Wolfden drills High Lake property

Wolfden Resources (YWO-V) will launch a $2-million program of diamond drilling and airborne geophysics at its High Lake volcanogenic massive sulphide property in Nunavut’s Bathurst Inlet.

The first of two drill rigs will sink stepout holes at 25-to-50-metre intervals to test for down-plunge extensions of the high-grade B zone.

At last count, the B zone contained a resource of 3.2 million tonnes grading 5.03% copper and 1.1% zinc, plus 2.3 grams gold and 18.2 grams silver per tonne. The zone remains open at depth and along strike to the south.

The second rig will test for downdip and strike extensions to the D zone, which hosts a drill-indicated resource of 1.6 million tonnes running 2.1% copper, 4.9% zinc, 0.6 gram gold and 59.1 grams silver.

Crews will then drill-test other targets, including the G zone, where grab samples have returned copper values exceeding 6%.

The High Lake deposit hosts resources totalling 5.3 million tonnes of 4.05% copper, 2.4% zinc, 1.76 grams gold and 31.7 grams silver.

High Lake is one of the highest-grade undeveloped polymetallic deposits in Canada.

Earlier this year, Wolfden acquired 6.8 sq. km adjoining the property. The newly expanded land package covers the western extension of the Granite Lake magnetic anomaly, a possible kimberlite target.

Investors greeted the start of the drilling program by bumping Wolfden’s shares up by 9, or 7.6%, to $1.28 on the Canadian Venture Exchange, a new 52-week high.