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Wolfden Resources Inc. HIGH LAKE DRILLING FURTHERS HIGH GRADE MINERALIZATION
IMMEDIATE PRESS RELEASE
THUNDER BAY, ONT. AUGUST 8, 2002
Shares Issued: 15,504,421
WOLFDEN RESOURCES INC. (TSX-V:YWO) is pleased to announce that ongoing
drilling at its 100% owned High Lake Property in Nunavut, Canada continues
to intersect numerous zones of high grade base metal mineralization in both
the B and D-Zones, as well as elevated precious metal intervals. An
airborne geophysical survey of the High Lake area is being initiated and
drilling will test significant anomalies identified by the survey. The
current Phase I program is being completed with the technical assistance of
Teck-Cominco Limited and the budget for the current program is approximately
$2,000,000.
Highlights include 3.55m grading 1.77% Cu with 6.37g/t Au and 47.8m grading
5.35% Cu in the B-Zone in hole no. HLW-208; 5.55m grading 1.21% Cu, 8.61% Zn
and 1.44g/t Au in the D-Zone in hole no. HLW-210; and 10.20m grading 3.88%
Cu in the B-Zone in hole no. HLW-211. The current drilling consists of
step-out drilling along strike and down-dip in the B and D Zones. Both
zones remain open for expansion. The following table summarizes the
additional results received from the current drill program:
Hole Zone Grid Dip Az. Intersection(m) Int.(m) Cu% Zn% Au(g/t)
g(g/t) No. Co-ord
HLW-208 B-Zone 3+80N-5+50W 55 90 26.80-30.35 3.55 1.77 Tr. 6.3
19.13
35.10-40.30 5.20 2.53 Tr. 2.16
38.90
67.10-71.00 3.90 3.78 Tr. 0.36
35.69
77.65-125.45 47.80 5.35 Tr. 0.28
17.73
HLW-209 Target between zones 0+81N-4+30W 50 90
NSA
HLW-210 D-Zone 2+80S-4+37W 59 90 120.65-122.70 2.05 1.35 1.99 0.48
33.63
131.05-136.60 5.55 1.21 8.61 1.44
40.31
215.20-220.10 4.90 1.13 5.34 0.35
22.65
HLW-211 B-Zone 3+80N-5+93W 55 90 72.00-75.65 3.65 0.14 7.32 1.29
12.71
83.80-103.10 19.30 2.83 Tr. 0.48
25.17
Including 92.90-103.10 10.20 3.88 Tr. 0.22
35.54
142.10-143.50 1.40 3.71 Tr. 0.04
23.00
146.25-158.40 12.15 1.77 Tr. 0.18
38.57
165.70-172.00 6.30 2.00 Tr. 0.25
10.30
NSA - No significant assays
Assays by Accurassay Laboratories, Thunder Bay, Ontario
In other news, Bema Gold Corporation has resumed exploration on Wolfden's
Monument Bay Gold Property. This exploration will target the Seeber River
zones located to the west of the Twin Lakes B-Zone where Bema has outlined
an initial inferred resource of 500,000 tonnes with an average grade of
18.3g/t Au, containing approximately 300,000 ounces of gold. Bema has the
option to earn up to a 70% interest in the Property.
Wolfden is a Canadian based mineral exploration and development company
engaged in the exploration of economic mineral deposits.
For further information, please contact.
Ewan Downie, President
Phone: 807-346-1668
Fax: 807-473-1977
e-mail: wolfden@baynet.net
Web Site:
www.wolfdenresources.com
The statements made in this Press Release may contain forward looking
statements that may involve a number of risks and uncertainties. Actual
events or results could differ materially from the Company's expectations
and projections. |
