'This Initial Mineral Resource Estimate confirms that the Nickel Island Deposit has sufficient size, grade and expansion potential to be regarded as Wolfden's third significant development project (and second nickel sulphide deposit) in the North American EV metal space,' commented
The Deposit consists of a steeply-south-dipping panel of nickel-bearing sulphide mineralization that can be traced for 900 metres along strike and to 400 metres depth and appears open in all directions. This Mineral Resource is based only on nickel and copper values since the historical work did not include the analysis for other typical metals such as cobalt, gold, platinum and palladium. However, the results of independent site visit verification sampling of the historical Nickel Island Deposit drill core exhibited better than expected values of palladium and platinum that averaged 0.72 g/t and 0.21 g/t, respectively in 11 samples, that averaged 2.32% Ni and with highs of 0.15 g/t Au, 2.72 g/t Pd, 0.67 g/t Pt and 0.08% Co in a sample that returned 7.43% Ni and 0.49% Cu. The addition of these un-assayed metals could represent some significant upside to the potential economic importance of the Deposit and any extensions. The next drill program will include analysis for these metals.
Higher nickel grades are possible in the Project area, as reflected in drill hole results that included 4.33% Ni and 0.37% Cu over 4.3 metres (estimated true thickness). In addition, the Property hosts numerous untested conductive zones and associated magnetic highs, which are similar in character and trend to the Nickel Island Deposit. These untested zones represent some very encouraging drill targets and potential to further expand Mineral Resources.
About the Nickel Island Deposit
The Nickel Island Ni-Cu-Co-PGE sulphide deposit is a southeast-trending, steeply dipping, lenticular zone of massive to disseminated nickel-bearing sulphide mineralization. The peridotite (to Komatiitic) host rocks are generally magnetic, can be traced along strike and extend over 50 kilometres. The host rock sequence includes garnetiferous-sericitic skarns, mafic volcanics, cherty iron formation, greywacke, felsic volcanics, felsic intrusions and pegmatites.
About Wolfden
Wolfden is an exploration and development company focused on high-margin metallic mineral deposits including base, precious and strategic metals. Its wholly owned
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Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, metal price assumptions, cash flow forecasts, permit and community approvals, and the timing and completion of drill programs in
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