Wolfden Resources (TSXV:WLF) has begun a 2,300-metre, six-to-eight hole diamond drilling program at its 100%-owned Rice Island nickel-copper-cobalt-platinum group deposit near Snow Lake, Man. The work is being done with the support of a $230,000 grant from the Manitoba government's Mineral Development Fund.
The Rice Island sulphide deposit is comprised of a 'keel' of higher grade mineralization that returned 14.7 metres grading 3.63% nickel, 1.13% copper, 0.12% cobalt (5-metre true width) and a 'feeder dyke-type' zone that returned 21.1 metres of 2.4% nickel, 1.3% copper and 0.16 g/t PGE (10.6-metre true width.
The Keel zone remains open down-plunge while the Feeder zone is open along strike and at depth. The program will test for down-plunge extensions to the keel mineralization, extensions of the feeder dyke-type nickel-enriched mineralization, and nearby conductive electromagnetic (EM) targets associated with magnetic highs that have not been previously tested.
The Rice Island deposit was previously drilled by Inco in the middle of the Twentieth Century. The historical inferred mineral resource (non 43-101 compliant) stands at 5.5 million tonnes at a grade of 1.1% nickel, 0.7% copper and 0.07% cobalt.
Wolfden's Rice Island property comprises 2,611 hectares located in the Snow Lake-Flin Flon greenstone belt of northern Manitoba. Mineralization occurs at the base contact of a northeast striking, steeply plunging gabbroic intrusion and underlying sedimentary rocks. The property is five kilometres from Hudbay's Snow Lake concentrator.