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Wallbridge Mining Company Ltd.
Summary
| Project: | Fenelon | |
|---|---|---|
| Deposit: | Habanero | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-10-2018: Wallbridge Mining Company Ltd. announces an Exploration/Drilling Update report for its Habanero deposit at the Fenelon project. Drilling results incl. 5.66m @ 74.90g/t Au from 104.41m. TORONTO, Oct. 2, 2018 /CNW/ - Wallbridge Mining Company Lim | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Attila Pentek (Internal) | |
| ABSTRACT: | TORONTO, Oct. 2, 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"). "Our exploration results continue to exceed expectations," stated Marz Kord, President and CEO of Wallbridge. "We are particularly pleased with the results from the Habanero Zone, a new zone which is producing good grades and widths as demonstrated by the highlight intercept in this press release. We look forward to more good results from this zone as we still have several holes with visible gold with assays pending." Underground drilling to date from the 5213 Level has mainly targeted the high-grade shoots down to 5130 Level (~120 m depth), which is the lowermost level that is planned to be developed during the 2018 bulk sample program. In the next few weeks drilling will focus on adding high grade resources in the East Extension areas and at depth, below the 5130 Level. A new underground drill station has been developed on the 5180 Level, which will be used to target the main high-grade shoots down-plunge to 200 m depth. The bulk sample is expected to produce 19,000 to 26,000 ounces of gold with close to 50% of gold priced at C$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, is expected to be sufficient to cover the budgeted working capital requirements. | |
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