Wolfden Resources Inc. - Sand Lake drilling intersects 3.29% copper across 15.05 meters - Surface showing assays up to 2.46% Cu & 9.00% Zn
Monday October 16, 1:10 pm ET
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THUNDER BAY, ON, Oct. 16 /CNW/ - WOLFDEN RESOURCES INC. (TSX:WLF - News) is pleased to announce the encouraging results from 2006 exploration on new targets in Nunavut, Canada. These results include drilling results from the Sand Lake prospect, a new zone discovered by Wolfden in 2005, which is located 12 kilometers north of the company's 100% owned High Lake Property, and grab sample results from the Point Lake Prospect, located in the same belt as the company's 100% owned Izok Property.
Sand Lake Prospect - High Lake Project
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In 2005, three holes were drilled into the Sand Lake target. All three holes intersected near-surface stringer and massive sulphide mineralization, returning assays as high as 2.71% copper across 21.0 meters (previously released June 27, 2005, Wolfden discovers new high-grade base metal zones at High Lake)
The 2006 drilling continued to intersect wide horizons of stringer to massive sulphide. The most favourable hole, HLW-06-193 intersected an impressive 45 meters of mineralization with the best section assaying 3.29% Cu across 15.05 meters. The 2005-2006 Sand Lake program has been successful at delineated a near surface, copper rich horizon with the best mineralization being identified over a strike length of 200 meters as intersected by holes HLW-05-144, HLW-05-142, HLW-05-139, HLW-06-193, and HLW-06-188. This prospective horizon remains open at depth. Additionally, a significant +10 meter wide zinc-rich zone was intersected in hole HLW-06-195 on the north-most section drilled.
Other 2006 intersections are as follows:
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Section From To Cu Zn Pb Ag Au
Drill Hole (N) (m) (m) Interval % % % g/t g/t
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HLW-06-187 7487800 31.10 35.20 4.1m 0.01 2.85 0.65 55.00 0.31
HLW-06-188 7487800 127.00 131.35 4.35m 2.87 2.41 0.11 57.54 0.32
HLW-06-188 7487800 159.60 163.25 3.65m 1.20 1.99 0.00 12.27 0.41
HLW-06-189 7488000 248.80 250.40 1.6m 0.03 6.57 0.17 32.25 0.08
HLW-06-190 7487900 176.70 178.60 1.9m 1.89 2.44 0.24 89.39 1.52
HLW-06-190 7487900 189.40 191.55 2.15m 0.08 3.00 0.26 20.61 0.52
HLW-06-191 7488100 277.10 282.20 5.1m 0.03 2.09 0.14 18.41 0.05
HLW-06-191 7488100 340.15 345.00 4.85m 0.07 2.10 0.23 32.73 0.37
HLW-06-191 7488100 432.00 437.60 5.6m 0.46 2.67 0.08 31.83 0.21
HLW-06-193 7487750 142.55 157.60 15.05m 3.29 0.11 0.00 21.19 0.14
HLW-06-195 7488200 528.85 539.75 10.9m 0.07 3.54 0.21 25.37 0.16
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Point Lake Prospect
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During recent prospecting at Point Lake, located approximately 45km south of, and in the same greenstone belt as, Wolfden's 100% owned Izok deposit. The Izok deposit is host to one of the highest grade copper-zinc deposits in the world with an indicated resource of 14.4 Million tonnes grading 2.52% Copper, 1.28% Lead, 12.94% Zinc and 71 grams per tonne silver, plus an inferred resource of 370,000 tonnes grading 3.79% Cu, 0.27% Pb, 6.40% Zn and 54.2g/t Ag. Wolfden geologists collected grab samples from a massive sulphide showing located on the south shore of Point Lake which returned assays of 2.04% Cu, 9.00% Zn and 58g/t Ag (PLT-001) and 2.46% Cu, 7.23% Zn and 70g/t Ag (PLT-002). Historical drilling (3 holes) has traced the mineralized horizon to the south, however the prospective northern extension under Point Lake remains wide open. The surface expression of the Point Lake Zone is more extensive than that at the High Lake West Zone that was discovered by Wolfden in 2003 and is now host to a resource of more than 12 Million tonnes.
The exploration results from the current program have been reviewed by Ian Neill, P.Geo., Project Manager and a qualified person within the meaning of National Instrument 43-101. Mr. Neill has reviewed the exploration results contained in this news release. Core is split, with half sent to Global Discovery Labs for preparation and analyses - using a Standard Classical wet assay with an AA finish.
WOLFDEN is a Canadian based mineral exploration and development company with a diversified portfolio of advanced stage properties and several ongoing exploration programs in Canada. Wolfden is debt free and has a strong treasury.
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.
For further information
Ewan Downie, President & CEO, Phone: (807) 346-1668, Fax: (807) 345-0284, e-mail: Info@wolfdenresources.com, Web Site: www.wolfdenresources.com
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Source: Wolfden Resources Inc. |
