Wolverine Exploration Concludes 2011 Exploration at Cache River
VANCOUVER, British Columbia, Nov. 15, 2011 /PRNewswire/ -- Wolverine Exploration Inc. ("Wolverine") (OTC Bulletin Board: WOLV) is pleased to provide an update on its exploration program on its Cache River property in Labrador. The exploration consisted of diamond drilling and was focused on investigating the 11 priority one and priority two targets that were detected by an induced polarization survey conducted in late 2010. To date, four of the anomalies have been drilled and a fifth was putting down casing when winter weather conditions set in and the decision was then made to demobilize for the season with the intention of continuing the completion of the rest of the program in 2012.
Of the four holes drilled, two had minor indications of sulphide mineralization with magnetite while one contained disseminated mineralization consisting of blebs of chalcopyrite and pyrite for approximately 37 metres (121 feet). This core has been cut and shipped to Activation Laboratories in Ancaster, Ontario for analysis. Also, sections of magnetite encountered in the fourth hole have been selected to be assayed including analysis for rare earth elements (RRE's). Assay results will be released as soon as they are received.
The early onset of winter conditions in Labrador has prevented the completion of the scheduled 11 holes. Upon receipt of the assay results Wolverine will evaluate the results together with all other data from previous exploration and access the best possible scenario for the 2012 exploration season.
On behalf of the Board
Lee Costerd
President
For further information please contact:
Ronald Jones (778) 297-4409
mailto:[email protected]
http://www.wolverineexplorationinc.com/
Or
The Foothills Group
San Jose, CA
1-888-516-7415 (toll free)
mailto:[email protected]
http://www.foothillsgroup.com/
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.
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