Wolfden intersects ultramafics at Marathon-McNeely Red Lake
Friday May 12, 12:12 pm ET
<<If you like to play drill results, there are lots of assays pending right now.>>
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THUNDER BAY, ON, May 12 /CNW/ - WOLFDEN RESOURCES INC. (TSX:WLF - News) is pleased to announce that drilling at its Marathon-McNeely Property located in the Red Lake Mining District, Ontario has intersected geological structures and units, not dissimilar to those found at the Campbell and Red Lake Mines. Placer Dome (CLA) Limited ("PDCLA"), recently acquired by GOLDCORP INC. (G:TSX, GG:NYSE), is earning a 50% interest in the Property by funding $2 Million in exploration.
The Marathon-McNeely Property is located immediately west and adjacent to the Campbell and Red Lake Mines, currently being consolidated into one mine by Goldcorp. The DC Zone, currently being mined at Campbell, is located within hundreds of meters of the Marathon-McNeely Property boundary.
Based on a compilation of mine data, a target representing a potential "repetition" of mine stratigraphy was generated and drill tested by the partners - a diagram of this target can be found on the company's web site www.wolfdenresources.com, under the Marathon-McNeely Property. This drilling has intersected altered, silicified and mineralized ultramafic rock units with appreciable quartz-carbonate veining hosted within Balmer Assemblage mafic volcanic rock units. This stratigraphy shares many similarities with the mines and initial assays are expected in the near future.
In addition to Marathon-McNeely, drilling has recently been completed on Wolfden's other Red Lake Projects including the 100% owned Bonanza Property located immediately west of Marathon-McNeely, the East Bay Property (50/50 joint venture with PDCLA), and the Newman-Madsen Property (50/50 joint venture with Sabina Silver). Results of these programs are expected to be released in the near future.
This press release has been reviewed by Mr. Matt Long, P.Geo., who is the qualified person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
WOLFDEN is a Canadian based mineral exploration and development company with a diversified portfolio of advanced stage properties 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, 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. |
