Wolfden begins metallurgical studies at Canoe Landing

Executive Summary

• Wolfden Resources has begun metallurgical testing on its Canoe Landing VMS deposit, where precious metals now represent >50 % of the in‑situ value.
• The program includes sequential flotation, bio‑oxidation of pyrite concentrate, and alternative roasting/pressure oxidation paths to boost gold and silver recoveries.
• Results from the metallurgical work and an updated NI 43‑101 resource model are expected in Q2 2026.

Key Details

• Deposit background: Historically non‑NI 43‑101 resource of 22.8 Mt @ 1.17 g/t Au, 32.23 g/t Ag, 1.82 % Zn, 0.64 % Pb, 0.56 % Cu (≈2.5 g/t AuEq or 12.0 % ZnEq).
• Current focus: Determining whether improved precious‑metal recoveries can make the project more economically robust given higher metal prices.
• Metallurgical testwork scope:
• Mill standardization; roughers for Cu, Pb, Zn and pyrite.
• Pyrite regrind standardization; cyanide leach testing on pyrite concentrate.
• Roasting of pyrite concentrate followed by cyanide leaching.
• Development of site‑specific bacterial cultures for bio‑oxidation; testing microbial amenability and subsequent CN leach performance.
• Processing concept: Sequential flotation yields four concentrates (Cu, Pb, Zn, pyrite). The pyrite concentrate—rich in Au—will undergo:
• Bio‑oxidation using native microorganisms → enhanced gold/silver recovery via downstream cyanide leaching.
• Alternative roasting and pressure oxidation pathways for comparative evaluation.
• Partnership & funding: Collaboration with the Research and Productivity Council of New Brunswick (RPC); received a small financial grant from a genomics‑focused research group.
• Anticipated outcomes: Potentially higher Au/Ag recoveries, lower energy use, reduced emissions versus traditional roasting/pressure oxidation; results slated for Q2 2026.
• Assumptions used for AuEq/ZnEq calculations: $4,500/oz Au, $65/oz Ag, $1.40/lb Zn, $5.25/lb Cu, $0.88/lb Pb.

Notable Quotes

“Given the increase in all metal prices, our goal is to determine if the project has the potential to be more economically robust if processing recoveries can be improved at a reasonable cost.” – Ron Little, CEO, Wolfden Resources Corp.