Wolfden Announces Positive Second Phase Drill Results at Orvan Brook, NB

2018-03-20 / @newswire

Deepest intersection yields 10.2% Zn, 3.2% Pb, 0.4% Cu 126 g/t Ag and 0.5 g/t Au over 4.1 m

THUNDER BAY, ON, March 20, 2018 /CNW/ - Wolfden Resources Corporation (WLF.V) is pleased to report the remaining results from diamond drilling completed in late 2017, on its 100%-owned Orvan Brook property. The property is well-located proximal to infrastructure, 35 miles west of the City of Bathurst and 15 kilometres east-northeast of Trevali Mining Corporation's Caribou mine and mill facility, in the Bathurst Mining Camp of northeastern New Brunswick.

Orvan Brook Property - Longitudinal Section - Contoured Grade Thickness Values of (Pb + Zn) x Width (m) (CNW Group/Wolfden Resources Corporation)

Second Phase Drill Results

Hole ID	From (m)	To (m)	Length (m)	Zn%	Pb%	Cu%	Ag (g/t)	Au (g/t)	Zn Equivalent
OB-17-15	271.10	273.40	2.30	7.86	3.02	0.10	85.90	0.32	11.96
OB-17-16	337.20	339.50	2.30	4.95	1.87	0.39	64.20	0.78	9.01
OB-17-17	303.90	306.80	2.90	7.39	2.58	0.59	128.40	1.13	13.77
OB-17-19	147.20	147.50	0.30	0.00	0.00	0.04	0.70	0.02	0.11
OB-17-20	224.70	225.70	1.00	12.20	3.87	0.55	169.00	0.51	19.31
OB-17-21A	337.90	342.00	4.10	10.18	3.22	0.44	125.50	0.54	15.97

Zn equivalent based on US$1.59/lb. for Zn, US$1.16/lb for Pb, US$3.15/lb. for Cu, US$16.61/g for Ag & US$42.82/g for Au

Hole OB-17-18 was not completed with drill rods stuck before intersecting the zone.

A total of seven drill holes comprising 2,629 metres were completed during the second phase of drilling. Five of the holes were completed on the West Lens and 2 on the East Lens (holes 18 and 21A) (see Figure 1 Longitudinal Section). The results confirm the grade and width of nearby historical drill holes containing appreciable base-metal values over significant widths such as hole ORB95-3 with 8.2% Zn, 2.9% Pb, 0.3% Cu & 83 g/t Ag over 5.5 metres and hole ORB95-5 with 7.4% Zn, 2.3% Pb, 0.4% Cu & 89 g/t Ag over 5.6 metres). Collectively, the widths and grades of these holes are similar to those at the Caribou mine and are indicative of a massive sulphide lens. Both lenses remain open at depth and along strike and warrant further drilling for potential resource expansion.

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 focused on advancing its wholly owned high-grade (Zn, Pb, Cu, Ag) VMS Pickett Mountain Project in Maine, USA. Located close to excellent infrastructure, the company plans to complete sufficient exploration, definition drilling and various technical studies in order to demonstrate the economic potential for an underground mining scenario on the Project.

The information in this news release has been prepared and approved by Donald Hoy, M.Sc., P. Geo., President and CEO, who is a Qualified Person 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 the timing and definition of sufficient mineralization for 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. 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.

Wolfden Resources Corporation (CNW Group/Wolfden Resources Corporation)

SOURCE Wolfden Resources Corporation

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