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Wallbridge Mining Company Ltd.
Summary
| Project: | Fenelon | |
|---|---|---|
| Deposit: | Fenelon | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 9/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 5-9-2018: Wallbridge Mining Company Ltd. announces an Exploration/Drilling Update report for its Fenelon deposit at the Fenelon project. Drilling results incl. 4.10m @ 137.63g/t Au from 72.50m. TORONTO, Sept. 5, 2018 /CNW/ - Wallbridge Mining Company Limi | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Attila Pentek (Internal) | |
| ABSTRACT: | TORONTO, Sept. 5, 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 drilling to date has mainly focused on the top 100 metres of the deposit. The successful results to date indicate that our original exploration target of 400 ounces per vertical metre has now increased to a range of 800-1,000 ounces per vertical metre and the continued drilling is proving this up in preparation for the updated resource to be completed after the bulk sample," stated Marz Kord, President & CEO of Wallbridge Mining Company. "This is very comparable to other wellknown, high grade Abitibi gold deposits. The planned 2018 drilling from underground and surface should allow us to define the extension and size potential of the deposit to 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. 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. "With most of the stope definition drilling completed, we will now entirely focus on resource expansion. The underground drill rig will continue to target high-grade shoots in the current footprint of the mine workings, whereas our surface rig, which is being mobilized later this month, will be testing zones further away. We are eager to continue exploring the broader environment around the known deposit to discover new high-grade gold zones that can easily be added to future production." stated Attila Péntek, Vice-President, Exploration of Wallbridge. | |
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