TORONTO, Nov. 14, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce that progress toward mining of a bulk sample at its Fenelon Gold property has taken a significant step forward with the signing of a custom milling contract with Monarques Gold Corporation ("Monarques") (TSX.V:MQR) (FRANKFURT:MR7).
Monarques will process the 35,000-tonne bulk sample ore from the Fenelon Gold property, located 75 km west-northwest of Matagami, Quebec, at its Camflo mill.
"The signing of this toll milling contract is a major milestone in our plans for an underground bulk sample to assess the nature of high-grade gold mineralization and to drill for expansion of the resource at the Fenelon Gold property," said Marz Kord, Wallbridge President and CEO, "Importantly, the Camflo mill is familiar with the characteristics of processing Fenelon Gold ore. This is the same mill which processed previous bulk samples from Fenelon Gold in 2001 and 2004 with recoveries in excess of 97% at head grades of over 10 grams per tonne."
The Qualified Person responsible for this press release is 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 2017. Wallbridge is also in discussions regarding several other advanced stage projects which could become the Company's next mines. 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).
