WLF Wolfden Resources Corporation

Drill hole 029 intersects 15.0 m of 14.5% Zn, 5.5% Pb, 1.2% Cu, 156 g/t Ag & 1.0 g/t Au

THUNDER BAY, ON, Nov. 19, 2018 /CNW/ - Wolfden Resources Corporation (WLF.V) (the "Company" or "Wolfden") is pleased to announce additional results from its ongoing infill and expansion drilling at the Company's wholly owned Pickett Mountain Project in northeastern Maine, USA.  The Project represents one of the highest grade zinc-rich, volcanogenic massive sulphide ("VMS") deposits in North America and consists of two primary lenses (East and West) that remain open for expansion.

Drill holes PM-18-028 (East Lens) and 029 (West Lens), both intersected robust zones of high-grade VMS  mineralization as tabulated below.  Horizontal widths for these intersections are equal to 60% of the core length.

Hole 028 intersected the E1 Lens at a vertical depth of 350 metres below surface and returned 19.8% combined Zn+Pb+Cu over 5.0 metres including 3.4 metres at 27.2% combined Zn+Pb+Cu.

Hole 029, a step-out drill hole testing the W1 Lens, cut massive sulphide at a vertical depth of 600 metres below surface, yielding 15.0 metres of 21.1% combined Zn+Pb+Cu including 10.6 metres of 27.7% combined Zn+Pb+Cu. This deep intercept is one of the best to date on the project and correlates well with hole 022 (50 m to the east) that returned 34.7% combined Zn+Pb+Cu over 4.7 metres.

In addition, hole 031 intersected new potential lens of massive sulphide mineralization 150 metres to the north (deeper into the footwall) below the East Lens at a vertical depth of 650 metres.  Visual inspection indicates similar appreciable amounts of zinc, lead and copper sulphide mineralization, as is typical of the East and West lens, over a core length of 2.5 metres. Assay results are pending.     

"This deeper mineralization is a very positive development in terms of adding to the scale at Pickett Mountain", stated Don Hoy SVP Exploration for Wolfden. "The discovery warrants a follow-up program of down-hole EM surveying in order to explore the extent of this potential new lens of massive sulphide mineralization".

The Company is continuing to model the historical and recent drill results in order to generate an updated mineral resource estimate.  Drill results obtained from both the West and East Lenses of the Pickett Mountain deposit can be viewed on an updated vertical longitudinal drill section in the Pickett Mtn. presentation on the Company website.

Quality Assurance / Quality Control

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). 

The information in this news release has been 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.

About Wolfden

Wolfden is a Canadian Exploration and Development Company focused on advancing high-quality polymetallic projects in Canada and it's high-grade (Zn, Pb, Cu, Ag) VMS Pickett Mountain Project in Maine, USA.  Pickett Mountain consists of a wholly owned 6,800 acre property, close to excellent infrastructure, that includes complete ownership of the land and all rights to minerals, timber and access without any historic or aboriginal encumbrances.  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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and United States securities legislation (collectively, "forward-looking information"), including but not limited to information about future drilling activities at the Pickett Mountain Project; the timing and completion of an anticipated mineral resource estimate and technical studies at the Pickett Mountain Project; and the scope of and the anticipated effect of new mining legislation in Maine. This forward-looking information entails various risks and uncertainties that are based on current expectations and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of base metals and minerals generally; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make an underground mineral deposit commercially viable are present; the risks and hazards associated with mineral exploration and mining operations; and the ability of Wolfden to fund its substantial capital requirements and operations. 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 available at www.sedar.com. Readers are urged to read these materials. Wolfden 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 law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Wolfden Resources Corporation