Wolfden Resources Corporation
Wolfden Resources Corporation is a mineral exploration company exploring the Rice Island and Nickel Island properties in Manitoba. Manitoba is ranked #6 in Canada and #19 in the world, as the most favourable jurisdiction to conduct mining and exploration (Fraser Institute (2015-2016).The Company also holds a dominant over 24,000 hectare land position in the heart of the Bathurst Mining Camp, in northeastern New Brunswick.
Wolfden's core projects are located close to infrastructure in the prolific Snow Lake-Flin Flon greenstone belt in Manitoba and in the Bathurst Mining Camp of northern New Brunswick. HudBay (Lalor Zn-Au-Cu mine, Manitoba) and Trevali (Caribou Pb-Zn-Ag mine, New Brunswick) have operations and mineral processing facilities close to Wolfden's core projects.
Management have a proven track record in mineral discovery, exploration and finance and have been directly involved in several base and precious-metal discoveries in North America, over the last 20 years.
(1) Rice Island Property, Manitoba (100%-owned)
The consolidated Rice Island property comprising 2,611 hectares, includes the Rice Island property (RIP) and the Rice Island Tie-On property (RITOP). It is located within the well-established mining district of Snow Lake. Hudbay's Stall Lake concentrator is located 6 kilometres north of the Rice Island property.
The Rice Island property contains the Rice Island nickel-copper-cobalt deposit. The Rice Island deposit defined over a 500-metre strike length and to a depth of 500 metres (open along-strike and to depth). It was last drilled by Inco in 1948, 1949 and 1967.
Wolfden's drilling during 2015 and 2016 (6,676 metres in 29 drill holes) confirmed historical deposit grades, returned high-grade intersections of 3.29% Ni, 1.32% Cu and 0.13% Co over 12.40 metres,3.83% Ni, 1.33% Cu and 0.175% Co over 9.90 metres at the Main Zone and uncovered a new discovery known as the New Lower Zone, returning 2.42% Ni, 1.29% Cu and 0.16% Co over 21.10 metres. There is excellent potential to enlarge the historical deposit and to find additional new deposits elsewhere on the property.
Wolfden's drill holes located at the southwest extremity of Rice Island returned results including 2.57% Ni, 1.07% Cu and 0.08% Co over 17.4 metres and 1.14% Ni, 0.70% Cu and 0.06% Co over 14.1 metres.
Borehole EM and Fixed-Loop EM surveys completed in the immediate locale of the Rice Island deposit, offer excellent targets for the discovery of additional satellite nickel-copper deposits. A property-wide VTEM airborne geophysical survey revealed several geophysical targets elsewhere on the property with a signature with that of the historic Rice Island deposit.
(2) Nickel Island Property, Manitoba (100%-owned)
Located in east-central Manitoba, the Nickel Island property is host to known nickel-copper mineralization last explored by Inco Ltd. in 1957 and 1958. Historic drilling completed at that time, returned significant nickel-copper mineralization over a minimum one (1) kilometre strike length, including 4.33% Ni over 4.50 metres and 1.18% Ni over 21.34 metres. Geological evidence is suggestive of the presence of 'Kambalda-style' of nickel-copper mineralization on the Nickel Island property.
Two large areas of exploration interest defined by Wolfden's airborne geophysical survey
(3) Tetagouche Property, New Brunswick (100%-owned)
The Tetagouche property (>24,000 hectares) contains 6 historic volcanic-hosted massive sulphide deposits in the heart of the Bathurst Mining Camp, proximal to the Trevali's Caribou mill. Excellent upside potential to discover additional deposits exists on the property.
(4) Clarence Stream Property, New Brunswick (100%-owned)
This advanced-staged property contains the Clarence Stream gold-antimony deposit. It contains a 43-101 compliant mineral resource of 500,000 ounce of gold at a grade of 6.5 g/t Au. Significant exploration upside exists for expanding the mineral resource.
WLF recently optioned the property to a third party; WLF to receive cash payments of C$3.25 Million over a 3-year period in order for optioner to earn 100% interest in the property; WLF retains 1.00% NSR that optioner can purchase at any time for C$2.00 Million.
Management and Directors
Ewan Downie, Chairman & Director
Currently President and CEO of Premier Gold Mines Limited
Founded the original Wolfden Resources Inc. and served as its President & CEO from 1995 to 2007; acquired by Zinifex for $360M
2003 ‘Bill Dennis Prospector of the Year Award' for Wolfden's discovery of the West Zone on the High Lake Project in Arctic Canada
Donald Hoy, President, CEO & Director
Most recently VP Exploration and Development for Cliffs Natural Resources Inc.
VP Exploration for Freewest Resources Canada Inc. which was acquired by Cliffs Natural Resources Inc. in 2009 for $240M
2009 'Bill Dennis Prospector of the Year Award' for Freewest's discovery of the world-class Black Thor chromite deposit located in the Ring of Fire area of Northern Ontario
Lance Dyll, CA, Chief Financial Officer
Over ten years of finance experience
Currently CFO of Source Exploration Corp. and Director of Operations for the Alyris Group
Shaun Drake, Corporate Secretary
President of Drax Services Limited, and is Secretary to several reporting issuers including Premier Gold Mines Ltd., PC Gold Mines, Mega Precious Metals Inc. and Source Exploration Corp.
Thomas Quigley, Director
David Brown, Director
Daniel Mechis, Director
On January 18, 2017, Wolfden Resources Corp. announced that it has completed a previously announced non-brokered private placement of 3.5 million flow-through units at a price of 13.5 cents per flow-through unit for gross proceeds of $472,500. The proceeds for the offering will be used for exploration on the Company's projects in Canada.
On January 9, 2017, Wolfden Resources Corp. announced that it intends to complete a non-brokered private placement of up to 3.5 million flow-through units at a price of 13.5 cents per flow-through unit for gross proceeds of up to $472,500. The proceeds for the offering will be used for exploration on the Company's projects in Canada.
On January 3, 2017, Wolfden Resources Corp. announced that it has acquired the Orvan Brook property, containing the Orvan Brook Cu-Pb-Zn-Ag-Au (copper-lead-zinc-silver-gold) massive sulphide deposit. The 100-per-cent-owned property (12 claim units comprising 261 hectares) acquired by claim staking, is located in the prolific Bathurst mining camp, approximately 35 kilometres west of the city of Bathurst and 16 kilometres northeast of Trevali Mining Corp.'s Caribou mine and milling facility.
The most recent drilling at Orvan Brook (Noranda Mining and Exploration Inc. in 1995), returned intercepts including 0.44 per cent copper, 2.31 per cent lead, 7.37 per cent zinc and 89.20 grams per tonne silver over 5.62 metres and 0.28 per cent Cu, 2.85 per cent Pb, 8.16 per cent Zn and 82.9 g/t Ag over 5.47 metres. The deposit contains a historic resource of 2.69 million tonnes grading 0.37 per cent Cu, 1.73 per cent Pb, 5.95 per cent Zn, 72.0 g/t Ag and 0.9 g/t Au.
The Company is preparing updated longitudinal sections of the Orvan Brook deposit, in preparation for an initial diamond drilling program anticipated to commence in the winter of 2017.
On December 16, 2016, Wolfden Resources Corp. announced that it had completed a previously announced non-brokered private placement of 3.5 million flow-through units at a price of 10 cents per flow-through unit for gross proceeds of $350,000.
The Company has commenced ground geophysical surveys (fixed-loop electromagnetics) on its Rice Island property. The survey is intended to help refine drill targets testing for the southwest extension of the Rice Island nickel-copper-cobalt deposit.