Wallbridge Provides 2018 Update on Fenelon Bulk Sample and Exploration Program
Wallbridge Provides 2018 Update on Fenelon
Bulk Sample and Exploration Program
TORONTO, Dec. 13, 2018 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:WC7)
("Wallbridge" or the "Company") is pleased to announce continued positive results from its
underground as well as surface drill programs 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" or "Property").
Highlights:
On target to achieve bulk sample production guidance of 35,000 tonnes grading 18-25 grams
per tonne of gold for production of 19,000-26,000 ounces of gold.
Mill recoveries have reached forecast levels.
13,500 tonnes of ore processed at the Camflo Mill in September and November mill runs.
10,000 metres drilled underground in 2018, with visible gold observed in over 50% of drill holes
and approximately 5,000 metres of surface drilling.
Underground and surface drilling to date has been successful at extending known gold zones
and discovering new parallel zones.
Encouraged by exploration results and currently evaluating a substantial exploration program for
2019.
"We are very encouraged by the results from the Fenelon bulk sample to date and confidently
maintain our previous guidance for production of 35,000 tonnes at grades of 18 to 25 grams per
tonne producing 19,000 to 26,000 ounces of gold. The current bulk sample that started in the
second quarter of this year is about halfway completed. Although schedule to reach the bottom
levels is about 4 to 6 weeks behind the original plan due to some additional development, the stope
production in terms of tonnage and grade is very close to our original estimates. The mill recoveries
have now reached forecast levels and we are confident in reaching our targets in all areas of
production and exploration. The benefit of the bulk sample is that it has allowed us to get a head
start on mine development as we test various mining areas and at the same time explore to define
additional ounces not only in the vicinity of the existing planned infrastructure but also to depth."
stated Marz Kord, President & CEO of Wallbridge.
"The exploration drilling we have done over the past year at Fenelon has significantly expanded the
extent of high-grade gold mineralization at shallow depths near infrastructure, has resulted in the
discovery of several new high-grade zones and has improved our understanding of the nature of the
gold mineralization to depth. We are proud of the team at Wallbridge and look forward to further
expanding and de-risking the project and building additional resources and reserves for years to
come."
Bulk Sample Production Update
Following the dewatering of the pit and underground and rehabilitation of existing infrastructure, ramp
Click to view
development began in mid-June which was quickly followed with first stope production in August.
To end of November, production from three stopes as well as historical low-grade ore on site has
generated more than 18,000 ore tonnes of which 13,500 were delivered and processed at the
Camflo Mill during the first two mill runs in September and November. Wallbridge, in its original bulk
sample plans, included the historical low-grade ore as part of the first mill run while milling
performance was optimized. Lessons learned from the first mill run were applied to the second mill
run and recoveries of 96% were achieved.
Two stopes and the historical low-grade ore were part of the first two mill runs. Designed stope
grades ranged from 15.9 to 18.6 grams per tonne of gold and the diluted grades ranged from 13.8
to 14.9 grams per tonne of gold with 4,400 ounces of gold recovered and sold to date.
The next mill runs are scheduled for the months of December, January and February, each with
increasing grades to achieve our target guidance.
"We are very pleased with the results we have achieved to date. Our team continues to focus on
safely delivering the bulk sample, liaising with local and first nation communities and learning as we
move forward. I am excited about our continued exploration activities with the goal of building a long-
lasting operation in the area," stated
Frank Demers
, Vice-President, Mining & Projects.
Fenelon Geology & Exploration
"The underground exposures of mineralized structures along with the rigorous grade control routine
involving detailed mapping, state-of-the-art 3D photogrammetry and high frequency of chip, muck
and test hole sampling is providing us with invaluable information on the geology, the structural
controls and grade variability of the different gold-bearing mineralized zones which will inform future
exploration, resource estimates and production decisions," stated Attila Péntek, Vice-President,
Exploration of Wallbridge. "We are very proud of our geology team, which has managed the bulk
sample grade control as well as the drill programs extremely well and have developed a deep
understanding of the deposit."
The 2018 underground drill program commenced in early June and to date a total of over 10,000
metres have been drilled and visible gold was observed to be present in 50 of the 90 drill holes.
Initially, drilling has mainly targeted the high-grade shoots down to 5130 Level (~120 m depth),
which is the lowermost level being developed during the 2018 bulk sample program. Stopes that are
part of the bulk sample were drilled-off to a nominal 6 to
7 m
spacing and the drill results have
validated the geological model and proven the continuity of high-grade shoots. Consistent high-grade
intersections from this stope in-fill drill program support the 18 to 25 g/t gold estimated grade for the
35,000-tonne bulk sample with previously announced highlights including (see Wallbridge Press
Releases from
July 25, 2018
to
November 20, 2018
):
18-1035-019:
137.63 g/t gold over 4.85 metres
in the Naga Viper zone
18-1035-005:
48.81 g/t gold over 6.13 metres
in the Naga Viper zone
18-1035-017:
50.31 g/t gold over 10.13 metres
in the Chipotle zone
18-1035-013:
144.96 g/t gold over 2.12 metres
in the Chipotle zone
This year's program also successfully delineated a high-grade shoot in the Habanero Zone, which
was discovered as part of the Company's 2017 surface drilling. The high-grade domain in this
mineralized structure has shown excellent continuity with over 20 drill intersections yielding grades
between 6.29 to 122.35 g/t gold over mineable width. Previously announced highlights include (see
Wallbridge Press Releases from
September 19, 2018
to
November 20, 2018
):
54.45 g/t gold over
7.79 metres
in 18-0990-011,
122.35 g/t gold over 2.95 metres
in 18-0990-007,
41.02 g/t gold
over 5.52 metres
in 18-0990-010. Also, in the West extension area, the Paprika zone has provided
some respectable intersections including previously announced
134.57 g/t gold over 1.70 metres
in
18-0990-017 and
35.91 g/t gold over 3.42 metres
in 18-1030-009.
Currently, underground drilling is targeting the main high-grade shoots down-plunge to
200 m
depth. Since the last press release (see
Wallbridge Press Release dated
November 20, 2018
),
highlights of received assay results are as follows:
18-1000-007:
11.22 g/t gold over 10.10 metres
, including
42.91 g/t gold over 2.35 metres
in the
Habanero zone
18-1110-004:
13.62 g/t gold over 4.27 metres
in the Naga Viper zone
18-1130-004:
6.23 g/t gold over 4.88 metres
, including
39.35 g/t gold over 0.60 metres
in the
Naga Viper zone
"In addition to confirming our geological model and delineating the bulk sample stopes, the
underground drill program has been very successful in discovering additional ounces proximal to the
mine workings that we will be able to put into production with very minimal additional development,"
stated Attila Péntek, Vice-President, Exploration of Wallbridge.
Surface drilling is also underway with two drill rigs and so far approximately 5,000 metres have been
drilled in 15 drill holes. This program is aimed at following known mineralized zones and expand
resources to 300-400 metres depth as well as further away from the mine workings.
Mineralized zones containing chalcopyrite, an indicator mineral for the gold-bearing system, were
intersected in seven of the drill holes and visible gold was observed in drill hole FA-18-038 at a
vertical depth of 325 metres, making this the deepest occurrence of visible gold-bearing
mineralization drilled so far at Fenelon. Other deep holes drilled so far (FA-18-040, -044 and -047)
confirm the depth extensions of gabbroic host lithologies and the mineralized shear zones.
Assay results from 15 underground drill holes and 13 surface drill holes are pending.
A summary of the drill hole results from the underground drilling can be viewed on the
Company website
.
Table 1. Wallbridge Fenelon Gold Property 2018 Underground drill hole information*
Drill Hole ID
Local grid
E
Local grid
N
Elevation
Length
(Metres)
Azimuth
Dip
VG/CP**
Note
18-1120-004
10644
]
10954
5214
72
202
-17
CP
Further Assays pending
18-1110-002
10636
10959
5214
102
204
-41
VG
Further Assays pending
18-1110-003
10636
10959
5214
75
205
-17
CP
Assays pending
18-5175-001
10580
10986
5177
210
239
-36
CP
Further Assays pending
18-5175-002
10580
10986
5177
150
242
-26
VG
Further Assays pending
18-5175-003
10580
10986
5177
156
232
-34
CP
Assays pending
18-5175-004
10580
10986
5177
156
226
-35
CP
Assays pending
18-5175-005
10580
10986
5177
130
221
-28
VG
Assays pending
18-5175-006
10580
10986
5177
147
212
-37
CP
Assays pending
18-5175-007
10580
10986
5177
205
228
-43
CP
Assays pending
18-5175-008
10580
10986
5177
180
220
-41
CP
Assays pending
18-5175-009
10580
10986
5177
207
210
-48
Assays pending
18-5175-010
10580
10986
5177
160
195
-42
CP
Assays pending
18-5175-011
10580
10986
5177
200
191
-48
CP
Assays pending
18-5175-021
10580
10986
5177
132
242
-19
VG
Assays pending
*
Table includes only underground holes for which assays are pending. For earlier holes please refer to tables in previous press releases.
**
Intervals containing visible gold ("VG") or chalcopyrite-bearing mineralized shear zone ("CP").
Table 2. Wallbridge Fenelon Gold Property 2018 Surface drill hole information*
Drill Hole ID
Local
grid E
Local grid
N
Elevation
Length
(Metres)
Azimuth
Dip
VG/CP**
Note
FA-18-034
10224
10828
5258
192
25
-55
Assays pending
FA-18-035
10224
10828
5258
228
25
-62
Assays pending
FA-18-037
10458
11053
5260
201
234
-47
CP
Further assays pending
FA-18-038
10458
11053
5260
586
240
-54
VG
Assays pending
FA-18-039
10752
10825
5257
263
25
-50
CP
Assays pending
FA-18-040
10459
11054
5261
528
246
-48
Assays pending
FA-18-041
10752
10825
5262
201
32
-62
CP
Assays pending
FA-18-042
10752
10825
5262
243
10
-72
CP
Assays pending
FA-18-043
10752
10825
5262
222
55
-60
Assays pending
FA-18-044
10750
1130
5260
651
195
-51
CP
Assays pending
FA-18-045
10242
10807
5257
204
25
-50
Assays pending
FA-18-046
10242
10807
5257
225
25
-57
Assays pending
FA-18-047***
10634
11123
5260
498
210
-60
CP
Assays pending
FA-18-048
10242
10807
5257
372
17
-70
Assays pending
FA-18-049
10242
10807
5257
185
39
-51
Assays pending
*
Table includes only underground holes for which assays are pending. For earlier holes please refer to tables in previous press releases.
**
Intervals containing visible gold ("VG") or chalcopyrite-bearing mineralized shear zone ("CP").
***
Drilling of this hole is currently underway, length of hole will be updated in future press releases once completed
Wallbridge's Fenelon Gold Property is located in northwestern
Quebec
proximal to the Sunday Lake
Deformation Zone ("SLDZ") which hosts the Detour Gold Mine in
Ontario
, and Balmoral Resources'
gold deposits at Martiniere. The Fenelon Gold Property hosts the Discovery Zone gold deposit and
surrounding 4 km strike length of a gold-hosting secondary splay of the SLDZ.
Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate
and a positive pre-feasibility study on the existing resource (see
Wallbridge Press Release dated
February 02, 2017
). In addition, Wallbridge has completed surface
exploration drilling campaigns and is currently drilling from underground as part of its 35,000-tonne
bulk sample at Fenelon. Drilling to date has significantly extended existing zones and discovered
several new parallel zones.
Drill core samples from the ongoing drill program at Fenelon were cut and bagged on site and
transported to SGS Canada Inc. Samples, along with standards, blanks, and duplicates included for
quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. 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. Samples >10g/t Au are automatically
analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold
and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis
for samples 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 Persons responsible for the technical content of this press release are
Marz Kord
, P.
Eng., M. Sc., MBA, President & CEO and Attila Péntek, P.Geo., Ph.D., Vice President Exploration
for Wallbridge Mining Company 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 developing its 100%-owned high-grade Fenelon Gold property in
Quebec
with
ongoing exploration and a bulk sample 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
Sudbury
, which was completed in
October 2015
. As part of
this strategy, the Company recently optioned the Beschefer Project, an advanced gold property with
proven size and grade-potential near Fenelon Gold. 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 exploration for copper and gold in
Jamaica
and
British Columbia
through its 11.3% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources
Limited, a Wallbridge spin-out of its BC assets).
This press release may contain forward-looking statements (including "forward-looking
information" within the meaning of applicable Canadian 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 expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or statements that certain actions, 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-looking
statements, including, without limitation, the costs associated with the development 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 results, level of activity, performance or outcomes of such exploration and/or mine
development to be materially different from those expressed or implied by such forward-
looking statements including, without limitation, whether such discoveries will result in
commercially viable quantities of such mineralized materials, the possibility of changes to
project parameters as plans continue to be refined, the ability to execute planned
exploration and future drilling programs, the need for additional funding to continue
exploration and development efforts, changes in general 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 public filings. Forward-looking
statements are not guarantees of future performance and such information 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
factors 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 addition, 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. The 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 Kord, 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: [email protected]
CO: Wallbridge Mining Company Limited
CNW 07:30e 13-DEC-18