Wallbridge Resumes Exploration Drilling at Fenelon Gold Property in Quebec
Wallbridge Resumes Exploration Drilling at Fenelon Gold Property in Quebec
TORONTO, May 31, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7 )
(" Wallbridge ") is pleased to announce that it has resumed exploration drilling at its Fenelon Gold property
("Fenelon") in Quebec. This minimum 2,000 metre pro gram follows successful drill results from surface
earlier this year when five of nine holes intersected significant gold with one drill hole intersecting 7.06
metres of 149.08 g/t gold (see Wallbridge press rel ease dated April 18, 2017).
"Our initial exploration drilling has been quite successful in expanding gold mineralization in multiple
target areas which are still open for expansion and are all in very close proximity to the existing
infrastructure," stated Marz Kord, President and CEO of Wallbridge. "We look forward to continuing the
resource expansion drilling from surface and from u nderground once we secure the permits for an
underground bulk sample."
The drilling will further explore the West Extension Target, which was the focus of the program earlier this
year, and also test the East Extension and Depth Extension Targets. These are shown in the figure belo w
which can also be found on the Wallbridge website at: http://www.wallbridgemining.com/i/maps/Figure-1-
Long-Section-May-31-2017.jpg .
At Fenelon, Wallbridge believes there is an exploration target with potential for between 240,000 and
400,000 ounces gold (600,000 to 1,500,000 tonnes at a grade of between 8 and 12 g/t gold) within a 500
metre strike length in the area of the existing ramp, to a depth of 800 metres. This exploration target is
conceptual in nature and is based on the grade and tonnes per vertical metre of the current resource, and
possible extensions indicated by geological modelling supported by recent drilling results, the size of
untested target areas, and the nature of similar deposits in the region. Wallbridge cautions that ther e has
been insufficient exploration to define a resource of this size and there is a risk that further exploration will
not result in the delineation of a mineral resource of this size. The current drilling program is an early step
in testing selected parts of this exploration target.
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.
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 active partner-funded exploration on its large
portfolio of nickel, copper, and PGM projects in Sudbury, Ontario. Currently, Wallbridge is completing a
20,000 metre fully partner-funded drilling program on its high-grade Parkin nickel-copper-PGM project.
Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia
through its 11.2% 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]; Linda Zubal, Vice
President Corporate Communications, Tel: (705) 682- 9297 ext. 263, Email:
CO: Wallbridge Mining Company Limited
CNW 09:22e 31-MAY-17