Name of the Project
Fenelon gold project.

Location
Abitibi greenstone belt, along the Detour-Fenelon Gold Trend, in Quebec, Canada.

Project Owner/s
Wallbridge Mining Company.

Project Description
A preliminary economic assessment has determined average gold production of 212 000 oz/y over 12.3 years.

The underground mine will produce 7 000 t/d over a 12.3-year mine life.

The processing plant will consist of a semiautogenous grinding mill in closed circuit, with a pebble crusher and ball mill in closed circuit with cyclones (semiautogenous ball mill crusher circuit).

The crushing circuit will consist of a temporary crusher at surface operated by a contractor until the production shaft is operational. A gravity circuit followed by leaching will recover coarse gold from the cyclone underflow, while the cyclone overflow is treated in a preleach tank and in a seven-tank carbon in-leach circuit, followed by sulphur dioxide/air cyanide destruction.

Gold will be recovered in an adsorption-desorption-recovery Zedra process circuit and electrowinning cells with gold room recovery and production of gold bars, which will be shipped to mint facilities for purification.

A total of 30.8-million tonnes of mineralised material at an average grade of 2.73 g/t will be extracted from three different mining zones:

• Tabasco-Cayenne zones, with 68.5% of the ounces to be mined;
• Area 51 zones, with 31.1% of the ounces to be mined; and
• Gabbro zones, with 0.4% of the ounces to be mined.

Priority will be given the main Tabasco ramp and production centres. The mineralised material will generate 10% of the total gold production.

Longhole mining methods, with longitudinal stopes of 5 m to 8 m in width, will be used, corresponding to 40% of the stope tonnage.

Transverse stopes are designed for stopes of 8 m to more than 15 m width, which account for 60% of the remaining stope tonnage. Development will be conducted by a mining contractor during preproduction Year 1. In preproduction Year 2, development will be undertaken with owner equipment-personnel.

The mining fleet, comprising 99 pieces of mobile equipment, will be bought through a lease financing agreement. Supporting underground infrastructure will include several main pumping stations, two ventilation and heating systems and one exhaust raise.

Potential Job Creation
During production, the average number of employees and contractors will be 535 with a maximum at 670. The maximum employees and contractor on site will reach 340. During the preproduction period, the average number of employees, contractor and construction workers will be 490 with a peak of 690 during the second half of pre-production Year 2.

Net Present Value/Internal Rate of Return
In the base case Fenelon has a pretax net present value, at a 5% discount rate, of C$1.21-billion and an internal rate of return of 23%, with a payback of 5.4 years.

Capital Expenditure
Initial capital expenditures are estimated at C$645-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Wallbridge Mining, tel +1 705 682 9297 or email info@wallbridgemining.com.