Wolfden Resources -- der Highflyer 2007

Nach einer Empfehlung in einem bekannt gutinformierten Börsenbrief würde mich nicht wundern wenn hier demnächst was losgeht.

Nachfolgend eines der aussichtsreichsten Projekte :

High Lake Copper/Zinc Exploration Program


Location

The High Lake Project is located in the Kitikmeot region of Nunavut, approximately 550km north-northeast of Yellowknife, NWT. The closest population center is Kugluktuk, located 175km west-northwest of the property. The property is approximately 45km south of the Coronation Gulf.


Size of Property

The property is comprised of a combination of mineral leases, mineral claims and Inuit owned lands and consists of:

Area covered
15 Mineral leases 1,710 ha.
IOL Land Package 6,171 ha,
4 Mineral Claims 1,607 ha

Also earning in to 70% of the Blackstone Resources James River property just south of the above claims. This area totalling approximately 15,354ha



Ownership

100 % Wolfden Resources Inc.


Previous Work

The original High Lake deposits, consisting of the AB & D Zones were discovered in the mid 1950\'s though airborne reconnaissance prospecting by Kennarctic explorations. From 1956 to 1957, 52 diamond drill holes totaling 7149 m were completed in conjunction with mapping, sampling and TURAM surveys.

A second round of exploration began in 1991 with Aber Resources operating the property in conjunction with Kennecott Canada. During the 1991-1993 period, magnetic, electromagnetic, and gravity surveys were conducted, along with surface mapping, sampling and drillhole re-logging. In addition, 63 NQ diamond drill-holes were drilled on the property and surrounding showings.

Collectively this work defined two, near surface zones of mineralization; the A/B-zone and D-zone and led to a drill-indicated resource of 5.3 million tones averaging 4.05% Copper, 2.36% Zinc, 1.76 g/t Gold and 31.73 g/t Silver.


Project Overview

Wolfden acquired the property in 2000 and began work in 2001. Through the 2001 - 2005 exploration seasons, Wolfden conducted ground and airborne Geophysical Surveys, as well as diamond drilling. To-date, Wolfden has drilled 218 diamond drill holes. Highlights of Wolfden\'s program include the discovery of the "West Zone", a previously un-identified zone located approximately 1.5km to the west of the AB & D Zones. The discovery of the West Zone has added approximately 10.0 million tonnes to the historical resource of 5.3 million tonnes. Prior to the 2005 drill program, indicated resources (NI-43-101 compliant) at High Lake were 14.3 million tonnes grading 2.34% Copper, 3.53% Zinc, 1.01 g/t Gold and 75.69 g/t Silver which has a copper equivalent of 4.70% Copper. The inferred resource is 1.3 million tonnes grading 1.17% Copper, 3.35% Zinc, 0.78 g/t Gold and 764.52 g/t Silver which has a copper equivalent of 3.29% Copper. Ongoing exploration and infill drilling continues to add tonnage and additional prospective targets.

Wolfden is currently undertaking a pre-feasibility study which proposes a combination of two open pit developments to target the A/B and D zones, with an underground development proposed for the West zone and the deeper extents of the A/B zone.

In 2005 approximately $15 Million was spent on exploration and development. The 2005 exploration program consisted of regional prospecting, ground geophysical surveying including magnetic and electromagnetic surveys. Several areas of interest were identified, including the North Zone, South Zone, Lake Zone, Cairo showing, the Sand Lake area and several targets located on the Blackstone Joint Venture ground. Exploration drilling, concentrated on areas of interest surrounding the High Lake camp and the West Zone including the 007, Gambler and Swell Zones. Additional drilling focused on promising geophysical anomalies. In total 62 holes, totalling 19,950 meters were drilled in 2005.

Wolfden\'s environmental field program also continued to collect data to form the basis of the projects Environmental Impact statement, a program ongoing since 2003. This information will be used in the EIS to document current environmental conditions and to determine potential environmental impacts of the project. Studies ongoing during the 2005 field season include: climate studies, terrain and vegetation studies, archaeology, wildlife studies, freshwater fish and fish habitat, marine fisheries and mammals, groundwater studies, hydrogeology, and water quality and sediment studies.

Engineering studies were also ongoing during the 2005 season, with drill testing of sub-surface conditions taking place at proposed dam sites, and at potential infrastructure locations. Geotechnical information was also collected in areas of proposed open pit development and underground development.

Continued exploration in 2006 will focus on several new targets in the surrounding region and aim to further increase known resources. Areas showing favourable geology will be mapped and prospected, tested with surface geophysics and any significant anomalies will be drilled.

In addition, Wolfden will continue working with Gartner Lee Ltd and Wardrop Engineering to advance its environmental baseline work, and mine development. Wolfden is actively working towards submitting an environmental impact statement and a prefeasibility study for the project in 2006.


Ongoing Exploration


West Zone

The West Zone, discovered by Wolfden in 2003, lies approximately 1.5 km west of the D Zone. To date, the West Zone has been defined by over 100 drill holes along a 700m strike length. Since the initial discovery, drilling has focused on defining the main sulphide ore body on roughly 50 meter centers, up to depths of 600-700m below surface.

Drilling has shown that the West Zone deposit consists of two parallel, sheeted ore bodies, the Main West Zone ore body, and the much smaller, overlying, 007 Zone ore body (a.k.a the \'West Extension"). Both ore bodies are steeply west dipping sheets of massive sulphides. The Main Zone has a strike length of approximately 250m and plunges to a depth of 700m where it remains open. There is a 50-75m overlap of the 007 orebody on the southern edge of the West Zone. The 007 Zone has been drilled along a 350m strike length and up to 200m depth where it pinches out.

In August 2005, HLW-05-171 intersected a broad zone at a down hole depth of 925 m, grading 4.4 % Cu, 2.18% Zn, 0.8 g/t Au, and 66.7 g/t Ag over 27 m. The nature and composition of alteration and mineralization encountered in this hole is indicative of a "feeder zone", the first time such alteration has been seen in the West Zone. This is encouraging when considering the depth potential that the deposit has. Wolfden is currently drilling two deep holes to continue testing the West Zone at depth.

Sand Lake

The Sand Lake prospect is located 11km North of High Lake on the High Lake Greenstone Belt. The main showing is a 100m X 150m gossanous outcropping of strongly chlorite altered tuffs at the foot of a 100m thick diabase sill. Mineralization consists of disseminated to massive pyrite with disseminations of chalcopyrite, bornite, and sphalerite. Historic grab sampling of this outcrop returned values as high as 1.12% Cu, 0.41% Pb, 1.8% Zn and 130 g/t Ag, respectively. Several strong EM anomalies lie in the Lake southwest of the main showing and have been the focus of previous drilling campaigns.

In May 2005, Wolfden Resources conducted a UTEM survey over Sand Lake and outlined several EM anomalies, one of which coincides with the main showing. In June 2005, a drill rig was mobilized to Sand Lake and three holes were put into the showing/EM anomaly. All three holes intersected thick sections of strong cordierite/chlorite/serecite alteration and encouraging VMS style mineralization. The best hole intersected 21.0 meters of 2.71% copper starting at a downhole depth of 105m. The hole furthest South intersected 2.5m of 2.64% Cu, 3.52% Zn, 81.54 g/t Ag and 0.3 g/t Au. The Sand Lake Zone remains open for expansion.

In August 2005, Wolfden geologists prospected the Sand Lake area. Exciting new zinc mineralization was discovered in angular float boulders 200m south of the main showing. The mineralization consists of 5-15cm thick bands of massive pyrite/sphalerite in chlorite/serecite/silica altered tuffs, assays range up to 14.16% Zinc and 27 g/t silver. The mineralization was also traced to the North where it disappears under the diabase sill approximately one hundred meters North of the nearest drill hole. Two assays of selective, in-situ mineralization were collected from the northernmost outcrop. One sample returned 1.2% Cu, 146 g/t Ag and the other ran 0.44% Pb, 7.6% Zn, 30 g/t Ag.

Wolfden Resources is very encouraged by the new developments at Sand Lake and plans further drilling of the prospect in early 2006.

West West Zone

The West West Zone lies 3.5km west of High Lake and was discovered in May 2004 while prospecting an electromagnetic anomaly from the spring, 2004 Fugro Airborne Survey. A linear gossan with trace Chalcopyrite and Galena was found which prompted a Max-Min geophysical survey to be performed over the area. The survey results were inconclusive and no other work was done that year.

In August 2005, further prospecting to the West of the original gossan revealed much stronger chalcopyrite/sphalerite mineralization with grab samples assaying up to 6.16% Cu, 0.75% Zn, 30.1 g/t Ag and 1.23 g/t Au respectively. The mineralization consists of disseminated to net textured sulphides in chlorite/hematite/epidote altered felsic tuffs. The samples were found along a linear contact between silicious, felsic, lapilli tuffs and a blue quartz eye rhyolite over a strike length of 150m. Wolfden Resources plans to perform a UTEM survey over the new mineralization followed by drilling in 2006.

The Stu Zone

The Stu Zone lies 3.5km WSW of High Lake and approximately 1km south of the West West Zone. It was discovered in August 2005 when a UTEM grid was placed over an electromagnetic anomaly and a large 200m X 300m gossan. The gossan consists of stacked, sub-vertically dipping, lenses of silica/serecite/pyrrhotite punctuated by several thick intervals of very intense biotite/cordierite "Dalmatianite" alteration. No base metals were observed. The UTEM survey results were inconclusive, however, subsequent prospecting approximately 300m North of this grid revealed a linear gossan bearing disseminated chalcopyrite, sphalerite, and galena in felsic tuffs. The mineralization trends North/South and has been traced over a strike length of 250m with widths of two to ten meters. Individual grab samples returned assays up to 6217 ppm Cu, 4180 ppm Pb, 6330 ppm Zn, and 19.7 ppm Ag respectively. Future work will consist of placing a new UTEM grid over the mineralization followed by drilling.

The Cairo

The Cairo Showing lies 1.5km WNW of High Lake and 1.6km North of the West Zone. The area was originally staked and explored from 1988 to 1990 by BHP-Utah Mines to follow up on reconnaissance sample results of up to 6,730 ppb Au and 80.8 ppm Ag. Work on the area consisted of mapping, rock sampling, and soil sampling with the objective of evaluating the potential for precious metal mineralization peripheral to the High Lake VMS deposit. Further sampling could not replicate the Au-Ag highs but anomalous Zn, Pb, and Cu in most of the samples suggested the potential for VMS mineralization.

In June 2005, Wolfden geologists prospecting just North of the Cairo showing found disseminated chalcopyrite mineralization within a large 200m X 100m area of cordierite "Dalmatianite" alteration. Two holes were drilled into this zone from the same set up with encouraging results. The holes both intersected wide zones of cordierite/biotite/hematite alteration with pervasive trace chalcopyrite. A 1m interval of 5-6% net textured chalcopyrite/pyrite was intersected in both holes and delineates a steeply dipping mineralized structure. This mineralization is identical to an intercept seen deep within the West Zone. The assay highlights are as follows:



Hole # Angle From To Interval Cu % Ag g/t
HLW-05-156 -45 94.5m 95.5m 1.0m 2.91% 18.3 g/t
HLW-05-157 -70 184.0m 186.0m 2.0m 3.71% 8.0 g/t
200.4m 201.5m 1.10m 2.25% 7.5 g/t


A third hole HLW-05-159 was placed 200m south of the first two holes. This hole intersected 100m of cordierite/biotite/albite/hematite altered tuffs before entering the High Lake Intrusive Complex.
Future work on the Cairo showing will consist of mapping followed by drilling down-dip and along strike of the mineralized structure encountered in the first two holes.

The North Zone

The North Zone lies approximately 2.0 km north of High Lake and was discovered by Aber Resources Ltd in 1993. The North Zone consists of a prospective horizon, traceable for 150 meters along strike and at least 200 meters vertically. Aber completed nine diamond drill holes which tested a TEM conductor. The best drill intercepts returned encouraging values of 9.5% and 8.2% Zn over 4.30m and 1.40m respectively and several anomalous gold and silver values.

In 2005, Wolfden performed a UTEM survey over the North Zone, however, results from this survey were inconclusive. Following the UTEM survey, eight NQ diamond drill holes were drilled in order to infill previous drilling completed by Aber and delineate the strike and down dip extensions of the mineralized horizon. Six out of the nine holes drilled at the North Zone intersected numerous thin zones in addition to several anomalous gold and silver values, consistent with Aber\'s 1993 findings. The mineralization consists of finely disseminated pyrite, chalcopyrite and trace amounts of galena occurring as discrete bands running parallel to foliation hosted in a mafic to intermediate tuff. Drilling returned encouraging base metal values. Although the North Zone is currently open at depth and additional definition drilling is needed, Wolfden is not planning to drill this location during 2006.

Blackstone Joint Venture

In the spring of 2003, following the discovery of the West Zone, Wolfden optioned a land package from Blackstone Resources that represents the southern extension of the High Lake/West Zone Felsic volcanic stratigraphy. Beginning in the spring of 2003, Wolfden Resources undertook a program to test the massive sulphide potential of these claims.

To date, work has consisted of prospecting and mapping, two separate airborne geophysical surveys, ground geophysical follow-up of eight airborne geophysical anomalies and diamond drilling. Nineteen diamond drill holes have tested six prominent airborne geophysical anomalies: Fog Lake, Charlie, Natiq, Amagok South, Ced West and Ced South. This drilling has led to the discovery of multiple massive sulphide bodies, however, none of these have contained significant base metal mineralization. In 2003 five drill holes testing conductors identified around Fog Lake intersected massive sulphide mineralization consisting primarily of pyrite and pyrhottite. In 2004 four holes were drilled to test the Charlie anomaly and two holes were drilled to test the Natiq anomaly. Drilling intersected stringer to semi-massive pyrite/pyrrhotite with minor base metal values. In 2005, seven holes were drill to test the Ced Lake West and South anomalies, and one hole was drilled to test the Amagok South anomaly. The CED lake drilling intersected wide intervals of anomalous copper, zinc and silver values, and zones of alteration consistent with VMS style mineralization. Further work is required to fully evaluate the VMS potential of this claim group.


2006 Focus


Presently, Wolfden is preparing an extensive exploration and development program for this year. The 2006 drill program will continue to concentrate on exploration, focusing on three prospective zones: Sand Lake, Cairo Zone and West-West Zone. Also, further delineation drilling on the West and 007 Zones will be completed working towards a full feasibility study. Property wide mapping and prospecting will continue, with geophysical follow-up of airborne anomalies and diamond drilling continuing.



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Rege Diskussion erwünscht !