“I am very pleased with our accomplishments this year,” stated
The remainder of the 2020 programs consists of:
- Completion of a 100,000-metre drilling program (75% complete as of
Sept 30, 2020 ); - Preparation for underground drilling platform development; and
- Continuation of technical studies to support resource estimates and future economic studies.
The planned expenditure for the entire 2020 is approximately
The 2021 program consists of:
- Completion of approximately 150,000 metres of diamond drilling;
- Completion of the maiden resource estimate for Fenelon including the Gabbro, Tabasco, Cayenne and Area 51 zones during the third quarter
- Commencement of a 10,000 metre, multi-year development program to establish underground drilling platforms in Area 51 and Tabasco which will allow for:
- Tightly-spaced drilling of Area 51, Lower Tabasco, and Cayenne zones down to 1,500 metre vertical depth; and
- Mapping and sampling of Area 51, Lower Tabasco and Cayenne zones from underground
The proposed budget for 2021 is approximately
About
Wallbridge is currently advancing the exploration and development of its 100%-owned Fenelon Gold property which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern
The recent acquisition of Balmoral Resources has secured for Wallbridge a buffer of several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. This acquisition has also significantly expanded Wallbridge's land holdings in
Wallbridge is also the operator of, and a shareholder in,
For further information please visit Wallbridge's website at www.wallbridgemining.com or contact:
President & CEO
Tel: (705) 682-9297 ext. 251
Email: mkord@wallbridgemining.com
Investor Relations Advisor
Email: vvargas@wallbridgemining.com
This press release may contain certain “forward-looking statements” within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of
By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company’s projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.
Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with the securities regulatory authorities in
Covid-19 - Given the rapidly evolving nature of the Coronavirus (COVID-19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in
Source:
2020 GlobeNewswire, Inc., source