Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
In preparation for its initial resource estimate due by the end of the third quarter, Wallbridge Mining (TSX: WM) is nearing completion of the definition drilling program at the Fenelon gold property 75 km northwest of Matagami, Quebec.
Work has been done on multiple areas within a 1-km by 1.2-km area in the central part of the Fenelon gold system. The company has drilled about 260,000 metres within the last three years.
The Tabasco-Cayenne-Contact zone returned these assays:
Area 51 returned these highlighted assays:
Wallbridge executives are keenly awaiting the initial resource estimate, saying it will provide a snapshot of the true potential of the Fenelon system, which remains open.
The company has a land package stretching almost 90 km east from the Quebec border and covering more than 900 sq. km of the Detour-Fenelon gold trend. The package includes the Martinere gold and the Grasset nickel sulphide projects, both of which are in the advanced exploration stage.
(This article first appeared in the Canadian Mining Journal)
