Wolfden Resources (WLF-V) Feb 24, '16 today announces that diamond drilling has resumed on the Company's 100%-owned Rice Island property (the "Property"), located approximately 10 kilometres southeast of the Town of Snow Lake in west-central Manitoba. Drilling by the Company in 2015 at Rice Island yielded extremely encouraging results; confirming the grade and configuration of the Main Zone defined in historic drilling and resulted in a new discovery, known as the New Lower Zone (see Wolfden news releases dated October 26, 2015, November 17, 2015, December 16, 2015 and January 19, 2016 for details of prior drill results).
Drilling efforts in the coming weeks will focus on testing the extent of the New Lower Zone (NLZ) where recent Wolfden drilling returned 2.48% Ni and 0.79% Cu over 15.60 metres (RI-15-01), 3.97% Ni and 0.95% Cu over 4.60 metres (RI-15-05), 1.14% NI and 0.70% Cu over 14.10 metres (RI-15-13) and 1.07% Ni and 0.83% Cu over 6.1 metres (RI-15-14). Efforts will also be undertaken at expanding the Main Zone (MZ) where Wolfden drilling encountered 3.29% Ni and 1.32% Cu across 12.40 metres (RI-15-15)1. The NLZ and MZ are thought to be components of a conduit or feeder system, in which channelling magmatic fluids have deposited nickel-copper mineralization at multiple sites.
Drilling will also be undertaken at a high-priority target situated 5 kilometres northeast of the Rice Island deposit, comprising a coincident conductor and magnetic high defined by the airborne VTEM survey. This VTEM anomaly has a similar geophysical signature to that of the Rice Island nickel-copper deposit. Drilling results will be released as they become available.
1 True widths are estimated at 70-90% of core width
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company that recently acquired the Rice Island and Nickel Island properties in Manitoba. Manitoba is ranked #2 in Canada and #4 in the world as the most favourable jurisdiction to conduct mining and exploration (Fraser Institute (2014-2015).The Company also holds a dominant, 24,000 hectare, land position in the heart of the Bathurst Mining Camp in New Brunswick and a 100% interest in the Clarence Stream gold-antimony property in southern New Brunswick that hosts a significant 43-101 mineral resource.
The technical information in this news release has been prepared and approved by Donald Hoy, P. Geo., President, CEO and a director of the Company. Mr. Hoy is also a Qualified Person under National Instrument 43-101.
SOURCE Wolfden Resources Corporation
Donald Hoy, President and CEO,
Wolfden Resources Corporation,
Tel: (807) 624-1131,
Email: dhoy@wolfdenresources.com |
