Wolfden Announces Positive Drill Results at Orvan Brook Property

THUNDER BAY, ON, Feb. 19, 2019 /CNW/ - Wolfden Resources Corporation (WLF.V) ("Wolfden" or the "Company") is pleased to report encouraging assay results from a diamond drill program completed on its 100%-owned Orvan Brook property near Bathurst New Brunswick. The property is well-located proximal to existing infrastructure and only 15 kilometres from the Caribou (Zn-Pb-Ag) mine, owned and operated by Trevali Mining Corporation.

Complete Drill Core Assay Results

A total of ten drill holes comprised of 2,649 metres were completed in late 2018. Four of the holes were on the West Lens and six on the East Lens (see Longitudinal Section). Highlights of the results from the West Lens, include 4.40 metres grading 7.18% Zn, 2.78% Pb, 0.10% Cu, 68.40 g/t Ag and 0.76 g/t Au (12.14% ZnEq, OB-18-30) and 3.25 metres grading 6.76% Zn, 3.19% Pb, 0.11% Cu, 76.30 g/t Ag & 0.55 g/t Au (11.94% ZnEq, OB-18-27).

"The widths and grades of these holes as well as previous neighbouring intercepts are similar to those at the Caribou Mine deposit and are indicative of the potential to develop a significant massive sulphide lens at a shallow depth," said Don Hoy, SVP of Exploration for the Company.  "Similarly, the East Lens offers potential to develop a significant mineral resource at depth. Additional drilling is warranted on both lenses to determine the limits of the massive sulphide mineralization."

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 and copper utilizing sodium peroxide fusion, 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 is analyzed by fire assay with gravimetric finish (Code 8-Ag).

About Wolfden

Wolfden is a Canadian exploration and development company primarily focused on advancing its 100%-owned Pickett Mountain Project in Maine, USA. The 6,800 acre Project is host to a high-grade (Zn, Pb, Cu, Ag) zinc-rich, volcanogenic massive sulphide deposit that is close to excellent infrastructure and includes the land and all rights to minerals and timber, without any historic or aboriginal encumbrances. With a mineral resource of 2.05 Mt at 19.3% ZnEq of indicated resources and 2.03 Mt at 20.6% ZnEq of inferred resources, the Company plans to expand resources with further drilling and complete sufficient exploration, definition drilling and various technical studies in order to demonstrate the economic potential for an underground mining scenario on the Project.  For further information on the project, see technical report entitled "National Instrument 43-101 Technical Report, Pickett Mountain Project Resource Estimation Report, Penobscot County, Maine, USA" dated January 7, 2019. 

The information in this news release has been prepared, reviewed and approved by Don Hoy, P.Geo., SVP Exploration and Ron Little P.Eng., President and CEO, who are Qualified Persons' under National Instrument 43-101. 

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, statements relating to: (1) the timing and definition of sufficient mineralization, the development of significant resources or the completion of a mineral resource estimate on the Orvan Brook property, plans and results of exploration and the magnitude and quality of the property, and (2) information about future activities at the Pickett Mountain Project that include plans to expand resources with further drilling and complete sufficient exploration, definition drilling and various technical studies in order to demonstrate the economic potential for an underground mining scenario on the Project . 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

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