Toronto, Ontario – November 16, 2016 – Wallbridge Mining Company (TSX:WM,FWB:WC7) is pleased to announce that it has initiated exploration on its recently acquired Fenelon Gold Mine Property in Quebec.
Toronto, Ontario – November 16, 2016 – Wallbridge Mining Company (TSX:WM,FWB:WC7) is pleased to announce that it has initiated exploration on its recently acquired Fenelon Gold Mine Property in Quebec. The first phase of the program involves a review of historic drilling in close proximity to the mine workings and additional sampling of previously unsampled historic drill core where warranted. The results from the first two batches of these samples have now been received, and include a sample containing visible gold which assayed 89.3 g/t over 0.35 metres.
Highlights from the first two batches of 176 samples include:
- 89.30 g/t gold over 0.35 metres in hole 1050-005
- 4.21 g/t gold over 0.72 metre in hole 1100-001
- 3.91 g/t gold over 0.99 metres in hole 1110-001
- 2.55 g/t gold over 1.57 metres in hole FA-02-214
- 25 of the 176 samples returned greater than 0.5 g/t gold
The first two batches of samples consisted of 176 samples, representing 179 metres of historic drill core which had previously not been sampled. Of these samples 25 (14%) returned values of greater than 0.5 gram per tonne.
Commenting on these very early results, Marz Kord, Wallbridge President and CEO stated, “We are extremely pleased that the early results of our exploration program are starting to confirm our internal assessment upon which we based our acquisition decision, namely that there is considerable upside potential at Fenelon to add ounces in close proximity to the mine workings. This is quite evident from the past and current results of drilling and sampling shown in Figure 1 which highlight the fact that wherever there is a higher density of drilling, gold mineralization has been found. Also evident is the limited amount of drilling over large sections of the property.”
“To date, our sampling of historic drill core has returned an exceptional hit ratio with one in seven samples from drill core which was previously assumed to be unmineralized containing greater than 0.5 grams of gold. In light of these early results which have greatly exceeded our expectations, we are evaluating the need to increase the scope of our infill sampling program”.
“In parallel, we continue our work to complete a prefeasibility study this quarter and advance permitting so that upon confirming positive economics we are in a position to make a production decision in Q2 of 2017”.
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