Exploration with Pre-Feasibility Bulk Sampling Underway
The Fenelon gold property lies along the Detour Gold Trend of northwestern Quebec, proximal to the Sunday Lake Deformation Zone which hosts the Detour Gold Mine and Balmoral Resources' gold deposits at Martiniere. Bulk sampling at Fenelon in 2019 produced an average grade of 18.49 g/t gold.
Ely Gold Royalties acquired the Fenelon royalty in April 2019. Wallbridge is exploring and developing Fenelon aggressively, completing a third bulk sample (see Wallbridge report here) and 75,000 meters of drilling in 2019.Following its 2019 bulk sample, Wallbridge began pursuing production permitting activities, launching its Environment and Social Impact Study along with beginning consultations with First Nations and surrounding communities.
Five drill rigs are active at Fenelon. Four rigs are focusing on exploration drilling from surface, doing large-spaced step-outs to define the footprint of the Fenelon gold system. One underground drill rig is doing more closely-spaced definition drilling of the Main Gabbro zones near the existing mine workings. The 2020 program will generally follow the 2019 aggressive drilling rate of approximately 9,000 metres per month for a total of 100,000 to 120,000 metres. The goals of this program are to 1) collect enough information to support a NI 43-101 maiden resource in Q1/2021, 2) establish >1M oz underground resource, mostly indicated, 3) demonstrate open-pit resource potential in Area 51, and 4) expand known footprint & depth, make new discoveries.
2019 Bulk Sample Highlights
The 33,233-tonne underground bulk sample of 2019 produced the following highlights:
Established that the property could be mined at good grades using relatively low-cost bulk mining methods
Stope grades ranged from 10.94 to 38.33 g/t gold
33,233 tonnes of ore with a reconciled average grade of 18.49 g/t gold containing 19,755 ounces of gold were processed at the Camflo Mill from the stopes in the bulk sample
2,277 tonnes of low-grade ore left-over from previous operators with a reconciled grade of 4.23 g/t gold were also processed
All gold was sold at average realized gold price of CAD $1727. 55 per ounce
The permitting process for a second bulk sample is underway
Submissions to the Quebec government for full production permits for the Fenelon Main Gabbro Zones will begin shortly
Wallbridge will continue its 100,000 - 120,000-meter drill program at Fenelon. As the remainder of the Fenelon Gold system continues to be understood, Wallbridge will continue with the next logical steps for permitting the property with the intent of sustainable and profitable operation.