News Bureau

 
 
May 17, 2019

19,755 oz gold processed of Fenelon Sample

Wallbridge Mining Company announces final results from the bulk sample at its 100% owned Fenelon Gold Property. The bulk sample established the Fenelon Gold could be mined at good grades using the relatively low cost bulk mining methods Stope grades ranged from 10.94 to 38.33 g/t gold 33,233 tonnes of ore with a reconciled average grade of 18.49 g/t gold containing 19,755 ounces of gold were processed at the Camflo Mill from the stopes in the bulk sample.

2,277 tonnes of low-grade ore left-over from previous operators with a reconciled grade of 4.23 g/t gold were also processed. All gold has been sold at average realized gold price of CAD$1727.55 per ounce! The permitting process for a second bulk sample is underway. Submissions to the Quebec government for full production permits for the Fenelon Main Gabbro Zones will begin shortly.

"Completing the bulk sample provided valuable information while generating positive cash flow to fund our 50,000 to 70,000 metre exploration drill program at Fenelon," stated Marz Kord, President & CEO of Wallbridge.

"Overall, the bulk sample results met or exceeded our initial projections in terms of grade and gold recovery. The last stope experienced more dilution than anticipated because we tested a larger stope by skipping a sub-level and increasing the stope height.

In addition, we applied the high-grade capping approach used in the bonanza-grade NV-03 stope to this stope, which may have been too aggressive for this specific part of the deposit. Together, these two factors resulted in a lower than planned grade for this particular stope.

This learning is exactly the reason for doing a bulk sample; these lessons provide valuable information for future mining practices. Selective mining methods allowing narrower zones with less dilution will be tested if a second bulk sample is granted."

"Our experience at Fenelon has given us the opportunity to understand how best to approach developing the property," stated Frank Demers, Vice President, Mining & Projects of Wallbridge. "As we continue expanding our exploration efforts and ideally undertake a second bulk sample, we will continue to broaden our understanding of this deposit and maximize overall value.

Some notable achievements during this campaign include better than planned safety results, zero environmental exceedances, underground development of nearly 2,100 meters and 25,000 meters of diamond drilling. We are proud of our team and recognize the continued support of our stakeholders and nearby communities as we implement our plans."

 

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