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Wallbridge Continues to Produce Strong Drill Results from its Definition and Expansion Drill Program at Fenelon

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Wallbridge Continues to Produce Strong Drill Results from its Definition and Expansion Drill Program at Fenelon

 

 

 

 

 

Wallbridge Mining Company Limited (TSX:WMis pleased to announce that its 2021 definition and expansion drill program on the Fenelon Gold Property continues to confirm the grade and geometry of the central portions of the Tabasco-Cayenne and Area 51 Zones and expand the mineralized footprint.

 

Drilling is currently focusing on various areas within the approximately 1.0 km by 1.2 km central portion of the Fenelon Gold System, in order to collect additional information to expand and better define the mineralization in support of a maiden mineral resource estimate planned for Q3 2021 (Fig. 2). Highlight results from these various areas, released today, include:

 

  • Tabasco-Cayenne-Contact Zone, Definition Drilling: 8.57 g/t Au over 10.35 metres in FA-21-226-W1 and 16.67 g/t Au over 4.55 metres in FA-21-221-W4, with surrounding assays pending (see Figs. 14 and 6);
  • Area 51, Definition Drilling (near surface above 250 m vertical depth – potential open pit resource): 3.46 g/t Au over 47.50 metres in FA-21-241 (see Figs. 3 and 5);
  • Area 51, Definition Drilling (below 250 m depth): 284 g/t Au over 0.60 metres in FA-21-226-W1 and 2.09 g/t Au over 24.15 metres in FA-20-215 (see Fig. 5 and 6);
  • Area 51, Near Surface Southwest Expansion Drilling: 34.99 g/t Au over 5.70 metres, including 351.00 g/t Au over 0.55 metres in FA-20-228 (see Fig. 3);

 

“The results released today are from multiple target areas and contain a mix of the various mineralization types within the Fenelon Gold System,” stated Attila Péntek, Vice President Exploration of Wallbridge. “The Tabasco-Cayenne intersections are filling in larger gaps between previous intersections in the western part of the known extent of these zones and confirm good underground bulk mining potential, whereas Area 51 yields strong intersections of potentially bulk mineable zones both near surface and underground. Our definition drill program at 75-metre drill spacing is progressing well and we are on track to complete this in-fill drilling by the summer, in support of the maiden mineral resource estimate later this year.”

 

“In addition, our expansion drill program focusing on growing the known footprint of near surface Area 51 mineralization in support of the open pit component of our 2021 resource estimate has shown good results. Not only have we intersected strong mineralization hosted inside the Jeremie Diorite, but in certain areas the mineralization also extends into the adjacent sedimentary rocks, as exemplified by the high-grade intersection in hole FA-21-228 reported today.”

 

Tabasco-Cayenne-Contact Zones, Definition Drill Results

 

Definition and expansion drilling at a nominal 75-metre drill spacing, targeting the Tabasco-Cayenne-Contact Zones has been focusing on a strike length of approximately 800 metres and vertical depths between 300 and 1,000 metres in order to define the geometry and grade of the zones and gain information on the structural controls on gold mineralization.

 

Highlight intersections from this drill program in the Tabasco-Cayenne-Contact Zones, reported today include:

 

  FA-21-226-W1 2.29 g/t Au over 29.40 metres, including
      5.85 g/t Au over 8.90 metres in the Contact Zone, and
    8.57 g/t Au over 10.35 metres, including
      29.94 g/t Au over 2.65 metres in the Tabasco Zone (see Figs. 1, and 4);
       
  FA-21-221-W4 16.67 g/t Au over 4.55 metres in the Tabasco Zones (see Figs. 1 and 6);
    Note: Further assay results around this interval are pending 
       
  FA-20-215 2.54 g/t Au over 32.50 metres, including
      3.87 g/t Au over 9.50 metres, and
      3.70 g/t Au over 5.85 metres in the Tabasco Zones (see Figs. 1, and 6);
       
  FA-21-230-W1 2.25 g/t Au over 24.80 metres, including
      8.15 g/t Au over 4.40 metres in the Tabasco Zone, and
    3.61 g/t Au over 8.80 metres, including
      5.88 g/t Au over 4.20 metres in the Cayenne Zone(see Figs. 1, and 4);
       
  FA-19-094-W3 7.21 g/t Au over 5.05 metres in the Cayenne Zone (see Fig. 1);
     

 

 

Area 51 Definition Drill Results

 

As our drill holes approach Tabasco-Cayenne, they also transect the Area 51 gold vein network, thereby collecting crucial information from all of these zones as well.

 

Near surface (down to 250 m vertical depth) highlights from Area 51 zones from the holes reported today include:

   
  FA-21-241 3.46 g/t Au over 47.50 metres, including
      52.38 g/t Au over 2.50 metres (see Figs. 3 and 5);
    Note: Further assay results around this interval are pending 
       
  FA-21-230 0.84 g/t Au over 149.00 metres, including
      1.29 g/t Au over 14.10 metres and
      141 g/t Au over 0.55 metres (see Figs. 3 and 4);
       
 

Highlight intersections of Area 51 zones from below 250 m vertical depth reported today include:

       
  FA-21-226-W1 284 g/t Au over 0.60 metres (see Fig. 5);
    Note: Further assay results around this interval are pending 
       
  FA-20-215 2.09 g/t Au over 24.15 metres, including
      19.92 g/t Au over 2.00 metres (see Fig. 6);

 

Area 51 Expansion Drill Results

 

In recent weeks, two drill rigs have been focusing on expanding the known footprint of near-surface gold mineralization in the western-southwestern portion of Area 51 in order to grow the open pit resource potential.

 

Highlight intersections from this program reported today include:

       
  FA-20-228 34.99 g/t Au over 5.70 metres, including
      351.00 g/t Au over 0.55 metres (see Fig. 3);
       
  FA-20-240 1.00 g/t Au over 15.00 metres (see Fig. 3);
       
  FA-20-234 0.72 g/t Au over 34.85 metres (see Fig. 3);

2020-2021 Drilling Program Update

 

In 2021, the Company is planning to complete approximately 170,000 metres of drilling, with a maiden mineral resource estimate at Fenelon anticipated in the third quarter of 2021 (see Wallbridge Press Release dated January 11, 2021). Approximately 10-15% of the drill program will be devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

 

Assay results of 27 drill holes of the 2020/2021 exploration 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, Tabasco-Cayenne-Gabbro Zones Long Section


https://www.globenewswire.com/NewsRoom/AttachmentNg/e9a3db96-7e65-4342-bd87-ea2f7dc81d99

 

Figure 2. Fenelon Gold, Plan View


https://www.globenewswire.com/NewsRoom/AttachmentNg/99c4f12f-862f-425d-96c9-8772f19546c9

 

Figure 3. Fenelon Gold, Zoomed-In Plan View, Surface down to 250 m Depth


https://www.globenewswire.com/NewsRoom/AttachmentNg/e94950a5-5a3a-4f59-be77-dc2d4c4e9373

 

Figure 4. Fenelon Gold, Cross Section 9975_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/0d2b79f9-53e8-4c43-9598-04cb3770a5f6

 

Figure 5. Fenelon Gold, Cross Section 10050_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/4d60f7bb-a1aa-422f-a72e-4821f5ce2c40

 

Figure 6. Fenelon Gold, Cross Section 10125_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/f9f3440c-0d36-4212-8819-73592038bd9e

 

 

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
  (m) (m) (m) (g/t) (g/t)      
FA-19-086-W5* 323.00 331.00 8.00 1.64 1.64   Area 51 ‒ Laika 10200
FA-19-086-W5 493.00 501.00 8.00 1.70 1.70   Contact Zone 10200
Including… 499.00 501.00 2.00 5.65 5.65   Contact Zone 10200
FA-19-086-W5 536.00 537.00 1.00 6.32 6.32   Contact Zone 10200
FA-19-094-W3 817.00 822.05 5.05 7.21 7.21 VG Cayenne 10200
FA-20-110 53.00 54.00 1.00 7.15 7.15   Area 51 ‒ Orion 9975
FA-20-113* 268.05 288.10 20.05 0.74 0.74   Area 51 ‒ Laika 9975
Including… 268.05 268.85 0.80 6.78 6.78   Area 51 ‒ Laika 9975
FA-20-134 249.50 251.00 1.50 4.78 4.78   Area 51 ‒ Titan 9975
FA-20-181* 307.95 380.80 72.85 1.11 1.11   Area 51 ‒ Laika 10125
Including… 307.95 308.80 0.85 9.60 9.60   Area 51 ‒ Laika 10125
FA-20-207 63.00 64.00 1.00 5.53 5.53   Area 51 9825
FA-20-207 117.55 118.75 1.20 9.86 9.86   Area 51 ‒ MIB 9825
FA-20-207 154.00 156.00 2.00 4.11 4.11   Area 51 ‒ MIB 9825
FA-20-207 251.35 252.00 0.65 16.40 16.40   Tabasco 9825
FA-20-207 322.85 324.25 1.40 5.15 5.15   Tabasco 9825
FA-20-209 No Significant Mineralization(4) 11025
FA-20-210 618.65 625.10 6.45 1.18 1.18 VG Area 51 ‒ Andromeda 10125
FA-20-210 864.65 865.80 1.15 5.22 5.22   Area 51 ‒ Enterprise 10125
FA-20-210 1059.25 1062.00 2.75 2.65 2.65   Tabasco 10125
FA-20-210 1091.50 1094.50 3.00 1.77 1.77   Tabasco 10125
FA-20-211 No Significant Mineralization(4) 9675
 
 

 

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
  (m) (m) (m) (g/t) (g/t)      
FA‒20‒215 206.00 243.00 37.00 0.75 0.75 VG Area 51‒ Titan 10125
Including… 211.85 227.50 15.65 1.10 1.10 VG Area 51‒ Titan 10125
FA‒20‒215 352.50 379.50 27.00 1.08 1.08 VG Area 51‒ Laika 10125
Including… 352.50 356.60 4.10 1.46 1.46 VG Area 51‒ Laika 10125
And… 373.00 374.50 1.50 9.29 9.29   Area 51‒ Laika 10125
FA‒20‒215 394.50 418.65 24.15 2.09 2.09 VG Area 51‒ Andromeda 10125
Including… 394.50 399.00 4.50 2.11 2.11   Area 51‒ Andromeda 10125
And… 416.65 418.65 2.00 19.92 19.92 VG Area 51‒ Andromeda 10125
FA‒20‒215 803.50 806.50 3.00 1.88 1.88   Contact Zone 10125
FA‒20‒215 869.50 872.50 3.00 3.94 3.94   Contact Zone 10125
FA‒20‒215 896.50 929.00 32.50 2.54 2.54 VG Tabasco 10125
Including… 896.50 906.00 9.50 3.87 3.87   Tabasco 10125
And… 919.65 925.50 5.85 3.70 3.70 VG Tabasco 10125
FA‒20‒215 933.70 939.30 5.60 2.33 2.33   Cayenne 10125
FA‒20‒215 947.30 950.70 3.40 3.87 3.87   Cayenne 10125
FA‒20‒217 465.00 467.00 2.00 9.94 9.94   Area 51‒ Titan 10125
FA‒20‒217 555.30 556.00 0.70 8.65 8.65   Area 51‒ Titan 10125
FA‒20‒217 608.50 611.00 2.50 2.00 2.00   Area 51‒ Laika 10125
FA‒20‒217 696.50 697.00 0.50 23.40 23.40   Area 51‒ Laika 10125
FA‒20‒217 707.35 710.95 3.60 1.93 1.93   Area 51‒ Laika 10125
FA‒20‒217 918.50 920.00 1.50 8.56 8.56   Area 51‒ Interstellar 10125
FA‒20‒217 956.00 957.35 1.35 4.09 4.09   Area 51‒ Interstellar 10125
 
 

 

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
  (m) (m) (m) (g/t) (g/t)      
FA‒20‒218 903.90 909.00 5.10 2.84 2.84   Area 51‒ MIB 9525
FA‒21‒221 562.00 564.50 2.50 2.29 2.29   Area 51‒ Laika 10125
FA‒21‒221 588.50 589.50 1.00 6.19 6.19   Area 51‒ Laika 10125
FA‒21‒221 604.00 612.00 8.00 2.96 2.96   Area 51‒ Andromeda 10125
FA‒21‒221 1033.50 1035.00 1.50 4.99 4.99   Contact Zone 10050
FA‒21‒221 1055.00 1059.00 4.00 3.34 3.34   Tabasco 10050
Including… 1057.00 1057.75 0.75 9.06 9.06   Tabasco 10050
FA‒21‒221 1095.30 1100.00 4.70 3.22 3.22   Cayenne 10050
Including… 1095.30 1098.20 2.90 4.76 4.76   Cayenne 10050
FA‒21‒221‒W2 1041.20 1043.25 2.05 13.87 13.87 VG Contact Zone 10050
FA‒21‒221‒W4 1067.95 1072.50 4.55 16.67 16.67 VG Tabasco 10125
FA‒21‒222 136.50 137.10 0.60 11.08 11.08 VG Area 51‒ Enterprise 9450
FA‒21‒222 261.50 263.00 1.50 3.77 3.77   Area 51‒ Enterprise 9450
FA‒21‒225 No Significant Mineralization(4) 9900
FA‒21‒226‒W1 656.15 656.75 0.60 284.00 50.00 VG Area 51‒ Andromeda 10050
FA‒21‒226‒W1 953.50 956.50 3.00 3.31 3.31   Area 51‒ Milky Way 9975
FA‒21‒226‒W1 1034.50 1063.90 29.40 2.29 2.29 VG Contact Zone 9975
Including… 1055.00 1063.90 8.90 5.85 5.85 VG Contact Zone 9975
FA‒21‒226‒W1 1084.15 1094.50 10.35 8.57 8.57 VG Tabasco 9975
Including… 1084.15 1086.80 2.65 29.94 29.94 VG Tabasco 9975
FA‒21‒228 124.50 130.20 5.70 34.99 5.95   Area 51‒ Orion 9825
Including… 124.50 125.05 0.55 351.00 50.00   Area 51‒ Orion 9825
 
 

 

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
  (m) (m) (m) (g/t) (g/t)      
FA‒21‒230 50.00 199.00 149.00 0.84 0.50 VG Area 51‒ Titan 9975
Including… 81.25 95.35 14.10 1.29 1.29   Area 51‒ Titan 9975
Which Include… 94.75 95.35 0.60 20.90 20.90   Area 51‒ Titan 9975
And… 126.45 127.00 0.55 141.00 50.00 VG Area 51‒ Titan 9975
And… 175.35 176.30 0.95 11.27 11.27 VG Area 51‒ Titan 9975
FA‒21‒230 679.00 680.00 1.00 5.44 5.44   Area 51‒ Enterprise 9975
FA‒21‒230‒W1 718.00 725.50 7.50 2.43 2.43 VG Area 51‒ Milky Way 9975
FA‒21‒230‒W1 735.35 745.00 9.65 2.63 2.63 VG Contact Zone 9975
Including… 744.00 745.00 1.00 13.26 13.26 VG Contact Zone 9975
FA‒21‒230‒W1 771.00 772.00 1.00 11.01 11.01 VG Tabasco 9975
FA‒21‒230‒W1 791.20 816.00 24.80 2.25 2.25 VG Tabasco 9975
Including… 811.60 816.00 4.40 8.15 8.15   Tabasco 9975
FA‒21‒230‒W1 911.80 920.60 8.80 3.61 3.61 VG Cayenne 9975
Including… 911.80 916.00 4.20 5.88 5.88 VG Cayenne 9975
FA‒21‒232 No Significant Mineralization(4) 9825
FA‒21‒233 No Significant Mineralization(4) 9825
FA‒21‒234 212.20 247.05 34.85 0.72 0.72   Area 51‒ Laika & Andromeda 9750
Including… 215.50 216.90 1.40 7.97 7.97   Area 51‒ Laika 9750
And… 242.00 243.85 1.85 3.65 3.65   Area 51‒ Andromeda 9750
FA‒21‒239 No Significant Mineralization(4) 9600
FA‒21‒240 185.50 200.50 15.00 1.00 1.00   Area 51‒ Andromeda & Interstellar 9675
Including… 185.50 189.00 3.50 3.95 3.95   Area 51‒ Andromeda 9675
 
 

 

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
  (m) (m) (m) (g/t) (g/t)      
Including… 185.50 189.00 3.50 3.95 3.95   Area 51‒ Andromeda 9675
FA‒21‒241 40.50 46.00 5.50 0.99 0.99   Area 51‒ Orion 10050
FA‒21‒241 277.00 324.50 47.50 3.46 2.00 VG Area 51‒ Andromeda 10050
Including… 295.35 297.85 2.50 52.38 24.78 VG Area 51‒ Andromeda 10050
FA‒21‒241 455.50 458.50 3.00 5.68 5.68   Area 51‒ Enterprise 10050
FA‒21‒241 483.00 490.50 7.50 1.02 1.02 VG Area 51‒ Enterprise 10050

 

(1) Table includes only assay results received since the latest press release dated April 29, 2021.
(2) Au cut at: 100 g/t Au for the Tabasco/Contact zones; 60 g/t Au for the Cayenne zones; 50 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 1 g/t Au
Results reported here contain previously announced intervals that were extended due to further in‒fill sampling

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 Luiz Amaral, M.Sc., P.Geo., Senior Project Geologist 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. The Company completed approximately 102,000 metres of drilling in 2020 and has begun a fully‒funded 2021 program of approximately 170,000 metres of drilling and 4,800 metres of underground exploration development (Phase 1 of a 10,000‒metre two‒year program). The Company intends to complete a maiden mineral resource on the Fenelon Gold System in the third quarter of 2021.

 

Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing room for growth, as well as future mine development flexibility. Wallbridge’s land holdings in Québec along the Detour‒Fenelon Gold Trend are over 900.0 km2, improving Wallbridge’s potential for further discoveries for over 90‒kilometre strike length in this under‒explored 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 May 6, 2021

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