Wallbridge Intersects 35.91 g/t Gold over 3.42 Metres and Reaches First Mining Level at Fenelon

/ Investing News Network / By

By Anwesha Sengupta

Figure 1 (CNW Group/Wallbridge Mining Company Limited)

Wallbridge Mining Company Ltd. (TSX:WM, FWB:WC7) (“Wallbridge” or the “Company”) is pleased to announce positive initial results from its underground drill program 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”).

Figure 1 (CNW Group/Wallbridge Mining Company Limited)
Figure 2 (CNW Group/Wallbridge Mining Company Limited)
Figure 2 (CNW Group/Wallbridge Mining Company Limited)
Figure 3 (CNW Group/Wallbridge Mining Company Limited)
Figure 3 (CNW Group/Wallbridge Mining Company Limited)
Figure 4 (CNW Group/Wallbridge Mining Company Limited)
Figure 4 (CNW Group/Wallbridge Mining Company Limited)
Figure 5 (CNW Group/Wallbridge Mining Company Limited)
Figure 5 (CNW Group/Wallbridge Mining Company Limited)

Highlights

  • To date, 25 drill holes have been completed totaling nearly 2,500 metres.
  • Visible gold was observed to be present in 18 drill holes.
  • Full assay results of only the first 4 holes have been received so far with highlights as follows:

    18-1030-006: 15.91 g/t gold over 2.41 metres in the Chipotle zone

    18-1030-007: 16.72 g/t gold over 1.40 metres in the Chipotle zone

    18-1030-008: 9.27 g/t gold over 3.59 metres, including 17.37 g/t gold over 1.58 metres in the Chipotle zone

    18-1030-009: 35.91 g/t gold over 3.42 metres, including 63.33 g/t gold over 1.70 metres in the Paprika zone.

  • Assay results from additional 21 drill holes are pending.
  • The 18,000 metres drilling program from underground and surface is planned to continue until December 2018, results of which will be disclosed continuously.
  • Reached the first mining level (5195 Level) with first stope production expected in August

“The progress of our bulk sample is on budget and schedule and importantly without any safety or environmental issues. Since initiating our exploration program in early June of this year, which so far has included nearly 2,500 metres of underground drilling, we have continued to refine and increase the confidence in our geological model and confirm the kind of grades we expect to deliver from this bulk sample,” stated Marz Kord, President & CEO of Wallbridge. “We are quite excited with the high-grade intersections in these first 25 holes, 18 of which have visible gold. Due to their high-grade nature, a more robust assaying technique is needed, namely screen metallic, and as such assaying takes longer. We are eagerly awaiting the results of the rest of the drilled holes and look forward to continuation of the drilling which is planned for the rest of 2018. Over the next several months, we expect to continue to demonstrate the significant growth potential of Fenelon.”

The bulk sample program is designed to test six to seven stopes in several zones. Expected overall grade from these planned stopes is estimated to be 18 to 25 g/t gold. The geology team has developed an extensive sampling program to characterize the mineralized material during this bulk sample. Chip samples are collected from a sampling line across each development face and muck samples are also taken in a regular pattern on surface.

Drilling to date from the 5213 exploration drift has mainly targeted the Chipotle and Naga Viper zones in the upper 100 m, between levels 5132 and 5213. So far, six stopes have been drilled-off to the planned 6 to 7 m nominal spacing providing good confirmation of the geological model and continuity of the high-grade shoots. Drilling is now focusing on four additional stopes in the Naga Viper zone, including the high-grade shoot discovered last year with intersections that included 260.4 g/t Au over 7.02 metres, 141.2 g/t gold over 7.06 metres and 311.1 g/t gold over 3.06 metres (see Wallbridge Press Release dated December 13, 2017).

“Drilling so far has confirmed our modeling of the high-grade shoots and provides us with sufficient information now to optimize the stopes to be taken during the bulk sample. We continue defining high-grade shoots for future production, including some in the Naga Viper and Habanero zones discovered just last year. It will be an exciting phase of in-fill and resource expansion drilling. We will release results of this program as frequently as we receive assays results.”

A summary of the drill hole results from the underground drilling are reported in Tables 1 and 2 and also shown on Figures 1, 2, 3, 4 and 5 below.

Figure 1

Figure 2

Figure 3

Figure 4

Figure 5

Table 1. Wallbridge Fenelon Gold Property 2018 Underground Drill Assay Highlights
Drill Hole From To From To Length True
Width		 Au Au
Capped*		 VG** Zone
(m) (m) (m) (m) (m) (m) (g/t) (g/t)
18-1030-006 27.79 30.20 2.41 2.20 15.91 15.91 VG Chipotle
18-1030-006 Including… 28.50 29.11 0.61 0.56 59.10 59.10 VG Chipotle
18-1030-007 31.26 32.66 1.40 1.08 16.72 16.72 VG Chipotle
18-1030-008 34.47 38.06 3.59 2.76 9.27 9.27 VG Chipotle
18-1030-008 Including… 35.03 36.61 1.58 1.22 17.37 17.37 VG Chipotle
18-1030-009 77.58 81.00 3.42 2.70 35.91 35.91 VG Paprika
18-1030-009 Including… 78.90 80.60 1.70 1.34 63.33 63.33 VG Paprika
18-1030-009 90.00 90.97 0.97 0.75 4.76 4.76 Habanero
18-1030-010 81.00 81.42 0.42 0.32 13.60 13.60 VG Naga …read more

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