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Wallbridge Mining announces 2018 update and exploration program

Mining News - Published on Mon, 17 Dec 2018

Image Source: Wallbridge Mining
Wallbridge Mining Company Limited announced continued positive results from its underground as well as surface drill programs 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.

Highlights:

1. On target to achieve bulk sample production guidance of 35,000 tonnes grading 18-25 grams per tonne of gold for production of 19,000-26,000 ounces of gold.

2. Mill recoveries have reached forecast levels.

3. 13,500 tonnes of ore processed at the Camflo Mill in September and November mill runs.

4. 10,000 metres drilled underground in 2018, with visible gold observed in over 50% of drill holes and approximately 5,000 metres of surface drilling.

5. Underground and surface drilling to date has been successful at extending known gold zones and discovering new parallel zones.

6. Encouraged by exploration results and currently evaluating a substantial exploration program for 2019.

Mr Marz Kord, President & CEO of Wallbridge, said that "We are very encouraged by the results from the Fenelon bulk sample to date and confidently maintain our previous guidance for production of35,000 tonnes at grades of 18 to 25 grams per tonne producing 19,000 to 26,000 ounces of gold. The current bulk sample that started in the second quarter of this year is about halfway completed. Although schedule to reach the bottom levels is about 4 to 6 weeks behind the original plan due to some additional development, the stope production in terms of tonnage and grade is very close to our original estimates. The mill recoveries have now reached forecast levels and we are confident in reaching our targets in all areas of production and exploration. The benefit of the bulk sample is that it has allowed us to get a head start on mine development as we test various mining areas and at the same time explore to define additional ounces not only in the vicinity of the existing planned infrastructure but also to depth."

He said that "The exploration drilling we have done over the past year at Fenelon has significantly expanded the extent of high-grade gold mineralization at shallow depths near infrastructure, has resulted in the discovery of several new high-grade zones and has improved our understanding of the nature of the gold mineralization to depth. We are proud of the team at Wallbridge and look forward to further expanding and de-risking the project and building additional resources and reserves for years to come."

Source :

Posted By : Rabi Wangkhem on Mon, 17 Dec 2018
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