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Wolfden Files NI-43-101 Technical Report for the Pickett Mt. Project in Maine
THUNDER BAY, ON / ACCESSWIRE / November 2, 2020 / Wolfden Resources Corporation (TSXV:WLF) ...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"Wolfden Files NI-43-101 Technical Report for the Pickett Mt. Project in MaineTHUNDER BAY, ON / ACCESSWIRE / November 2, 2020 / Wolfden Resources Corporation (TSXV:WLF) (\"Wolfden\" or the \"Company\") is pleased to announce that an independent technical report entitled \"National Instrument 43-101 Technical Report, Preliminary Economic Assessment Pickett Mountain Project, Penobscot County, Maine, USA\" with an effective date of September 14, 2020 has been filed on SEDAR. Highlights of the economic study were previously announced by the Company in a news release dated September 14, 2020.The Base Case Financial Model of the Study Yields:$198 million After-tax NPV8% to Wolfden for an underground mine plan scenario37% After-tax IRR with a 2.4 year payback$147 million Initial capital expenditure including closure costs and 20% contingencyNote: The PEA Mineral Resources estimate used metal price assumptions of US$1.20/pound for zinc, US$1.00/pound for lead, US$2.50/pound for copper, US$16.00/troy ounce for silver, and US$1200/troy ounce for gold. The PEA financial model used consensus metal prices assumptions of $1.15/lb Zinc, $1.00/lb Lead, $3.00/lb Copper, $18.00/oz Silver and $1,500/oz Gold. All financial figures are in US dollars.About Wolfden and the Pickett Mountain Projectsupport of major investors Kinross Gold Corporation and Altius Minerals, Wolfden plans to explore and develop its wholly owned Pickett Mountain Project in Maine, USA, one of the highest-grade polymetallic projects in North America (Zn, Pb, Cu, Ag, Au). This relatively advanced project is well-located near excellent infrastructure which will support straight forward development.Pickett Mountain Mineral Resources dated September 14, 2020 using a 7% ZnEq* cut-off2.2 Mt at 18.23% ZnEq of Indicated (9.3% Zn, 3.7% Pb, 1.3% Cu, 96 g/t Ag & 0.9 g/t Au)2.3 Mt at 18.62% ZnEq of Inferred (9.8 % Zn, 3.9% lead, 1.2% Cu, 101 g/t Ag & 0.9 g/t Au)Upcoming Milestones+ 5,000 metre drill program is underway to further expand resources and discover new zonesApproval of the ongoing rezoning petition in 2021 would be a significant milestoneSecuring additional high-grade projects and exploration drill targets in MaineFor further information please contact Ron Little, President & CEO, at (807) 624-1136 or Rahim Lakha, Corporate Development at (416) 414-9954.The informatio...