RE:RE:RE:RE:Whats Happening bulk sample is coming from multiple zones.
- Assay results from 17 underground drill holes and five surface drill holes are pending.
- Production from the third and fourth stopes (CH-02 and NV-02) is underway.
- Over 16,000 tonnes of ore has been mined of which 13,500 tonnes have been shipped to the Camflo mill.
"It is very encouraging that our first deep hole of the program returned such a strongly mineralized intersection, especially given that it is the deepest visible gold occurrence on the Property ever drilled. Being at over 300 m depth and approximately 350 m west of the current underground development, this intersection opens up a large area for future resource expansion stated Attila Pntek, Vice-President, Exploration of Wallbridge. "After a slow start of the surface program caused by weather-related delays, we now have two surface drill rigs and one underground drill turning to build resources and test deep targets.
The bulk sample program is designed to test a few stopes in several zones. Overall grade from these planned stopes is estimated to average 18 to 25 g/t gold for total estimated production of 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.
In the next few weeks, underground drilling will target the main high-grade shoots down-plunge to 200 m depth. Surface drilling will follow known mineralized zones and expand resources to 300-400 m depth and further away from the mine workings.