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Wolfden Enters Into Agreement to Purchase Base-Metal Project in Penobscot County, Maine, USA and Financing Proposal
Wolfden Resources Corporation (WLF:TSX-V) (“Wolfden” or the “Company”) is pleased to announce that has entered into a purchase and sale agreement dated September 6, 2017 (the “Purchase Agreement”) with an arm’s length third party to acquire a 100% interest in property located in Pickett Mountain, Penobscot County, northern Maine, U.S.A (the “Property”) for a cash purchase price of US$8.5 million (the “Acquisition”).
As quoted in the press release:
The Property is host to the Pickett Mountain Zn-Pb-Cu-Ag deposit, considered by Wolfden management to be one of the highest-grade undeveloped volcanogenic massive sulphide deposits (VMS) in North America (the “Pickett Mountain Project”). The deposit was discovered by Getty Mines Ltd. in 1979, using a combination of soil surveys ground surveys and diamond drilling and has not been explored since 1989.
