WLF-V steppin' upwards.
Oct 31, 2013 - News Release
Wolfden Resources Corp. has provided an exploration update on its 100-per-cent-owned Armstrong Brook property.The Armstrong Brook property contains a number of high-grade polymetallic volcanic-sediment-hosted massive sulphide prospects (VSHMS) located in the well-established Bathurst mining camp of northeastern New Brunswick. The property is situated approximately 15 kilometres northwest of the Brunswick No. 12 zinc-lead-copper-silver-gold deposit, one of the world's premier massive sulphide deposits having produced zinc, lead, copper, silver and gold over a mine life of about 60 years.
Massive sulphide boulders believed to be close to bedrock source
Over the latter part of the 2012 and the current 2013 exploration programs, a total of nine major clusters of massive sulphide boulders were discovered and sampled on the property, namely VMS valley 1 through VMS valley 9 (see Wolfden news releases dated March 20, 2013, May 30, 2013, and July 8, 2013). The boulder clusters are widespread, occurring in an area of the property with dimensions of at least 20 square kilometres. All of the boulder clusters contain, at least in part, high-grade values in zinc, lead, copper, silver and gold.
Donald Hoy, Wolfden's president and chief executive officer, said: "We are excited to initiate the first diamond drill campaign on our flagship Armstrong Brook project. Our expectations are positive based on our compelling work to date and on the high prospectivity of the Bathurst camp. The results of this inaugural drill campaign will help us further refine our understanding of the project and guide us in choosing our next set of targets."
A diamond drill will be mobilized to the Armstrong Brook property by the end of this week. A first-phase diamond drilling program, anticipated to be a minimum of 2,500 metres, will test the highest-priority targets. Results from the drilling will be released as they become available.
Background and historical work
The geological evidence accumulated to date is strongly suggestive of a local bedrock source for the numerous boulder clusters. All of the boulder clusters occur adjacent or close to the contact between sedimentary rocks of the Millstream formation and overlying mafic volcanic rocks of the Sormany formation. Proximal to this contact, where the massive sulphide boulders occur, the sediments are altered (silicified and pyritic), and outcrops of altered felsic volcanic rocks have also been identified. Collectively, these features suggest the potential for a local occurrence of a favourable horizon for massive sulphides within the sediments, below the mafic volcanics in a sedimentary-exhalative-type setting.
Over the last several months, a follow-up program of line cutting, geological mapping and ground geophysics were undertaken to create a detailed database to correlate with the high-grade boulders and to assist in defining drill targets. In all, a total of 100 kilometres of survey lines were cut (covering all of VMS valleys 1 through 9), followed by horizontal-loop electromagnetic (max-min), total field magnetic and gravity surveys. Currently, the max-min and magnetic survey have been completed and results obtained, whereas the gravity survey is still continuing. It is anticipated that the gravity survey will be completed by the end of October with results in the company's hands shortly thereafter.
Survey results and priority targets
Based on the data received to date, three target areas have emerged as priority targets that will be drilled over the next four weeks. VMS valley 5 (located in the northwestern portion of the property) contains high-grade massive sulphide boulders discovered over an intermittent one-kilometre strike length. Such boulders assay up to 14.2 per cent Zn, 6.1 per cent Pb, 1.2 per cent Cu, 251 grams per tonne Ag and 1.8 g/t Au. A prominent, linear-shaped residual gravity anomaly (amplitude 0.8 milligal to 1.0 milligal) is situated up ice and upslope, 350 metres to the west of the massive sulphide boulders. One massive sulphide boulder is located within the confines of the gravity anomaly itself. The gravity anomaly is also semi-coincident with a moderate-strength max-min electromagnetic anomaly and a circular-shaped magnetic anomaly.
An additional high-priority target is VMS valley 7 consisting of one major massive sulphide boulder cluster and three smaller massive boulder clusters, occurring in an area measuring 100 metres by 50 metres. The largest cluster returned bonanza-grade mineralization yielding combined zinc plus lead values of 14.6 per cent as the lowest assay and 28.2 per cent as the highest assay. These samples comprise angular banded massive sphalerite-galena-pyrite boulders, the largest of which is approximately 50 kilograms in weight. A moderate-strength conductor defined over at least 300 metres by the max-min survey (440 hertz) occurs 50 metres to 75 metres to the west of the boulder cluster. Gravity results have not yet been received from VMS valley 7.
Several boulders were discovered at VMS valley 8, in the central portion of the property, an additional high-priority target. Boulders at VMS valley 8 yield assays as high as 13.4 per cent Zn, 7.3 per cent Pb, 2.9 per cent Cu, 319 g/t Ag and 2.5 g/t Au. A prominent cluster occurring proximal to the contact between sediments and mafic volcanics is intimately associated with a moderate-strength max-min anomaly (440 hertz) occurring over a minimum 300-metre strike length. VMS valley 8 is also the locale where in situ books or sheets of massive sulphide have been discovered within altered sedimentary rocks. Gravity results from VMS valley 8 have yet to be received.
The technical information in this news release has been reviewed and approved by Donald Hoy, PGeo, the chief executive officer, president and a director of the company. Mr. Hoy is a qualified person under National Instrument 43-101.
We seek Safe Harbor. |
