Business
Wolfden Updates Pickett Mt. Mineral Resource Statement
Expansion and Infill Drilling Increases and Upgrades the Mineral Resources THUNDER BAY, ...
About this update from Wolfden Resources Corp.
[{"type":"text","content":"Wolfden Updates Pickett Mt. Mineral Resource StatementExpansion and Infill Drilling Increases and Upgrades the Mineral ResourcesTHUNDER BAY, ON / ACCESSWIRE / November 17, 2021 / Wolfden Resources Corporation (TSXV:WLF.V) (\"Wolfden\" or the \"Company\") is pleased to announce an updated Mineral Resource Estimate (MRE) for its 100% owned Pickett Mountain high-grade zinc-lead-copper-silver massive sulphide deposit (\"the Deposit\"), located in Penobscot County in north-eastern Maine, U.S.A.HighlightsIndicated Mineral Resource of 2.72 million tonnes at 8.91% zinc, 3.83% lead, 1.22% copper, 97.2 g/t silver & 0.8 g/t gold (17.72% ZnEq).Inferred Mineral Resource of 3.59 million tonnes at 9.27% zinc, 3.83% lead, 1.00% copper, 105.4 g/t silver & 0.7 g/t gold (17.65% ZnEq).This 2021 mineral resource update and the 2020 mineral resources statement were estimated using the same methodology, parameters, and metal prices of US$1.20/lb Zn, $2.50/lb Cu, $1.00/lb Pb, $16.00/oz Ag, and $1,200/oz/Au, using a 7% base case cutoff grade that equates to an approximate NSR cut-off of $139/tonne at the same metal prices. An average recovery of 75% for all metals was assumed based on preliminary metallurgical testing.The resource estimate utilized 179 intersections and includes a third lens referred to as the Footwall Lens (FWZ) that is situated approximately 150 to 200 metres to the north and parallel to the East and West Lenses.The deposit remains open at depth and into the footwall (north) where continued expansion and infill diamond drilling has the potential to further upgrade and expand the mineral resource.\"We are very pleased with the steady progress and increase in the mineral resources without any change to the conservative metal prices used in the last two models,\" stated Ron Little, President and CEO. \"The update enhances the long-term sustainability and potential project economics, when compared to the details of to the previously released September 14, 2020, Preliminary Economic Study. The project continues to demonstrate its potential to be a significant economic driver in a region that has seen little development and job creation in the last decade.\"The Mineral Resource EstimateNOVEMBER 17, 2021 - MINERAL RESOURCE STATEMENTCategoryTonnes% Zn% Pb% Cug/t Agg/t AuDensity% ZnEqIndicated2,724,0008.913.831.2297.20.83.8417.72Inferr...