NORTHERN ONTARIO WOLFDEN RESOURCES of Thunder Bay, has assays as high as 10.22 g/t Au across 19.10 metres from its Ulu gold project. The company also reports that mineralization has been intersected for the first time in the Deep zone area, below the main Flood zone. Previous estimates put the geological resources of the Flood zone at 1.37 million tonnes grading 12.91 g/t Au from surface to 360 metres.
Wolfden’s current drilling program is deigned to test for extensions to the existing mineralized zones and find new lenses below the main deposit. Gold mineralization has been intersected both up-dip and down-dip from the current resource. Complete assay results from Ulu are posted at www.WolfdenResources.com.
At the Bachelor Lake gold project in Quebec, Wolfden is dewatering and rehabilitating the shaft in preparation for an underground exploration program. The deposit is estimated to contain an undiluted measured resource of 185,500 tonnes grading 8.0 g/t Au and an indicated resource of 196,600 tonnes at 9.8 g/t Au. Bachelor Lake is a joint venture with CAMPBELL RESOURCES. Wolfden can earn a 50% interest by funding $3 million of exploration over three years and other share/cash considerations.
Drilling has resumed at the Monument Bay gold project in northern Manitoba where previous work identified an inferred resources of 639,400 tonnes grading 20.4 g/t Au. This estimate does not include the results of the winter 2004 drilling program. The operator, BEMA GOLD, has earned a 70% interest in the project.