Drill hole 029 intersects 15.0 m of 14.5% Zn, 5.5% Pb, 1.2% Cu, 156
g/t Ag & 1.0 g/t Au
THUNDER BAY, ON, Nov. 19, 2018 /CNW/ - Wolfden
Resources Corporation (WLF.V) (the "Company" or "Wolfden") is pleased to announce additional results from
its ongoing infill and expansion drilling at the Company's wholly owned Pickett Mountain Project in northeastern Maine, USA. The Project represents one of the highest grade zinc-rich, volcanogenic massive sulphide
("VMS") deposits in North America and consists of two primary lenses (East and West) that remain
open for expansion.
Drill holes PM-18-028 (East Lens) and 029 (West Lens), both intersected robust zones of high-grade VMS mineralization as
tabulated below. Horizontal widths for these intersections are equal to 60% of the core length.
Hole No.
|
From
(m)
|
To
(m)
|
Length
(m)
|
Zn+Pb+Cu
(%)
|
Zinc
(%)
|
Lead
(%)
|
Copper
(%)
|
Silver
(g/t)
|
Gold
(g/t)
|
PM-18-028
|
389.3
|
394.3
|
5.0
|
19.8
|
13.9
|
5.3
|
0.6
|
115.4
|
0.9
|
|
Inc. 390.9
|
394.3
|
3.4
|
27.2
|
19.2
|
7.4
|
0.6
|
151.1
|
1.2
|
PM-18-029
|
653.2
|
668.2
|
15.0
|
21.1
|
14.5
|
5.5
|
1.1
|
155.9
|
1.0
|
|
Inc. 657.6
|
668.2
|
10.6
|
27.7
|
19.3
|
7.2
|
1.2
|
206.4
|
1.3
|
Hole 028 intersected the E1 Lens at a vertical depth of 350 metres below surface and returned 19.8% combined Zn+Pb+Cu over 5.0
metres including 3.4 metres at 27.2% combined Zn+Pb+Cu.
Hole 029, a step-out drill hole testing the W1 Lens, cut massive sulphide at a vertical depth of 600 metres below surface,
yielding 15.0 metres of 21.1% combined Zn+Pb+Cu including 10.6 metres of 27.7% combined Zn+Pb+Cu. This deep intercept is one of
the best to date on the project and correlates well with hole 022 (50 m to the east) that returned
34.7% combined Zn+Pb+Cu over 4.7 metres.
In addition, hole 031 intersected new potential lens of massive sulphide mineralization 150 metres to the north (deeper into
the footwall) below the East Lens at a vertical depth of 650 metres. Visual inspection indicates similar appreciable
amounts of zinc, lead and copper sulphide mineralization, as is typical of the East and West lens, over a core length of 2.5
metres. Assay results are pending.
"This deeper mineralization is a very positive development in terms of adding to the scale at Pickett Mountain", stated
Don Hoy SVP Exploration for Wolfden. "The discovery warrants a follow-up program of down-hole EM
surveying in order to explore the extent of this potential new lens of massive sulphide mineralization".
The Company is continuing to model the historical and recent drill results in order to generate an updated mineral resource
estimate. 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 reviewed and approved by Don Hoy, P.Geo., SVP
Exploration and Ron Little P.Eng., President and CEO, who are Qualified Persons' under National
Instrument 43-101.
About Wolfden
Wolfden is a Canadian Exploration and Development Company focused on advancing high-quality polymetallic projects in
Canada and it's high-grade (Zn, Pb, Cu, Ag) VMS Pickett Mountain Project in Maine, USA. Pickett Mountain consists of a wholly owned 6,800 acre property, close to excellent
infrastructure, that includes complete ownership of the land and all rights to minerals, timber and access without any historic
or aboriginal encumbrances. 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 for the adequacy or accuracy of this release.
SOURCE Wolfden Resources Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2018/19/c6017.html