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Wallbridge Mining Company Ltd.
Summary
| Project: | Fenelon | |
|---|---|---|
| Deposit: | Fenelon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/5/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing PEA | |
| Report details: | 5-12-2016: Wallbridge Mining Company Ltd. announces an Exploration/Drilling Update report for its Fenelon deposit at the Fenelon project. Re-sampling of historic core results incl. 1.90m @ 19.7g/t Au. TORONTO, Dec. 5, 2016 /CNW/ ¬ Wallbridge Mining Compan | |
| Resources: | (Resource, M+I): 91000t @ 12.97g/t Au at project | |
| CP/QP: | [Overall Report]: Marz Kord (Not stated) | |
| ABSTRACT: | TORONTO, Dec. 5, 2016 /CNW/ ¬ Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce that its sampling program on the Fenelon Mine project in Quebec has continued to identify new gold mineralization in drill core which was not previously sampled, from historic holes located in close proximity to the mine workings. Commenting on these results, Marz Kord, Wallbridge President and CEO stated, "Our exploration to date at Fenelon has been quite successful in finding new gold mineralization in drill holes without actually drilling. It is now obvious that in previous exploration campaigns, logging and sampling of drill core was very selective whereas our experienced team of geologists now better understand the geology and the gold¬bearing structures, resulting in the identification of gold in drill core that was previously thought not to be mineralized." "The significance of these new mineralized intervals is that we now can add ounces to the mine plan which is being prepared as part of our prefeasibility study. An example of this is in hole 1040¬002 which previously included two intervals grading 66.30 g/t over 1.55 metres and 9.07 g/t over 1.31 metres with an unsampled gap in between. Sampling and assaying of this gap now proved it to be mineralized and proves the zone to be continuous and the overall mineralized intersection is now 20.17 g/t over 6.21 metres." (See Figures 1 & 2 below). "We will continue our review of past drilling and geological information to add ounces near the existing resource as well as adding ounces along strike of the deposit." "In parallel, we continue our work to complete a prefeasibility study this quarter and advance permitting so that upon confirming positive economics we are in a position to make a production decision in Q2 of 2017." | |
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