Wolfden Intersects Depth Extension and New Zone at High Lake
fin-info.com
Thunder Bay, Ontario --
Shares Issued: 15,111,921
WOLFDEN RESOURCES INC. (TSX-V:YWO) is pleased to announce that the
first step-out hole, drilled to test the depth extension of
mineralization at its 100% owned High Lake Property in Nunavut
Canada, has intersected high-grade copper mineralization over
substantial widths and a new footwall mineralized zone. The current
Phase I program will consist of diamond drilling using two drill
rigs and airborne geophysics. The budget for the current program is
approximately $2,000,000 and drilling is expected to continue
throughout the summer.
The first drill hole of this Phase I program intersected 36.95
meters grading 2.57% copper in the B-Zone, followed by a new
mineralized footwall diorite zone (assays pending). This hole
represents an approximate 40 meter step-out down-dip on Section
4+35N in the B-Zone, and undercut Hole No. HL01-07 drilled in 2001
which returned 5.21% Cu across 29.55m. Ongoing drilling shows that
the B-Zone mineralization continues to extend at depth. Prior to
the Wolfden (2001) drill program, the previously calculated
resource for the B-Zone was 3.23 million tonnes grading 5.03% Cu,
1.1% Zn, 2.3 g/t Au and 18.2 g/t Ag.
Hole No. Zone Grid Co-ord Dip Az. Intersection(m)
---------------------------------------------------------------
HLW-201 B-Zone 4+32N-6+63W 66 90 203.50-240.45
Including 213.70-230.20
Hole No. Int.(m) Cu% Zn% Au(g/t) Ag(g/t)
---------------------------------------------------------------
HLW-201 36.95 2.57 Tr. 0.28 16.80
16.50 3.27 Tr. 0.30 18.80
Drilling with a second rig has commenced on the D-Zone which
contains a previously calculated resource of 1,570,000 tonnes
grading 2.1% Cu, 4.9% Zn, 0.6 g/t Au, and 59.1 g/t Ag. Drilling
will target additional mineralization at depth and along strike to
the north where the deposit remains open.
It is Wolfden's opinion that the High Lake VMS deposit is one of
the highest grade undeveloped poly-metallic deposits in Canada.
Currently, the drill-indicated resource is 5.3 million tonnes
averaging 4.05% Copper, 2.36% Zinc, 1.76 g/t Gold and 31.73 g/t
Silver (Source: NWT Energy, Mines & Petroleum Resources). The size
of the primary zones at High Lake makes them amenable to open-pit
mining and additional reserves may exist at depth beneath all
zones.
Additional drill results from the ongoing program are expected to
be released at the Company's upcoming Annual General Meeting, being
held at the Ontario Club, 5th Floor, Commerce Court South, 30
Wellington Street, Toronto, Ontario at 4:30pm EST on Wednesday,
June 12, 2002.
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 |
