BANGOR DAILY NEWS • January 20, 2025
Wolfden Resources Corp., the company trying to develop a metallic mineral mine in northern Penobscot County, has agreed to sell 3,770 acres, just over half of its 6,826 acres, to Altius Royalty Corp. in a $1.5 million cash deal expected to close on Jan. 31, according to Wolfden. Altius, a Newfoundland-based mining and mineral royalty company, already holds a percentage of the royalty rights to the zinc, lead, copper and silver allegedly located in the northern Penobscot County site. Wolfden will retain another 3,082 acres around Pickett Mountain — located about eight miles north of Patten — that are not included in the sale. For five years, it will also retain the right to explore and buy-back the mineral rights of the land it’s selling.