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Wallbridge Announces Fenelon Resource Drill Results

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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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