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Wallbridge Announces Fenelon Resource Drill Results
Wallbridge Mining Company Limited (TSX:WM) (OTCQX:WLBMF) announced further positive assay results from its resource drill program on the Fenelon Gold Property.
The assay results announced today are from drill holes that were part of the Company’s drill program in support of the maiden mineral resource estimate on the Fenelon Gold System (see Wallbridge press release dated November 9, 2021). The complete results of these drill holes were not received in time for inclusion into the MRE, however, they now provide us with further confidence on the robustness of the resource.
The Company plans to continue with its exploration and underground development program for the balance of this year. Future exploration programs are currently being developed and will be disclosed when available.
“With almost 60% of the mineral resources both at Fenelon and Martiniere being in the indicated category, future drill programs will dominantly focus on significantly growing the mineral resources and enhancing our knowledge of the deposits,” stated Marz Kord, President & CEO of Wallbridge. “We are also progressing well with various studies, such as metallurgical test work and geotechnical work in support of an economic study.”
Drill hole intersections that are located within indicated or inferred blocks of the November 2021 MRE are reported as “in-fill drill results,” while intercepts outside of those blocks are reported as “expansion drill results”.
Resource In-fill Drill Results
Highlight in-fill intersections since our last news release from this program include:
| FA-21-266 | 2.30 g/t Au over 19.55 metres in Area 51, and | ||||
| 1.71 g/t Au over 35.55 metres, including | |||||
| 4.73 g/t Au over 5.40 metres in the Tabasco Zone; | |||||
| FA-21-266-W4 | 3.84 g/t Au over 21.15 metres, including | ||||
| 26.25 g/t Au over 1.50 metres, and | |||||
| 5.60 g/t Au over 5.60 metres in the Tabasco Zone; | |||||
| FA-21-279 | 8.94 g/t Au over 4.00 metres, including | ||||
| 26.59 g/t Au over 1.30 metres, and | |||||
| 2.50 g/t Au over 16.10 metres, including | |||||
| 3.16 g/t Au over 12.20 metres in the Contact Zone, and | |||||
| 5.18 g/t Au over 8.00 metres, including | |||||
| 29.48 g/t Au over 1.10 metres in the Tabasco Zone; | |||||
| FA-21-283B | 10.98 g/t Au over 8.40 metres, including | ||||
| 29.95 g/t Au over 3.00 metres, and | |||||
| 1.22 g/t Au over 23.25 metres in the Contact Zone; | |||||
| FA-21-284 | 3.66 g/t Au over 7.95 metres in the Contact Zone; | ||||
| FA-21-285 | 1.04 g/t Au over 43.90 metres in the Contact Zone; | ||||
| FA-21-289 | 3.13 g/t Au over 11.00 metres, including | ||||
| 5.23 g/t Au over 5.70 metres, and | |||||
| 2.07 g/t Au over 35.00 metres, including | |||||
| 9.37 g/t Au over 5.60 metres in Area 51. | |||||
Resource Expansion Drill Results
Highlight expansion intersections since our last news release from this program include:
| FA-21-296 | 0.55 g/t Au over 47.40 metres, including | ||||
| 4.84 g/t Au over 3.00 metres in Area 51. | |||||
Assay results from 26 drill holes of the 2021 Fenelon drill program are reported in the table and figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program”at
https://www.wallbridgemining.com/s/fenelon.asp
Figure 1. Fenelon Gold, Plan View
https://www.globenewswire.com/NewsRoom/AttachmentNg/5146b0ba-65aa-4cb0-8d02-2a5b19e58c8c
Figure 2. Fenelon Gold, Long Section
https://www.globenewswire.com/NewsRoom/AttachmentNg/6a01649d-a573-4ec7-9b48-e1f65801806c
| Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1) | ||||||||||||||
| Drill Hole | From | To | Length | Au | Au Cut (2) | VG (3) | Zone/ Corridor | Section | In-fill or Expansion | |||||
| (m) | (m) | (m) | (g/t) | (g/t) | ||||||||||
| FA-19-096-W2 | 705.5 | 712.3 | 6.8 | 0.94 | 0.94 | Area 51 | 10125 | In-fill within pit | ||||||
| FA-20-153-W1 | 671.85 | 672.35 | 0.5 | 22.69 | 22.69 | VG | Area 51 | 10425 | In-fill outside pit | |||||
| FA-20-153-W1 | 786.35 | 797.65 | 11.3 | 0.73 | 0.73 | VG | Area 51 | 10425 | In-fill outside pit | |||||
| Including… | 794.5 | 797.65 | 3.15 | 1.65 | 1.65 | Area 51 | 10425 | In-fill outside pit | ||||||
| FA-20-153-W1 | 811.85 | 812.35 | 0.5 | 19.6 | 19.6 | VG | Area 51 | 10425 | In-fill outside pit | |||||
| FA-20-154-W1 | No Significant Mineralization (4) | 9975 | ||||||||||||
| FA-21-252 | 231.5 | 249 | 17.5 | 0.48 | 0.48 | Area 51 | 10200 | Expansion | ||||||
| FA-21-263-W1 | No Significant Mineralization (4) | 10425 & 10500 | ||||||||||||
| FA-21-266 | 835 | 836 | 1 | 7.27 | 7.27 | Area 51 | 10275 | In-fill outside pit | ||||||
| FA-21-266 | 1118.8 | 1138.35 | 19.55 | 2.3 | 2.3 | Area 51 & Contact Zone | 10275 | In-fill outside pit | ||||||
| Including… | 1135.6 | 1138.35 | 2.75 | 10.23 | 10.23 | Contact Zone | 10275 | In-fill outside pit | ||||||
| FA-21-266 | 1162.1 | 1197.65 | 35.55 | 1.71 | 1.71 | Tabasco | 10275 | In-fill outside pit | ||||||
| Including… | 1192.25 | 1197.65 | 5.4 | 4.73 | 4.73 | Tabasco | 10275 | In-fill outside pit | ||||||
| FA-21-266-W3 | No Significant Mineralization (4) | 10425 & 10500 | ||||||||||||
| FA-21-266-W4 | 939.2 | 942.35 | 3.15 | 3.76 | 3.76 | Area 51 | 10250 | In-fill outside pit | ||||||
| FA-21-266-W4 | 1126 | 1147.15 | 21.15 | 3.84 | 3.84 | VG | Tabasco | 10350 | In-fill outside pit | |||||
| Including… | 1126 | 1127.5 | 1.5 | 26.25 | 26.25 | Tabasco | 10350 | In-fill outside pit | ||||||
| And… | 1137.4 | 1143 | 5.6 | 5.6 | 5.6 | VG | Tabasco | 10350 | In-fill outside pit | |||||
| FA-21-275 | No Significant Mineralization (4) | 9750 | ||||||||||||
| FA-21-279 | 68.1 | 79.5 | 11.4 | 1.04 | 1.04 | Contact Zone | 10125 | In-fill within pit | ||||||
| FA-21-279 | 232.9 | 250.1 | 17.2 | 1.53 | 1.53 | VG | Contact Zone | 10125 | In-fill within pit | |||||
| Including… | 232.9 | 235.5 | 2.6 | 4.81 | 4.81 | Contact Zone | 10125 | In-fill within pit | ||||||
| And… | 247.7 | 250.1 | 2.4 | 5.45 | 5.45 | VG | Contact Zone | 10125 | In-fill within pit | |||||
| FA-21-279 | 351.5 | 355.5 | 4 | 8.94 | 8.94 | VG | Contact Zone | 10125 | In-fill within pit | |||||
|
Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1) |
||||||||||||||
| Drill Hole | From | To | Length | Au | Au Cut (2) | VG (3) | Zone/ Corridor | Section | In-fill or Expansion | |||||
| (m) | (m) | (m) | (g/t) | (g/t) | ||||||||||
| Including… | 351.5 | 352.8 | 1.3 | 26.59 | 26.59 | VG | Contact Zone | 10125 | In-fill within pit | |||||
| FA-21-279 | 383 | 383.5 | 0.5 | 24.7 | 24.7 | Contact Zone | 10125 | In-fill within pit | ||||||
| FA-21-279 | 396.4 | 412.5 | 16.1 | 2.5 | 2.5 | VG | Contact Zone | 10125 | In-fill within pit | |||||
| Including… | 396.4 | 408.6 | 12.2 | 3.16 | 3.16 | VG | Contact Zone | 10125 | In-fill within pit | |||||
| Which Includes… | 408 | 408.6 | 0.6 | 28.8 | 28.8 | VG | Contact Zone | 10125 | In-fill within pit | |||||
| FA-21-279 | 454.5 | 463.5 | 9 | 1.05 | 1.05 | Contact Zone | 10125 | In-fill within pit | ||||||
| FA-21-279 | 580 | 588 | 8 | 5.18 | 5.18 | Tabasco | 10125 | In-fill within pit | ||||||
| Including… | 586 | 587.1 | 1.1 | 29.48 | 29.48 | Tabasco | 10125 | In-fill within pit | ||||||
| FA-21-279 | 631 | 644 | 13 | 0.63 | 0.63 | Tabasco | 10125 | In-fill within pit | ||||||
| FA-21-283A | No Significant Mineralization (4) | 9750 | In-fill within pit | |||||||||||
| FA-21-283B | 244.25 | 258.1 | 13.85 | 0.73 | 0.73 | Contact Zone | 10125 | In-fill within pit | ||||||
| FA-21-283B | 368 | 376.4 | 8.4 | 10.98 | 10.98 | Contact Zone | 10125 | In-fill within pit | ||||||
| Including… | 368 | 371 | 3 | 29.95 | 29.95 | Contact Zone | 10125 | In-fill within pit | ||||||
| FA-21-283B | 390.9 | 414.15 | 23.25 | 1.22 | 1.22 | VG | Contact Zone | 10200 | In-fill within pit | |||||
| Including… | 402 | 403 | 1 | 10.89 | 10.89 | VG | Contact Zone | 10200 | In-fill within pit | |||||
| And… | 413 | 414.15 | 1.15 | 7.98 | 7.98 | Contact Zone | 10200 | In-fill within pit | ||||||
| FA-21-283B | 539 | 557 | 18 | 0.57 | 0.57 | Tabasco | 10200 | In-fill within pit | ||||||
| FA-21-284 | 217 | 241.6 | 24.6 | 0.61 | 0.61 | Contact Zone | 10350 | In-fill within pit | ||||||
| Including… | 217 | 221.5 | 4.5 | 1.82 | 1.82 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-284 | 389.7 | 391.15 | 1.45 | 3.74 | 3.74 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-284 | 416.3 | 424.25 | 7.95 | 3.66 | 3.66 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-284 | 474.5 | 484.8 | 10.3 | 0.66 | 0.66 | Tabasco | 10350 | In-fill within pit | ||||||
|
Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1) |
||||||||||||||
| Drill Hole | From | To | Length | Au | Au Cut (2) | VG (3) | Zone/ Corridor | Section | In-fill or Expansion | |||||
| (m) | (m) | (m) | (g/t) | (g/t) | ||||||||||
| FA-21-285 | 112.85 | 116.35 | 3.5 | 7.76 | 7.76 | VG | Contact Zone | 10350 | In-fill within pit | |||||
| Including… | 115.75 | 116.35 | 0.6 | 41.83 | 41.83 | VG | Contact Zone | 10350 | In-fill within pit | |||||
| FA-21-285 | 185.4 | 196 | 10.6 | 0.85 | 0.85 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-285 | 247 | 278.5 | 31.5 | 0.48 | 0.48 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-285 | 298 | 309.65 | 11.65 | 1.67 | 1.67 | Contact Zone | 10350 | In-fill within pit | ||||||
| Including… | 300.3 | 301 | 0.7 | 14 | 14 | Contact Zone | 10350 | In-fill within pit | ||||||
| And… | 308.1 | 309.65 | 1.55 | 5.35 | 5.35 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-285 | 340.7 | 368.25 | 27.55 | 0.6 | 0.6 | Contact Zone | 10350 | In-fill within pit | ||||||
| Including… | 354.45 | 355 | 0.55 | 11 | 11 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-285 | 422.1 | 466 | 43.9 | 1.04 | 1.04 | Contact Zone | 10350 | In-fill within pit | ||||||
| Including… | 425 | 428.05 | 3.05 | 5.53 | 5.53 | Contact Zone | 10350 | In-fill within pit | ||||||
| And… | 443.65 | 448 | 4.35 | 3.44 | 3.44 | Contact Zone | 10350 | In-fill within pit | ||||||
| And… | 464.5 | 466 | 1.5 | 5.07 | 5.07 | Contact Zone | 10350 | In-fill within pit | ||||||
| FA-21-287 | 310 | 313.3 | 3.3 | 4.25 | 4.25 | VG | Area 51 | 9750 | In-fill within pit | |||||
| Including… | 311 | 311.5 | 0.5 | 23.71 | 23.71 | VG | Area 51 | 9750 | In-fill within pit | |||||
| FA-21-289 | 537 | 548 | 11 | 3.13 | 3.13 | Area 51 | 10250 | In-fill within pit | ||||||
| Including… | 537 | 542.7 | 5.7 | 5.23 | 5.23 | Area 51 | 10250 | In-fill within pit | ||||||
| FA-21-289 | 563 | 598 | 35 | 2.07 | 2.07 | Area 51 | 10250 | In-fill within pit | ||||||
| Including… | 578.4 | 584 | 5.6 | 9.37 | 9.37 | Area 51 | 10250 | In-fill within pit | ||||||
| FA-21-290 | 140.5 | 141 | 0.5 | 10.1 | 10.1 | Area 51 | 9825 | In-fill within pit | ||||||
| FA-21-290 | 168 | 184.2 | 16.2 | 1.6 | 1.6 | VG | Area 51 | 9825 | In-fill within pit | |||||
| Including… | 183.7 | 184.2 | 0.5 | 32.81 | 32.81 | VG | Area 51 | 9825 | In-fill within pit | |||||
| FA-21-290 | 237.5 | 238 | 0.5 | 31.23 | 31.23 | VG | Area 51 | 9825 | In-fill within pit | |||||
| FA-21-290 | 258 | 275.5 | 17.5 | 1.42 | 1.42 | Area 51 | 9825 | In-fill within pit | ||||||
| Including… | 265.5 | 271 | 5.5 | 2.43 | 2.43 | Area 51 | 9825 | In-fill within pit | ||||||
| FA-21-294 | 306 | 324 | 18 | 0.35 | 0.35 | Area 51 | 9500 | Expansion | ||||||
|
Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1) |
||||||||||||||
| Drill Hole | From | To | Length | Au | Au Cut (2) | VG (3) | Zone/ Corridor | Section | In-fill or Expansion | |||||
| (m) | (m) | (m) | (g/t) | (g/t) | ||||||||||
| Including… | 314.5 | 316 | 1.5 | 3.45 | 3.45 | Area 51 | 9500 | Expansion | ||||||
| FA-21-296 | 152.5 | 199.9 | 47.4 | 0.55 | 0.55 | Area 51 | 9500 | Expansion | ||||||
| Including… | 152.5 | 155.5 | 3 | 4.84 | 4.84 | Area 51 | 9500 | Expansion | ||||||
| And… | 196.15 | 199 | 2.85 | 2.96 | 2.96 | Area 51 | 9500 | Expansion | ||||||
| FA-21-302 | No Significant Mineralization (4) | 9900 | ||||||||||||
| FA-21-303 | 167.5 | 185.2 | 17.7 | 0.65 | 0.65 | Area 51 | 9525 | Expansion | ||||||
| Including… | 167.5 | 168.5 | 1 | 7.53 | 7.53 | Area 51 | 9525 | Expansion | ||||||
| FA-21-306 | 205 | 220 | 15 | 0.53 | 0.53 | Area 51 | 10425 | In-fill outside pit | ||||||
| FA-21-306 | 290 | 298 | 8 | 3.26 | 3.26 | Area 51 | 10425 | In-fill outside pit | ||||||
| Including… | 290 | 291.3 | 1.3 | 18.84 | 18.84 | Area 51 | 10425 | In-fill outside pit | ||||||
| FA-21-306 | 337 | 338.5 | 1.5 | 5.23 | 5.23 | Area 51 | 10425 | In-fill outside pit | ||||||
| FA-21-308 | 122.5 | 134.5 | 12 | 0.52 | 0.52 | Area 51 | 9525 | Expansion | ||||||
| Including… | 133 | 134.5 | 1.5 | 3.67 | 3.67 | Area 51 | 9525 | Expansion | ||||||
| FA-21-309 | No Significant Mineralization (4) | 9600 & 9675 | ||||||||||||
| FA-21-312 | No Significant Mineralization (4) | 10800 | ||||||||||||
| (1) | Table includes only assay results received since the latest press release dated October 6, 2021. | |
| (2) | Au cut: High-grade capping is 75g/t Au for Area 51 and 110 g/t Au for Tabasco-Cayenne-Contact Zones. | |
| (3) | Intervals containing visible gold. | |
| (4) | Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au. | |
| Note: True widths are estimated to be 50‒80% of the reported core length intervals. | ||
Assay QA/QC and Qualified Persons
Drill core samples from the ongoing 2021 drill program at Fenelon are cut and bagged either on site or by contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities Canada Ltd. for analysis. In 2020 samples were submitted to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, AGAT and Bureau Veritas samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.
The Qualified Person responsible for the technical content of this press release is Peter Lauder, P.Geo, Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property which is located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Québec. Within three years of the discovery of the Area 51 and Tabasco-Cayenne Zones, through drill programs totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for Fenelon and an updated MRE for the Martiniere Gold Property totalling 2.67 Moz Au in the indicated category and 1.72 Moz Au in the inferred category (for details of the MREs see Wallbridge press release dated November 9, 2021).
Both properties are located on the Company’s 910 km2 land package along the Detour-Fenelon Gold Trend in Northern Abitibi, Québec, with significant potential for further discoveries over a 97‒kilometre strike length of this underexplored belt.
Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario’s Sudbury Basin.
Posted December 9, 2021
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