Wolfden raises C$2m from Altius and Kinross
Explorer and developer Wolfden Resources has raised C$2-million from Altius Minerals and Kinross Gold, which now hold about 12.6% and 11.4% of the issued and outstanding shares of the company.
The proceeds of the C$0.32-a-share offering will be used to continue exploration at the Pickett Mountain polymetallic deposit, in Maine, US – about 85 km west of the Canadian border.
Drilling in 2020 would seek to further expand the mineral resources, including high-grade mineralisation intersected in the final holes of the 2020 drill programme in the footwall of the deposit, said Wolfden CEO Ron Little.
“The company has been working in parallel on an application to rezone a small portion of its Picket Mountain property to allow for an underground mining operation and hopes to conclude the process in 2021 with a favourable outcome,” he stated.
Pickett Mountain is said to be one of the highest-grade polymetallic projects in North America. An October 2020 preliminary economic study indicated robust underground mining operations with a net present value of $200-million, a payback of 2.4 years and a breakeven all-in sustaining cost of $0.38/lb zinc equivalent.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation