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Wallbridge Mining Temporarily Evacuates Fenelon Camp, Suspends Exploration Due to Quebec Forest Fire Risk
TORONTO, June 05, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that it has t
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":" TORONTO, June 05, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that it has temporarily evacuated the camp at its 100% owned Fenelon Gold project (“Fenelon”) and suspended all exploration activities on its Detour-Fenelon Gold Trend Property due to an emergency order from the Quebec Ministère des Ressources naturelles et des Forêts (Ministry of Natural Resources and Forests) prohibiting access to lands in the province impacted by forest fires. “Safety is of paramount importance at Wallbridge,” said Marz Kord, President and CEO. “All of our employees and contractors’ staff have been safely evacuated and we have taken appropriate measures to secure and mitigate risk to the Fenelon camp site. Exploration activities at Fenelon and our other projects will resume as soon as practicable.” The news release from the Ministère des Ressources naturelles et des Forêts (Ministry of Natural Resources and Forests) announcing the prohibition can be found at Click Here About Wallbridge Mining 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 Gold (“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. The Company believes that these two deposits have good potential for economic development, especially given their proximity to existing hydro-electric power and transportation infrastructure. In addition, Wallbridge believes that the extensive land package is extremely prospective for the discovery of additional gold deposits. Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. (“Archer”) as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Qué...