Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Wolverine Exploration, Inc. (WOLV) is “One to Watch”

Wolverine Exploration Inc. is a junior exploration company focused on the exploration of mineral properties in Labrador, Canada. The Company holds a 90 percent interest in 449 mineral claims. These claims cover an area of approximately 11,225 hectares in central Labrador and contain a series of significant copper-gold showings. Wolverine Exploration Inc. trades on the OTC Bulletin Board and has their principal business offices in Quesnel, British Columbia.

The Company is in the process of executing a five-phase exploration program. Phase one of their exploration program completed in October of 2007. This phase consisted of prospecting, rock sampling, and assaying the rock samples. After receiving favorable results from this phase of the exploration program, management decided to proceed with phase two.

Phase two of the Company’s exploration program was also completed in October 2007. This phase consisted of an airborne survey of the Labrador Claims. Due to continued favorable results, the company proceeded to phase three.

Phase three of their exploration program consisted of a preliminary ground review completed in August 2008 by the project geologist, Ed Montague and a member of the Innu Development Limited Partnership. A second year assessment report was completed and filed with the Department of Natural Resources of the Province of Newfoundland and Labrador. Following completion of this phase, the company began phase four.

Phase four of their exploration program consists of prospecting, sampling, excavating, and trenching. The prospecting and sampling program portion of phase four completed in the fall of 2009. An assessment report on the fall 2009 program was completed and filed with the Department of Natural Resources of the Province of Newfoundland and Labrador.

The fifth phase will consist of an IP (Induced Polarization) survey over anomalies identified in the phase two airborne survey to determine drill locations for this autumn’s 2010 drill program. The 2010 summer exploration program followed-up previous work conducted by Wolverine since 2006 and included additional prospecting followed by trenching and a diamond drill program of selected priority targets.

The 2010 Fall-Winter Exploration Program in already place. With the completion of the Phase 1 diamond drilling program and the evaluation of the mineralized zones intersected, Wolverine is undertaking an induced polarization (IP) survey over two selected areas. It began in October and will be followed up with a winter drill program.

This past March, Wolverine Exploration Inc. reported that they carried out geological reconnaissance along with prospecting and sampling on three of their six Labrador licenses. Some, but not all, of the known mineralized zones were sampled. In addition to the usual base metal sampling, the Company conducted scintillometer surveys on the exposed rock cuts along the highway and selected areas of the southern portions of the three licenses.

Activation Laboratories based in Ancaster, Ontario, carried out mineral analysis of the Wolverine samples, which included uranium content. Assay results indicate that there are significant copper values in three of the samples. Elevated values of gold, zinc, and rare earth elements along with minor silver, cobalt, and chromium are also associated with the samples.

Wednesday, Wolverine Exploration Inc. reported that the previously announced induced polarization (IP) survey is now underway on the Cache River Property in Labrador. Previous drilling had confirmed the presence of anomalous copper in disseminated sulphide with assay results returning grades up to 0.24 percent copper and anomalous gold.

The survey will be conducted by Abitibi Geophysics under the supervision of Robert McKeown (PGeo). The IP survey will be conducted on three separate grids.

Lee Costerd, Wolverine President & CEO commented, “The IP survey was recommended to be conducted when the ground is relatively dry but not frozen. It should only take a few weeks to acquire the data and a further few weeks to process and interpret. We see this survey as an important next step in defining and locating the extensions of the surface showings which contained grades of copper ranging from 1.38 percent to 6.4 percent to establish drill target locations for a Phase 2 drill program.”

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *