Wallbridge Mining Announces Updated Resource for Fenelon Property

Wallbridge Mining Company (TSX:WM,FWB:WC7) announced that it has received the updated mineral resource estimate for Discovery Zone on the Fenelon Property in Quebec which it is in the process of acquiring from Balmoral Resources Ltd.
As quoted in the press release:

Highlights:

• A 90% increase in tonnes, and a 26% increase in contained ounces, relative to the previous historic Measured and Indicated Resource estimate, to 91,100 tonnes grading 12.97 g/t Au containing 38,000 ounces of gold.
• A large proportion of the resource is located in close proximity to existing underground workings at shallow depth.
• The bulk of the resource is located in the first 150m from surface (87% of the tonnes and 91% of the ounces).
• There are several opportunities to add additional resources to the Fenelon Property by drilling 1) depth extensions of the ore shoots that originate in the resource area, 2) in-fill drilling on modelled exploration targets currently not included in the resource, 3) subparallel mineralized zones in the vicinity of the currently identified zones.

Wallbridge Mining President and CEO, Marz Kord, stated:

We are extremely pleased that the InnovExplo resource estimate has confirmed our own work in terms of tonnes, grade, and exploration potential, upon which we based our decision to acquire this very attractive, underground accessible, high-grade gold property. We will be moving forward rapidly to complete the acquisition of the Fenelon Property and advance permitting. Our goal is to, quickly after acquisition, dewater the existing workings and commence additional underground exploration, which together with completion of a feasibility study in early 2017, will allow us to rapidly reach a production decision.

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