WOLVERINE MINERALS CORP. ("Wolverine" or the "Company") (TSX
VENTURE: WLV)(FRANKFURT: 4LP) is pleased to announce that after a
comprehensive review of historical information and analysis of the
results of last year's programs, it has now finalized its work
program and budget for the 2011 field season on the Company's Yukon
properties optioned from Strategic Metals Ltd ("Strategic").
Estimated expenditures will be approximately $5 million, with the
majority of this work to be focused on eight of the Company's core
properties. Through Archer, Cathro & Associates (1981) Limited
("Archer Cathro"), all crews, camps, equipment, drills, helicopters
and other necessary supplies have been arranged and the following
programs will begin on June 1, 2011:
Dawson Range District:
DDD-Shamrock (15,550 hectares) - Previous work on most of the
property has been minimal except for the Shamrock area in the
extreme southwest corner, which is a known porphyry copper gold
system. Peripheral to the porphyry system, two gold geochemical
targets were identified by work completed by Archer Cathro in 1985,
when Archer Cathro stated that, "The larger target consists of
several clusters of anomalous gold values scattered over a 2400 by
800 meter west-northwest trending area that extends off the
property (as it existed in 1985) to the east" (This area is now
covered by Wolverine's claims). Reconnaissance soil sampling by
Strategic in 2010 outlined significant clusters of anomalous gold
and arsenic values in most areas of the property. A program of grid
and contour geochemical soil sampling, prospecting and geological
mapping will be augmented by extensive backhoe trenching,
concentrating on the known porphyry copper gold system, to
prioritize drill targets. This will be followed up by core drilling
this season.
BBB (5,100 hectares) - Regional geochemical sampling was
completed by Archer Cathro in the 1980's and subsequent follow-up
work led to the discovery of the Toast showing. The Yukon
Government Minfile report documents a heavy mineral concentrate
from the creek in the showing area which reportedly contained 14
g/t gold, and a float sample in the area assayed 27.3 g/t gold.
Subsequent follow-up soil and silt sampling completed by Strategic
personnel in 2010 confirmed and expanded the original anomalous
values in the north, west, and southeast portions of the property,
and led to the expansion of the claim block to the southeast. This
expanded property now extends to the boundary of the Klaza property
of Rockhaven Resources, and is located along a prominent
northwesterly-trending linear feature. A program of grid and
contour geochemical soil sampling, geological mapping and extensive
backhoe trenching is planned to locate targets for core drilling
later this season.
CCC (11,000 hectares) - Historical information from the Archer
Cathro database noted anomalous gold and arsenic values on the
property. Subsequent reconnaissance sampling by Strategic in 2010
outlined at least 6 clusters of anomalous gold and arsenic values
dispersed in various areas of the property. The Company intends to
complete a detailed program of contour soil geochemistry and
geological mapping, followed by trenching of selected areas to
prioritize targets for future drilling.
Dade Property: (1,960 hectares) - A 6 meter wide gold-bearing
quartz vein occupying a northeast-trending fault zone was traced
for about 600 meters by hand trenches and geochemistry in the early
1990's. The gold and arsenic-in-soils anomaly is open in both
directions along strike. Exploration will consist of closely spaced
geochemical soil sampling and backhoe trenching to outline
potential targets for drilling.
Sked - Desk Property: (870 hectares) - A WNW-ESE trending
gold-silver-arsenic-mercury soil anomaly was identified within a
broad magnetic anomaly and a moderate to strong IP anomaly in the
early 1990's. Historical trenching and drilling traced a
mineralized zone for about 300 meters along strike and 150 meters
down dip. Trenching returned anomalous to highly anomalous gold
values over significant widths. Historical drilling encountered
values up to 3.9 g/t gold and 17 g/t silver. Geochemical soil
sampling by Strategic in 2010 indicates that the mineralized zone
could extend at least 1000 meters along strike in both directions.
Exploration will consist of grid geochemical soil sampling, backhoe
trenching and reverse circulation drilling this season.
Finlayson District:
String Property (1,250 hectares) - Previous exploration work
carried out from 1995 to 1999 was directed towards the discovery of
volcanogenic sulfide deposits, however anomalous gold values were
encountered in drilling. In 2010, Strategic expanded the area of
the original geochemical soil survey and significantly enlarged
this coincident gold-arsenic-antimony anomaly, which now measures
at least 1500 x 400 meters in size and is still open to the
northwest. The Company intends to continue to detail this anomaly
with further grid soil sampling and backhoe trenching to prioritize
targets for core drilling this season.
Hoole Property (1,190 hectares) - This property has a
considerable history of past exploration, almost all of which was
directed towards the discovery of volcanogenic base metal deposits.
A number of gold occurrences were located at surface and in drill
core, with grab samples to 10.34 g/t gold and anomalous gold values
in numerous quartz boulders recorded. The Company intends to
conduct backhoe trenching and shallow reverse circulation drilling
to focus on the higher grade parts of the system. Contingent on the
success of this work, a program of core drilling may be carried out
in the fall of 2011.
Gam Property (1,335 hectares) - Geochemical soil sampling has
partly delineated a large, annular, coincident gold-arsenic anomaly
(approximately 2 km x 2 km), which correlates with a zone of
listwanite alteration. This zone of alteration/gold-arsenic
anomalies appears to be tabular in shape but its thickness,
orientation and total area have not yet been defined. In 2010, chip
sampling by personnel of Strategic from four short hand trenches in
frozen talus returned strongly anomalous gold values (up to 0.44
g/t gold over 17.95 meters). The Company intends to more fully
delineate the area of anomalous values by grid geochemical soil
sampling, geological mapping and trenching to assess its potential
for drilling.
Loop Property (1,045 hectares) - Anomalous gold and silver
values were obtained from quartz float during early exploration
work. Subsequent soil sampling by Strategic in 2010 located several
clusters of anomalous gold and copper values in soils. Work for
2011 includes detailed soil sampling and shallow reverse
circulation drilling.
The remaining 16 early stage properties in both districts will
be explored by prospecting and reconnaissance geochemistry if time
allows.
Contingent on the results of these planned exploration
activities, individual programs could be extended into late
September or early October.
The technical data in this news release has been reviewed and
approved by James M. Dawson, P.Eng, who is a qualified person as
defined in National Instrument 43-101. Technical data in this news
release has been derived from the following technical reports of
the Company: "Technical Report on the Finlayson Project, Watson
Lake Mining District, Yukon, Canada", authored by J. Douglas
Blanchflower, P. Geo., and dated November 8, 2010, and "Technical
Report on the Dawson Range Project, Whitehorse Mining District,
Yukon, Canada", authored by J. Douglas Blanchflower, P.Geo., and
dated November 24, 2010. Copies of the technical reports are
available on SEDAR at www.sedar.com.
WOLVERINE MINERALS CORP.
Thomas A. Doyle, President & CEO
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company's overall business development objectives and plans.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, and include
discussion of the Company's planned 2011 exploration programs. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward-looking statements
reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause the
Company's actual results to differ materially from those expressed
or implied by the forward-looking statements, including: (1) any
number of events or causes which may delay the Company's 2011
exploration programs, such as environmental liabilities, weather,
mechanical failures, safety concerns and labour problems, (2)
inability to finance operations, (3) inability to obtain all
necessary permitting and financing, and (4) other factors beyond
the Company's control. These forward-looking statements are made as
of the date of this news release and the Company assumes no
obligation to update these forward-looking statements, or to update
the reasons why actual results differed from those projected in the
forward-looking statements, except in accordance with applicable
securities laws. Additional information about the Company and these
and other assumptions, risks and uncertainties is available in the
Company's public filings with Canadian securities regulators,
available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Wolverine Exploration Inc. Thomas A. Doyle (604)
689-5722 Wolverine Exploration Inc. Logan Anderson (604) 689-5722
(604) 685-9182 (FAX) info@wolverineminerals.ca
Wolverine Minerals Corp. (TSXV:WLV)
過去 株価チャート
から 5 2024 まで 6 2024
Wolverine Minerals Corp. (TSXV:WLV)
過去 株価チャート
から 6 2023 まで 6 2024