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Wallbridge Continues to Add Near Surface Gold Mineralization at Fenelon and Expands New Southeast Zones
Assay Highlights Include:
Within 200 metres from surface:
- 2.66 g/t Au over 46.70 metres
- 4.19 g/t Au over 24.00 metres
- 8.91 g/t Au over 9.65 metres
Below 200 meters from surface
- 25.66 g/t Au over 1.50 metres in the recently discovered southeast extension area
Wallbridge Mining Company Limited (TSX:WM) (OTCQX:WLBMF) is pleased to report that ongoing drilling at the Company’s 100%-owned Fenelon gold project has identified additional near-surface gold mineralization, within or close to the existing Mineral Resource Estimate footprint. Furthermore, exploration drilling to the southeast of the MRE continues to delineate a gold mineralized environment showing excellent resource growth potential.
Attila Péntek, Wallbridge’s Vice President, Exploration, commented:
“Identifying strong, near-surface mineralization at Fenelon has been a key objective of our 2022 exploration program. The assays we announced today continue to validate the quality and continuity of the deposit within 200 metres of the surface. Strengthening the overall grade of the Fenelon resource was another important goal and the results we have achieved this year will also support this objective as we prepare to issue an updated MRE in the first quarter of 2023. This will be a critical input for delivering a positive Preliminary Economic Assessment of a primarily underground bulk mining operation at Fenelon, expected to be completed in the second quarter. In addition, today’s results include assays from two drill holes to the southeast of the existing MRE, demonstrating additional growth potential of the Fenelon deposit, which still remains open in nearly all directions.”
Highlight Assay Results
Tabasco-Cayenne Corridor (above 200 m vertical depth)
| FA-22-477 | 2.66 g/t Au over 46.70 metres, including |
| 6.62 g/t Au over 15.00 metres, which includes | |
| 88.69 g/t Au over 1.05 metres; | |
| FAM-22-002 | 4.19 g/t Au over 24.00 metres, including |
| 14.16 g/t Au over 5.50 metres, and | |
| 0.78 g/t Au over 63.50 metres; | |
| 19-0915-004 | 8.91 g/t Au over 9.65 metres, including |
| 69.24 g/t Au over 1.15 metres as part of the 2022 in-fill sampling program; | |
| FA-22-471 | 19.02 g/t Au over 1.30 metres; |
| FA-22-469 | 37.30 g/t Au over 0.65 metre; |
| Area 51, Near Surface (above 200 m vertical depth) | |
| FA-22-500 | 2.50 g/t Au over 8.30 metres, including |
| 6.13 g/t Au over 3.00 metres; | |
| Area 51 (below 200 m vertical depth) | |
| FA-21-233 | 9.02 g/t Au over 9.60 metres, including |
| 154.00 g/t Au over 0.50 metre, and | |
| 12.20 g/t Au over 0.65metre; | |
| FA-22-434 | 25.66 g/t Au over 1.50 metres; |
| Tabasco-Cayenne Corridor (below 200 m vertical depth) | |
| FA-22-497 | 9.30 g/t Au over 2.80 metres, including |
| 26.10 g/t Au over 0.80 metre; |
The results reported in today’s press release are from 51 drill holes completed in 2022, one 2021 hole that was extended in 2022 (FA-21-233), three holes sampled during the 2022 in-fill sample program, and one hole drilled for geomechanical purposes in support of economic studies (FAM- series). 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://wallbridgemining.com/our-projects/fenelon-gold/.
Fenelon is located within Wallbridge’s 830-square-kilometre land package on the Detour-Fenelon Gold Trend, 80 kilometres east of the Detour Lake gold mine.
Figure 1. Detour-Fenelon Gold Trend
Figure 2. Fenelon Gold, Plan View
Figure 3. Fenelon Gold, Plan View, 0-200 metres Vertical Depth
Figure 4. Fenelon Gold, Plan View, 825 metres Vertical Depth
|
Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1) |
|||||||
| Drill Hole | From | To | Length | Au | Au Cut(2) | VG(3) | Zone/Corridor |
| (m) | (m) | (m) | (g/t) | (g/t) | |||
| FENELON | |||||||
| < 200 m Vertical Depth | |||||||
| *19-0915-004 | 4.45 | 14.10 | 9.65 | 8.91 | 8.91 | Tabasco | |
| Including… | 5.85 | 7.00 | 1.15 | 69.24 | 69.24 | Tabasco | |
| FA-22-416 | No Significant Mineralization (4) | ||||||
| FA-22-417 | 679.85 | 680.35 | 0.50 | 18.40 | 18.40 | Area 51 | |
| FA-22-417-W1 | No Significant Mineralization (4) | ||||||
| FA-22-417-W2 | 1202.50 | 1203.00 | 0.50 | 20.70 | 20.70 | Area 51 | |
| FA-22-463 | 105.00 | 108.00 | 3.00 | 1.94 | 1.94 | Contact Zone | |
| FA-22-465A | 59.50 | 70.00 | 10.50 | 0.60 | 0.60 | Area 51 | |
| FA-22-465A | 76.00 | 86.85 | 10.85 | 1.19 | 1.19 | Area 51 | |
| FA-22-465-W1 | No Significant Mineralization (4) | ||||||
| FA-22-466 | 129.40 | 130.60 | 1.20 | 9.25 | 9.25 | Area 51 | |
| FA-22-468A | 115.00 | 125.50 | 10.50 | 0.98 | 0.98 | Area 51 | |
| FA-22-468A | 155.00 | 155.60 | 0.60 | 12.35 | 12.35 | VG | Area 51 |
| FA-22-469 | 131.85 | 132.50 | 0.65 | 37.30 | 37.30 | Tabasco | |
| FA-22-471 | 170.50 | 171.80 | 1.30 | 19.02 | 19.02 | Tabasco | |
| FA-22-475 | 197.00 | 203.00 | 6.00 | 0.99 | 0.99 | Area 51 | |
| FA-22-475 | 240.30 | 240.80 | 0.50 | 17.36 | 17.36 | VG | Area 51 |
| FA-22-477 | 42.00 | 47.50 | 5.50 | 1.60 | 1.60 | Area 51 | |
| FA-22-477 | 96.25 | 99.00 | 2.75 | 4.82 | 4.82 | VG | Area 51 |
| Including… | 96.25 | 96.75 | 0.50 | 25.00 | 25.00 | VG | Area 51 |
| FA-22-477 | 217.50 | 264.20 | 46.70 | 2.66 | 2.66 | Contact Zone | |
| Including… | 217.50 | 232.50 | 15.00 | 6.62 | 6.62 | Contact Zone | |
| Which Includes… | 218.25 | 219.30 | 1.05 | 88.69 | 88.69 | Contact Zone | |
| FA-22-480 | No Significant Mineralization (4) | ||||||
| FA-22-481 | 62.50 | 65.50 | 3.00 | 2.03 | 2.03 | Contact zone | |
| FA-22-482 | No Significant Mineralization (4) | ||||||
| FA-22-484 | 188.50 | 208.50 | 20.00 | 0.72 | 0.72 | Area 51 | |
| Including… | 200.00 | 208.50 | 8.50 | 0.86 | 0.86 | Area 51 | |
| FA-22-485 | 46.50 | 48.00 | 1.50 | 6.81 | 6.81 | Area 51 | |
| FA-22-487 | 277.50 | 279.00 | 1.50 | 4.89 | 4.89 | Area 51 | |
| FA-22-488 | No Significant Mineralization (4) | ||||||
| FA-22-491 | 140.90 | 149.00 | 8.10 | 0.64 | 0.64 | Area 51 | |
| FA-22-492 | 42.50 | 44.00 | 1.50 | 3.53 | 3.53 | Area 51 | |
| FA-22-492 | 118.00 | 137.50 | 19.50 | 0.60 | 0.60 | Area 51 | |
| FA-22-494 | 133.00 | 134.50 | 1.50 | 4.54 | 4.54 | Area 51 | |
| FA-22-495 | 286.00 | 288.00 | 2.00 | 3.09 | 3.09 | Cayenne | |
| FA-22-498 | 91.00 | 92.50 | 1.50 | 3.64 | 3.64 | Area 51 | |
| FA-22-498 | 256.00 | 256.50 | 0.50 | 10.35 | 10.35 | VG | Area 51 |
| FA-22-499 | No Significant Mineralization (4) | ||||||
| FA-22-500 | 154.00 | 162.30 | 8.30 | 2.50 | 2.50 | Area 51 | |
| Including… | 154.00 | 157.00 | 3.00 | 6.13 | 6.13 | Area 51 | |
| FA-22-502 | No Significant Mineralization (4) | ||||||
| FA-22-504 | 95.20 | 95.80 | 0.60 | 8.55 | 8.55 | Area 51 | |
| FAM-22-002 | 58.00 | 61.00 | 3.00 | 2.83 | 2.83 | Tabasco | |
| FAM-22-002 | 80.50 | 104.50 | 24.00 | 4.19 | 4.19 | Tabasco | |
| Including… | 80.50 | 86.00 | 5.50 | 14.16 | 14.16 | Tabasco | |
| FAM-22-002 | 137.50 | 201.00 | 63.50 | 0.78 | 0.78 | Contact Zone | |
| **Including… | 137.50 | 150.34 | 12.84 | 0.80 | 0.80 | Contact Zone | |
| FAM-22-002 | 272.00 | 275.00 | 3.00 | 3.09 | 3.09 | Area 51 | |
| Below 200 m Vertical depth | |||||||
| *FA-19-096-W1 | 897.50 | 900.50 | 3.00 | 1.99 | 1.99 | Cayenne | |
| *FA-20-155 | 685.10 | 686.00 | 0.90 | 8.92 | 8.92 | Area 51 | |
| FA-21-233 | 673.50 | 683.10 | 9.60 | 9.02 | 4.90 | VG | Area 51 |
| Including… | 673.50 | 674.00 | 0.50 | 154.00 | 75.00 | VG | Area 51 |
| And… | 682.45 | 683.10 | 0.65 | 12.20 | 12.20 | Area 51 | |
| FA-22-399 | 789.00 | 791.00 | 2.00 | 8.73 | 8.73 | Cayenne | |
| FA-22-432-W1 | 370.20 | 371.00 | 0.80 | 8.88 | 8.88 | Area 51 | |
| FA-22-434 | 524.10 | 525.60 | 1.50 | 3.63 | 3.63 | Area 51 | |
| FA-22-434 | 610.00 | 611.50 | 1.50 | 6.69 | 6.69 | Area 51 | |
| FA-22-434 | 938.00 | 939.50 | 1.50 | 25.66 | 25.66 | Area 51 | |
| FA-22-434 | 976.00 | 980.80 | 4.80 | 2.08 | 2.08 | Area 51 | |
| FA-22-434-W1 | 485.00 | 486.15 | 1.15 | 8.33 | 8.33 | Area 51 | |
| FA-22-434-W1 | 1027.00 | 1027.95 | 0.95 | 8.65 | 8.65 | Area 51 | |
| FA-22-452 | 370.65 | 372.00 | 1.35 | 5.13 | 5.13 | Area 51 | |
| FA-22-465A | 349.00 | 350.50 | 1.50 | 6.97 | 6.97 | Area 51 | |
| FA-22-468A | 565.00 | 565.50 | 0.50 | 34.98 | 34.98 | VG | Area 51 |
| FA-22-473-W1 | 995.20 | 999.00 | 3.80 | 2.63 | 2.63 | Contact zone | |
| FA-22-475 | 287.10 | 290.00 | 2.90 | 1.84 | 1.84 | Area 51 | |
| FA-22-484 | 349.90 | 351.30 | 1.40 | 3.64 | 3.64 | Area 51 | |
| FA-22-487 | 462.20 | 464.00 | 1.80 | 2.96 | 2.96 | Area 51 | |
| FA-22-487 | 628.00 | 629.00 | 1.00 | 8.36 | 8.36 | Area 51 | |
| FA-22-492 | 490.50 | 492.00 | 1.50 | 5.50 | 5.50 | Area 51 | |
| FA-22-492 | 509.00 | 509.50 | 0.50 | 14.74 | 14.74 | VG | Area 51 |
| FA-22-497 | 1020.00 | 1022.80 | 2.80 | 9.30 | 9.30 | Cayenne | |
| Including… | 1022.00 | 1022.80 | 0.80 | 26.10 | 26.10 | Cayenne | |
| FA-22-498 | 463.00 | 469.00 | 6.00 | 2.65 | 2.65 | Area 51 | |
| FA-22-500 | 780.00 | 781.50 | 1.50 | 4.65 | 4.65 | Area 51 | |
| FA-22-500 | 902.00 | 902.50 | 0.50 | 15.80 | 15.80 | Area 51 | |
| FA-22-507 | 482.50 | 485.00 | 2.50 | 3.19 | 3.19 | Area 51 | |
| FA-22-507 | 1012.00 | 1015.00 | 3.00 | 1.81 | 1.81 | Area 51 | |
| FA-22-507 | 1038.50 | 1041.50 | 3.00 | 2.14 | 2.14 | Area 51 | |
| FA-22-511 | 402.00 | 403.00 | 1.00 | 7.68 | 7.68 | Tabasco | |
| FA-22-511 | 424.00 | 425.10 | 1.10 | 4.50 | 4.50 | Tabasco | |
| RIPLEY | |||||||
| < 200 m Vertical Depth | |||||||
| FA-22-501 | 292.00 | 300.00 | 8.00 | 0.77 | 0.77 | Ripley | |
| FA-22-501 | 309.95 | 331.00 | 21.05 | 0.70 | 0.70 | Ripley | |
| FA-22-503 | 308.00 | 314.50 | 6.50 | 0.83 | 0.83 | VG | Ripley |
| FA-22-528 | 103.20 | 112.40 | 9.20 | 0.62 | 0.62 | Ripley | |
| Below 200 m Vertical depth | |||||||
| FA-22-479 | 499.40 | 508.00 | 8.60 | 1.80 | 1.80 | Ripley | |
| FA-22-483 | 394.50 | 397.50 | 3.00 | 1.74 | 1.74 | Ripley | |
| FA-22-483 | 491.30 | 493.50 | 2.20 | 3.96 | 3.96 | Ripley | |
| FA-22-496 | 635.00 | 637.25 | 2.25 | 2.43 | 2.43 | Ripley | |
| FA-22-496 | 645.50 | 646.95 | 1.45 | 5.67 | 5.67 | Ripley | |
| FA-22-503 | 326.00 | 329.00 | 3.00 | 1.76 | 1.76 | Ripley | |
| FA-22-503 | 345.00 | 349.00 | 4.00 | 4.18 | 4.18 | Ripley | |
| FA-22-505 | 427.00 | 428.50 | 1.50 | 9.70 | 9.70 | Ripley | |
| FA-22-505 | 487.00 | 488.50 | 1.50 | 5.16 | 5.16 | Ripley | |
| FA-22-508 | 436.00 | 440.05 | 4.05 | 3.84 | 3.84 | VG | Ripley |
| (1) Table includes only assay results received since the latest press release dated November 08th, 2022. | |||||||
| (2) Au cut at: 110 g/t Au for the Tabasco/Contact /Cayenne zones; 75 g/t Au for the Area 51 zones. | |||||||
| (3) Intervals containing visible gold (“VG”). | |||||||
| (4) Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 0.35 g/t Au within the 2021 MRE open pit shell and 1.5 g/t Au for outside open pit shell. | |||||||
| * New highlight from the 2022 in-fill sampling program. | |||||||
| **Contains composite from September 28, 2022 press release. | |||||||
| 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 drill program at Fenelon are cut and bagged either on-site or by contractors and transported to SGS Canada Inc. or Bureau Veritas Commodities Canada Ltd. for analysis. Samples, standards and blanks 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 or ICP. At SGS 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 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 focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend while respecting the environment and communities where it operates.
Wallbridge’s flagship project, Fenelon Gold, is located on the highly prospective Detour-Fenelon Gold Trend Property in Quebec’s Northern Abitibi region. A mineral resource estimate completed in 2021 validated the multi-million-ounce potential of the 100%-owned Fenelon and Martiniere properties, incorporating a combined 2.67 million ounces of indicated gold resources and 1.72 million ounces of inferred gold resources. Fenelon and Martiniere, located within an approximate 830 km2 exploration land package controlled by Wallbridge, have the potential to be developed into mines and are close to existing hydro-electric power and transportation infrastructure.
Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. Archer holds a portfolio of nickel assets in Ontario and Quebec.
Wallbridge will continue to focus on its core Detour-Fenelon Gold Trend Property while enabling shareholders to participate in the potential economic upside in Archer.
Posted December 8, 2022
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