SOURCE: Wolfden Resources Corporation
