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Wallbridge Mining Company Ltd.
Summary
| Project: | Fenelon | |
|---|---|---|
| Deposit: | Fenelon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-2-2017: Wallbridge Mining Company Ltd. announces a Pre-Feasibility Study report for its Fenelon deposit at the Fenelon project. Prefeasibility study results incl. post-tax NPV (5%) of $2.8M, IRR of 60%. At the request of Marz Kord, President and CEO of | |
| Resources: | (Reserve, P+P): 90295 Mined tonnes @ 10.43g/t Au | |
| CP/QP: | [Resources]: Pierre-Luc Richard, Catherine Jalbert (InnovExplo Inc.) | |
| ABSTRACT: | At the request of Marz Kord, President and CEO of Wallbridge Mining Company Ltd (“Wallbridge”, the “issuer” or the “Company”), InnovExplo Inc. (“InnovExplo”) was retained to prepare a Technical Report (the “Report”) to present and support the results of a Pre-feasibility Study (“PFS”) for the Fenelon Gold Mine Property in accordance with Canadian Securities Administrators’ National Instrument 43-101. InnovExplo is an independent mining and exploration consulting firm based in Vald’Or, Québec. The Fenelon Mine Property is an advanced stage project with near-term production potential, and drill intersections that suggest an exploration potential for resource expansion. The Property is situated near the Sunday Lake Deformation Zone, which hosts the Detour Lake mine in Ontario, belonging to Detour Gold Corporation, as well as the Martiniere gold project in Québec, held by Balmoral. Wallbridge announced the results in a press release on February 2, 2017. The 2017 PFS estimates a Pre-tax Net Cash Flow of $6.62M and a Project pre-tax Internal Rate of Return ("IRR") of 92% for the initial approximate 18-month mine life for the known reserves located above 100 metres depth and in close proximity to the existing ramp. | |
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