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Monday, 25th September 2006 (3111 views)

Wolfden Resources has announced that it has started a programme aimed at fully assessing the potential of one of its mines in Canada.

The Lupin gold mine is situated in Nunavut, Canada. Wolfden owns the Lupin mine 100 per cent after it was recently transferred from Kinross, which retains a one per cent royalty on net smeltings.

Over the duration of its mining life, projects at Lupin have so far returned 3.37 million ounces of gold grading 0.259 ounces per tonne of gold.

Most resources were returned from a zone placed to the north of the main shaft. The west zone, which can be found to the south of the main shaft, has so far seen little development or exploration work.

Recent work has indicated that this areas has the potential to host extensive mineralisation, starting at the surface. Another area named the McPherson zone also is currently fit for exploitation.

Company president Ewan Downie commented: "Lupin has the potential to become the cornerstone in the development of Wolfden, allowing the company to make the transition from explorer to producer in the very near-term and provide the back-bone for the development of our other, world-class, deposits in the region."

 

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