Mining company buys large tract 5 miles from Katahdin Woods & Waters NMon; will explore for copper, other minerals

AUGUSTA — A Canadian mining company plans to buy nearly 7,000 acres in northern Maine to explore for deposits of copper, silver and other minerals in what could be the first major mining project since lawmakers overhauled state environmental regulations.

Wolfden Resources Corp., which is based in Thunder Bay, Ontario, announced Thursday a purchase-and-sale agreement to buy the 6,871 acres of timberland and accompanying mineral rights on Pickett Mountain for $8.5 million. Located north of Patten along the border of Penobscot and Aroostook counties, Pickett Mountain was first listed as the site of a sizable mineral ore deposit – known as the “Mount Chase deposit” – nearly 40 years ago but has never been mined commercially.

full story