These great results announced at AGM. Once again (see one of my previous posts), this (14% Cu over 10 meters) adds resources in a HURRY. Unfortunately, stock went up 21% today prior to the news release .... not kosher. Suggests to me that some shady promoters are involved and taints management IMHO.
Wolfden Intersects 14.32% Copper Across 10.55 Meters At High Lake
Thunder Bay, Ontario
Shares Issued: 15,141,921
WOLFDEN RESOURCES INC. (TSX Venture: YWO - News) is pleased to announce that ongoing drilling at its 100% owned High Lake Property in Nunavut, Canada continues to extend mineralization. The highlight to date is Hole No. HLW-208, which intersected two copper zones at the southern end of the B-Zone (one zone - assays pending). 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.
Hole No. HLW-203 intersected 17.45 meters of mainly pyrrhotite mineralization down dip and south on the B-Zone. Hole No. 204 intersected the down-dip extension of the B-Zone and Hole No. 208 is partial results for the first hole drilled in the south end of the B-Zone during the current program. Ongoing drilling continues to intersect base metal mineralization and both zones remain open for expansion. The following table summarizes the results of five of the first eight holes:
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
B-FW 240.45-249.15
HLW-202* Upper 2+80S-4+60W 62 90 181.35-185.00
D-Zone 212.00-240.30
D-FW 240.30-255.25
HLW-203 B-Zone 4+34N-7+00W 66 96 241.35-242.35
HLW-204 B-Zone 4+34N-7+00W 65 87 261.60-264.60
B-Zone 272.80-288.90
HLW-208 B-Zone 3+80N-5+55W 55 90 101.00-125.45
Including 113.75-124.30
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
8.70 1.17 Tr. 0.51 15.25
HLW-202* 3.65 1.85 2.57 1.32 51.99
28.30 2.38 6.59 0.36 34.68
14.95 2.26 2.11 0.15 21.52
HLW-203 1.00 4.64 0.41 3.77 155.00
HLW-204 3.00 2.93 Tr. 0.20 65.63
16.10 3.52 Tr. 0.37 41.72
HLW-208 24.45 7.06 Tr. 0.31 18.57
10.55 14.32 Tr. 0.53 34.47
* Previously released FW - Footwall Assays by Accurassay
Mineralization Laboratories, Thunder
Bay, Ontario
Massive and semi-massive sulphides of varying widths have been intersected in holes 205, 207, 210 and 211. Further assays are pending from Hole No. 208.
Wolfden is currently expanding its land position in the High Lake area and is considering expanding the current program to explore the potential of the entire belt. In addition, Wolfden has acquired by staking three gold properties in northwestern Ontario: the Narrow Lake Property in the Red Lake Mining District, the Rapson Bay Property located along strike and on the geological extension of the Monument Bay (Bema Gold - Wolfden joint venture) stratigraphy in Ontario, and the Sor Lake Property in the Patricia Mining District.
Wolfden is a Canadian based mineral exploration and development company engaged in the exploration of economic mineral deposits. |
