NUNAVUT – WOLFDEN RESOURCES, headquartered in Thunder Bay, Ont., has begun exploration and development of the former Lupin gold mine on Contwoyto Lake. Wolfden recently purchased the property from Toronto’s KINROSS GOLD, which retains a 1.0% NSR.
Between 1982 and 2005, the Lupin mine produced more than 3.37 million oz of gold from ore averaging 0.259 oz/ton Au (8.88 g/t). Wolfden is currently drilling to establish NI 43-101 resource numbers. The company noted that previous production came from north of the main shaft, and there are promising results from other unmined areas of the property. The highest assay from these areas was 26.6 g/t Au over 2.0 metres from the 890-m level drift, and most of the rest were between 10.0 and 20.0 g/t Au.
Wolfden is planning an underground drill program and a study regarding the possibility of reopening the Lupin mine in 2007. The company is also examining its Izok, High Lake and Ulu base metal properties in the Arctic. NI 43-101-compliant and historical resources for those projects are posted at www.WolfdenResources.com.