Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: WM

Metals Company Hits Wide Zones of Gold Mineralization in Quebec
News Update

Share on Stocktwits

Source:

These results could improve the project's economics and indicate bulk mining is possible there, according to the company.

Wallbridge Mining Co. Ltd. (WM:TSX) hit wide zones of gold mineralization on drilling, which suggests bulk mining is possible in Area 51 of its Fenelon gold project in Quebec, the company announced in a news release.

These wide intersections of near-surface gold mineralization, encountered in Area 51's Andromeda corridor in particular could positively impact the overall economics of Fenelon, the company stated. They include assays from hole FA-19-080 that include 1.21 grams per ton (1.21 g/t) gold over 70.99 meters (70.99m) in the Enterprise zone, 5.72 g/t gold over 3.83m in the Milky Way zone and 11.21 g/t gold over 1.87m in the MIB zone.

Hole 19-0915-011 returned 1.01 g/t gold over 132m, including 20.05 g/t gold over 3.88m. Hole 19-0915-016 demonstrated 0.88 g/t gold over 167.31m, including 18.81 g/t gold over 0.67m in the Interstellar zone.

Exploration drilling in the Lower Tabasco zone returned highlights of 4.16 g/t gold over 35.55m, including 6.95 g/t gold over 7.5m and 6.72 g/t gold over 7.5m, in hole FA-19-099. This updated interval, the deepest intersection at Fenelon to date, "highlights the continuing strength of the gold system at 850m vertical depth, and we are looking forward to testing this zone down to 1,500m with this year's drill program," Vice President of Exploration Attila Péntek said in the release.

Drilling continues at Fenelon with six rigs completing about 9,000m per month. Wallbridge aims to drill a total of 100,000–120,000m at the project this year.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.





Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe