Wallbridge Intersects 237.81 g/t Gold over 7.02 metres with Step-Out Drilling on the Fenelon Gold Property in Quebec
Wallbridge Intersects 237.81 g/t Gold over 7.02 metres with Step-Out Drilling on
the Fenelon Gold Property in Quebec
TORONTO, Nov. 9, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7 )
(" Wallbridge ") is pleased to announce initial assay results from its third round of exploration drilling on
the 100% owned Fenelon Gold property ("Fenelon") in Quebec. Results are reported for an initial three
drill holes (FA-17-25, FA-17-26, and FA-17-27). Results for another six holes are pending. Mineralization
remains open along strike and to depth and follow-up drilling is planned as part of the pending bulk
sample for which permits are expected this year.
Highlights
• Drill hole FA-17-26 intersected two significant mi neralized intervals including 237.81 g/t gold over
7.02 metres from 139.83 metres downhole within the Viper Zone, stepping-out below the previous
FA-17-07 and FA-17-17 intersections.
• Drill hole FA-17-27 intersected 122.25 g/t gold ov er 4.73 metres from 130.12 metres downhole within
the Habanero Zone with a higher-grade sub-interval of 362.83 g/t gold over 1.54 metres.
• FA-17-25 intersected two significant mineralized i ntervals including 4.20 g/t gold over 9.29 metres
from 118.04 metres downhole with a higher-grade sub -interval of 7.83 g/t gold over 4.58 metres.
To date, thirty-three exploration drill holes totaling 6,348 metres have been completed at Fenelon in 2017.
The current drilling followed-up previous 2017 Wallbridge drilling on the west extension target where drill
hole FA-17-07 intersected three mineralized zones including 141.16 g/t gold over 7.06 metres in the Viper
Zone (see Wallbridge press release dated April 18, 2017) and FA-17-17 intersecting four mineralized
zones including 311.08 g/t gold over 3.06 metres, also in the Viper Zone (see Wallbridge press release
dated September 5, 2017).
"We continue to be pleasantly surprised by the drill results from Fenelon," stated Marz Kord, President
and CEO of Wallbridge. "We knew when we purchased t he property that there was room to expand the
resource, but to get holes grading in excess of 100 grams over mineable widths in each of our first three
programs is truly remarkable. To date our drilling has been limited to targets at shallow depth near the
existing ramp and we are really just scratching the near surface potential."
"We have applied for permits for an underground bulk sample which we hope to receive shortly. This wil l
allow us to dewater the existing ramp and extend development down to 5150 level (100 metres from
surface) from which point we can assess the nature of the high grade mineralization by extracting arou nd
35,000 tonnes of ore. This development will also provide a platform from which to drill the extensions of
the deposit to depth, as well as to evaluate a numb er of other targets that offer the potential for existence
of new high-grade zones."
"These current results provide evidence that the Fenelon Gold property hosts additional high-grade
mineralization. Due to their proximity to the existing development, we believe that with additional dr illing
we will be able to convert these into resources and ultimately reserves. Our immediate focus is the
completion of the bulk sample in 2018 as well as increasing the mineral resources and reserves by
exploring extensions of the known deposit and testing other targets on the property."
A summary of the assay results from this third round of exploration drilling are reported in Table 1 and 2
and also shown on Figures 1, 2, 3, and 4, below. Additional information is available on Wallbridge's
website at http://www.wallbridgemining.com/s/fenelon.asp .
Table 1. Fenelon exploration drilling assay results.
Drill Hole From To From To Length* Au Au Capped** VG*** Zone
(m) (m) (m) (m) (m) (g/t) (g/t)
FA-17-25
32.06 32.65 0.59 8.10 8.10 VG Cayenne
118.04 127.33 9.29 4.20 4.20 VG Habanero
Including... 122.75 127.33 4.58 7.83 7.83 VG Habanero
151.26 154.57 3.31 0.41 0.41 Viper
FA-17-26
16.10 22.12 2.47 1.23 1.23 New Zone
Including... 16.10 16.57 0.47 4.87 4.87 New Zone
139.83 146.85 7.02 237.81 72.65 VG Viper
FA-17-27 130.12 134.85 4.73 122.25 22.46 VG Habanero
FA -17 -27 Including... 130.56 132.10 1.54 362.83 56.34 VG Habanero
FA -17 -28 Visible Gold Identified, Assays Results Pending
FA -17 -29 Assays Results Pending
FA -17 -30 Visible Gold Identified, Assays Results Pending
FA -17 -31 Assays Results Pending
FA -17 -32 Visible Gold Identified, Assays Results Pending
FA -17 -33 Assays Results Pending
*Drill core length. The true width is 66-78 % of the drill core length.
**Au capped at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate.
***Intervals containing visible gold ("VG").
Figure 1. Photo of gold intersection in Fenelon Drill Hole FA-17-26
http://www.wallbridgemining.com/i/photos/20171109_F ig_1.jpg
Figure 2. Fenelon plan view showing recent drill holes.
http://www.wallbridgemining.com/i/pdf/20171109_Fig_ 2.pdf
Figure 3. Fenelon composite long section showing recent drill holes.
http://www.wallbridgemining.com/i/pdf/20171109_Fig_ 3.pdf
Figure 4. Fenelon detailed long section showing west extension target.
http://www.wallbridgemining.com/i/pdf/20171109_Fig_ 4.pdf
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 ongoing exploration to
expand the resource, Wallbridge received a Certific ate of Non-Liability (Attestation de Non-
Assujettissement) 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. The underground bulk sample at Fenelon is expected to
commence before the end of 2017.
Table 2. Fenelon Gold Property drill hole informati on.
Drill Hole ID UTM E UTM N Elevation Length (Metres) Azimuth Dip
FA-17-25 670482 5542115 262 180 23 -66
FA-17-26 670482 5542115 262 180 36 -67
FA-17-27 670482 5542115 262 180 37 -67
FA-17-28 670405 5542132 262 155 38 -54
FA-17-29 670405 5542131 262 165 35 -61
FA-17-30 670405 5542131 262 171 28 -61
FA-17-31 670404 5542132 262 162 18 -53
FA-17-32 670404 5542132 262 165 3 -48
FA-17-33 670404 5542132 262 168 8 -62
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 gold 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 07:30e 09-NOV-17