Wolfden Resources Corporation has completed proof-of-concept metallurgical testing at its wholly owned Canoe Landing volcanic massive sulphide deposit in central New Brunswick, demonstrating that bio-oxidation can increase gold recoveries from a baseline of 32% to 60%.

The deposit was discovered by Rio Tinto in the 1960s and drilled by Noranda in the 1980s. Wolfden completed a maiden mineral resource estimate in February 2026 totaling 20.83 million tonnes across indicated and inferred categories at average grades of 0.98 g/t gold and 1.79% zinc. Precious metals account for more than 50% of the total in-situ value at the deposit, which ranks as one of the largest undeveloped polymetallic mineral deposits in the Bathurst mining camp.

While standard flotation processing delivers reasonably high copper, lead, zinc, and silver recoveries, historical work placed little focus on precious metals due to lower prices and higher processing costs. Working with the independent Research and Productivity Council of New Brunswick, Wolfden tested 40 kilograms of historical drill core samples representing a representative average grade of the deposit.

The testing program produced four concentrates via open-circuit rougher flotation: copper, lead, zinc, and pyrite. The pyrite concentrate, which contained 32.8% of the total gold, was exposed to bio-oxidation to break down the pyrite matrix and expose gold grains for subsequent cyanide leaching. Compared to roasting and baseline methods, bio-oxidation raised total process gold recovery to 60%.

Preliminary unoptimized results indicate the process yields a recoverable metal value of $216 per tonne using current spot prices, representing an approximate additional $36 per tonne in revenue. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

We consider the results to be very positive and warrants the collection of drilled-fresh core samples for further metallurgical testing. This would include verification of the base metal flotation circuit as well as confirmation and improvement of the post flotation treatment for precious metals.

— Jeremy Ouellette, Vice President of Project Development

Wolfden intends to design a subsequent sample collection and testing program using fresh drill core to confirm both the flotation circuit and precious metals recoveries at the deposit. Future testing will also explore alternative technologies such as Albion and further optimize roasting for post-flotation treatment.

Read the full announcement: Wolfden Announces Positive Precious Metal Results at Canoe Landing