Wallbridge Intersects Significant Intervals with Visible Gold During Expanded Exploration Drilling Program at Fenelon Gold Property in Quebec
Wallbridge Intersects Significant Intervals with Visible Gold During Expanded
Exploration Drilling Program at Fenelon Gold Property in Quebec
TORONTO, July 12, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC 7)
(" Wallbridge ") is pleased to announce preliminary results of the ongoing second phase of its exploration
drilling program on the 100% owned Fenelon Gold pro perty ("Fenelon") in Quebec. While assays are still
pending, all fourteen drill holes completed to date have intersected the targeted mineralized structures
with eight drill holes intersecting substantial intervals containing visible gold. Additional drilling from
surface is being planned.
Highlights
• 23 drill holes totaling 4,450 metres completed fro m surface year to date.
• Drilling is following-up on results from earlier i n the year when five of nine holes intersected
significant gold, including 7.06 metres of 149.08 g/t gold (see Wallbridge press release dated April
18, 2017).
• 14 drill holes totaling 2,873 metres have been com pleted as part of the ongoing second phase of
drilling since early June, which has expanded from the 2,000 metres originally planned (see
Wallbridge press release dated May 31, 2017).
• 8 of the 14 drill holes intersected significant in tervals with visible gold.
• All 14 drill holes have intersected the mineralize d structures targeted with a similar range of widths
as previous results.
• Drill holes targeted 12.5 – 25 metre step-outs fro m previous intersections.
• Assays are pending and will be released as they be come available.
"We are excited about the upside at Fenelon. This second drilling campaign has continued to intersect
mineralization in extensions of the known zones, as was the case during the initial program completed
earlier this year. We are optimistic that the assays will further confirm the resource expansion potential in
the near surface. Follow up programs are planned to further expand the resource in the near surface an d
to depth." stated Marz Kord, President and CEO of W allbridge, "It is our intention to continue drilling from
surface and commence an underground bulk sample bef ore the end of 2017. The underground bulk
sample permit is expected to be received by the third quarter of this year, with commencement of the
program shortly thereafter. Once underground, we will be able to confirm the continuity of zones as we ll
as drill more efficiently to expand them".
Figure 1. Longitudinal section showing drill holes.
http://www.wallbridgemining.com/i/maps/Figure-1_Lon g-Section_July-12-2017.pdf
Figure 2. Photo with example of visible gold at 135.50 metres depth in drill hole FA-17-17.
http://www.wallbridgemining.com/i/maps/FA-17-17_135 .5.png
Figure 3. Photo with example of visible gold at 136.75 metres depth in drill hole FA-17-17.
http://www.wallbridgemining.com/i/maps/FA-17-17_136 .75.png
Figure 4. Photo with example of visible gold at 125.52 metres depth in drill hole Fa-17-18.
http://www.wallbridgemining.com/i/maps/FA-17-18_125 .52.png
Figure 5. Photo with example of visible gold at 121 metres depth in drill hole Fa-17-19.
http://www.wallbridgemining.com/i/maps/FA-17-19.png
Wallbridge acquired Fenelon last fall and released results from a positive pre-feasibility study earlier this
year (see Wallbridge press release dated March 6, 2017). Wallbridge is currently permitting an
underground bulk sample at Fenelon which is expecte d to commence later in 2017 and is working to
achieve commercial production in 2018.
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 blanks inserted for quality assurance and quality control,
were prepared and analyzed at ALS Chemex Ltd. labor atories. 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 returning >100g/t Au, 50 g is automatically analyzed by fire assay with
gravimetric finish). For samples >10g/t Au, Wallbridge requests screen metallic analysis of the remaining
pulverised split to test for coarse free gold. Duplicate analysis are also completed.
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 exploration underway and a bulk sample and production decision targeted for 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 Sudbury, which was
completed in October 2015. Wallbridge is also cont inuing 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 12.9% 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]
CO: Wallbridge Mining Company Limited
CNW 08:08e 12-JUL-17