Wolfden Resources posts positive preliminary drill results at its Rockland Gold Project, Nevada

Wolfden Resources Corp. [TSXV: WLF] reported positive partial drill results on its Rockland Gold Project, located in the Walker Lane Trend of Nevada, USA. The program consisted of three drill holes for 1,600 total metres, designed to test below significant historical drill results that ended in mineralization, including 146.4 metres at 1.0 g/t AuEq in hole PG-32 and 85.4 metres at 1.0 g/t AuEq in hole PG-36C.

The first and third holes of the program, REP18 and REP 22, were drilled below holes PG-32 and 36C to test the extent and potential continuation of the broad mineralized zone intersected in hole PG-32. Hole REP22 was a scissor hole, drilled opposite to REP18 and PG-32, in order to better determine the geometry and extent of the mineralized zone.

“We are pleased that holes REP18 and 22 better defined the orientation of the mineralized zone”, stated Ron Little, CEO for Wolfden. “The drilling, particularly the intercept in REP22 strongly suggests that the mineralized zone dips steeply to the east, beyond the end of hole PG-32, having intersected a mineralized interval 100.0 metres between 250.0 and 350.0 metres down hole, and with a preliminary average gold grade similar to that of hole PG-32 from 292.5 to 348.5 metres down the hole. As a result, further drilling is warranted to test for the continuation of the zone down dip to the East and to evaluate the potential for higher-grade feeder zone to this large-disseminated gold system proposed holes P1 and P2).”

Hole REP18, intersected mineralization below and parallel to that intersected in hole PG32, but with a lower tenor than hole 32- this is not unexpected given the distance between holes and the apparent orientation of the mineralized zone relative to that of the drill hole.

Visually, both holes (REP18 and 22) host the same altered flow-banded rhyolite with similar intensities of alteration and abundances of fine-grained sulphide observed in the historical holes (PG-36C and -32. Some study work, including interpretation of hyperspectral data collected, will be undertaken on the core to help determine the mineral associations of the host rhyolite, and perhaps help vector toward mineralization with higher gold grades.

The company’s third drill hole in the program, REP25, was a 300-metre step-out hole drilled to a depth of 572 metres beneath Target Hill. The hole is situated near the NE end of a 1.7km long structural corridor characterized by the presence of altered rhyolite. Target Hill is a highly altered rhyolite dome from which historical drill hole PG30 returned a 315.5-metre zone of alteration and mineralization grading 0.1 g/t AuEq.

Although subeconomic in grade, the broad intercept of anomalous gold with strong alteration suggested strong potential for better grade at depth. Visuals for REP25 indicate that similar intensely altered flow-banded rhyolite carries fine-grained sulphide, like that seen in REP18 and 22. Preliminary results for REP25 indicate that some intervals carry higher gold grades than those intersected in PG30, and although a high-grade feeder was not intersected at depth in this REP25, the results add valuable information to help guide exploration drilling in this area, including a possible scissor hole to test for a steeply westerly-dipping controlling structure.

Assay results remain incomplete in that they do not include analyses for silver, and for elements included in standard multi-element analytical packages. In addition, a number of samples returned results above the 5.0 g/t Au laboratory threshold and are presently being re-assayed to determine final grades.

A few samples also require re-assay in order to pass the QAQC protocol. Given the time frame taken months to receive the results to date, and that expected for the remaining results, the company settled on providing preliminary drill results presented solely in sectional view and will provide detailed tabulated results once final assays and geochemical data are completed.

While awaiting the final geochemical results, the company will determine the potential timing of, and budget for, additional drilling at Rockland, which Wolfden has optioned and in which it can earn up to a 75% interest in. The company believes that it has invested enough in the Rockland Project to date to earn a 51% interest in the project, where only US$500,000 in option payments remain for the company and its optionee partner, Evergold Corp. [TSXV: EVER; WKN: A2PTHZ], to earn an 100% interest.

Wolfden is a North American exploration and development company focused on high-margin metallic mineral deposits including precious, base, and critical metals that represent significant development projects with the potential to produce domestic supply of strategic metals.