Wolfden completes resource estimate for Nickel Island deposit in Manitoba

Wolfden Resources (TSXV: WLF) has announced a mineral resource estimate for its Nickel Island deposit, 280 km southeast of the city of Thompson in east-central Manitoba. 

The project has inferred resources of 8.47 million tonnes grading 0.82% nickel and 0.08% copper (0.86% nickel-equivalent) for 72,800 tonnes of nickel-equivalent metal.   

  “The geological setting appears to be strongly indicative for the potential extension of the deposit and the discovery of additional mineralization with high nickel tenor and PGE’s [platinum group elements] on the property and surrounding area,” Ron Little, the company’s CEO, said in a press release.   

 The deposit can be traced for 900 metres along strike and to 400 metres depth and appears open in all directions, Wolfden says.   

This is the third resource estimate Wolfden has completed in as many months. 

 In December, the company reported its initial mineral resource estimate for its Rice Island project, also in Manitoba. The project has indicated resources of 4.29 million tonnes grading 0.74% nickel, 0.49% copper, 0.06 gram gold per tonne, 0.02 gram platinum per tonne, 0.03 gram palladium per tonne, 0.03% cobalt (1.11% nickel-equivalent) for 47,700 tonnes of nickel-equivalent metal and inferred resources of 3.39 million tonnes grading 0.55% nickel, 0.37% copper, 0.09 gram gold per tonne, 0.02 gram platinum per tonne, 0.04 gram palladium per tonne, 0.04% cobalt (0.89% nickel-equivalent) for 30,300 tonnes of nickel-equivalent metal.  

And in November, the company reported that indicated and inferred resources for its Pickett Mountain project in northern Maine, in the United States, increased by 22% and 57%, respectively, from a previous estimate completed in 2020.  

Pickett’s indicated resource is now 2.7 million tonnes averaging 8.91% zinc, 3.83% lead, 1.22% copper, 97.2 grams silver per tonne, and 0.8 gram gold per tonne (17.72% zinc-equivalent). The inferred portion is now 3.6 million tonnes at 9.27% zinc, 3.83% lead, 1% copper, 105.4 grams silver per tonne, and 0.7 gram gold per tonne (17.65% zinc-equivalent). The deposit remains open at depth and into the footwall to the north. 

At presstime, Wolfden was trading at 22.5¢ per share within a 52-week trading range of 15¢ and 35.5¢.