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Wallbridge Mining Company Ltd.
Summary
| Project: | Fenelon | |
|---|---|---|
| Deposit: | Fenelon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-8-2018: Wallbridge Mining Company Ltd. announces an Exploration/Drilling Update report for its Fenelon deposit at the Fenelon project. Drilling results incl. 4.80m @ 29.23g/t Au from 42.90m. TORONTO, Aug. 14, 2018 /CNW/ - Wallbridge Mining Company Limi | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Attila Pentek (Internal) | |
| ABSTRACT: | TORONTO, Aug. 14, 2018 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce continued positive results from its underground drill program and to provide an update on the ongoing development as part of the 35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold Property ("Fenelon"). "We are making excellent progress and have begun the first shipments of Fenelon ore to the Camflo mill. The success of the drilling program to date is two-fold. Not only has it provided us with the ability to identify and select higher-grade stopes for the bulk sample, but it has also allowed for the pre-development of additional stopes which will provide lower-cost, near ready-to-mine ounces once the bulk sample is completed and a production decision has been made," stated Marz Kord, President & CEO of Wallbridge. The bulk sample is expected to produce 19,000 to 26,000 ounces of gold with close to 50% of gold priced at $1,720 per ounce. The expected cash flow upon completion of this bulk sample, net of all bulk sample costs and including the financing costs will be sufficient to cover the planned working capital requirements. The bulk sample program is designed to test a few stopes in several zones. Overall grade from these planned stopes is estimated to average 18 to 25 g/t gold. The geology team has developed an extensive sampling program to characterize the mineralized material during this bulk sample. Chip samples are collected from a sampling line across each development face and muck samples are also taken in a regular pattern on surface. | |
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