Canada markets closed
  • S&P/TSX

    19,078.64
    -144.10 (-0.75%)
     
  • S&P 500

    3,818.83
    -2.72 (-0.07%)
     
  • DOW

    31,029.31
    +82.32 (+0.27%)
     
  • CAD/USD

    0.7765
    +0.0009 (+0.11%)
     
  • CRUDE OIL

    109.90
    +0.12 (+0.11%)
     
  • BTC-CAD

    25,835.88
    -472.27 (-1.80%)
     
  • CMC Crypto 200

    430.51
    -9.15 (-2.08%)
     
  • GOLD FUTURES

    1,821.30
    +3.80 (+0.21%)
     
  • RUSSELL 2000

    1,719.37
    -19.47 (-1.12%)
     
  • 10-Yr Bond

    3.0930
    -0.1130 (-3.52%)
     
  • NASDAQ futures

    11,650.25
    -40.75 (-0.35%)
     
  • VOLATILITY

    28.16
    -0.20 (-0.71%)
     
  • FTSE

    7,312.32
    -11.09 (-0.15%)
     
  • NIKKEI 225

    26,540.19
    -264.41 (-0.99%)
     
  • CAD/EUR

    0.7425
    0.0000 (0.00%)
     

Wolfden Announces Silver Exploration Results

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·10 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Drill results include 496 g/t AgEq over 5.3 metres and 866 g/t AgEq over 2.0 metres

THUNDER BAY, ON / ACCESSWIRE / April 11, 2022 / Wolfden Resources Corporation(TSX-V:WLF.V) ("Wolfden" or the "Company") is pleased to provide the exploration results from its fall exploration program at its California Lake Project in New Brunswick. Drilling included 9 holes in some 1,368 metres across five target areas. The objective of the program was to test new drill targets and the potential to expand a couple of known silver-gold zones. This work discovered and confirmed the presence of five silver-gold-base metal zones and suggests the potential to add to them. The Company holds the mineral rights to a land package of 127 square kilometres in this portion of the Bathurst Greenstone Belt in New Brunswick.

Highlights of the drill results include:

  • 496 g/t AgEq over 5.3 metres1from 47.7 metres in hole CL-21-01

  • 866 g/t AgEq over 2.0 metres1from 108 metres in hole CL-21-02

  • 160 g/t AgEq over 3.1 metres1from 95.8 metres in hole CL-21-04

  • 563.2 g/t AgEq over 0.5 metres from 21.5 metres1 in hole W-21-01

True widths are estimated at 80-90% of hole length shown with exception of W-21-01, where estimated true width is unknown. Silver Equivalent grades (AgEq) was calculated using metal prices of $20/oz silver, $1.25/lb zinc and $1.00/lb lead. AgEq = Ag g/t + (Zn% x 42.8) + (Pb% x 34.2). No assumed metallurgical recoveries were included in the AgEq calculation as no metallurgical testing has been completed to date.

Wolfden is targeting large scale, breccia type, epithermal silver-gold-base metal deposits in New Brunswick (and Maine). The California Lake deposit is the largest of its kind discovered to date in the province and is comprised of more than seven northeast-trending mineralized structures that have been traced for 1,000 metres along strike and to 150 metres depth. The deposit is open along strike and to depth and is situated at the southwest end of a 17-kilometre trend of epithermal-style precious and base metal mineralization.

"The high silver equivalent grades within the 17-kilometre trend are quite compelling and with more than five untested kilometre-long soil anomalies, there remains the potential to discover additional mineralized zones and preferably the centre of gravity of the epithermal systems." stated Don Dudek, VP Exploration for Wolfden. "The next program will include trenching and drilling of these targets and to consider the open-pit potential of the combined near surface mineralization."

Technical Details

During the fourth quarter, Wolfden completed nine drill holes totalling 1,368 metres (Figure 1). As part of the preparation for this program, Wolfden compiled historic exploration data, modelled the known silver zones, collected 1,130 soil samples, 397 of which are being analyzed now, excavated 1,194 linear metres of trenches and completed 42-line kilometres of Induced Polarization (IP) geophysical surveys.

The soils surveys validated several geochemical anomalies and defined several new anomalous zones. IP geophysical surveys show good resistivity, and selective chargeability correlation with the mineralized zones. Additional IP surveys are warranted in 2022.

All 2021 holes intersected structurally controlled epithermal-style silver-gold-base metal mineralization within northwest- to northerly-trending, structurally controlled breccia zones and banded open-space veins that are often bound by a halo of mineralized fractures, and associated alteration, in felsic volcanics (see Figure 2) and felsic intrusions. A summary of drill intercepts is presented in Table 1.

Figure 1. Drill hole plan map, significant results, regional geology, anomalous soil trends, Wolfden claims

Figure 2. 900.1 g/t AgEq over 0.63 m in hole CL-21-04

Four of the holes were drilled into the California Lake Zone with the holes intersecting from 2 to 7, parallel, moderate-northeast-dipping zones of epithermal mineralization with a best intercept of 496.4 g/t AgEq over 5.3 metres in hole CL-21-01 from 47.7 metres (Figure 3). The California Lake Zone has been traced for 1,000 metres along strike to approximately 150 metres depth and returned assays to 7,895 g/t AgEq over 0.1 metres (0.08 m true thickness). This mineralized system remains open to depth and along strike.

Figure 3. California Lake Zone cross-section

Holes FM-21-01, FM-21-02 and BL-21-01 (see Figure 1 for locations), were drilled to test coincident IP anomalies and soil anomalies. All three holes intersected narrow zones of epithermal mineralization with a best intercept of 48.6 g/t AgEq over 1.3 metres (true width unknown) in hole FM-21-02. An 800 metre by 400 metre zone of silver-enriched soils occurs north and east of FM-21-02, suggesting potential for additional silver-gold zones. Since these drill holes only tested one spot on kilometre scale geophysical and geochemical targets, additional testing of the structures is likely warranted.

One hole, W-21-01, was drilled to test the Woodside Brook Zone, which historically returned 0.7 g/t Au and 347 g/t Ag over 0.9 metres (true width unknown). This compares well to Wolfden's hole which returned 0.46 g/t Au and 501 g/t Ag over 0.52 metres. This zone appears to be open to the southeast.

One hole, CZ-21-01, was drilled to test the Carroll Zone. Historic trenches over this zone returned up to 8 metres at 61 g/t Ag, 0.34 g/t Au, 0.29% Zn, 0.69% Pb and 359 ppm Sb. CZ-21-01, intersected two, northly-trending, mineralized quartz porphyritic felsic dykes that returned intercepts of 38 g/t AgEq over 7.7 metres and 42.3 g/t AgEq over 3.1 metres. Both dykes displayed stockwork-type, fracture-controlled silver-gold-base metal mineralization throughout the entire felsic dyke units. Soil geochemistry suggests extensions to this zone and parallel zones to the east and west. Trenching and additional holes are planned.

All mineralized intercepts also are related to significantly anomalous arsenic and antimony values, both in soils and in rocks with both elements viewed as clear indications of epithermal style precious and base metal mineralization.

Table 1. Summary of Significant Results

Hole ID

From

To

Length (m)

Ag

g/t

Au

g/t

Pb

ppm

Zn

ppm

Sb

ppm

As

ppm

AgEq

g/t

AgEq

Oz/t

CL-21-01

47.7

53.0

5.3

426.2

0.54

3990

1930

217

6138

496.4

16.0

Includes

51.9

53.0

1.2

1400.0

0.44

5880

1320

405

7100

1465.6

47.1

CL-21-01

73.9

75.9

2.0

24.6

0.34

159

923

47

7475

59.8

1.9

CL-21-01

83.8

84.8

1.0

19.6

0.63

124

438

90

11400

78.7

2.5

CL-21-02

46.0

47.0

1.0

233.0

0.02

184

168

30

763

236.5

7.6

CL-21-02

108.0

110.0

2.0

781.2

0.64

3057

4008

142

14507

866.1

27.8

CL-21-03

112.8

116.0

3.2

8.5

0.09

36

286

12

832

18.3

0.6

Includes

112.8

113.3

0.5

37.4

0.39

158

1420

55

3730

79.1

2.5

CL-21-03

144.6

145.1

0.5

23.9

0.39

485

2090

114

9700

69.4

2.2

CL-21-04

69.8

71.2

1.3

375.4

0.10

1922

4056

57

235

408.2

13.1

Includes

70.6

71.2

0.6

827.0

0.22

4210

9100

117

470

900.1

28.9

CL-21-04

95.8

99.0

3.1

123.4

0.34

491

1103

139

3428

160.1

5.1

Includes

97.1

97.7

0.6

585.0

1.48

1900

3590

598

10200

740.1

23.8

CL-21-04

133.0

138.2

5.2

26.3

0.11

311

1181

39

3548

42.6

1.4

Includes

135.2

138.2

3.0

39.9

0.11

420

1477

46

2944

57.2

1.8

includes

135.2

135.6

0.4

137.0

0.32

398

792

147

7000

170.4

5.5

CL-21-04

151.8

155.0

3.2

24.6

0.35

172

1537

72

5881

63.5

2.0

Includes

151.8

152.4

0.5

69.1

1.24

408

6660

209

18300

210.6

6.8

CL-21-04

189.6

191.4

1.8

4.8

0.50

67

455

52

6642

51.8

1.7

CL-21-04

190.6

191.4

0.8

5.9

0.96

39

687

87

10900

95.6

3.1

CZ-21-01

25.9

33.6

7.7

11.9

0.09

2089

2649

93

7104

38.0

1.2

Includes

25.9

26.4

0.5

34.3

0.12

4190

2700

148

7800

71.0

2.3

CZ-21-01

29.2

32.7

3.5

15.4

0.08

3434

4412

130

7737

53.1

1.7

CZ-21-01

47.4

50.5

3.1

14.4

0.07

3159

2619

137

7446

42.3

1.4

Includes

48.5

49.4

0.9

21.7

0.08

4920

2520

68

10800

56.5

1.8

FM-21-01

92.0

92.3

0.3

2.1

0.06

406

404

11

2810

10.4

0.3

FM-21-02

23.9

25.1

1.3

5.1

0.24

3153

2584

< 5

310

48.6

1.6

W-21-01

21.5

22.0

0.5

501.0

0.46

2840

2600

95

8500

563.2

18.1

BL-21-01

87.7

88.1

0.4

5.2

0.18

381

5070

43

10800

44.8

1.4

True widths are estimated at approximately 80-90% of the reported hole lengths for the CL-, FM- and BL-series holes, 70-75% for CZ-21-01 and unknown for W-21-01.

Wolfden adheres to strict Quality Assurance and Quality Control protocols including routine insertion of blanks and certified reference standards in each sample batch of drill core that is sent to the lab for analyses. Drill core samples are split in half using a diamond saw with one half saved for reference and the other half shipped via secure transport to Activation Laboratories sample preparation facility in Fredericton, New Brunswick. Core samples are analyzed for zinc, lead, copper and silver utilizing 4-acid dissolution followed by ICP-OES (Code 8). Gold is analyzed by fire assay (30 g) utilizing AA finish (Code 1A2) and samples with over 5 g/t are analyzed by fire assay with gravimetric finish (Code 1A3). Silver over 100 g is analyzed by fire assay with gravimetric finish (Code 8-Ag).

Wolfden does not have any QAQC data for the historic drill and trench results at the Woodside, Carrol and Bear Creek Zones.

About Wolfden

Wolfden is an exploration and development company focused on high-margin metallic mineral deposits including base, precious and strategic metals. Its wholly owned Pickett Mountain Project is one of the highest-grade polymetallic projects in North America (Zn, Pb, Cu, Ag, Au) and its two nickel sulphide deposits in Manitoba represent significant development projects with the potential to support the growing battery and EV markets.

For further information please contact Ron Little, President & CEO, at (807) 624-1136 or Don Dudek VP Exploration at (647) 401-9138.

The information in this news release has been reviewed and approved by Don Dudek, P. Geo., VP Exploration and Ron Little P.Eng., President and CEO, both of whom are Qualified Persons' under National Instrument 43-101.

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, metal price assumptions, cash flow forecasts, permit and community approvals, and the timing and completion of exploration programs in Manitoba, Maine, New Brunswick and the respective drill results. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties: (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties; (iv) risks relating to the estimation of Mineral Resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Wolfden Resources Corporation



View source version on accesswire.com:
https://www.accesswire.com/696822/Wolfden-Announces-Silver-Exploration-Results

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting