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Wallbridge Mining Files NI 43-101 Technical Report Supporting Positive Preliminary Economic Assessment for the Fenelon Gold Project in Quebec
TORONTO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced the filing of
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":" TORONTO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced the filing of a National Instrument 43-101 (“NI 43-101”) technical report (the “Technical Report”) in support of its previously announced preliminary economic assessment (“PEA”) for its Fenelon Gold project (“Fenelon”), located on the Company’s Detour-Fenelon Gold Trend land package in Northern Abitibi, Quebec. The Technical Report was prepared in accordance with Canadian Securities Administrators’ NI 43- 101 Standards of Disclosure for Mineral Projects and Form 43-101F1 and is available for review on SEDAR+ (sedarplus.ca) and the Company's website (wallbridgemining.com). About Wallbridge Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend while respecting the environment and communities where it operates. Wallbridge’s flagship project, Fenelon, is located on the highly prospective Detour-Fenelon Gold Trend Property in Québec’s Northern Abitibi region. An updated mineral resource estimate completed in January 2023 yielded significantly improved grades and additional ounces at the 100%-owned Fenelon and Martiniere projects, incorporating a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources. Fenelon and Martiniere are located within an 830 km2 exploration land package controlled by Wallbridge. In addition, Wallbridge believes that the extensive land package is extremely prospective for the discovery of additional gold deposits. Wallbridge has reported a positive PEA on its 100%-owned Fenelon project with an estimated average annual gold production of 212,000 ounces over 12.3 years. Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec in November of 2022. Wallbridge will continue to focus on its core Detour-Fenelon Gold Trend Property while enabling shareholders to participate in the potential economic upside in Archer. For further information please visit the Company’s website at www.wallbridgemining.com or contact: Wallbridge Mining Company Limited Marz Kord, P. Eng., M. Sc., MBAPresident & CEOTel: (705) ...