THUNDER BAY, ON, Feb. 20, 2013 /CNW/ - Wolfden Resources Corporation (the "Company" or "Wolfden") (WLF:TSX-V) is pleased to announce that diamond drilling has commenced on its wholly-owned Clarence Stream property in New Brunswick as well as at its Lawman property, in central Minnesota (100%-owned).
The Clarence Stream property is the Company's flagship project totalling 793 mineral claims, comprising 17,446 hectares. It is well-located close to infrastructure, 70 kilometres south of Fredericton and 25 kilometres northwest of the town of St. George in Charlotte County, southern New Brunswick.
Gold mineralization occurs in two main areas of the property, each with distinct unique host rocks and deposit geometry. The Proximal Zones lie within a steeply-dipping east-northeast trending high strain zone, traced intermittently over a 12 kilometre strike length. The Anomaly-A or Distal deposits, are associated with a flat-lying, basin-shaped structure, likely related to regional thrust faults and occur in an area measuring 1 kilometre by 2 kilometres.
The Lawman project comprises a new manganese-iron discovery made by Wolfden prior to its public listing. The property is located in central Minnesota, proximal to the Tamarack Ni-Cu-PGE deposit currently being developed by Kennecott Exploration Company Ltd. and the iron mines and processing facilities operated by Cliffs Natural Resources Inc.
In 2010, Wolfden leased several properties that were believed to have potential to host Ni-Cu-PGE deposits. One such target, the Lawman magnetic anomaly, is a strong magnetic high traceable over 10 kilometres. A single hole drilled to test the anomaly intersected 2 significant intervals of banded iron formation containing appreciable manganese; the upper zone returning 7.30% Mn and 11.99% Fe over 13.7 metres and a lower zone assaying 5.89% Mn and 14.81% Fe over a
core interval of 6.5 metres.
This discovery represents the first known occurrence of manganese and iron in this part of Minnesota. The current drilling program will test parts of the anomaly that have a stronger geophysical signature than the initial drill target. Notably, the Cayuna manganese-iron range is located less than 150 kilometres to the southwest of the Lawman property and contains the largest inventory of manganese in North America.
The first step-out out hole recently completed, located approximately 3
kilometres east of the discovery hole, intersected 31.6 metres of banded
oxide-facies iron formation. Results will be released as they become available.
Wolfden is a diversified junior mineral exploration company, holding a balance of early to advanced-staged gold and base-metal properties, located in mining-friendly and well-accessible jurisdictions in Canada and the United States.
SOURCE Wolfden Resources Corporation