Expecting 45 million dollars from bulk sample We are making excellent progress and have begun the first shipments of Fenelon ore to the Camflo mill. The success of the drilling program to date is two-fold. Not only has it provided us with the ability to identify and select higher-grade stopes for the bulk sample, but it has also allowed for the pre-development of additional stopes which will provide lower-cost, near ready-to-mine ounces once the bulk sample is completed and a production decision has been made," stated Marz Kord, President & CEO of Wallbridge.
The bulk sample is expected to produce 19,000 to 26,000 ounces of gold with close to 50% of gold priced at $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 will be sufficient to cover the planned working capital requirements.