A small Ontario-based mineral exploration company has obtained a nickel-copper property near Snow Lake.
Wolfden Resources Corp. recently acquired the Rice Island property, planning to carry out an airborne geophysical survey and, within a few weeks, drilling.
“Upon review of all available data, it is clear that the Rice Island nickel-copper deposit and Property have not been explored utilizing modern-day high-resolution techniques,” the company said in a news release.
“The intent of the drilling will be to confirm the style, grade and configuration of the Rice Island deposit and also to establish a mineral resource for the deposit.”
The property, located 10 km south-southeast of Snow Lake, consists of 495 hectares, Wolfden said.
Rice Island is “well-positioned with respect to infrastructure” such as electricity and labour force, the company said, allowing it “to complete exploration on the property year-round and at reasonable cost.”
Mining company Inco Ltd. explored the Rice Island deposit using drill programs in 1949-50 and again in 1967, according to Wolfden.
Drilling at that time “encountered good nickel grades over appreciable widths,” Wolfden said. The historic exploration results do not meet modern reporting standards.
George Topping, CEO of Wolfden, said the acquisition of the property “is consistent with the company’s strategy of acquiring high-quality base metal properties with good exploration upside in safe jurisdictions.”
Note: Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the accuracy or adequacy of information supplied by Wolfden.
