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Wolfden acquires the Rice Island nickel-copper deposit, Snow Lake greenstone belt, Manitoba
Wolfden acquires the Rice Island nickel-copper deposit, Snow Lake greenstone belt, Manitob...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"\n\n\n\nWolfden acquires the Rice Island nickel-copper deposit, Snow Lake greenstone belt, Manitoba\n\n\n\n\n\nWolfden acquires the Rice Island nickel-copper deposit, Snow Lake greenstone belt, Manitoba\nCanada NewsWire\nTHUNDER BAY, ON, Sept. 15, 2015\n\n\n\n\n\n\nTHUNDER BAY, ON, Sept. 15, 2015 /CNW/ - Wolfden Resources Corporation (WLF:TSX-V) (\"Wolfden\" or the \"Company\") today announces the acquisition by claim staking, of the Rice Island nickel-copper deposit situated on the Rice Island property (the \"Property\"). The 100%-owned Property consisting of 496 hectares, is located 10 kilometres south-southeast of the Town of Snow Lake in west-central Manitoba. Accordingly, it is well-positioned with respect to infrastructure including power, labour force, access, and mineral processing facilities, provided by the nearby well-established mining communities of Snow Lake and Flin Flon. Proximity to such infrastructure allows the Company to complete exploration on the Property year-round and at reasonable cost.\n\nTHE RICE ISLAND NICKEL-COPPER DEPOSIT:\n\nThe Rice Island nickel-copper deposit was explored by drill programs completed by Inco Ltd. (1949-1950 and 1967). The drilling delineated a magmatic nickel-copper deposit over a strike length of 250 metres and to a maximum vertical depth of 500 metres. Historical drill intercepts encountered good nickel grades over appreciable widths including 2.35% Ni, 0.72% Cu over 13.72 metres, 2.35% Ni, 1.11% Cu over 10.67 metres, 2.63% Ni, 0.98% Cu over 10.30 metres, 2.39% Ni, 1.24% Cu over 10.06 metres, 1.02% Ni, 0.85% Cu over 35.57 metres, 1.03% Ni, 0.50% Cu over 22.86 metres, 4.31% Ni, 1.28% Cu over 5.18 metres and 3.20% Ni, 1.23% Cu across 5.95 metres (see Figure 1).\n\nThe deposit occurs at the southwest end of Rice Island and is interpreted to have formed as the result of magmatic segregation occurring at the basal contact of a gabbro intrusion and underlying sulphide-rich clastic sedimentary rocks (see Figure 2). Mineralization occurs largely at the base of the gabbro but also in lesser amounts in the sediments, as disseminated, stringer, semi-massive and massive pyrrhotite, pentlandite and chalcopyrite. The gabbro intrusion appears to be funnel-shaped with an underlying possible feeder zone in longitudinal section view and to have a northerly strike and plunges steeply (-60 de...