/CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB:
WC7) ("Wallbridge")
is pleased to announce that it will be
participating in the AME BC Roundup Conference's Core Shack on
January 22nd and 23rd. The conference
is being hosted at the Vancouver Trade & Convention Center West
located at 1050 Canada Place, Vancouver,
BC.
TORONTO, Jan. 19, 2018 Conference attendees
are invited to come by Coreshack Booth 720, to view high grade
drill core from recent drilling on Wallbridge's Fenelon Gold property. Core from holes
FA-17-17 (311.08 g/t gold over 3.06 metres) and FA-17-26 (260.44
g/t gold over 7.02 metres) will be featured.
Wallbridge's Fenelon Gold
property is located in northwestern Quebec proximal to the Sunday Lake Deformation
Zone (SLDZ) which hosts the Detour Gold Mine in Ontario, and Balmoral Resources' gold deposits
at Martiniere. The 1,052 hectare Fenelon
Gold property hosts the Discovery Zone gold deposit and
surrounding 4 km strike length of a gold-hosting secondary splay of
the SDLZ. A total of over 50,000 metres of drilling have been
completed and, very significantly, two bulk samples have been mined
and processed from the deposit. In 2001, a 13,835 tonne bulk sample
mined from a small open pit at the Discovery Zone returned a
reconciled grade of 9.84g/t gold. A second 8,169 tonne bulk sample,
mined from underground in 2004 returned a reconciled grade of 10.7
g/t gold. The open pit and underground workings are currently
flooded.
Since acquiring the property in late 2016, Wallbridge has
completed an updated resource estimate and a positive
pre-feasibility study on the existing resource (see
Wallbridge Press Release dated February 02,
2017). In addition,
Wallbridge has completed 33 drill holes totalling 6,348 metres in
three surface exploration drilling campaigns at Fenelon. Drilling
significantly extended existing zones and discovered several new
parallel zones (see Wallbridge Press Release
dated December 13, 2017).
Results from this initial year's exploration drilling
program have exceeded expectations and resulted in an expanded
exploration target for the area near existing infrastructure and
above 150 metres depth. Additional surface and underground
exploration drilling as well as a 35,000 tonne underground bulk
sample are planned for 2018. All permits for the 35,000 tonne bulk
sample have been received (see Wallbridge Press Release dated
January 16, 2018) and mobilization
for the bulk sample program is currently underway.
The Qualified Persons responsible for the technical
content of this press release are Attila Pentek, P.Geo., Ph.D.,
Vice President Exploration and Marz
Kord, P. Eng., M. SC., MBA, President & CEO for
Wallbridge Mining Company Limited.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that
will support sustainable production and revenue as well as organic
growth through exploration and scalability.
Wallbridge is currently preparing to develop its
100%-owned high-grade Fenelon Gold Property in Quebec with ongoing exploration and a bulk
sample targeted to start in 2018. Wallbridge is also pursuing other
additional advanced stage projects which would add to the Company's
near term project pipeline. These discussions benefit from the
operating capabilities Wallbridge demonstrated by safely and
efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October 2015. Wallbridge is also continuing
partner-funded exploration on its large portfolio of nickel,
copper, and PGM projects in Sudbury,
Ontario, with a focus on its high-grade Parkin
project.
Wallbridge also has exposure to active exploration for
copper and gold in Jamaica and
British Columbia through its 12.7%
ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene
Resources Limited).
This press release may contain forward-looking
statements (including "forward-looking information" within the
meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995) relating to, among other
things, the operations of Wallbridge and the environment in which
it operates. Generally, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Wallbridge
has relied on a number of assumptions and estimates in making such
forward-looking statements, including, without limitation, the
costs associated with the development and operation of its
properties. Such assumptions and estimates are made in light of the
trends and conditions that are considered to be relevant and
reasonable based on information available and the circumstances
existing at this time. A number of risk factors may cause actual
results, level of activity, performance or outcomes of such
exploration and/or mine development to be materially different from
those expressed or implied by such forward-looking statements
including, without limitation, whether such discoveries will result
in commercially viable quantities of such mineralized materials,
the possibility of changes to project parameters as plans continue
to be refined, the ability to execute planned exploration and
future drilling programs, the need for additional funding to
continue exploration and development efforts, changes in general
economic, market and business conditions, and those other risks set
forth in Wallbridge's most recent annual information form under the
heading "Risk Factors" and in its other public filings.
Forward-looking statements are not guarantees of future performance
and such information is inherently subject to known and unknown
risks, uncertainties and other factors that are difficult to
predict and may be beyond the control of Wallbridge. Although
Wallbridge has attempted to identify important risks and factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors and risks that cause actions, events or
results not to be as anticipated, estimated or intended.
Consequently, undue reliance should not be placed on such
forward-looking statements. In addition, all forward-looking
statements in this press release are given as of the date
hereof.
Wallbridge disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, save and
except as may be required by applicable securities laws. The
forward-looking statements contained herein are expressly qualified
by this disclaimer.
SOURCE Wallbridge Mining Company Limited