Wallbridge Mining Company Limited (TSX:WM) (FWB: WC7) is pleased to announce that its surface and underground exploration drilling continues to intersect significant high-grade, visible gold-bearing zones within broad mineralized intervals at its 100%-owned Fenelon Gold Property. The results released here significantly advance the 2019 exploration goal of expanding the known footprint and demonstrating the large size potential of the Fenelon Gold System (see Wallbridge Press Release dated June 24, 2019).
|19-0925-005A:||3.93 g/t gold over 20.72 metres, including 55.95 g/t gold over 1.24 metres in the Tabasco corridor.|
|FA-19-054:||3.61 g/t gold over 18.96 metres, including 9.31 g/t gold over 2.83 metres and 6.19 g/t gold over 2.59 metres in the Tabasco corridor. This intersection is hosted in the sedimentary package between the Jeremie Pluton and the Main Gabbro, where such wide mineralized shear zones have not been encountered before. Further sampling is now underway around this intersection to fully define the extents of this new mineralized environment;|
|Further up-hole, broad stockwork mineralization was intersected in the Jeremie Pluton (Area 51 corridor), grading 0.31 g/t gold over 114.18 metres.|
|FA-19-059:||3.28 g/t gold over 17.60 metres (including 7.74 g/t gold over 1.85 metres and 72.35 g/t gold over 0.43 metres) included within a broad stockwork mineralization grading 1.02 g/t gold over 78.32 metres within the Area 51 corridor.|
|Further assay results (including one interval with visible gold) are pending within Area 51, therefore the long interval reported above might be updated in the future.|
|7.32 g/t gold over 7.63 metres, including 41.82 g/t gold over 0.60 metres in the Tabasco corridor;|
|Further assay results are pending for a visible gold-bearing intersection further down hole hosted in the Main Gabbro (see Fig. 4).|
“The widely-spaced exploration drilling has been very successful in discovering high-grade shear zones, like the ones grading 72.35 g/t gold over 0.43 metres and 55.95 g/t gold over 1.24 metres in this release, surrounded by extensive, low grade mineralization. Together they form tens of metres of wide mineralized zones grading in the range of 3.0 to 4.0 g/t gold which in the future could be mined using underground bulk mining methods,” stated Marz Kord, President & CEO of Wallbridge. “Our overall approach to drilling many of these exploration holes has been very efficient, often resulting in multiple ore-grade intersections, such as in FA-19-059.”
“An unexpected surprise was the intersection of 3.61 g/t gold over 18.96 metres in hole FA-19-054 within a mineralized shear zone cutting through sediments at a vertical depth of 450 metres. Such significant mineralization has previously not been observed to be hosted by the sedimentary package at Fenelon, highlighting the fact that we now have multiple mineralization styles and host lithologies within the rapidly growing footprint of the Fenelon Gold System,” stated Attila Péntek, Vice President Exploration of Wallbridge. “Our drilling has now identified a new, ENE-WSW structural trend, as shown in Figure 1, which is an important structural control on our high-grade mineralization.
Assay results are reported below for three surface drill holes (FA-19-054, FA-19-055 and FA-19-059) and one underground drill hole (19-0925-005A) from the 2019 exploration drill program. Since the last press release (see Wallbridge Press Release dated May 21, 2019), a total of over 13,000 metres have been drilled as part of the exploration drill program and assay results are pending for 15 surface drill holes and four underground holes, including eight with visible gold. Three rigs (two surface, one underground) are currently active on exploration drilling, doing large-spaced step-outs to define the footprint of the Fenelon Gold System. Further approximately 7,500 metres have been drilled as part of the 2019 resource drill program and these results will be announced in separate press releases from the exploration results.
|Table 1. Wallbridge Fenelon Gold Property 2018/2019 Drill Assay Highlights (1)
|Drill Hole||From||To||From||To||Length||True Width||Au||Au
|FA-19-059||Which includes…||368.55||370.40||1.85||NA||7.74||7.74||VG||Area 51|
|19-0925-005A||Which includes…||187.15||188.35||1.20||NA||3.03||3.03||Area 51|
|(1)||Table includes only highlight assay results received since the latest press release.|
|(2)||Au capped at 140 g/t following InnovExplo’s 2016 Mineral Resource Estimate.|
|(3)||Intervals containing visible gold (“VG”).|
|(4)||Currently not enough information available to estimate true width.|
|Table 2. Wallbridge Fenelon Gold Property 2018/2019 drill hole information (1)
|Drill Hole ID||Local
|19-0925-005A||10397||10902||5135||552||190||-55||VG||Final Assays Received|
|19-0925-006||10397||10902||5135||420||180||-41||Further Assays pending|
|19-0925-007||10397||10902||5135||495||180||-5||VG||Further Assays pending|
|FA-18-040||10459||11054||5261||803||246||-48||VG||Additional Sampling Underway|
|FA-18-051||10432||11040||5260||670||220||-51||VG||Final Assays Received|
|FA-19-052||10121||10605||5258||833||35||-62||VG||Final Assays Received|
|FA-19-053||10432||11043||5260||966.4||262||-48||VG||Further assays pending|
|FA-19-054||10195||10553||5258||777||360||-55||VG||Further assays pending|
|FA-19-055||10732||10561||5261||415||260||-45||CP||Final Assays Received|
|FA-19-056||10195||10629||5258||666||360||-55||VG||Further assays pending|
|FA-19-058||10195||10553||5258||303||190||-55||Further assays pending|
|FA-19-059||10269||10578||5258||774||360||-61||VG||Further assays pending|
|(1)||Table includes only drill holes for which assay results are announced in this press release or are pending. For earlier holes please refer to tables in previous press releases.|
|(2)||Drill holes containing visible gold (“VG”) or chalcopyrite-bearing mineralized shear zone (“CP”).|
Fenelon is located in northwestern Quebec proximal to the Sunday Lake Deformation Zone which hosts the Detour Gold Mine in Ontario, and Balmoral Resources’ gold deposits at Martinière. Secondary splays of the SLDZ transect the Property over two to four-kilometre strike lengths and have controlled the emplacement of a significant gold system along the Jeremie Pluton and within a mafic-ultramafic sill referred to as the Main Gabbro.
Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate and a positive pre-feasibility study on the resource that existed in the Main Gabbro prior to any drilling by the Company. Wallbridge has undertaken successful surface exploration drilling campaigns in 2017, 2018 and 2019, and has recently completed an underground 35,000-tonne bulk sample at Fenelon. Drilling to date has significantly extended existing zones, located additional parallel zones, and discovered a new gold system associated to the Jeremie Pluton referred to as Area 51.
Drill core samples from the ongoing drill program at Fenelon were cut and bagged on site and transported to SGS Canada Inc. Samples, along with standards, blanks, and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns. 50g samples are analyzed by fire assay and AAS. 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 Persons responsible for the technical content of this press release are Marz Kord, P. Eng., M. Sc., MBA, President & CEO and Attila Péntek, P.Geo., Ph.D., Vice President Exploration for Wallbridge Mining Company Limited.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue as well as organic growth through exploration and scalability.
Wallbridge is currently developing its 100%-owned high-grade Fenelon Gold property in Quebec with ongoing exploration and a recently-completed 35,000-tonne bulk sample. Wallbridge is also pursuing additional advanced-stage projects which would add to the Company’s near-term project pipeline. Wallbridge is also continuing partner-funded exploration on its large portfolio of nickel, copper, and PGM projects in Sudbury, Ontario, with a focus on its high-grade Parkin project.
Wallbridge also has exposure to exploration for copper and gold in Jamaica and British Columbia through its 11.3% ownership of Carube Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited, a Wallbridge spin-out of its BC assets).
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