Wallbridge Announces Receipt of Permits, Approval to Proceed with Bulk Sample at Fenelon Gold
Wallbridge Announces Receipt of Permits, Approval to Proceed with Bulk Sample
at Fenelon Gold
TORONTO, Jan. 16, 2018 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7 )
("Wallbridge") is pleased to announce three significant milestones toward commencement of the
planned 35,000 tonne bulk sample at its 100%-owned Fenelon Gold property:
• receipt of the Certificate of Approval (" C of A ") from the Ministère du Développement durable, de
l'Environnement et de la Lutte contre les changemen ts climatiques ("MDDELCC");
• the hiring of Mr. Marc Leclair as Project Manager; and,
• Board approval and the start of preparations for c ommencement of the bulk sample.
"We are excited to have received all the required permits to proceed with the Fenelon bulk sample,"
stated Marz Kord, President and CEO. "The bulk samp le will enable Wallbridge to better evaluate the
grade and ultimate size potential of the Fenelon deposit. Drilling from underground will enable us to
demonstrate the grade and continuity of the deposit in the top 100 metres and to better follow the
deposit's extensions along strike and to depth."
With the C of A in hand, Wallbridge has received approval from the Board of Directors to move forward
with the bulk sample. Preparations for dewatering the existing underground workings, treating the wate r
prior to discharge, extending the underground ramp and level developments and extracting 35,000 tonnes
of ore have begun. Dewatering of the first level is expected to be complete in April, at which time th e
Company plans to move a drill underground for definition and exploration drilling. Wallbridge expects to
begin ore delivery in the second half of 2018 and completion of the bulk sample during 2018.
In addition, Wallbridge has hired Mr. Marc Leclair, a seasoned mining professional as the Project
Manager for the Fenelon bulk sample. Mr. Leclair has more than 30 years of mining experience in large
and small mines and startup operations in particular. Most recently, Mr. Leclair was the underground m ine
superintendent at Island Gold Mine in Wawa and prior to that he worked at Sudbury operations of
Glencore.
"Marc Leclair brings his managerial experience in starting small operations to the Wallbridge team,"
stated Mr. Kord, CEO of Wallbridge. "We are extreme ly pleased to have Marc leading the Fenelon team
as we advance the project through the bulk sample towards a production decision."
The Qualified Person responsible for the technical content of this press release is Marz Kord, P. Eng., M.
SC., MBA, President & CEO for Wallbridge Mining Com pany Limited.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue as
well as organic growth through exploration and scalability.
Wallbridge is currently preparing to develop its 100%-owned high-grade Fenelon Gold Property in
Quebec with ongoing exploration and a bulk sample targeted to start in 2018. Wallbridge is also pursuing
other additional advanced stage projects which would add to the Company's near term project
pipeline. These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and
efficiently mining the Broken Hammer deposit in Sud bury, which was completed in October
2015. Wallbridge is also continuing partner-funded exploration on its large portfolio of nickel, copper, and
PGM projects in Sudbury, Ontario, with a focus on its high-grade Parkin project.
Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia
through its 12.7% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources
Limited).
This press release may contain forward-looking stat ements (including "forward-looking
information" within the meaning of applicable Canad ian securities legislation and "forward-
looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995)
relating to, among other things, the operations of Wallbridge and the environment in which it
operates. Generally, forward-looking statements can be identified by the use of words such as
"plans", "expects" or "does not expect", "is expect ed", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain action s, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved ". Wallbridge has relied on a number of
assumptions and estimates in making such forward-lo oking statements, including, without
limitation, the costs associated with the developme nt and operation of its properties. Such
assumptions and estimates are made in light of the trends and conditions that are considered to
be relevant and reasonable based on information available and the circumstances existing at this
time. A number of risk factors may cause actual res ults, level of activity, performance or
outcomes of such exploration and/or mine developmen t to be materially different from those
expressed or implied by such forward-looking statem ents including, without limitation, whether
such discoveries will result in commercially viable quantities of such mineralized materials, the
possibility of changes to project parameters as pla ns continue to be refined, the ability to execute
planned exploration and future drilling programs, t he need for additional funding to continue
exploration and development efforts, changes in gen eral economic, market and business
conditions, and those other risks set forth in Wallbridge's most recent annual information form
under the heading "Risk Factors" and in its other p ublic filings. Forward-looking statements are
not guarantees of future performance and such infor mation is inherently subject to known and
unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the
control of Wallbridge. Although Wallbridge has attempted to identify important risks and factors
that could cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other fact ors and risks that cause actions, events or
results not to be as anticipated, estimated or intended. Consequently, undue reliance should not
be placed on such forward-looking statements. In ad dition, all forward-looking statements in this
press release are given as of the date hereof.
Wallbridge disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, save and except
as may be required by applicable securities laws. T he forward-looking statements contained
herein are expressly qualified by this disclaimer.
SOURCE Wallbridge Mining Company Limited
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For further information: Please visit the Company's website at www.wallbridgemining.com or
contact: Wallbridge Mining Company Limited, Marz Ko rd, P. Eng., M. SC., MBA, President & CEO,
Tel: (705) 682-9297 ext. 251, Email: [email protected]; David Ellis, Investor Relations,
Tel: (416) 704-0937, Email: dellis@wallbridgemining .com
CO: Wallbridge Mining Company Limited
CNW 10:05e 16-JAN-18