Wolverine Exploration Intersects Sulfide Mineralization at Cache River
VANCOUVER, British Columbia, Oct. 17, 2011 /PRNewswire/ -- Wolverine Exploration Inc. (WOLV-OTCQB & OTCBB) is pleased to provide an update on its ongoing exploration program on its property in central Labrador. The present program consists of continuing prospecting, geological evaluation and diamond drilling. The drilling program is focused on investigating the anomalies that were identified by a recent induced polarization survey (IP) carried out late in 2010.
To date, three anomalous areas have been or are being drilled on the property. Drill hole CR1-05-11 has intersected several minor zones of sulphide mineralization containing chalcopyrite (Cu) with lenses of magnetite being the probable cause of the anomaly. Drill hole CR1-06-11 was ended at 44.1 meters when no cause of that anomaly could be identified in the core. However Drill Hole CR1-08-11 intersected sulphide mineralization immediately on entering bedrock. Mineralization consists of blebs and stringers of chalcopyrite with associated pyrite. The mineralization continues for a core length of 37 meters. This entire section is currently being cut and will be sent for analysis including gold content.
All of the anomalies that were identified by the IP survey suggests a linear expression of from 0.6 to 1.0 km and all strike in a NE/SW direction and are parallel to each other suggesting a strong geological trend. Wolverine intends to investigate all of those targets with diamond drilling.
On behalf of the Board
For further information please contact:
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the results of the drilling program.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Wolverine Exploration Inc.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here