Positive Drilling Results At Rockland Gold Project

TORONTO – Wolfden Resources Corporation reported on the Rockland Gold Project, located in the Walker Lane Trend of Nevada. The program consisted of three drill holes for 1,600 total metres, designed to test below significant historical drill results that ended in mineralization, including 146.4 metres at 1.0 g/t AuEq in hole PG-32 and 85.4 metres at 1.0 g/t AuEq in hole PG-36C.
The first and third holes of the program, REP18 and REP 22, were drilled below holes PG-32 and 36C to test the extent and potential continuation of the broad mineralized zone intersected in hole PG-32. Hole REP22 was a scissor hole, drilled opposite to REP18 and PG-32, in order to better determine the geometry and extent of the mineralized zone.
“We are pleased that holes REP18 and 22 better defined the orientation of the mineralized zone”, stated Ron Little, CEO. “The drilling, particularly the intercept in REP22 strongly suggests that the mineralized zone dips steeply to the east, beyond the end of hole PG-32, having intersected a mineralized interval 100.0 metres between 250.0 and 350.0 metres down hole, and with a preliminary average gold grade similar to that of hole PG-32 from 292.5 to 348.5 metres down the hole. As a result, further drilling is warranted to test for the continuation of the zone down dip to the East and to evaluate the potential for higher-grade feeder zone to this large-disseminated gold system”.
Hole REP18, intersected mineralization below and parallel to that intersected in hole PG32, but with a lower tenor than hole 32- this is not unexpected given the distance between holes and the apparent orientation of the mineralized zone relative to that of the drill hole. Visually, both holes (REP18 and 22) host the same altered flow-banded rhyolite with similar intensities of alteration and abundances of fine-grained sulphide observed in the historical holes (PG-36C and -32. Some study work, including interpretation of hyperspectral data collected, will be undertaken on the core to help determine the mineral associations of the host rhyolite, and perhaps help vector toward mineralization with higher gold grades.
The Company’s third drill hole in the program, REP25, was a 300-meter step-out hole drilled to a depth of 572 metres beneath Target Hill. The hole is situated near the NE end of a 1.7km long structural corridor characterized by the presence of altered rhyolite. Target Hill is a highly altered rhyolite dome from which historical drill hole PG30 returned a 315.5 metre zone of alteration and mineralization grading 0.1 g/t AuEq. Although subeconomic in grade, the broad intercept of anomalous gold with strong alteration suggested strong potential for better grade at depth. Visuals for REP25 indicate that similar intensely altered flow-banded rhyolite carries fine-grained sulphide, like that seen in REP18 and 22. Preliminary results for REP25 indicate that some intervals carry higher gold grades than those intersected in PG30, and although a high-grade feeder was not intersected at depth in this REP25, the results add valuable information to help guide exploration drilling in this area, including a possible scissor hole to test for a steeply westerly-dipping controlling structure.
While awaiting the final geochemical results, the Company will determine the potential timing of, and budget for, additional drilling at Rockland.