RED SUCKER LAKE, Manitoba The Monument Bay project is returning high grade gold mineralization from the 43-hole drill program currently underway. As of last week, results from 34 of the holes had been received, one of which assayed 127.20 g/t Au over 0.3 m.
Monument Bay is a joint venture of BEMA GOLD and WOLFDEN RESOURCES (which can earn a 70% interest). The project includes the Twin Lakes, Main and Seeber River zones. The recently-discovered Twin Lakes West zone is returning intercepts including 10.77 g/t over 7.9 m and 21.85 g/t over 2.2 m. Favourable ice conditions this winter allowed rigs to test the Twin Lakes West as well as the Twin Lakes zone.
Earlier estimates of the mineralization in the Twin Lakes zone put it at 300,000 oz of gold with an average grade of 18.5 g/t.
Bema has completed its obligations and now controls 51% of the Monument Bay property. The company has notified Wolfden that it intends to spend another $3 million to earn an additional 19% interest.
Pictures and information about Monument Bay are available in the Company Projects section at www.wolfdenresources.com or contact Bema’s investor relations department at 605-681-8371 or 800-316-8855.