TETAGOUCHE PROJECT NEW BRUNSWICK, 100% WOLFDEN
Tetagouche
TETAGOUCHE
PROJECT HIGHLIGHTS:

img>20,000 hectare property in the Bathurst Mining Camp contains 5 historic massive sulphide deposits and numerous base-metal occurrences largely explored in the 1960's and 1970's

img30 kilometre strike-length of the favourable Spruce Lake Formation containing the historic massive sulphide deposits and base-metal prospects, offers excellent exploration potential

imgSourcing high-grade Zn-Pb-Ag massive sulphide boulder clusters to bedrock will continue to be a priority target in the 2015 exploration program


PROPERTY DESCRIPTION AND LOCATION:

The 100%-owned Tetagouche property comprises greater than 20,000 hectares and is located in the heart of the Bathurst Mining Camp of north-eastern New Brunswick. The centre of the property is located approximately 30 kilometres northwest of the Brunswick No. 12 Zn-Pb-Ag-Au deposit and 25 kilometres west of the City of Bathurst. The Tetagouche property can be explored year-round and at reasonable cost given its easy road access and proximity to infrastructure (see Geology Map of Bathurst Mining Camp Showing Project Location).


PROPERTY OVERVIEW:

Brunswick No. 12 is one of the world's premier massive sulphide deposits with a global reserve (including those previously mined) of at least 100 million tonnes at a grade of 3.65% Pb, 8.99% Zn and 100 g/t Ag. In addition to Brunswick No. 12 there are over 30 other Volcanogenic Massive Sulphide deposits in the Bathurst Mining Camp, some of which have been previously mined, attesting to its world-class endowment and mineral potential. Currently, there are 2 development projects ongoing in the Bathurst Mining Camp; potential reopening of the Caribou mine and mill complex by Trevali Mining Corporation, and an ongoing prefeasibility study at the Murray Brook deposit being completed by joint-venture partners Votorantim Metals and El Nino Ventures Ltd.

Wolfden acquired the property out of bankruptcy from 8100896 Canada Inc., a wholly-owned subsidiary of GeoVenCap Inc. for a cash consideration of $125,000 and $100,000 in common shares of Wolfden Resources Corporation.

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 (see Wolfden Property Position in the Bathurst Mining Camp Map). The historic resources for these deposits, is tabulated below:

Deposit Tonnage %ZN %PB %CU G/T AG G/T AU
Armstrong A 3,377,000 2.26 0.42 0.29 25.37 0.41
Armstrong B 488,583 1.10 0.23 0.67 13.71 0.10
Rocky Turn 131,000 8.43 2.69 0.28 101.00 3.10
Canoe Landing Lake 22,800,000 1.82 0.64 0.56 32.23 1.17
McMaster 250,000 0.75

All of the deposits are historic resources that are not compliant with National Instrument 43-101 and cannot be relied upon for valuation purposes. A qualified person has not done sufficient work to classify the above historic resources as current mineral resources and accordingly, the Company is not treating the historical estimates as current mineral resources.


PRIME EXPLORATION TARGET AREAS:

Rocky Turn Extension - A New Massive Sulphide Discovery

In October of 2014, Wolfden announced the discovery of a new massive sulphide occurrence following drill testing of a coincident Max-Min electromagnetic anomaly (conductor) and a prominent lead-zinc-in soil anomaly (see Rocky Turn Extension - Discovery Hole, T-14-02 Photo). The new discovery, the Rocky Turn Extension, is located immediately to the southeast of the Rocky Turn deposit that hosts a historical resource of 130,000 tonnes grading 0.28% Cu, 2.69% Pb, 8.43% Zn, 101 g /t Ag and 3.1 g /t Au.

Nine (9) drill holes have tested the Rocky Turn Extension occurrence over a 700-metre strike length (from 800W to 1500W) and to a maximum vertical depth of 150 metres (see Map 2). Narrow zones of massive sulphide were intersected in 6 of the 9 drill holes completed, currently outlining a deposit with a 150-metre strike length (from 1250W to 1400W) to a vertical depth of 150 metres. Two of the drill holes returned significant though narrow intersections of massive sulphide including 0.35% Cu, 2.68% Pb, 6.35 % Zn, 138 g/t Ag and 1.91 g/t Au over 0.79 metres and 0.22% Cu, 1.86% Pb, 7.99% Zn, 68 g/t Ag and 0.30 g/t Au over 0.19 metres in holes T-14-04 and T-14-05, respectively. Massive sulphide mineralization remains open at depth (see Diamond Drill Plan - Rocky Turn Extension & Rocky Turn Deposit & Longitudinal Section - Rocky Turn Extension & Rocky Turn Deposit).

Additional drilling supplemented by downhole geophysics is warranted to probe for thicker intersections of massive sulphide at depth, as well as along strike to the east, where significant gaps exist in the current drill configuration that have tested this new discovery.

Hole No. Coordinates From (metres) To (metres) Massive Sulphide - Intersected Width (metres) Massive Sulphide - True Width (metres) Cu (%) Pb (%) Zn (%) Ag (g/t) Au (g/t)
T-14-01 L1400W, 200N 62.10 62.30 0.20 0.12 0.11 0.44 1.48 25.9 0.91
T-14-02 L1300W, 200N 72.00 79.70 7.70 4.78 0.23 0.54 3.19 13 0.61
T-14-04 L1300W, 220N 41.80
inc. 42.20
43.40
43.40
1.60
1.20
1.05
0.79
0.27
0.35
2.01
2.68
4.76
6.35
105
138
1.63
1.91
T-14-05 L1250W, 190N 82.40
inc. 82.40
84.50
82.70
2.10
0.30
1.35
0.19
0.03
0.22
0.31
1.86
1.35
7.99
14
68
0.35
0.30
T-14-06 L1300W, 350N 134.90 136.10 1.20 0.74 0.07 0.88 2.83 23.0 1.44
T-14-07 L1500W, 335N Massive Sulphide Not Intersected
T-14-08 L800W, 225N Massive Sulphide Not Intersected
T-14-20 L1300W, 353N 193.0 193.1 0.10 0.06 0.07 1.56 3.52 34.0 1.57
T-14-21 L1100W, 315N Massive Sulphide Not Intersected

Rocky Turn Deposit

The Rocky Turn deposit contains historical resources of 131,000 tonnes grading 8.43% Zn, 2.69% Pb, 0.28% Cu, 101.0 g/t Ag and 3.10 g/t Au. The deposit has been drilled over a 150-metre strike length and to a depth of 150 metres by 14 drill holes. Along trend to the east, the deposit is open along strike and additional drilling is warranted. The east strike extension of the deposit contains Pb-Zn soil anomalies that are closely associated with weak to moderate-strength airborne electromagnetic anomalies (megaTEM).

A single drill hole (T-14-19) was completed at the Rocky Turn deposit to test for deeper extensions of massive sulphide mineralization beyond that outlined by historical drilling efforts (see Map 2).

Drill hole T-14-09 returned a narrow, ore-grade intercept of massive sulphide as tabulated below, at a vertical depth of 175 metres; the deepest intercept obtained to date on the Rocky Turn deposit. Additional drilling accompanied by down-hole geophysical surveys is warranted in efforts to enlarge the massive sulphide deposit, particularly at depth.

Hole No. Coordinates From (metres) To (metres) Massive Sulphide - Intersected Width (metres) Massive Sulphide - True Width (metres) Cu (%) Pb (%) Zn (%) Ag (g/t) Au (g/t)
T-14-09 L1600W, 450N 195.6 195.9 0.30 0.20 0.49 2.58 8.59 171.0 2.56

V10 Area

One of the primary goals of 2014 exploration on the Property was to find a bedrock source for numerous high-grade massive sulphide boulder clusters located in the V10 target area (on the Tetagouche property) and down-ice from it, on adjacent properties. At V10, recent massive sulphide boulder discoveries yielded bonanza grades of 19.80% Zn, 3.88% Pb, 0.33% Cu, 649 g/t Ag and 1.08 g/t Au as well as 20.10% Zn, 4.20% Pb, 0.33% Cu, 694 g/t Ag and 0.88 g/t Au.

To help source such boulders to bedrock, detailed integrated surveys involving soil geochemistry, geophysical surveys (gravity, Max-Min EM and magnetic surveys), geological mapping and prospecting were completed in the V10 area. Such surveys defined several coincident, gravity, EM and Pb-Zn-Cu in-soil anomalies, a number of which are closely associated with chloritic and sericitic alteration zones as defined by geological mapping. All of the anomalies are located up-ice to the west of the high-grade boulders and were the targets for diamond drilling (see V10 Area Compilation, Diamond Drill Holes, Gravity Anomalies and Electromagnetic Anomalies & V10 Area Compilation, Soil Geochemistry).

A total of 12 drill holes comprising 1,662 metres were completed in the V10 area in an effort to source the V10 massive sulphide boulders to bedrock. With the exception of 2 drill holes (T-14-10 & T-14-17), none of the drill holes intersected massive sulphide mineralization. The results for the massive sulphide intersections are tabulated below:

Hole No. Coordinates From (metres) To (metres) Massive Sulphide - Intersected Width (metres) Massive Sulphide - True Width (metres) Cu (%) Pb (%) Zn (%) Ag (g/t) Au (g/t)
T-14-10 L1300NW, 060NE (Grid C) 201.3
218.9
201.6
219.1
0.30
0.20
0.24
0.16
0.11
0.08
0.26
1.15
1.41
2.30
5.5
13.0
0.03
0.08
T-14-17 L3900N, 525E (Grid A) 30.70 30.95 0.25 0.20 0.24 0.71 0.11 2.5 0.48

Drill hole T-14-10 tested a discrete, linear residual gravity anomaly and coincident Pb-Zn soil anomaly located proximal to 2 massive sulphide boulders (GM-14-1 and MS float on Map 3). Two (2) narrow massive sulphide intercepts were obtained in this drill hole, both returning low-grade assays for base metals. An additional intersection of massive sulphide was obtained in drill hole T-14-17 testing a conductor (Max-Min and Airborne EM) and weak gravity anomaly; only anomalous levels of base-metal mineralization were returned from this hole. Despite the low-grade tenor of base metal values obtained in these drill holes, additional drilling accompanied by down-hole geophysics is warranted to further test these occurrences.

The other drill holes in the V10 area intersected altered felsic volcanic rocks with local concentrations of strong sulphide mineralization consisting of pyrite. Additional drilling is recommended to test a number of remaining soil geochemical and gravity anomalies in this locale, particularly given the high-grade nature of the V10 massive sulphide boulders located nearby.



2015 EXPLORATION TARGET AREAS:

Additional geochemical and geophysical targets on the Upsalquitch Forks and Brunswick No. 6 properties were drilled in 2015. Further drilling is warranted at all of the Rocky Turn Extension, Rocky Turn deposit, Rocky Turn South (Wildcat) and V10 areas, two additional areas known as the V10 South target and the Rocky Turn West target (See 2015 Exploration Target Areas). However, management is measuring these targets against those in Manitoba in order to prioritize 2015 drilling. This is an on-going, reiterative process.