A second drill rig has been added to the program
THUNDER BAY, ON, Oct. 10, 2018 /CNW/ - Wolfden Resources
Corporation (WLF.V) (the "Company" or "Wolfden") is pleased to announce that an additional drill hole has
intersected multiple zones (or lenses) of high-grade base metal mineralization at depth, in the West Lens of the deposit as part
of the Company's ongoing infill and expansion drill program on its wholly-owned Pickett Mountain Project in Maine, USA.
Drill hole PM-18-023A intersected four (4) massive sulphide lenses at down-hole depths and lengths in metres as highlighted
below:
Hole No.
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn+Pb+Cu
(%)
|
Zn
(%)
|
Pb
(%)
|
Cu
(%)
|
Ag
(g/t)
|
Au
(g/t)
|
PM-18-023A
|
595.1
|
597.9
|
2.8
|
2.5
|
1.0
|
0.3
|
1.2
|
13.0
|
0.2
|
|
615.5
|
616.2
|
0.7
|
14.4
|
9.0
|
3.7
|
1.7
|
93.7
|
0.6
|
|
646.6
|
652.6
|
6.0
|
16.2
|
10.2
|
4.7
|
1.3
|
54.6
|
0.5
|
|
686.9
|
690.9
|
4.0
|
22.5
|
14.6
|
7.1
|
0.8
|
155.8
|
0.8
|
PM-18-023A is a wedge hole off of the previously announced hole 023 intersected the main zone of the West Lens (W1) and
returned 4.0 metres at 22.5% combined Zn+Pb+Cu approximately 40 metres above and slightly to the west of hole 023. This
correlates well with W1 in hole 23, that assayed 25.5% combined Zn+Pb+Cu over 2.5 metres. In addition, several zones were
intersected in the hanging wall including a new lens, W2 that yielded 16.2% combined Zn+Pb+Cu over 6.0 metres that also
correlates well with an intersection in hole 23, that yielded a combined 12.0% Zn+Pb+Cu over 5.9 metres. Additional drilling to
build the mineral resources of both lenses is clearly warranted and will be conducted over the coming months now that a second
drill has been added to the project. The new and larger drill rig will focus on the deeper drilling of the West Lenses and
the smaller rig will now commence expansion of the East Lens and the several surrounding exploration (geophysical) targets once
they have been prioritized.
The Company is continuing to model the historical and recent drill results in order to generate an updated mineral resource
estimate before the end of the year and one that can be further expanded as drilling continues. Drill results obtained from both
the West and East Lenses of the Pickett Mountain deposit can be viewed on an updated vertical longitudinal drill section in the
Pickett Mtn. presentation on the Company
website.
Quality Assurance / Quality Control
Wolfden adheres to strict Quality Assurance and Quality Control protocols including routine insertion of blanks and certified
reference standards in each sample batch of drill core that is sent to the lab for analyses. Drill core samples are split in half
using a diamond saw with one half saved for reference and the other half shipped via secure transport to Activation Laboratories
sample preparation facility in Fredericton, New Brunswick. Core samples are analyzed for
zinc, lead and copper utilizing sodium peroxide fusion, acid dissolution followed by ICP-OES (Code 8). Gold is analyzed by fire
assay (30 g) utilizing AA finish (Code 1A2) and samples with over 5 g/t are analyzed by fire assay with gravimetric finish (Code
1A3). Silver is analyzed by fire assay with gravimetric finish (Code 8-Ag).
The information in this news release has been prepared and approved by Don Hoy, P. Geo., SVP
Exploration and Ron Little P.Eng., President and CEO for the Company who are both Qualified
Persons under National Instrument 43-101.
About Wolfden
Wolfden is a Canadian exploration and development company focused on advancing its wholly owned high-grade (Zn-Pb-Cu-Ag-Au)
VMS Pickett Mountain Project in Maine, USA. Located close to excellent infrastructure, the
company plans to complete sufficient exploration, definition drilling and various technical studies in order to demonstrate the
economic potential for an underground mining scenario on the Project.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain information that may constitute forward-looking information or forward-looking
statements under applicable Canadian and United States securities legislation (collectively,
"forward-looking information"), including but not limited to information about future drilling activities at the Pickett
Mountain Project; the timing and completion of an anticipated mineral resource estimate and technical studies at the
Pickett Mountain Project; and the scope of and the anticipated effect of new mining legislation in Maine. This forward-looking information entails various risks and uncertainties that are based on current
expectations and actual results may differ materially from those contained in such information. These uncertainties and risks
include, but are not limited to, the strength of the global economy; the price of base metals and minerals generally;
operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral
resources; the degree to which factors which would make an underground mineral deposit commercially viable are present; the risks
and hazards associated with mineral exploration and mining operations; and the ability of Wolfden to fund its substantial capital
requirements and operations. 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 available at
www.sedar.com. Readers are urged to read these materials. Wolfden 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 law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility
SOURCE Wolfden Resources Corporation
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