Wallbridge Mining Company Ltd.
Beschefer Project
The Beschefer project covers 6.47 km2 and is located 28 kilometres southwest of the Fenelon Gold project. High-grade gold mineralization was intersected on the B-14 Zone by prior operators (1995, and 2011-13). This large-scale mineralized structure extends for 500 metres along strike and down-dip for 600 metres, along with the presence of additional known parallel mineralized shear zones.
Current Program
The last drilling program on the property was carried out by Wallbridge at the end of 2018 and consisted of 5 drill holes totaling 1,600 metres. The assay results were announced on March 13, 2019. Mineralization typical of gold-bearing portions of the B-14 shear zone was intersected in all 5 holes at the expected depths demonstrating the continuity of the mineralized system within the two high-grade shoots.
There are currently no plans for exploration work in 2020.
Brief History
Historically, the Beschefer area has mainly been explored for volcanogenic massive sulfide deposits similar to the Matagami camp and the Selbaie mine.
Gold mineralization was discovered in the B-14 Zone in 1995 by Billiton Canada Inc. Limited exploration was carried out prior to the involvement of Excellon Resources from 2011 to 2013. They completed ~17,000 metres of drilling and intersected the highest gold grade intersections on the project, including 55.63 g/t Au over 5.57 m, 13.07 g/t Au over 8.75 m, and 10.28 g/t Au over 8.0 m. The known mineralization on the B-14 Zone extends over a strike length of 500 metres and down-dip to ~600 metres. Additional known parallel mineralized shear zones have been identified in the drilling. To date, it has only been tested by wide-spaced drilling with holes 75 to 100 metres apart.
In October 2018, Wallbridge entered into an option agreement (the “Agreement”) to acquire 100% of the Beschefer property from Lateegra Gold Corp. (“Lateegra”, a wholly-owned subsidiary of Excellon Resources), in which Wallbridge could earn 100% interest by paying 7.0 million Common Shares and incurring $4.5 million in exploration expenditures over a three-year period.
Wallbridge completed its initial drill program of five drill holes for a total of 1,600 metres at the end of 2018 and assay results were announced on March 13, 2019. Mineralization typical of gold-bearing portions of the B-14 shear zone was intersected in all five holes at the expected depths demonstrating the continuity of the mineralized system within the two high-grade shoots.
In March 2020, the Company entered into an acknowledgement, release and quitclaim agreement with Lateegra whereby Lateegra agreed to deem the exercise of the option pursuant to the Beschefer Agreement satisfied upon the issuance of 3.0 million Common Shares and 500,000 common share purchase warrants exercisable for $1.00 per Common Share and expiring five years from the date of issuance.
Geology and Mineralization
The Beschefer project is located in a favorable orogenic setting 45 kilometres northeast of the Casa Berardi gold mine (Hecla Mining) and 28 kilometres southwest of the Fenelon Gold deposit. The geology of the property is predominantly intermediate to felsic volcanic rocks of the Harricana-Turgeon volcanic belt of the Brouillan volcanic complex. The main structure identified to date on the project is the northeast-southwest trending B-14 Zone, an intensely sheared deformation zone with strong sericite, ankerite, and hematite alteration containing quartz veining and pyrite. The known mineralization on the B-14 Zone extends over a strike length of 500 metres and down-dip (southeast) to a depth of nearly 600 metres. Additional known parallel mineralized shear zones have been identified in the drilling.
Source: https://wallbridgemining.com/our-projects/other-gold-assets/beschefer/
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IT Technician (Support IT), Fénélon Project
The technician IT will report to the Project Manager, the schedule is 4/3.