Wallbridge Identifies New Upside at Fenelon Gold
Wallbridge Identifies New Upside at Fenelon Gold
TORONTO, Dec. 13, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7 )
("Wallbridge") is pleased to release final 2017 exploration results for its 100% owned Fenelon Gold
Property ("Fenelon") in Quebec. Assay results for a final six drill holes and final screen metallic check
assays continue to identify high-grade gold mineralization.
Results from this initial year's exploration drilling program have exceeded expectations and resulted in an
expanded exploration target for the area near existing infrastructure and above 150 metres depth.
Additional surface and underground exploration drilling as well as a 35,000 tonne underground bulk
sample are planned for 2018. Mobilization for the underground program will be initiated upon receipt of
final permits, which are expected this month.
In 2017 and since acquisition, Wallbridge has compl eted 33 drill holes totalling 6,348 metres in three
surface exploration drilling campaigns at Fenelon. Drilling significantly extended existing zones and
discovered several new parallel zones. Previously announced highlights (see Wallbridge press releases
dated April 18, July 12, September 5, and November 9, 2017) include:
• FA-17-07 intersected three zones including 141.16 g/t gold over 7.06 metres in the Viper Zone;
• FA-17-17 intersecting four zones including 311.08 g/t gold over 3.06 metres, also in the Viper Zone;
• FA-17-26 intersecting two zones including 260.44 g /t gold over 7.02 metres, also in the Viper Zone;
and
• FA-17-27 intersecting 80.42 g/t gold over 4.73 met res in the Habanero Zone.
Highlights from the additional six drill holes include:
• Mineralization extended up to 120 metres outwards from the existing deposit;
• Two new gold bearing structures were identified;
• Four holes each intersected multiple mineralized i ntervals with three of the intervals containing
visible gold;
• Drill hole FA-17-30 intersected 18.95 g/t gold ove r 1.02 metres from 45.60 metres down hole;
• Drill hole FA-17-32 intersected 11.30 g/t gold ove r 0.66 metres from 105.55 metres down hole.
The results of the 2017 drilling, along with geological and structural modelling and reinterpretation of the
deposit, have led to an expanded exploration target of an additional 70,000-120,000 ounces gold within
150,000 to 375,000 tonnes grading between 10-15 g/t gold immediately adjacent to the existing
infrastructure and in the top 150 metres from surfa ce. Very little drilling has been carried out below this
depth and the mineralization remains open to depth and along strike. In addition, drill intersections along
the four kilometer strike length of the mineralized structure demonstrate potential for new discoverie s on
the broader property.
This exploration target is in addition to the 2016 resource estimate which included Measured and
Indicated resources of 38,000 ounces gold contained within 91,100 tonnes grading 12.97 g/t gold and
Inferred resources of 1,900 ounces gold contained w ithin 6,500 tonnes grading 9.15 g/t gold (see
Wallbridge press release dated February 2, 2017). T he exploration target is conceptual in nature and
based on drilling results, geological and structural modelling, and the size of untested target areas. The
exploration target is not necessarily indicative of mineralization on the property and significant additional
drilling is required to determine whether a deposit of this size exists.
"We are very excited with the exploration drilling results from this past year at Fenelon. We have
significantly expanded the extent of high-grade gold mineralization at shallow depths near infrastruct ure,
we have discovered several new zones with much high er grades, our understanding of the nature of the
gold mineralization has increased significantly, we are seeing greater exploration upside and expansio n
potential of the deposit than we initially understood, and we remain very optimistic about the discovery
potential on the broader property," stated Marz Kord, President and CEO of Wallbridge, "We look forwar d
to further expanding and de-risking the project in the new year with additional exploration drilling and the
underground bulk sample."
Wallbridge acquired Fenelon in October 2016 and rel eased positive results from a pre-feasibility study
earlier this year (see Wallbridge press release dated March 6, 2017). In addition to exploration to ex pand
the resource, Wallbridge received a declaration of exemption from the Government of Quebec for the
dewatering of the pit and ramp and a 35,000 tonne bulk sample and has submitted an application for a
certificate of authorization ("C of A") from the regional authority responsible for issuing permits. T he
underground bulk sample at Fenelon is expected to commence this month and be completed in 2018
along with additional exploration drilling.
A summary of the final results from the 2017 surface exploration drilling are reported in Table 1 and
shown on Figures 1 and 2, below. Additional informa tion is available on Wallbridge's website at
http://www.wallbridgemining.com/s/fenelon.asp .
Figure 1. Fenelon plan map showing 2017 drill holes .
http://www.wallbridgemining.com/i/pdf/20171213_Fig1 .pdf
Figure 2. Fenelon composite long section highlighti ng 2017 drill intersections outside of the
previously defined deposit.
http://www.wallbridgemining.com/i/pdf/20171213_Fig2 .pdf
Table 1. Summary of full year Fenelon exploration d rilling assay results (new and previously
released).
Drill Hole From To From To Length 1 Au 2 Au 3 VG 4 Zone Program
m m m m m
g/t
(AA/
GRA)
g/t
(SCR)
FA-17-01 No assays >1 g/t Spring 5
FA-17-02 91.66 92.00 0.34 1.04 New Zone Spring 5
FA-17-02 113.38 114.23 0.85 1.28 Habanero Spring 5
FA-17-02 133.42 138.00 4.58 3.04 Viper Spring 5
FA-17-02 Including... 134.43 135.00 0.57 8.86 Viper Spring 5
FA-17-03 No assays >1 g/t Spring 5
FA-17-04 No assays >1 g/t Spring 5
FA-17-05 No assays >1 g/t Spring 5
FA-17-06 16.23 17.43 1.20 1.00 Cayenne Spring 5
FA-17-06 27.00 28.01 1.01 1.35 New Zone Spring 5
FA-17-07 29.42 30.17 0.75 3.86 Cayenne Summer 6
FA-17-07 67.10 67.82 0.72 10.25 10.95 New Zone Spring 5
FA-17-07 87.68 91.13 3.45 4.28 4.70 VG Habanero Spring 5
FA-17-07 Including... 89.77 90.31 0.54 15.85 18.55 VG Habanero Spring 5
FA-17-07 122.10 129.16 7.06 149.08 141.16 VG Viper Spring 5
FA-17-07 Including... 125.44 129.16 3.72 281.30 266.27 VG Viper Spring 5
FA-17-08 86.90 87.52 0.62 13.20 4.80 New Zone Spring 5
FA-17-08 125.09 127.77 2.68 5.16 5.37 VG Tabasco Spring 5
FA-17-08 Including... 125.09 125.48 0.39 32.30 33.80 VG Tabasco Spring 5
FA-17-08 129.74 130.73 0.99 2.24 Tabasco? Spring 5
FA-17-09 30.90 32.00 1.10 4.99 New Zone Spring 5
FA-17-09 62.56 63.30 0.74 12.00 8.41 VG New Zone Spring 5
FA-17-09 146.11 147.28 1.17 9.72 Tabasco Spring 5
FA-17-10 No assays >1 g/t Summer
FA-17-11 No assays >1 g/t Summer 6
FA-17-12 240.15 245.76 5.61 1.21 1.15 VG Scorpion Summer 6
FA-17-12 Including... 244.34 245.76 1.42 3.84 3.57 VG Scorpion Summer 6
FA-17-13 265.30 266.77 1.47 0.28 1.79 VG Chipotle Summer 6
FA-17-14 No assays >1 g/t Summer 6
FA-17-15 No assays >1 g/t Summer 6
FA-17-16 26.50 27.12 0.62 8.25 6.50 VG Cayenne Summer 6
FA-17-16 76.64 77.49 0.85 6.93 Habanero Summer 6
FA-17-16 117.92 118.36 0.44 5.77 Paprika Summer 6
FA-17-16 125.65 131.85 6.20 1.76 2.25 VG Viper Summer 6
FA-17-16 Including... 128.72 129.77 1.05 9.60 12.40 VG Viper Summer 6
FA-17-17 33.36 33.97 0.61 2.81 Cayenne Summer 6
FA-17-17 110.92 115.37 4.45 21.95 22.28 VG Habanero Summer 6
FA-17-17 Including... 111.89 113.32 1.43 65.34 66.06 VG Habanero Summer 6
FA-17-17 126.97 132.19 5.22 6.13 6.15 VG Paprika Summer 6
FA-17-17 Including... 128.08 129.81 1.73 14.50 14.56 VG Paprika Summer 6
FA-17-17 134.86 137.92 3.06 346.55 311.08 VG Viper Summer 6
FA-17-17 Including... 135.21 136.77 1.56 678.71 609.15 VG Viper Summer 6
FA-17-18 121.36 126.00 4.64 10.28 7.83 VG Viper Summer 6
FA-17-18 Including... 125.11 126.00 0.89 47 34.60 VG Viper Summer 6
FA-17-18 132.00 134.45 2.45 5.93 4.25 Chipotle Summer 6
FA-17-18 Including... 132.00 133.05 1.05 13.55 9.63 Chipotle Summer 6
FA-17-19 116.72 123.59 6.87 12.19 12.29 VG Habanero Summer 6
FA-17-19 Including... 120.78 122.56 1.78 44.34 44.71 VG Habanero Summer 6
FA-17-20 28.42 28.83 0.41 13.90 18.45 VG Cayenne Summer 6
FA-17-20 76.80 80.75 3.95 1.35 Habanero Summer 6
FA-17-20 114.40 117.10 2.70 4.09 3.81 VG Viper Summer 6
FA-17-20 Including... 116.47 117.10 0.63 17.10 15.90 VG Viper Summer 6
FA-17-21 No assays >1 g/t Summer 6
FA-17-22 36.00 36.76 0.76 86.80 67.00 VG Cayenne Summer 6
FA-17-22 123.19 125.44 2.25 3.93 Paprika Summer 6
FA-17-23 44.12 45.00 0.88 2.93 Cayenne Summer 6
FA-17-23 132.00 140.76 8.76 3.22 3.31 VG Habanero Summer 6
FA-17-23 Including... 132.00 134.99 2.99 9.12 9.37 VG Habanero Summer 6
FA-17-24 No assays >1 g/t Summer 6
FA-17-25 32.06 32.65 0.59 6.64 8.10 VG Cayenne Fall 7
FA-17-25 118.04 127.33 9.29 4.24 4.20 VG Habanero Fall 7
FA-17-25 Including... 122.75 127.33 4.58 7.90 7.83 VG Habanero Fall 7
FA-17-25 151.26 154.57 3.31 0.41 Viper Fall 7
FA-17-26 16.10 22.12 2.47 1.23 New Zone Fall 7
FA-17-26 Including... 16.10 16.57 0.47 4.87 New Zone Fall 7
FA-17-26 139.83 146.85 7.02 237.81 260.44 VG Viper Fall 7
FA-17-27 130.12 134.85 4.73 122.25 80.42 VG Habanero Fall 7
FA-17-27 Including... 130.56 132.10 1.54 362.83 238.71 VG Habanero Fall 7
NEW ASSAYS THIS PRESS RELEASE
FA-17-28 51.00 51.41 0.41 1.16 Cayenne Fall 8
FA-17-28 107.07 109.97 2.90 2.25 Habanero Fall 8
FA-17-28 118.50 119.96 1.46 1.46 2.14 VG Paprika Fall 8
FA -17 -29 No assays >1 g/t Fall 8
FA-17-30 26.16 27.60 1.44 1.37 New Zone Fall 8
FA-17-30 56.77 57.39 0.62 2.34 3.00 VG Cayenne Fall 8
FA-17-31 45.60 46.62 1.02 10.25 18.95 Cayenne Fall 8
FA-17-31 58.16 58.68 0.52 1.10 New Zone Fall 8
FA-17-32 16.10 16.64 0.54 1.09 New Zone Fall 8
FA-17-32 104.97 107.36 2.39 3.56 3.26 VG Habanero Fall 8
FA -17 -32 Including... 105.55 106.21 0.66 12.40 11.30 VG Habanero Fall 8
FA -17 -33 No assays >1 g/t Fall 8
1Drill core length. The true width is 66-78 % of the drill core length.
2Au concentrations obtained by fire assay and atomic absorption ("AA"). For samples >100g/t Au, 50g is also analyzed by fire assay with
gravimetric ("GRA") finish.
3Au concentrations obtained by screen metallic ("SCR") analysis for samples >10g/t Au or containing visible gold.
4Intervals containing visible gold ("VG").
5Previously disclosed, see Wallbridge press release dated April 19, 2017.
6Previously disclosed, see Wallbridge press release dated September 5, 2017.
7Previously disclosed, see Wallbridge press release dated November 9, 2017.
8Previously unreleased assays, hole locations and header information are provided in Wallbridge press release dated November 9, 2017.
Drill core samples from the recent drill programs at Fenelon were cut and bagged on site and transported
to ALS Chemex. Samples, along with standards, blank s, and duplicates included for quality assurance
and quality control, were prepared and analyzed at ALS Chemex Ltd. laboratories. Samples are crushed
to 90% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns. 50g samples are
analyzed by fire assay and AAS. For samples >100g/t Au, 50g is automatically analyzed by fire assay
with gravimetric finish which are reported as final assays. To test for coarse free gold and for additional
quality assurance and quality control, Wallbridge requests screen metallic analysis for samples >10g/t Au
or containing visible gold. These and future assay results may vary from time to time due to re-analysis
for quality assurance and quality control.
The Qualified Person responsible for the technical content of this press release is Attila Pentek, P.Geo.,
Ph.D., Senior Geologist for Wallbridge Mining Company Limited. Mr. Pentek has prepared, supervised
and approved the scientific and technical disclosures in this press release.
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 2017. Wallbridge is also in
discussions regarding several other advanced stage projects which could become the Company's next
mines. 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, Joshua Bailey, P.Geo., M.Sc., MBA, Vice President
Exploration, Tel: (705) 682-9297 ext. 240, Email: [email protected]; David Ellis, Investor
Relations, Tel: (416) 704-0937, Email: [email protected]
CO: Wallbridge Mining Company Limited
CNW 10:36e 13-DEC-17