Wolfden drills Monument Bay

Initial drilling by Wolfden Resources (WOLF-C) at the Monument Bay gold project in northeastern Manitoba has returned encouraging results.

The first four holes intersected an alteration zone with a strike length of some 170 metres. The zone is open in all directions.

Hole 1 cut two parallel high-grade zones hosted by extensively sericitized rocks. The A zone returned 5.1 grams gold per tonne over 3.3 meters, including 7.3 grams over 1.5 metres, whereas the B zone returned 30 grams over 4.2 metres, including 36.7 grams over 3.3 metres. Several specks of visible gold are noted in the B zone interval. Holes 2 to 4, eastward stepouts from hole 1, cut the same zones of sericitization as in hole 1. Visible gold has also been noted in holes 2 and 4, which are 80 and 170 metres east, respectively, of hole 1. Assay results from Holes 2 and 4 are pending.

Wolfden is earning a 100% interest in the property from Battle Mountain Gold (BMG-N) by spending $3 million over six years. Battle Mountain retains a 2% net smelter return royalty.

Drilling by Noranda (NOR-T) between 1989 and 1991 outlined an indicated resource of 3.5 million tonnes grading 5.7 grams gold per tonne in three zones:

– zone A carried 2.4 million tonnes grading 2.74 grams gold per tonne;

– zone B carried 472,000 tonnes grading 15.77 grams; and

– zone C carried 590,000 tonnes grading 9.94 grams.

The current 15-hole, 3,000-metre drill program is testing a 600-metre section of the A and B zones. The zones occur in a 3.5-km portion of the Twin Lakes-Monument Bay deformation zone, which has been traced for more than 30 km. All the zones are open at depth and along strike.

Drilling between the zones cut isolated intersections of:

– 2.9 metres grading 106.87 grams gold;

– 1.5 metres of 10.9 grams;

– 2 metres of 7.1 grams;

– 1.2 metres of 17.2 grams; and

– 1.7 metres of 8.5 grams.