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). 

Highlights:

• Since the last press release (see Wallbridge Press Release dated May 21, 2019), assay results of four exploration drill holes were received with highlights as follows:

• FA-19-065 intersected stockwork, Area 51-style gold mineralization within and adjacent to the Jeremie Pluton over almost the entire 960 metre core length with five occurrences of visible gold noted. Assay results are pending.
• FA-19-067 intersected stockwork gold mineralization within the Jeremie Pluton over approximately 400 metres core length with seven occurrences of visible gold observed. Drilling of this hole is still underway and assay results are pending.
• FA-19-052: high-grade intersection recalculated to 6.71 g/t gold over 27.35 metres (from 15.93 g/t gold over 11.22 metres) within the previously reported intersection of 2.81 g/t gold over 98.91 metres in the Area 51 corridor.
• With very little drilling, Wallbridge has confirmed the existence of significant gold mineralization in the newly-discovered Area 51 corridor over 900 metres of a potential 2.5-kilometre strike length. The 100-200 metre step-outs provide an understanding of the geology, the continuity of the mineralized system and an indication of the structural controls. Tighter spaced drilling will be conducted in subsequent phases of the exploration program to develop the mineral resources.
• Even though the gold mineralization in Area 51 exhibits important differences (i.e. host rock, mineralogy, mineralization style, structural control) compared to the previously known shear zones in the Main Gabbro area, drilling indicates that these zones and host environments are connected and all form part of the large Fenelon Gold System.

“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.

A summary of the new drill hole results from the ongoing 2019 exploration drill program are reported in Tables 1 and 2 and also shown on the Figures below as well as on the Company website.

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).