QUEBEC – Toronto-based Wallbridge Mining Co. has begun resource expansion drilling at its wholly owned former Fenelon gold mine 75 km northwest of Matagami. This is the second of a three-phase program to be carried out.
Phase two consists of 2,000 metres of surface drilling to test targets near the former mine. Wallbridge recently completed a $450,500 flow-through share offering, the proceeds of which will support current drilling.
Fenelon long section 2017 drilling program.
Phase three will include 3,000 metres of surface and 3,500 metres of underground drilling. The underground drilling will begin during bulk sampling once dewatering of the existing mine is completed.
In 2016, a resource estimate was calculated for an area 500 metres along strike, 210 metres wide and 280 metres deep. Using a cut-off grade of 5.00 g/t gold, the measured resources were 30,100 tonnes grading 13.12 g/t gold (12,700 contained oz.), the indicated resources were at 61,000 tonnes grading 12.89 g/t (25,300 contained oz.), and inferred resources stand at 6,500 tonnes grading 9.15 g/t (1,900 contained oz.).
The Fenelon 43-101 report completed earlier this year is posted at www.WallbridgeMining.com.