Wolfden Resources (V.WLF) to acquire large strategic land package – shares pop 21%

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| December 9, 2013

Wolfden Resources (TSX-V:WLF, StockForum), a Thunder Bay-based company engaged in the exploration and development of mineral properties in North America, announced today that the company signed a definitive agreement to acquire a 20,000-plus hectare land package in Bathurst Mining Camp located in north-eastern New Brunswick.


Bathurst Mining Camp is already home to over 30 massive sulfide deposits including the Brunswick No. 12 zinc-lead-silver deposit.


According to the news release, “The Property adjoins Wolfden's Armstrong Brook property immediately to the west of it and contains a number of untested, up-ice, airborne electromagnetic anomalies (MegaTEM & Aerodat frequency-domain surveys), that may potentially host some of the bonanza-grade boulders on the Armstrong Brook property.”


It later added, “the Property contains 5 historic massive sulphide deposits and numerous mineral occurrences including the Armstrong A, Armstrong B, Rocky Turn, McMaster and Canoe Landing Lake deposits. The area is well served with access infrastructure and the Brunswick No. 12 mill is located approximately 25 kilometres to the east of the Property.”


George Topping, CEO of Wolfden, emphasized the importance of the agreement, “This massive increase in Wolfden's property holdings dramatically increases our exploration opportunities.”


Toppin concluded, “This property addition provides accelerated development options as it adds several known deposits with existing resources as well as multiple highly prospective targets in one of Canada's most prolific yet underexplored mining camps.”


Wolfden Resources was in the news recently when the company appointed Toppin as CEO.


Shares were up 21.05% on the news to $0.23 per share.


Currently there are 50,011,161 shares outstanding with a market cap of $11.5 million.

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