NUNAVUT - WOLFDEN RESOURCES of Thunder Bay, Ontario, has begun an underground exploration program at its Ulu gold project, located 155 km north of the former Lupin mine. Crews will establish 400 metres of development to test the grade continuity of the three largest gold-bearing quartz veins on the property. The Ulu deposit has indicated and inferred mineral resources of 1.13 million tonnes grading 11.34 g/t Au.
The original plan for the Ulu project called for building a gold circuit at the High Lake copper-zinc project, which Wolfden also owns. The company has purchased the mineral processing plant from the recently exhausted Nanisivik base metal mine in Nunavut. It should be moved to the site later this year or next. Wolfden has begun the federal and territorial permitting processes.
Now Wolfden is making plans to acquire the former Lupin mine from KINROSS GOLD. If it went back into production, Ulu ore might be treated in the existing mill. The company plans next to update the reserve and resource figures for Lupin.
Drill results, maps and sections for both the High Lake and Ulu projects can be found at www.WolfdenResources.com.