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Wallbridge (WM.t) and its Fenelon Mine

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Wallbridge (WM.t) and its growing Fenelon Mine

WM.t ... All-data : 5-yr-W : 4-yr-D : 1-yr : 6-mos : 10d - Last: C$0.10 x 227mn shs = C$22.7mn Mkt.cap / in edit:

Wallbridge Mining (WM.t) - now Ready to Roll?

WM.t ... 10-yr : 5-yr : 2-yr : 6-mo : 10-d -- last: C$0.095 // Market Depth :

IZ9ASrA.gif

A confirmed breakout above C$.10, could soon bring $0.15 and higher

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 gold Fenelon Mine project in Quebec with a production decision targeted for Q2 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 active partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario. Currently, Wallbridge is completing a 20,000 metre fully partner-funded drilling program on its high-grade Parkin nickel-copper-PGM project.

Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 13% ownership of Carube Copper Corp. ("Carube Copper") (CUC:TSX-V, formerly Miocene Resources Limited).

> stockhouse-WM : http://www.stockhouse.com/companies/quote?symbol=t.wm : bullboard :

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Wallbridge Commences Resource Expansion Exploration Drilling at Fenelon
T.WM | March 20, 2017
 
Some bonanza grades in resource

TORONTO, March 20, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (the "Wallbridge") is pleased to announce that it has commenced resource expansion drilling at its 100%-owned Fenelon Gold Mine Property ("Fenelon") in Quebec.

"Now that we have a positive pre-feasibility study, exploration to expand the existing resource in order to extend the mine life is one of our top priorities," said Wallbridge's CEO Marz Kord. "Drilling, Phase 2 of our exploration program, has commenced at Fenelon, while we continue to work on permitting and a production decision in the second quarter of the year."

The exploration program at Fenelon is being carried out in three phases. Phase 1, which has been completed, consisted of a complete review of the mine geology including relogging and additional sampling of old drill holes, to better understand mine scale controls on gold mineralization, define the limits of ore grade mineralization and to allow optimization of the current Phase 2 drilling program.

Phase 1 exceeded expectations, resulting in the discovery of additional mineralized zones outside of the current resource (19.7 g/t Au over 1.90 m, including 89.3 g/t Au over 0.35 m) and in-fill sampling within the resource to better define the expected ore grade (8.37 g/t gold over 1.25 m, which together with historic assays forms part of an intersection of 20.17 g/t gold over 6.21 metres). Please refer to the press release dated December 5, 2016. Phase 1 also confirmed the presence of a number of high-quality targets in the immediate vicinity of the mine workings and the pre-feasibility study mining project (Figure 1).

Wallbridge_Mining_Company_Limited_Wallbr

The Phase 2 Program has commenced and consists of approximately 2,000 metres of surface drilling designed to test targets in close proximity to the initial mining project. Proposed drill hole locations are shown as blue stars on Figure 1. The objective is to better define the targets for follow-up resource definition drilling from surface and underground early in the mine life. The proceeds from the recent FT Share financing will be used to complete Phase 2.

The Phase 3 Program will consist of both surface and underground drilling to further test these targets and move some of them into resources. Prioritization of targets for detailed drilling is somewhat contingent on results from Phase 2. A total of approximately 3,000 metres of surface drilling is currently planned. Underground drilling is to commence during the underground bulk sampling once dewatering of existing mine workings is completed. This program includes a planned 3,500 metre initial program.

Read more at http://www.stockhouse.com/news/press-releases/2017/03/20/wallbridge-commences-resource-expansion-exploration-drilling-at-fenelon#PKtzh7hp0cGCBH41.99

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Wallbridge also has exposure to active exploration for copper and gold in Jamaica and British Columbia through its 13% ownership of

Carube Copper Corp. ("Carube Copper") (CUC:TSX-V, formerly Miocene Resources Limited).

CUC.v ... All-data : 5-yr-W : 4-yr-D : 1-yr : 6-mos : 10d - Last: 0.13. updated: 11/28/17: $0.00

cflMjB8.gif

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Fenelon HISTORY - before and after Oct. 2016 purchase

wallbridge.jpg

Fenelon is a Gold Project in Canada (formerly) owned by Balmoral Resources.

The project area lies within the north volcanic zone, near the interpreted boundary between the Abitibi and Opatica Sub-provinces. This region is also known as the HarricanaTurgeon belt. The property is known to host high grade gold zones in the named Discovery Zone.

 
  • Balmoral (BAR.t) Completes Sale of Fenelon Gold Mine Property 2016-10-19

    VANCOUVER, BC--October 19, 2016 - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR) (OTCQX: BALMF) reports that it has received the final cash payment of $2,500,000 and completed the sale of the Fenelon Gold Mine Property to Wallbridge Mining Company Limited (TSX: WM) ("Wallbridge"). Balmoral received, in total, cash payments of $3,500,000, 2,381,575 common shares of Wallbridge and retains a 1% NSR royalty on all future production from the property.

Fenelon - Balmoral Resources Ltd.

www.balmoralresources.com/projects/fenelon/introduction
... sell the Discovery Zone Property, a sub-division of the larger Fenelon Property hosting the Discovery Gold Zone, to Wallbridge Mining Limited. The sale of the ...
 
[PDF]BALMORAL COMPLETES SALE OF FENELON GOLD MINE ...
www.balmoralresources.com/assets/docs/nr/2016-10-19_nr.pdf
Oct 19, 2016 - sale of the Fenelon Gold Mine Property to Wallbridge Mining Company Limited (TSX:WM). (“Wallbridge”). Balmoral received, in total, cash ...

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As Hoped - some great news from Wallbridge

 

7.06 metres of 149.08 g/t gold !!!
Bonanza Grades !

RE:HALTED!

posted April 18, 2017 10:22 am by forcite

TORONTO, April 18, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce that the initial results from Wallbridge's first drilling program on its 100% owned Fenelon Gold property ("Fenelon") in Quebec have exceeded expectations and have confirmed the resource expansion potential on the property. The exploration drill program at Fenelon commenced in March 2017 and to date nine holes have been completed totaling 1,573 metres. An expanded drilling program will resume when the wet spring conditions subside.

Highlights

  • Five of the nine holes completed intersected significant gold mineralization.
  • Drill hole FA-17-07 intersected three mineralized zones including 7.06 metres of 149.08 g/t gold with a higher grade sub-interval of 3.72 metres of 281.30 g/t gold.
  • Drill hole FA-17-08 intersected two mineralized zones including 5.16 g/t gold over 2.68 metres with a higher grade sub-interval of 32.30 g/t gold over 0.39 metres.
  • Drill hole FA-17-02 intersected three mineralized zones including 3.04 g/t gold over 4.58 metres.
  • Drilling proves good continuity of Zone 110, which was not included in the 2016 resource estimate due to insufficient drilling.
  • At least two new zones have been discovered within short distance of the existing ramp to underground workings
  • All mineralized zones remain open and warrant further exploration drilling
  • Exploration target: 240,000 to 400,000 ounces of gold (600,000 to 1,500,000 tonnes at a grade of between 8 and 12 g/t gold)

"We are extremely pleased with these initial results which have exceeded our expectations", stated Marz Kord, President and CEO of Wallbridge. "We purchased Fenelon because we saw potential for it to grow far beyond the existing near surface resource. This gold project can not only be brought into production in the near term for low capex, but these exploration drill results demonstrate that there is a lot of potential to expand the gold resources and reserves". He continued, "Our recently completed positive prefeasibility study on the near surface resource support continuing our advancement towards a bulk sample and subsequent production."

=====

 

0.135 Change: arrow_up_sm.gif +0.04 : +42.11%

On Volume: 1,421,474

 

update

ab_zps9bv45ecr.gif

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A recent financing - looks cheap now

 

TORONTO, March 15, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (the "Wallbridge") is pleased to announce that it completed a non-brokered private placement of an aggregate of 5,300,000 common shares each issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "FT Shares") at a price of $0.085 per FT Share, raising aggregate proceeds of $450,500 (the "Offering").

The Company also issued 306,000 finder's warrants in connection with the Offering (the "Finder's Warrants"). Each Finder's Warrant entitles the holder thereof to acquire one common share of the Company (a "Warrant Share") at a price of $0.085 per Warrant Share until March 10, 2018.

The gross proceeds of the Offering will be used for exploration of high-quality targets around the known deposit used in the pre-feasibility study of Wallbridge's 100%-owned Fenelon Gold Mine Property ("Fenelon") in Quebec.

Marz Kord, P. Eng. is the Qualified Person on behalf of Wallbridge and has approved the scientific and technical disclosures in this press release.

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Bad Timing?

 

With gold prices sliding, WM is correcting on the spike up - on the drilling news

 

WM.t ... All-data : 5-yr-W : 4-yr-D : 1-yr : 6-mos : 10d - Last: C$0.10

WM_zpsuv1k68jg.gif

 

Comments, from bullboard:

1/

slow but sure
As with any junior mining company things move slow. If you follow the charts of juniors that have," made the grade" you can see they muddled along for some time. We now seem to be getting some traction and support on great drilling results. Soon we will have Parkin drilling results and a go ahead at Fenelon. Funding for juniors is always a challenge and Wallbridge has been quick to pay off all debts when cash has flowed in re Broken Hammer. The fact they are trying to create a steady cash flow is very exciting. Please research the Management's past history prior to joining Wallbridge and you will see the successful records they have. For the short guys, have fun and make some $ and to the fellow long term investors our well founded conviction although still early is gaining momentum.

2/

RE:slow but sure
Good post. All in do time. As with all pennies they move the most when positive pr's come out. The same for this stock. Patience required. Imo

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Wallbridge Mining (WM.t) - now Ready to Roll?

WM.t ... 10-yrs : 5-yrs : 2-yrs : 6-mos : 10-d -- last: C$0.095

IZ9ASrA.gif

 

A confirmed breakout above C$.10, could soon bring $0.15 and higher

==

> http://www.greenenergyinvestors.com/index.php?showtopic=21393

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Now Rolling?

It took some more good drilling results

Yesterday, as the drill results were announced. the Stock was up 66.7% to $0.125 on 7.1 million shares

 

 

Wallbridge (WM.t) and its growing Fenelon Mine

 

WM.t ... All-data : 5-yr-W : 4-yr-D : 1-yr : 6-mos : 10d - Last: C$0.10 x 227mn shs = C$22.7mn Mkt.cap / in edit:

Update

Wallbridge Mining (WM.t) - now Ready to Roll?

WM.t ... 10-yrs : 5-yrs : 2-yrs : 6-mos : 10-d -- last: C$0.095

IZ9ASrA.gif

 

A confirmed breakout above C$.10, could soon bring $0.15 and higher

==

> http://www.greenenergyinvestors.com/index.php?showtopic=21393

 

ZWQYOHG.gif

 

WALLBRIDGE INTERSECTS 237.81 G/T GOLD OVER 7.02 METRES WITH STEP-OUT DRILLING

ON THE FENELON GOLD PROPERTY IN QUEBEC

Wallbridge Mining Company Ltd. has released initial assay results from its

third round of exploration drilling on the 100-per-cent-owned Fenelon gold

property in Quebec. Results are reported for an initial three drill holes

(FA-17-25, FA-17-26, and FA-17-27). Results for another six holes are pending.

Mineralization remains open along strike and to depth and follow-up drilling

is planned as part of the pending bulk sample for which permits are expected

this year.

Highlights

Drill-hole FA-17-26 intersected two significant mineralized intervals

including 237.81 grams per tonne gold over 7.02 metres from 139.83 metres

downhole within the Viper zone, stepping-out below the previous FA-17-07 and

FA-17-17 intersections.

Drill-hole FA-17-27 intersected 122.25 g/t gold over 4.73 metres from 130.12

metres downhole within the Habanero zone with a higher-grade sub-interval of

362.83 g/t gold over 1.54 metres.

FA-17-25 intersected two significant mineralized intervals including 4.20 g/t

gold over 9.29 metres from 118.04 metres downhole with a higher-grade

sub-interval of 7.83 g/t gold over 4.58 metres.

To date, 33 exploration drill holes totaling 6,348 metres have been completed

at Fenelon in 2017. The current drilling followed up previous 2017 Wallbridge

drilling on the west extension target where drill hole FA-17-07 intersected

three mineralized zones including 141.16 g/t gold over 7.06 metres in the

Viper zone (see Wallbridge press release dated April 18, 2017) and FA-17-17

intersecting four mineralized zones including 311.08 g/t gold over 3.06

metres, also in the Viper zone (see Wallbridge press release dated Sept. 5,

2017).

"We continue to be pleasantly surprised by the drill results from Fenelon,"

stated Marz Kord, president and chief executive officer of Wallbridge. "We

knew when we purchased the property that there was room to expand the

resource, but to get holes grading in excess of 100 grams over mineable widths

in each of our first three programs is truly remarkable. To date our drilling

has been limited to targets at shallow depth near the existing ramp and we are

really just scratching the near surface potential.

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COMMENTS

===

,,,:RE:RE:Wallbridge announces a custom milling contract with Monarque
itsalie wrote: "
This is a proven PRODUCER,
" not really sure what they have proven.. they've been at this for 10 years and never really done anything.. or at least the stock hasn't gone anywhere.


You're basically denying what's in front of you. The drill results speak for themselves, and your message history speaks for itself. You've done nothing but complain in here from day 1. Trust me, if anyone had grounds to complain it would be me. I've been accumulating this for much longer, I can assure you.

These recent drill results are world-class. Wallbridge is taking it into production. Gold prices are trending higher. Resource may be increased to 400,000 oz/AU from 35,000 oz.

Share price is lagging due to a lack of PR, nothing else. I've seen many companies with 20x the valuation with far less going for them. Share price doubled last week. Are you waiting for more world-class results to add to your position? Word is getting out.


Read more at http://www.stockhouse.com/companies/bullboard#sAwTdPDAsSbZdFtX.99

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BIG PR versus Little PR

 

"it's amazing how a little Gold Dust can change everything!"

 

But now, if it is the real Deal (like Wallbridge's Fenelon) does anyone care ?

 

Gold Official Trailer 1 (2016) - Matthew McConaughey Movie

 

Matthew McConaughey Interview on 'Gold'

 

z8kM5NT.gif

Wallbridge Mining (WM.t) chart / 6mo : 12mo / over the last six months

 

COMMENTS

==========

Gold results
Last night I watched the movie Gold, starring Matthew McConaughey, which is loosely based on the Bre-X scandal. In the movie, the misrepresented, salted drill results were showing gold values of 0.8 oz/ton.
Wallbridge's latest NI 43-101 compliant (born from the Bre-X scandal) results are 237 g/ton, or 7.62 oz/ton.
The lack of excitement or limited reflection in the share price is due to a lack of awareness, nothing else. Wallbridge needs to make these results known, so that they can raise capital at valuations that reflect the incredible potential we have at Fenelon. Time to start the PR game guys. Love the work you're doing, but diluting at a cap of $30 million is a joke.

==
Read more at http://www.stockhouse.com/companies/bullboard#BaglfPx1SRgxivJ6.99

/ 2 /

RE:Gold results
Could not agree more. I really think that something needs to be said at the AGM to voice our concern about this area. This is not a cute little company that pretty good drill results at their base mineral properties (the Parkin properties). These gold results are world class. Time to bust out some PR machine work!

Read more at http://www.stockhouse.com/companies/bullboard#M6Mel2KGJpH6z9td.99

/ 3 /

"TORONTO, Nov. 9, 2017 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge") is pleased to announce initial assay results from its third round of exploration drilling on the 100% owned Fenelon Gold property ("Fenelon") in Quebec. Results are reported for an initial three drill holes (FA-17-25, FA-17-26, and FA-17-27). Results for another six holes are pending. Mineralization remains open along strike and to depth and follow-up drilling is planned as part of the pending bulk sample for which permits are expected this year.'
The stock popped with the drill results of 3 holes, 6 pending. the other 30 holes is old news. It is what it is.. an 11 cent stock..
its naive to say its a world class discovery lacking PR
Read more at http://www.stockhouse.com/companies/bullboard#hrcGumluQ2pBwJrU.99
/ 4 /
RE:RE:RE:RE:Gold results
So when you invest in a stock, you only look at the very latest drill results and dismiss the other 30 holes that were drilled with fantastic results? The stock popped previously and dropped. It has done this each time drill results have come out so this is not a one time occurance.

Read more at http://www.stockhouse.com/companies/bullboard#IHZibzJogW0Qqr6j.99

/ 5 /

We don't need to spend much on P.R. with these results... ....just to be patient a bit longer.

The market is not going to be able to ignore this massive little nugget much longer.

I haven't heard much of this before, and I apologize if it's already been posted here somewhere, but:
https://www.northernontariobusiness.com/regional-news/sudbury/wallbridge-pushing-for-early-production-at-fenelon-774164

(Less than 50%, excerpted:)
------------

During question period, it was asked why the company was considering an early production date when they have so few proven reserves.

Company president Marz Kord said he understood the concern, but they are very confident in the initial results to get a return to the stakeholders.

“The last 100 years the larger companies wouldn’t go ahead unless they had around three years’ reserves. But there are times when they do all this preliminary work, go into production and there’s almost nothing left (to mine)," he explained.

“These results show, even at shallow depths. The results are very good. We are going to make capital as we go for our stakeholders.”
------------
THESE GUYS ARE MINERS, NOT PROMOTERS. When the market finally gets it, we are all going to be richly rewarded.

Read more at http://www.stockhouse.com/companies/bullboard#QIX2Sv0szkrztL4J.99

/ 6 /

Yeah...they could probably do a better job of getting the word out, AND without spending much money...But, I still like the philosophy of letting their actions speak for themselves, though, too. Works in every facet of human endeavor...

When they start reporting massive EPS numbers next year...LOOK OUT ABOVE.
Read more at http://www.stockhouse.com/companies/bullboard#VUhAg7VMQX0wRLsC.99
/ 7 /
What kind of price...
So what kind of price valuation might we be looking at it if they show 400,000 oz with 247 million shares??
I'd appreciate estimates and how you derive them. thanks very much!

Read more at http://www.stockhouse.com/companies/bullboard#06GAMAQhHPSJVcvg.99

/ 8 /

There's a company called Seabridge Gold with a market cap that hovers around $1 billion. They have a lot of gold on the books, but their deposits are massive, low grade porphyry style and not easy to access. By my understanding they are nowhere near production, and have 11 employees on the books. Their grades are less than 1 g/t.
Wallbridge is drilling incredible grades (200+ g/t), and the bulk sample (I'm assuming) will target the best of these grades.
All you can do at this point is speculate. Based on near-term production and world class grades, we should be over $100 million right now.
I've seen companies with far less going for them cap into the billions on speculation/frenzy. See Copper Fox.
WM is simply one of the best opportunities you will find at this price.
Read more at http://www.stockhouse.com/companies/bullboard#iEP1K61dXlhviurX.99
/ 9 /
Well, a LOT depends, of course, on things like the depth/accessibity of the deposits, the POG, actual total compliant/proven resource increases, etc....
BUT...one little game we can play, based just on short term news, is a possible pop just from the upcoming bulk sample. If they take it from the right areas (and I see no way they can blow that), we can expect grades close to 1 oz/ton. If we actually get 35,000 ounces of gold, that would be north of US$40,000,000.
If we can get a bottom line net earnings from that of say...15%...or $6,000,000...that would result in a EPS of $.03.
A conservative PE ratio of 10 would make the company worth $.30/share JUST FROM A MEASLY LITTLE BULK SAMPLE!

Read more at http://www.stockhouse.com/companies/bullboard#YTMQXcTDdvDoIz68.99

/ 10 /

The more I think about it though, 35,000 ounces from a 35,000-ton BS is probably being way too optimistic. They will NOT be able to get grades that high unless they are taking rock from way down where the recent bonanza grades are located. That isn't going to be feasible. I would think a more realistic scenario would be based on what ITS did years ago...so let's say a slight improvement on that 14,000-ton-BS grade of .31 oz/t (4339/14000).

Half an ounce per ton is realistic (but still slightly optimistic) so cut everything I said in half....
Read more at http://www.stockhouse.com/companies/bullboard#XCmo0ZrwDr2gu9Qs.99
/ 11 /
Yes 11 grams per ton seems to be the goal. WM should push past .25 with upcoming catalysts with an upside north of $1 per share
once they prove up the 400,000 oz or 600M plus of gold. Even at 10% that's 60M profit.
Read more at http://www.stockhouse.com/companies/bullboard#7XfB58c5lI5LBBzS.99
MARKET CAPS, compared:
Sym.: Company ------ : C$price: -Low - High- : Sh-OS : Mkt.Cap: Pr/BkV : BkVal. :
Book Value: 11/28/17: ----------------------------------------------------------------------------- :
WM.t : Wallbridge Mng. : $ 0.115 : $0.040-0.110 : 287.06 : $33.01m : 1.502 : $0.077 :
FF.t- : FirstMngFinance : $ 0.550 : $0.500-1.100 : 552.15 : $303.7m : 1.182 : $0.465 :
FR.t- : First Maj. Silver : $ 8.500 : $7.510- 14.38 : 165.70 : $1,410m : 1.799 : $4.725 :
=== : GZZ and RZZ :
GZZ : Golden Valley--- : $ 0.270 : $0.240- 0.495 : 126.34 : $34.11M : 1.572 : $0.172 :
RZZ : Abitibi Roylaties : $ 8.280 : $7.410- 10.75 : 011.41 : $94.44M : 2.668 : $03.10 :

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WM.t / Wallbridge Mining ... update

.

CWeouRP.gif

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Comparisons: San Gold, Pretium, Detour Lake, Eskay Creek

 

Sym.: Company ------ : C$price: -Low - High- : Sh-OS : Mkt.Cap: Pr/BkV : BkVal. :
Book Value: 11/28/17: ----------------------------------------------------------------------------- :
WM.t- : Wallbridge Mng : $ 0.115 : $0.040-0.110 : 287.06 : $ 33.01m : 1.502 : $0.077 :
SGRcf: San Gold ------- : $ 0.000 : SOLD all its assets in June 2015 : $64.4M Liquidation
PVG.t : Pretium Res.--- : $ 14.06 : $09.17-16.48 : 181.48 : $2.60Bn : 2.414 : $00.00 :
DGC.t: Detour Gold ---- : $ 13.84 : $13.01-21.48 : 174.82 : $2.46Bn : 0.993 : $00.00 :
ESK.v : Eskay Mining -- : $ 0.270 : $0.160-0.510 : 108.67 : $ 29.34m : 0.000 :
NHK.t : Nighthawk Gold : $ 0.700 : $0.355-1.150 : 188.54 : $ 128.2m : 1.728 : $0.000 :
=====

 

RE:RE:San Gold.

==============

From 07-15 San Gold produced approximately 50,000oz/year. At a grade of approx 8gpt.
They did so in a favorable Canadian mining jurisdiction. It is a historic mine that they had to bring back on line.
All be it at a much higher cost then Fenelon will require.

Fenelon's grade has historically graded 10-12 gpt. It is a historic mine that requires investment to bring back online. WM is looking to produce 40,000oz per year.
San Gold had a resource over a 700,000 oz's left in M and I to mine when they shut it down in 2015. While WMs seems to think 400,000oz is their potential.

I dont see as big a difference as you I guess... Only slightly better grades. No need to argue, we are both shareholders here who obviously see in the merit of what is growing here in step out drilling.
/ 2 /
Peace, bro...but...
"Fenelon...It is a historic mine..." Huh? No it isn't.
It's a newish discovery with world-class drill results, and exploration is still in the very early stages.

The bulk sample done by International Taurus may have been at that lower-grade end, but, heck, 8 gpt will be the tailings-processing for this baby.
They could very well be pulling north of 50 gpt once they get into this deep enough.
/ 3 /
Hope you’re right.
Ik thinking of adding more today.
Do do you think this could be the next Pretium then? Is that more your style? lol
/ 4 /
Detour Lake works for me. This isn't an open pit concept, atm, but it well could be, once infill drilling is completed.
Proving up 400,000 ounces is just a milestone here, IMHO. I really think Fenelon has the potential to be enormous...mining 500,000 ounces per year, for many years, over the long haul...
/ 5 /

When they say blue sky potential. I think of Eskay Creek as the best of the best. Is that a better comparison??

/ 6 /

Better. This is the best result I can see at Eskay, though:
"Historic drill results at the Lulu zone on the SIB project include 14.3 meters at a grade of 14.4 g/t gold."
All you need do is look at the last two releases from WM involving drill results, though, to see that stuff is child's play compared to what we have here.
Read more at http://www.stockhouse.com/companies/bullboard#Av1wHr7iEs7wXbOw.99
==
Read more at http://www.stockhouse.com/companies/bullboard#5E6O23JKAgBLLuu6.99

Certificate of Authorization for Bulk Sample.

Just spoke to Marz. He tells me there is no problem with the C.A. for the bulk sample. Expects it for sure by the end of the year, and dewatering to begin in January. The only little snag was that the authorities wanted the outflow ditch/trench to be lined, which they are planning to do.


He also said that First Nations is not involved in the bulk sample permitting, so it will go more quickly than if they were seeking a full mine permit.
I mentioned some folks were worried because they said 60-75 days for a C.A. in their 8/15 new release, but he said the process didn't start until September 1, so they are not all that far behind "at the bureacracy level." All normal stuff.

All looking good. Planning 8000 M of underground drilling, too, as soon as dewatering is complete.

Read more at http://www.stockhouse.com/companies/bullboard#yreZrT2q80VFsmSL.99

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(Maybe there will be an expanding Camp like this at Fenelon one day):

20-Bagger potential ? - if it turns out like NHK

Nighthawk Gold Corp / NHK.t.: All-data : 5-yrs : 2-yrs :
4j5zXht.gif
 
The Birth of a NEW Gold Camp

Stockhouse EditorialNighthawk_logo.png

Mining investors are familiar with “mining camps”. These are especially prolific districts of mineralization. Typically, these “camps” boast not only vast tracts of prospective land, but also robust grades. The lure of strong grades and large tonnages attracts not just one mining company, but a group of them – and a new mining camp is born.

In particular; mining investors are familiar with gold camps. As “precious” metal, large/robust deposits of gold mineralization can be especially lucrative for mining companies and their shareholders. This means that when an exciting, new gold discovery is made, other mining companies will look to move into the new district, hoping to replicate the discovery themselves.

In Canada, several gold camps have attracted international fame, and made lots of money for mining companies and their shareholders, alike. Gold camps such as Timmins, Red Lake, and Val d’Or are household names for mining companies and investors.

However, with a century of exploration and 10’s of millions of ounces of gold production already recorded in each, most of that gold is already gone. New gold camps have become a rarity, not only in Canada, but around the globe. Why?

The answer is simple: most of the easy-to-find gold in the world is gone – already mined and crafted into jewelry, bars, and coins. Mining companies exploring for gold today are generally finding projects with lower grades, modest tonnages, in regions with high political risk and/or in previously inaccessible regions.

For this reason, the discovery of a new gold mining camp is big news in the world of mining. One junior gold mining company that is turning a lot of heads with its recent advancements is Nighthawk Gold Corp. (TSX: NHK, OTCQB: MIMZF, Forum).

image: http://www.stockhouse.com/getattachment/2db56338-d95c-4158-ba59-5f1a20c6c3cc/Nighthawk_DistrictTargetsNew.jpg?width=450&height=306

Nighthawk_DistrictTargetsNew.jpg?width=4
(click to enlarge)

DISTRICT SCALE POTENTIAL

NHK’s flagship asset is its Colomac Gold Project, located within its 100%-owned Indin Lake Gold Property, a consolidation of the vast majority the Indin Lake Greenstone Belt. Some mining investors may think it pretentious for a single mining company to be speaking in terms of its own camp. But just look at the numbers.

The Company’s land package totals 222,205 acres, or 899 km2, located 200km north of Yellowknife in the Northwest Territories. That is roughly three times the size of the entire Timmins Gold Camp.

> http://www.stockhouse.com/news/newswire/2017/11/27/the-birth-new-gold-camp

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Wallbridge Intersects 35.91 g/t Gold over 3.42 M & Reaches First Mining Level at Fenelon

TORONTO, July 25, 2018 - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce positive initial results from its underground drill program and to provide an update on the ongoing development as part of the 35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold Property ("Fenelon").

Highlights

  • To date, 25 drill holes have been completed totaling nearly 2,500 metres.
  • Visible gold was observed to be present in 18 drill holes.
  • Full assay results of only the first 4 holes have been received so far with highlights as follows:
    • 18-1030-006: 15.91 g/t gold over 2.41 metres in the Chipotle zone
    • 18-1030-007: 16.72 g/t gold over 1.40 metres in the Chipotle zone
    • 18-1030-008: 9.27 g/t gold over 3.59 metres, including 17.37 g/t gold over 1.58 metres in the Chipotle zone
    • 18-1030-009: 35.91 g/t gold over 3.42 metres, including 63.33 g/t gold over 1.70 metres in the Paprika zone.
  • Assay results from additional 21 drill holes are pending.
  • The 18,000 metres drilling program from underground and surface is planned to continue until December 2018, results of which will be disclosed continuously.
  • Reached the first mining level (5195 Level) with first stope production expected in August

"The progress of our bulk sample is on budget and schedule and importantly without any safety or environmental issues. Since initiating our exploration program in early June of this year, which so far has included nearly 2,500 metres of underground drilling, we have continued to refine and increase the confidence in our geological model and confirm the kind of grades we expect to deliver from this bulk sample," stated Marz Kord, President & CEO of Wallbridge. "We are quite excited with the high-grade intersections in these first 25 holes, 18 of which have visible gold. Due to their high-grade nature, a more robust assaying technique is needed, namely screen metallic, and as such assaying takes longer. We are eagerly awaiting the results of the rest of the drilled holes and look forward to continuation of the drilling which is planned for the rest of 2018. Over the next several months, we expect to continue to demonstrate the significant growth potential of Fenelon."

The bulk sample program is designed to test six to seven stopes in several zones. Expected overall grade from these planned stopes is estimated to be 18 to 25 g/t gold. The geology team has developed an extensive sampling program to characterize the mineralized material during this bulk sample. Chip samples are collected from a sampling line across each development face and muck samples are also taken in a regular pattern on surface.

Drilling to date from the 5213 exploration drift has mainly targeted the Chipotle and Naga Viper zones in the upper 100 m, between levels 5132 and 5213. So far, six stopes have been drilled-off to the planned 6 to 7 m nominal spacing providing good confirmation of the geological model and continuity of the high-grade shoots. Drilling is now focusing on four additional stopes in the Naga Viper zone, including the high-grade shoot discovered last year with intersections that included 260.4 g/t Au over 7.02 metres, 141.2 g/t gold over 7.06 metres and 311.1 g/t gold over 3.06 metres (see Wallbridge Press Release dated December 13, 2017 ).

"Drilling so far has confirmed our modeling of the high-grade shoots and provides us with sufficient information now to optimize the stopes to be taken during the bulk sample. We continue defining high-grade shoots for future production, including some in the Naga Viper and Habanero zones discovered just last year. It will be an exciting phase of in-fill and resource expansion drilling. We will release results of this program as frequently as we receive assays results."

A summary of the drill hole results from the underground drilling are reported in Tables 1 and 2 and also shown on Figures 1, 2, 3, 4 and 5 below.
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*Au capped at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate.

**Intervals containing visible gold ("VG").

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*Intervals containing visible gold ("VG").

Deeper drilling to test the down-plunge of known high-grade shoots is planned for Q4 of 2018 once the lower levels are developed.

A 10,000 metre surface drilling program is also scheduled to start in the latter part of this year to follow known mineralized zones and expand resources at depth and further away from the mine workings.

Wallbridge's Fenelon Gold Property is located in northwestern Quebec proximal to the Sunday Lake Deformation Zone ("SLDZ") which hosts the Detour Gold Mine in Ontario, and Balmoral Resources' gold deposits at Martiniere. The Fenelon Gold Property hosts the Discovery Zone gold deposit and surrounding 4 km strike length of a gold-hosting secondary splay of the SLDZ.

Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate and a positive pre-feasibility study on the existing resource (see Wallbridge Press Release dated February 02, 2017 ). In addition, Wallbridge has completed 33 drill holes totalling 6,348 metres in three surface exploration drilling campaigns at Fenelon. Drilling significantly extended existing zones and discovered several new parallel zones (see Wallbridge Press Release dated December 13, 2017 ).   The current 35,000 tonne bulk sample and underground drilling program is designed to provide the information needed to make a production decision by Q1 2019.

Drill core samples from the ongoing drill program at Fenelon were cut and bagged on site and transported to SGS Canada Inc. Samples, along with standards, blanks, and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns. 50g samples are analyzed by fire assay and AAS. For samples >10g/t Au, 50g is automatically analyzed by fire assay with gravimetric finish. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re-analysis for quality assurance and quality control.

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Wallbridge Mining (WM.t) - is the stock now Ready to Roll? (again)

WM.t ... 10yr : 5yr : 3yr : 2yr : 12mo6mo : 10d -- last: C$0.09

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: 3yr :

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The impressive Drill results, announced yesterday, will help - hence the 3Mn in volume

100 BOXER calculations

  • Visible gold was observed to be present in 18 / of 25 drill holes, only xx were assayed

HOLE, 18-1030 in the Chipotle zone (First 3), Paprika zone (4th result)
NO.-: "box"  :  g/t GOLD:
#006: 038.3 = 15.91 x2.41m.
#007: 023.4 = 16.72 x1.40m.
#008: 033.3 = 09.27 x3.59m., incl. 17.37 x1.58m (- 027.4= 05.9)
#009: 122.8 = 35.91 x3.42m., incl. 63.33 x1.70m (- 107.7= 15.1)

 

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Stockhouse’s gold investors are already familiar with Wallbridge Mining Company Ltd. (TSX: WM, OTCQB: WLBMF, Forum). In a full-length feature article from July 18, 2018; we alerted Stockhouse’s mining investors to the potential here with a simple title that got right to the point, Wallbridge Mining: Boasting Ultra High Grades.

There was no hyperbole in that title. The Company’s Fenelon Gold Project has already yielded some eye-popping intercepts from its 2017 drill campaign:

260.4 g/t Au over 7.02 meters
311.1 g/t Au over 3.06 meters
141.2 g/t Au over 7.06 meters

It’s understandable if some mining investors wonder if those numbers are a misprint. Intercepts like these are now rarely seen in the gold mining industry. No, no misprint.

Now WM is releasing numbers from its 2018 drilling program at Fenelon. Drilling to date has encompassed roughly 2,500 meters of underground drilling and a total of 25 drill holes. This is a gold property that has had considerable historical development, including existing underground infrastructure. Altogether, the Company is planning approximately 18,000 meters of drilling this year.

Assay results for the first four holes are now available, and to no surprise, the Company has produced more very high-grade gold intercepts.
 
  • 35.91 g/t Au over 3.42 meters (including 63.33 g/t over 1.70 meters)
  • 15.91 g/t Au over 2.41 meters
  • 16.72 g/t Au over 1.40 meters
  • 9.27 g/t Au over 3.59 meters (including 17.37 g/t Au over 1.58 meters)

Given the monster numbers from 2017 drilling at Fenelon, some mining investors might actually be disappointed with these results. Those readers need to take a much closer look at Wallbridge’s July 25, 2018 news release.

The first point to note is that most of the assay results for these first 25 drill holes have been delayed. Why? President and CEO, Marz Kord explains this to investors.

"We are quite excited with the high-grade intersections in these first 25 holes, 18 of which have visible gold. Due to their high-grade nature, a more robust assaying technique is needed, namely screen metallic, and as such assaying takes longer. We are eagerly awaiting the results of the rest of the drilled holes and look forward to continuation of the drilling which is planned for the rest of 2018. Over the next several months, we expect to continue to demonstrate the significant growth potential of Fenelon."  [emphasis mine]

> more at http://www.stockhouse.com/news/newswire/2018/07/26/wallbridge-produces-more-high-grade-gold-intercepts#ElpT1cQ9ZxYPtb4y.99

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WM.t / Wallbridge Mining ... 10-yr :

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RESULTS announced... Sep 5th

September 05, 2018 - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (“Wallbridge” or the “Company”) is pleased to announce continued positive results from its underground drill program and to provide an update on the ongoing development as part of the 35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold Property (“Fenelon”).

Highlights

  • Visible gold was observed to be present in 37 of 56 holes drilled to date.
  • Since the last press release (see Wallbridge Press Release dated August 28, 2018), partial assay results of 6 additional holes have been received with highlights as follows:
     
    18-1035-011: 65.76 g/t gold over 2.25 metres in the Chipotle zone
    18-1035-013: 144.96 g/t gold over 2.12 metres in the Chipotle zone and 40.69 g/t gold over 4.28 metres in the Naga Viper zone
    18-1035-018: 12.68 g/t gold over 3.51 metres and 9.04 g/t gold over 5.30 metres in the Chipotle zone
    18-1035-019: 137.63 g/t gold over 4.85 metres in the Naga Viper zone, 18.70 g/t gold over 8.00 metres and 39.10 g/t gold over 1.00 metre in the Chipotle zone
    18-1080-001: 611.00 g/t gold over 0.50 metre in the Naga Viper zone
    18-1080-003: 19.24 g/t gold over 1.50 metres in the Naga Viper zone
    18-1080-006:

    12.80 g/t gold over 1.70 metres in the Naga Viper zone

  • Assay results from 34 drill holes are pending.
  • The second stope (NV-01) is being prepared and ramp has reached the second level (5180 Level).
  • Close to 5,000 tonnes of ore has been shipped to the Camflo mill for processing planned to start this week.

 “Our drilling to date has mainly focused on the top 100 metres of the deposit. The successful results to date indicate that our original exploration target of 400 ounces per vertical metre has now increased to a range of 800-1,000 ounces per vertical metre and the continued drilling is proving this up in preparation for the updated resource to be completed after the bulk sample,” stated Marz Kord, President & CEO of Wallbridge Mining Company. “This is very comparable to other well-known, high grade Abitibi gold deposits. The planned 2018 drilling from underground and surface should allow us to define the extension and size potential of the deposit to depth”.

The bulk sample is expected to produce 19,000 to 26,000 ounces of gold with close to 50% of gold priced at C$1,720 per ounce. The expected cash flow upon completion of this bulk sample, net of all bulk sample costs and including the financing costs is expected to be sufficient to cover the budgeted working capital requirements.

> more: http://www.stockhouse.com/b/2wM4eBQ

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Stockhouse Comments

Actually We Already Have a Mine

WM currently has underground development accessing high grade ore that it is bulk sample mining and shipping off for processing to produce gold for sale.  The sale of this gold* will generate enough free cash to allow more underground development and more drilling to expand reserves.  Once the mining of this bulk sample is complete and we have more results from the drilling program, WM expects to make a final decision on the further commercial development of Fenelon next year.  So far the bulk sample mining and the drilling of high grade ore intercepts is very encouraging.  And WM could do more bulk sample mining to help pay for the expansion of the mine and building of their own milling facility.

Contrast this with the hundreds of other junior mineral exploration companies in the raise money, drill, raise more money, drill some more, etc... cycle that usually goes on for years.  Wallbridge truly is a unique investment opportunity amongst the hundreds of junior mineral exploration companies on the market.
*BECAUSE of the High Grade !
/ 2 /
I really like the bulk sampling strategy; so many benifits. 
 


their strategy is clear, followthrough has been lock step with all plans early on. All developed by engineers and apt business professionals. 

+ current spot gold prices pressure this down, but the bulk sample already has a fixed sell price... a good one...
+ other high grade nickle/copper properties provide exposure to the potential nickel boom from EV's.

/ 3 /

The beauty of what we have here is that the very high grades could be sent to the toll mill for now, less haulage/mill cost to generate a cash heap for a stand alone mill. The mill can then be used to process the medium grades and perhaps an on site heap leaching for the lower grade gold ore. Its looking real good at the moment. I can't wait for the lower drilling in the high grade zone. GLA

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One of the Top 3 Best

Best Drill Interceptions In The Metals Mining Sector

36303466_15361560512265_rId13_thumb.jpg

Carlow Castle cobalt-gold-copper project is becoming a beast.

Puma and Trevali report good shallow interceptions at Murray Brook.

Fenelon now with visible gold in 37 of 56 holes drilled to date.

https://seekingalpha.com/article/4204475-best-drill-interceptions-metals-mining-sector-week-ended-2-september-2018?v=1536241543&comments=show
/ 2 /
So ironinc that in this guys article, he totally forgets to mention that Wallbridge has some nice looking properties in Sudbury (not to mention the third largest land holding in the area) while the interview with the guy from Sprott a few months back completely failed to mention a single thing about the Fenlon project and only talked about Sudbury. 

Wallbridge really needs to hire me for PR... sigh...
Read more at http://www.stockhouse.com/companies/bullboard#mBLMwzeiiia6Qr45.99

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RE ^8 /  Best Drill Interceptions In The Metals Mining Sector

This bobzuruncle guy has been shitposting about WM for about as long as I can remember.  That includes at a price of $0.05c.  We just closed at $0.14 with significant continuation buying throughout the week.  Wallbridge has adopted a policy of releasing drill results as they get them, which is fantastic.  All of the results have been world class to this point.  Not sure how much more evidence his canary needs, but if you're willing to wait until we have a bankable feasibility in place, you're looking at a 10 bagger from here.  The word is getting out, and there's plenty of daylight on the Level 2.  

There is quite simply no better opportunity than Wallbridge at a cap of $40m.  Grades per meter have just been doubled.  I can't wait for the net smelter numbers to come out on this bulk sample.  I'm guessing we come out at greater than 20 g/t.  

Refer to the Wallbridge corporate presentation for comparisons to Harte Gold and Richmont Mines.  

No brainer.  GLTA

Read more at http://www.stockhouse.com/companies/bullboard#55y4yurkyTQyrXVX.99

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"100% Buy"

Barchart Opinion (just for fun)

Please don't take these things too seriously but it is fun to see.
https://www.barchart.com/stocks/quotes/WM.TO/opinion

Overall Average:

100% BUY

Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signa

Read more at http://www.stockhouse.com/companies/bullboard#1HfB824cWw2ppb1p.99

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Wallbridge Announces $3.9 Million Strategic Investment by Eric Sprott

TORONTO, Sept. 14, 2018 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce that it has closed a non-brokered private placement (the "Offering") through the issuance of 30,000,000 units of the Company (each a "Unit") for gross proceeds of $3,900,000. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, was the sole purchaser of the Offering.

image:

Wallbridge Mining Company Limited (CNW Group/Wallbridge Mining Company Limited)

"We are pleased to have a gold investor such as Eric Sprott as one of our large shareholders. Eric is very familiar with high grade gold deposits in the world and Fenelon obviously fit that bill," stated Marz Kord, President & CEO of Wallbridge. "On behalf of all Wallbridge shareholders, we welcome Eric's support in our drive to make Fenelon Gold to be the first high grade operating mine in this emerging belt in Northwestern Quebec."

. . . In connection with the Offering, the Company paid an aggregate cash commission of 3% to a certain eligible person. All securities issued are subject to a statutory hold period of four months in accordance with applicable securities legislation.

Proceeds of the Offering will be used for general corporate purposes.

As of the date hereof, after giving effect to this acquisition of Units, Mr. Sprott beneficially owns and controls 33,333,334 Common Shares and 16,666,667 Warrants of Wallbridge, representing approximately 9.4% of the issued and outstanding Common Shares on a non-diluted basis, and approximately 13.4% on a partially diluted basis. Prior to the date hereof, Mr. Sprott beneficially owned and controlled 3,333,334 Common Shares and 1,666,667 Warrants of Wallbridge, representing approximately 1.0% of the issued and outstanding Common Shares on a non-diluted basis, and approximately 1.5% on a partially diluted basis.

The Units were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell securities of the Company either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.


Read more at http://www.stockhouse.com/news/press-releases/2018/09/14/wallbridge-announces-3-9-million-strategic-investment-by-eric-sprott#7wKjQzKwRyxzr3h4.99

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Bullboard post : Wallbridge Mining Co Ltd. > I like it.

I like it.

Finally the exposure we've been looking for.  Did Sprott get a good deal?  Certainly.  But I'm okay with that.  We're officially on the map. 
I'll just leave this here.
https://business.financialpost.com/commodities/mining/what-happens-when-kingmaker-eric-sprott-backs-your-penny-mining-stock

Read more at http://www.stockhouse.com/companies/bullboard#5sxybfVCOpiEBa7T.99

===

What happens when 'kingmaker' Eric Sprott backs your penny mining stock

Meet Garibaldi Resources, the TSX Venture’s best performer with a 1,751% gain last year — all because of the interest of this Canadian billionaire

One Friday afternoon not so many months ago, Canadian billionaire Eric Sprott was sitting in a leather wingback chair in a dimly lit room, talking about a junior mining company that he just can’t stop investing in.

The company, Garibaldi Resources Corp., is in the earliest stages of exploring for nickel in British Columbia’s Golden Triangle, an area that has been relentlessly explored and mined for a century without much nickel ever being found.

Nevertheless, Sprott was enamoured: He compared the area to Voisey’s Bay, also a nickel deposit, and likely the largest metal discovery in Canada in the past 40 years. That find has turned out to be worth billions of dollars.  

“It just keeps coming together,” Sprott said about Garibaldi, turning to an interviewer on his left during a video that will be posted on YouTube.

That Garibaldi has never had any revenue passes without comment.

It was also an ideal time to pitch several junior mining companies he’s backing.

By the end of October, Garibaldi’s stock had more than doubled in value to $4 per share, but that doesn’t fully convey its meteoric journey during 2017.

In February, the TSX Venture Exchange ranked Garibaldi as its No. 1 performing stock in 2017: The stock experienced a 1,751 per cent price increase to $2.46, a 2,351 per cent increase in market capitalization to $238 million and a trading volume above 150 million.

Sprott has invested heavily in at least two other mining companies on the list, Metallis Resources Inc. and Novo Resources Corp., whose stocks increased 750 and 361 per cent, respectively, last year.

For a billionaire such as Sprott, there are plenty of opportunities on the TSX Venture — where the average financing is $3.9 million — to change a company’s profile with a multimillion-dollar investment.

. . . Garibaldi’s chief executive Steve Regoci, who has spent the past year at the helm of a company that hitched its caboose to the TSX money-raising machine just as the commodity cycle started to heat up the price of metals, offers a war weary account.

“I wish it was all fun,” Regoci said. “It’s not been all fun.”

In the past 12 months, Garibaldi shares have traded as low as 12 cents and as high as $5.27, before settling down to less than $3 in recent months.

Brady Fletcher, managing director of the TSX Venture Exchange, which is based in Toronto, said such volatility is a good thing, because it creates the urgency that drives investors to make buying and selling decisions. That, in turn, enables mining companies to raise money.

Indeed, in 2017, the TSX accounted for 30 per cent — or about $8.5 billion — of the mining equity capital raised around the world.

“Part of what comes with a guy like Eric Sprott is when Eric Sprott says he’s done his due diligence and is investing in a company, it’s a way for retail Canada … to follow that thought leader,” Fletcher said.

Sprott also sees a special role for himself and similar investors in junior mining companies.  

“I care very much about small enterprise capital,” he told investors on Jekyll Island as the other reason he agreed to keynote. “It’s very difficult for smaller companies to raise capital. You need people to champion your stock.”

. . . By October, it was trading at $2 per share, and the company announced it closed a $2.5-million private placement with Sprott for about 2.87 million shares — with roughly half priced at 82 cents per share and half at 92 cents per share — plus warrants to purchase more. He now owned more than 10 per cent of the company, according to a press release.

That same month, the stock started jumping in bigger increments. On October 12, about one week after Sprott’s investment closed, the stock rose 28 per cent to $2.69 from $2.09. The next day, it spiked 34 per cent to $3.57. On October 25, it peaked at $5.27, giving it a market capitalization, albeit briefly, of $450.9 million. 

> MORE: https://business.financialpost.com/commodities/mining/what-happens-when-kingmaker-eric-sprott-backs-your-penny-mining-stock

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The Deposit is Growing

Wallbridge intersects 122.35 g/t gold over 2.95 metres and 41.02 g/t gold over 5.52 metres in Newly Discovered Habanero zone

Canada NewsWire 1 day ago

TORONTO, Sept. 19, 2018 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the "Company") is pleased to announce continued positive results from its underground drill program and to provide an update on the ongoing development as part of the 35,000-tonne bulk sample and underground exploration program at its 100%-owned Fenelon Gold Property ("Fenelon").

Highlights

18-0990-006:

36.71 g/t gold over 3.50 metres in the Naga Viper zone

18-0990-007:

122.35 g/t gold over 2.95 metres in the Habanero zone,

 

204.00 g/t gold over 0.60 metres in the Chipotle zone and

 

35.21 g/t gold over 4.05 metres in the Naga Viper zone

18-0990-010:

41.02 g/t gold over 5.52 metres in the Habanero zone and

 

12.42 g/t gold over 4.55 metres in the Paprika zone

18-1075-001:

18.54 g/t gold over 2.27 metres in the Naga Viper zone

  • Assay results from 31 drill holes are pending.
  • Production from the second stope (NV-01) is currently underway and development on the second level (5180 Level) is nearing the CH-02 stope.
  • Over 8,000 tonnes of ore have been shipped to the Camflo mill and processing of the first batch is nearly completed.

"The results released today confirm the exceptional quality of the mineralization discovered in 2017 in the West Extension area. We are especially pleased with the fact that the sort of grades and thicknesses that have been shown in the Chipotle and Naga Viper zones are now also being intersected in the Habanero zone, which is a new structure discovered during last year's surface drill program," stated Attila Péntek, Vice-President, Exploration of Wallbridge. "This West Extension area remains to be one of the main focuses of our continued resource expansion drilling both from underground and surface."

Drilling to date from the 5213 Level has mainly targeted the high-grade shoots down to 5130 Level (~120 m depth), which is the lowermost level that is planned to be developed during the 2018 bulk sample program. In the next few weeks drilling will continue to focus on adding high grade resources in the West and East Extension areas.

A new underground drill station has been developed on the 5180 Level, which will be used to target the main high-grade shoots down-plunge to 200 m depth.

. . . Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate and a positive pre-feasibility study on the existing resource (see Wallbridge Press Release dated February 02, 2017). In addition, Wallbridge has completed surface exploration drilling campaigns and is currently drilling from underground as part of its 35,000-tonne bulk sample at Fenelon. Drilling to date has significantly extended existing zones and discovered several new parallel zones.

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