Wolfden Resources (WLF-V) April 12, '16 today announces the remaining assay results obtained from their winter drilling program recently completed on the Rice Island property. The 100%-owned Property is located 10 kilometres south-southeast of the Town of Snow Lake, in west-central Manitoba.
RICE ISLAND DRILL RESULTS:
The winter drilling on the Property totalled 1,445 metres, comprising a total of eight holes. Seven holes (RI-16-20 to RI-16-26) tested the New Lower Zone as well as the Main Zone at Rice Island and a single drill hole (SB-16-01), tested a regional target located 6 kilometres northeast of Rice Island. Results for the first four drill holes were announced in Wolfden's news release dated March 22, 2016; the purpose of this news release is to document the remaining assay results.
Highlighting the remaining results, is a wide zone of nickel-copper sulphides obtained in drill hole RI-16-25, assaying 1.62% nickel, 0.86% copper and 0.09% cobalt over a core length of 52.1 metres. Included within this broad zone of mineralization is the Main Zone, yielding 3.29% nickel, 1.08% copper and 0.09% cobalt over 6.3 metres as well as the New Lower Zone, assaying 2.42% nickel, 1.29% copper and 0.16% cobalt over 21.10 metres.
Immediately underlying the New Lower Zone on this and adjacent drill sections, is a strong conductor delineated by both the VTEM airborne geophysical survey as well the ground-based, fixed-loop EM survey, completed earlier by the Company. These anomalies in combination with this drill intercept, auger well for further expansion of high-grade nickel-copper mineralization comprising the New Lower Zone.
Drill holes RI-16-23 and 24 also yielded significant intercepts from the Main zone assaying 1.29% nickel, 0.68% copper and 0.05% cobalt over 11.20 metres and 3.44% nickel, 1.91% copper and 0.12% cobalt over 1.30 metres, respectively. A summary of the significant drill results are tabulated below:
Hole No.
| Coordinates
| Dip
| Azimuth
(degrees)
| From (m)
| To (m)
| Interval
(m)
| Ni (%)
| Cu (%)
| Co (%)
| Comments
| RI-16-23
| 6074692, 440818
| -57
| 302
| 57.60
| 91.60
| 34.00
| 0.77
| 0.65
| 0.04
| Main Zone
|
|
|
|
| incl. 57.60
| 68.60
| 11.20
| 1.29
| 0.68
| 0.05
|
|
|
|
|
| that incl. 57.60
| 59.90
| 2.30
| 2.51
| 0.81
| 0.09
|
|
|
|
|
| & 78.60
| 91.60
| 13.00
| 0.70
| 0.75
| 0.03
|
|
|
|
|
| Incl. 89.60
| 91.60
| 2.00
| 1.42
| 0.87
| 0.08
|
| RI-16-24
| 6074692, 440818
| -45
| 302
| 59.40
| 81.60
| 22.20
| 0.65
| 0.70
| 0.03
| Main Zone
|
|
|
|
| Incl. 59.40
| 60.70
| 1.30
| 3.44
| 1.91
| 0.12
|
|
|
|
|
| & incl. 80.20
| 81.60
| 1.40
| 1.50
| 1.17
| 0.06
|
| RI-16-25
| 6074691, 440868
| -55
| 302
| 85.30
| 137.40
| 52.10
| 1.62
| 0.86
| 0.09
| Main & New Lower
Zones
|
|
|
|
| incl. 85.30
| 91.40
| 6.10
| 3.29
| 1.08
| 0.09
| Main Zone
|
|
|
|
| and incl. 106.60
| 127.70
| 21.10
| 2.42
| 1.29
| 0.16
| New Lower Zone
|
|
|
|
| & 135.60
| 137.40
| 1.80
| 3.34
| 1.17
| 0.15
|
|
Note 1: True widths are estimated at 70-90% of core width
|
| Note 2: Sample analyses performed by Actlabs Ltd. of Thunder Bay, Ontario utilizing the 4 Acid ICP-OES method; a 0.25 g sample
is digested with hydrofluoric acid followed by a mixture of nitric and perchloric acid; the sample is then dried and brought back into
solution using aqua regia; the sample is then analyzed using Agilent 735 ICP instrumentation
|
All of the data generated from Wolfden's drilling completed to date in 2015 and 2016 will be compiled and will be modelled in three dimensions. The purpose of the modelling will be help to guide future drilling programs in efforts to expand both the Main Zone and New Lower Zones. Such drilling is anticipated for the summer of 2016.
Rice Island is well situated proximal to the established mining communities of Flin Flon and Snow Lake and approximately 5 kilometres from HudBay Minerals' Snow Lake concentrator. The area offers access to power, labour force, supplies and mineral processing facilities. Proximity to such infrastructure will enable the Company to explore the Property year-round.
ABOUT WOLFDEN RESOURCES:
Wolfden is a mineral exploration company that recently acquired the Rice Island and Nickel Island properties in Manitoba. Manitoba is ranked #6 in Canada and #19 in the world as the most favourable jurisdiction to conduct mining and exploration (Fraser Institute (2015-2016).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. My Hoy is also a Qualified Person under National Instrument 43-101.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the accuracy and adequacy of this news release.
SOURCE Wolfden Resources Corporation
Image with caption: "Wolfden Resources Corporation (CNW Group/Wolfden Resources Corporation)". Image available at: http://photos.newswire.ca/images/download/20160412_C8087_PHOTO_EN_662290.jpg
 Donald Hoy, President and CEO,
Wolfden Resources Corporation,
Tel: (807) 624-1131,
Email: dhoy@wolfdenresources.com |
