Resource World Magazine

O C T O B E R / N O V E M B E R 2 0 1 8 www.resourceworld.com 47 MINING gold content of 2,440 ounces and a second large specimen stone of 63 kg with an esti- mated gold content of 1,620 ounces. Final ounces will be determined once the coarse gold is processed and/or sold shortly, which is expected to yield approximately $15 million in cash. All of the high-grade coarse gold is hand-picked, direct ship ore and immediately sent from site directly to the Perth Mint. Wallbridge Mining Company Ltd. [WM-TSX; WC7-FSE] continues to receive positive results from its underground drill program and has provided an update on the continuing development as part of the 35,000-tonne bulk sample and under - ground exploration program at its 100% Fenelon gold property 75 km northwest of Matagami, Québec. Visible gold was observed to be present in 37 of 56 holes drilled to date. Recent assays include 65.76 g/t gold over 2.25 metres in the Chipotle Zone; 144.96 g/t gold over 2.12 metres in the Chipotle Zone and 40.69 g/t gold over 4.28 metres in the Naga Viper zone; 12.68 g/t gold over 3.51 metres and 9.04 g/t gold over 5.30 metres in the Chipotle Zone; 137.63 g/t gold over 4.85 metres in the Naga Viper Zone, 18.70 g/t gold over 8.00 metres and 39.10 g/t gold over 1.00 metre in the Chipotle Zone; and 611.00 g/t gold over 0.50 metres in the Naga Viper Zone. Assay results from 34 drill holes are pending. These excellent drill results follow ear - lier ones, including 10.3 metres of 49.06 g/t gold in the Chipotle Zone and 29.23 g/t gold over 4.80 metres in the Chipotle Zone. The second stope (NV-01) is being pre- pared and the ramp has reached the second level (5180 level). Close to 5,000 tonnes of ore have been shipped to the Camflo mill for processing. "Our drilling to date has mainly focused on the top 100 metres of the deposit. The successful results to date indicate that our original exploration target of 400 ounces per vertical metre has now increased to a range of 800 to 1,000 ounces per vertical metre and the continued drilling is prov - ing this up in preparation for the updated resource to be completed after the bulk sample," stated Marz Kord, President and CEO. "This is very comparable to other well-known, high-grade Abitibi gold deposits. The planned 2018 drilling from underground and surface should allow us to define the extension and size potential of the deposit to depth." The bulk sample is expected to pro - duce 19,000 to 26,000 ounces of gold with close to 50% of gold priced at $1,720/oz. 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 bud - geted working capital requirements. SilverCrest Metals Inc. [SIL-TSXV; SVCMF-OTCQX] has released new drill results for the Granaditas and the new Granaditas Dos vein on the 100%-owned Las Chispas property in Sonora, Mexico. The compilation of these new drill holes expands the high-grade footprint for the Granaditas vein and introduces the Granaditas Dos vein. These veins are approximately 40 metres apart and may intersect to the southeast. As previously reported, there are now 30 known epithermal veins on the prop - erty, including 12 significant veins which have drill intersected high-grade miner- alization, consisting of the Babicanora, Babicanora footwall, Babicanora Norte, Las Chispas, Giovanni, including La Blanquita, William Tell, Varela, Granaditas, Granaditas Dos, Luigi and Amethyst veins. Five of the 30 veins have been included in the maiden resource estimate. Silvercrest expects at least eight veins to be included in the resource update expected in the third quarter of 2018. The most significant result was from hole GR18-15 in the Granaditas vein, which intersected 1.3 metres (estimated true width) grading 4.2 g/t gold and 229.0 g/t silver, or 543 g/t silver equivalent with average metallurgical recoveries of 86.6% silver and 98.9% gold, including 0.5 metre grading 1,274 g/t AgEq. Also noteworthy is hole GR18-15 in an unnamed vein, which intersected 1.4 metres grading 2.5 g/t gold, 799.0 g/t silver or 988 g/t AgEq including 0.6 metres grading 2,530 g/t AgEq. Kutcho Copper Corp. [KC-TSXV] has released initial drill results from the Esso deposit at its 100%-owned Kutcho high- grade copper-zinc project located 100 km east of Dease Lake, northern British Columbia and has entered into the mineral resource expansion drilling phase of the 2018 field program. Drill hole KC18-038-W1 returned 28 metres of 2.09% copper, 6.1% zinc, 65.8 g/t silver and 0.82 g/t gold or a copper equivalent of 5.7%, including a 10.4-metre massive sulphide intersection of 3.80% copper, 14.4% zinc, 134.6 g/t silver and 1.84 g/t gold or a CuEq of 12%. In addition, drill hole KC18-227-W1 intersected massive to semi-massive sulphide mineralization that returned 1.17% copper, 2.5% zinc, 45.7 g/t silver and 0.57 g/t gold, or 3% CuEq over 3.2 metres. Monarques Gold Corp. [MQR-TSXV; MRQRF-OTC] has released additional assay results from the 2018 diamond drilling program at its 100%-owned Croinor gold project 50 km east of Val d'Or, Québec. The 20,000-metre program started in March 2018 and is focused on the expansion and infilling of the Croinor gold deposit. The Phase 2 results are from a total of 5,327 metres of drilling in 27 holes. Phase 2 drill - ing is complete, with assays pending, and Phase 3 drilling has started. Hole CR-18-606 returned 8.24 g/t gold over 9.0 metres, including 26.38 g/t gold over 2.6 metres. This intersection lies 328 vertical metres below surface, 54 metres north of and 34 metres below the mineral - ized intersection of hole CN-88-133, which was used to design the deepest stope in the mining plan. Hole CR-18-610 returned 5.67 g/t gold over 7.0 metres just below the 500-foot- level drift of the old mine, enlarging a planned stope on this level. "Drilling on Croinor gold continues to generate excellent results," said Jean-Marc Lacoste, President and CEO of Monarques. "Like Phase 1, Phase 2 was a success, strik - ing mineralized zones in 26 of the 27 holes, returning a number of high-grade intersec- tions and enabling us to confirm the grades

• Cover