Wallbridge Mining – Company Projects, Recap Of 2021 Maiden Resource Estimate, And The 160,000 Meter Drill Program For 2022
Marz Kord, President and CEO of Wallbridge Mining (TSX: WM – OTC: WLBMF) joins us to overview the key Projects, recap the 2021 Maiden Resource Estimate, and provide details on the large 2022 exploration program. We start off with the Company origins, the drilling success at their flagship Fenelon Project, and the eventual takeover of all the Balmoral assets along the Detour-Fenelon trend, in Québec.
We recapped the metrics around the maiden Mineral Resource Estimate released November 9, 2021 that defined over 4 million ounces of gold in all categories, for the combined Fenelon and Martinière Deposits in Quebec, Canada. We have Marz outline what the company has learned about these 2 primary projects in the course of 3 years of exploration, and where there is opportunity to expand the resources through more drilling, and relogging of old core.
Next we got into the large $70 Million exploration program planned for 2022, consisting of 160,000 meters of drilling at Fenelon, Martinière, Grasset, and other regional targets, in addition to the work that will go on a Casault, optioned from Midland Exploration, and the Joint-Venture with Kirkland Lake Gold at the Detour East Project. The company is also still awaiting drill assays on over 30,000 meters of drilling from 2021 that will be reported as they are returned from the labs. We wrap up with a review of Marz’s experience in the mining industry, the team at Wallbridge, the financials, and share structure.
If you have any questions for Marz regarding Wallbridge Mining, then please email us at either Fleck@kereport.com or Shad@kereport.com
Seems pretty good. Cory asked a straight forward guestion..What do you expect when the 2022 drill program is finished? I thought he would put a number on it, 2M oz, 3M oz, whatever. But he dodged the question, didn’t put a number on it.
Well, there really is no way to know how large the already more than 4 million ounce resource will grow with 30,000 more meters of last year’s drill core still in the lab and results waiting to be returned back (+) 50,000 meters of old core to relog for the bulk tonnage model that will add more easy ounces (+) the planned 160,000 meters of new drilling in 2022.
Also, the market had unrealistic expectations of 5-10 million ounces of gold for the maiden resource last year and then sold off by like 30% after being released, because some felt that size was what was being telegraphed to the market. As a result, Marz was rightly hesitant to put a number on it and it would have been unwise for him to speculate on something like that.
I’d submit that they’ll definitely be in that 5-10 million ounces range upon their next resource update after all that drilling is included, and likely at the higher end of it (maybe 7-8 million ounces in all categories?)
Wherever the resource comes in at after all that drilling, it will make it one of the larger gold development projects that is still controlled by a junior explorer… in a great jurisdiction of Quebec, on trend with Kirkland Lake’s Detour Lake mine, and therefore a prime takeover candidate in my opinion. This is why I was adding more to my position at the end of last year after their maiden resource came out, and at this point it is pretty bombed out and looks ripe for a re-rating higher over the next 12-18 months.
Okay got it
(WM) (WLBMF) Wallbridge Adds Near Surface Mineralization in Area 51 and Extends Tabasco/Cayenne at Depth
by @nasdaq on 12 Jan 2022
“These drilling results continue to validate substantial opportunities to increase the mineral resources within the known footprint of the Fenelon deposit, and within the extensions along strike and at depth,” stated Marz Kord, President & CEO of Wallbridge. “In Area 51, we have encountered several new intersections with open pit potential, at higher grades than the average open pit grade in our 2021 MRE. Over the course of 2022, in addition to resource expansion and exploration drilling, we will continue to target zones with the potential to deliver higher grade near surface mineralization inside the current pit shell, which will strengthen the overall economics of the open pit component of the project.”
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