Wallbridge Reports up to 99% Recovery of Gold from Metallurgical Testing in Tabasco and Area 51
WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com
129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e [email protected]
Wallbridge Reports up to 99% Recovery of Gold from Metallurgical Testing in Tabasco and Area 51
Toronto, Ontario – September 3, 2020 – Wallbridge Mining Compan y Limited (TSX:WM) (“Wallbridge” or the
“Company”) today reports that it has completed the first phase of metallur gical testing of the Tabasco and Area 51 zones
from Wallbridge’s Fenelon Gold Project (“Fenelon”) at SGS Labor atories (“SGS”), achieving gold recoveries up to
99.1% using conventional and proven technologies.
The goals of this latest round of metallurgical testing by SGS were to evaluate gold recovery for various grind sizes and
processing technologies for representative material from Tabasco and Area 51 zones.
Representative samples from low-grade and high-grade areas of the Tabasco (Figure 1) and Area 51 (Figure 2) zones were
tested for their amenability to gravity separation as well as c yanidation under varying grind sizes and conditions (Table 1).
Testing shows total recoveries using gravity and cyanidation of up to 99.1%; gravity recoveries of gold reached 84.1%.
“These initial metallurgical results are very positive and achieve a number of important objectives,” stated Marz Kord,
President & CEO of Wallbridge Mining Company Limited. “First, they demonstrate that very high gold recoveries can be
expected from Tabasco and Area 51 mineralization. Second, they indicate these recoveries can be achieved using time-
tested technologies that are readily available. Finally, they confirm the quality and consistency of the Tabasco and Area
51 mineralized package that we saw in the Main Gabbro during the bulk sample in 2018-19.”
Metallurgical test work results:
Preliminary metallurgical test work done on the Tabasco and Are a 51 zones returned excellent results achieving gold
recoveries up to 99.1%. The test work was carried out on three composites prepared from assay lab rejects from fourteen
individual holes. The results are comparable to the results ach ieved to date from the Main Gabbro zone in laboratory and
bulk sample ore processing.
Table 1: Sample Test Summary
Sample Details Feed Gravity Total
Size % Recovery
P80, µm Au % Au Calc. Grav+CN
TBC-HG Whole Ore Leach 47 … 98.9 25.8 … 25.7
Comp Whole Ore & CIP 46 … 99.0 24.4 …
Gravity & Cyanidation 59 84.1 99.1 4.47 28.1
Gravity & Cyanidation 69 40.5 98.8 14.2 23.9
Gravity & Cyanidation 97 36.1 98.5 16.8 26.2
TBC-LG Whole Ore Leach 45 … 96.8 3.17 … 3.23
Comp Whole Ore & CIP 45 … 95.8 2.16 …
Gravity & Cyanidation 56 64.2 96.9 0.93 2.60
Gravity & Cyanidation 69 29.8 96.0 1.66 2.36
Gravity & Cyanidation 91 48.5 94.6 1.10 2.13
A51-LG Whole Ore Leach 51 … 97.6 1.25 … 0.84
Comp Whole Ore & CIP 51 … 96.6 1.04 ...
Gravity & Cyanidation 53 72.8 96.4 0.23 0.84
Gravity & Cyanidation 68 78.1 97.1 0.22 1.00
Gravity & Cyanidation 102 66.5 95.3 0.22 0.66
Head Grade
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Figure 1: Tabasco Long Section & Distribution of Metallurgical Samples
Figure 2: Area 51 Plan View & Distribution of Metallurgical Samples
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Assay QA/QC and Qualified Persons
Drill core samples from the ongoing drill program at Fenelon ar e cut and bagged either on site or by contractors and
transported to either SGS Canada Inc. or ALS Canada Ltd. for an alysis. Samples, along with standards, blanks and
duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. or ALS
Canada Ltd. laboratories. Samples are crushed to 90% or 95% les s than 2mm. A 1kg riffle split is pulverized to >95%
passing 106 microns or 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, samples
>10g/t Au are automatically analyzed by fire assay with gravime tric 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 var y from time to time due to re-analysis for quality assurance
and quality control.
The Qualified Person responsible for the technical content of t his press release is Francois Chabot, Eng., M.Sc., Manager
Technical Studies of Wallbridge.
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About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will sup port sustainable 100,000 ounce-plus annual gold production
as well as organic growth through exploration and scalability.
The Company is currently advanci ng the exploration and developm ent of its 100%-owned Fenelon Gold Property, which
is located along the Detour-Fenelon Gold Trend, an emerging gol d belt in northwestern Québec with an ongoing, fully
funded 100,000-metre exploration drill program in 2020.
As announced on May 22, 2020, Wallbridge has completed the Plan of Arrangement whereby the Company acquired all
of the issued and outstanding shares of Balmoral, in an all-sto ck transaction. The Balmoral transaction secures for
Wallbridge a buffer of several kilometres surrounding its rapid ly expanding Fenelon discovery providing room for
growth, as well as future mine development flexibility. The tra nsaction also significantly expands Wallbridge's land
holdings in Québec along the Detour-Fenelon Gold Trend (from 10 .5 km 2 to 739.0 km 2), improving the Company's
potential for further discoveries in this under-explored belt.
Wallbridge is also pursuing additional advanced-stage projects which would add to the Company's near-term project
pipeline. Wallbridge is also the operator of, and a 17.8% share holder in, Lonmin Canada Inc., a privately-held company
with a large portfolio of nickel, copper, and PGM projects in Ontario's Sudbury Basin.
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]
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]
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 meanin g 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 actua l
results, level of activity, performance or outcomes of such explor ation 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 resu lt
in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans cont inue
to be refined, the ability to execute planned exploration and fu ture drilling programs, the need for additional funding to cont inue
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 Fact ors" 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
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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 ca use actual actions, events or results to differ
materially from those described in forwar d-looking statements, there may be other fa ctors 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 revi se any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required by appli cable securities laws. The forward-looking
statements contained herein are expressly qualified by this disclaimer.