Wallbridge Mining Company Limited (TSX:WM) (FWB: WC7) is pleased to announce that hole FA-19-99 of the ongoing 75,000-metre 2019 drill program on its 100%-owned Fenelon Gold Property has intersected visible gold and abundant sulfide mineralization over a 16-metre core length. This extends the Lower Tabasco Zone a further 230 m down-dip to a vertical depth of 850 metres. In addition, complete assay results have now been received for drill hole FA-19-086, surrounding the previously reported 27.00 g/t Au over 38.39 metres (see Wallbridge Press Release dated October 21, 2019). The complete intersection is now reported as 22.73 g/t Au (18.87 g/t Au cut) over 48.01 metres.
High grade assays were also received from drill holes testing the newly discovered Orion Corridor located over 400 metres to the southeast, further demonstrating the exceptional gold endowment in this gold system over the entire one kilometre strike length explored so far.
“It is quite remarkable that our current initial wide-spaced drilling with holes spaced 75 metres to more than 200 metres apart continues to consistently intersect mineralization, given the typical size of ore shoots in typical Archean gold systems. The results to date show the exceptional quality of Fenelon and increases our continued understanding of the deposit,” stated Marz Kord, President & CEO of Wallbridge. “The recent drilling, particularly our 230-metre undercut in the Lower Tabasco zone, suggests that at depth this zone appears to follow the contact of Jeremie Pluton in a sub-vertical manner, suggesting that further deep drilling in this area is warranted.”
Lower Tabasco Zone Highlights
|FA-19-099:||A 16-metre core length intersection of the Tabasco zone with visible gold and abundant sulfide mineralization. This interval is an approximate 230 metre undercut to the nearest intersection of the Tabasco zone in hole FA-19-092 and extends the known vertical extent of the gold-bearing system at Fenelon by 100 metres, to a vertical depth of 850 metres (see Figs. 2, 3 and 5). Assay results are pending.|
|FA-19-086:||Further gold-bearing assay results have been received surrounding the interval of 27.00 g/t Au over 38.39 metres announced in Wallbridge Press Release dated October 21, 2019. The intersection, which is interpreted to be the confluence of the Tabasco zone with one of the Andromeda corridor zones, is now updated as follows (see Figs. 2, 3 and 4):|
|22.73 g/t Au (18.87 g/t Au cut) over 48.01 metres, including|
|34.14 g/t Au (33.62 g/t Au cut) over 9.81 metres, and|
|32.22 g/t Au (24.33 g/t Au cut) over 22.87 metres|
|Note: Drill hole composites reported as “cut” contain higher grade samples that have been cut to 140 g/t Au. There is currently not enough information available to estimate true widths.|
“We are very pleased with the visual results of drill hole FA-19-099, our first attempt at testing the Fenelon gold system down to 1,000 metres vertical depth,” stated Attila Péntek, Vice President Exploration of Wallbridge. “In addition to extending the Lower Tabasco zone by an astounding 230 metres down-dip from the nearest intersection in FA-19-092, we also observed strong mineralization in the Orion and Andromeda corridors of Area 51 and in the Cayenne corridor north of the Tabasco zone, demonstrating the excellent potential to keep extending the deposit to greater depth. In addition, the first high-grade intersections from the Orion corridor, reported today, are encouraging us to continue testing this newly discovered portion of Area 51 in 2020.”
A summary of the results for the Area 51 Andromeda Corridor, the Area 51 Orion Corridor, and the Upper Tabasco Zone is presented below.
Area 51 – Andromeda Corridor
|FA-19-075:||A broad envelope of vein network gold mineralization within and along the Jeremie Pluton starting near surface and grading 0.50 g/t Au over 215.23 metres (see Figs. 1 and 2), which includes:|
|1.20 g/t Au over 44.00 metres, including 41.39 g/t Au over 0.34 metres|
|3.98 g/t Au over 4.11 metres, including 14.86 g/t Au over 0.61 metres|
|FA-19-078:||22.76 g/t Au over 0.93 metres, and|
|11.33 g/t Au over 1.00 metres. These intersections are in addition to assay results reported from this drill hole in Wallbridge Press Release dated November 14, 2019.|
|FA-19-086:||10.62 g/t Au over 2.98 metres, and|
|7.98 g/t Au over 2.05 metres (see Figs. 2 and 4):|
|FA-19-099:||Several mineralized zones, one with visible gold, over several hundred metres of core length. Assay results are pending (see Fig. 5).|
Area 51 – Orion Corridor
|FA-18-044EXT:||3.79 g/t Au over 10.25 metres, including 43.19 g/t Au over 0.75 metres. Further assay results are pending (see Figs. 1, 2 and 7).|
|19-0970-006:||121.00 g/t Au over 0.51 metres, and|
|31.37 g/t Au over 0.50 metres. Further assay results are pending (see Figs. 1, 2 and 6).|
Upper Tabasco Zone
|FA-19-068:||1.69 g/t Au over 19.50 metres, including 5.61 g/t Au over 2.54 metres (see Figs. 3 and 6).|
Of the five drill rigs currently active on the Property, three are focusing on exploration drilling from surface, doing large-spaced step-outs to define the footprint of the Fenelon gold system, and two underground drill rigs are doing more closely spaced drilling of the Main Gabbro zones, Tabasco and Area 51 near the existing mine workings. A total of 70,000 metres have been drilled to date in 2019 and the drill program is on track to complete approximately 75,000 metres by the end of the year.
Assay results for seven surface holes and three underground holes (for a total of over 5,000 metres) of the 2019 exploration drill program are reported in Table 1 and the Figures. Assays, including further results of holes FA-19-075, FA-19-078, FA-18-044EXT and 19-0970-006, are pending for 26 surface drill holes and 78 underground holes, for a total of approximately 33,000 metres.
All figures and a table with drill hole information of recently completed holes can be found on the Company website.
|Table 1. Wallbridge Fenelon Gold Property 2019 Drill Assay Highlights (1)|
|Drill Hole||From||To||From||To||Length||True Width||Au||Au Cut(2)||VG(3)||Zone/Corridor|
|19-0925-018||No assays greater than 1 g/t Au|
|FA-19-075||Which includes…||207.54||251.54||44.00||NA||1.20||Area 51/Andromeda|
|FA-19-086||595.67||643.68||48.01||NA||22.73||18.87||VG||Lower Tabasco (5)|
|FA-19-086||Including…||596.77||606.58||9.81||NA||34.14||33.62||VG||Lower Tabasco (6)|
|FA-19-086||And…||616.37||639.24||22.87||NA||32.22||24.33||VG||Lower Tabasco (6)|
|FA-19-086||Which includes…||617.51||620.04||2.53||NA||201.73||130.47||VG||Lower Tabasco (7)|
|FA-19-086||And…||637.44||637.94||0.50||NA||57.17||57.17||VG||Lower Tabasco (7)|
|(1)||Table includes only highlight assay results received since the latest press release.|
|(2)||Au cut 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.|
|(5)||Interval includes 27.00 g/t Au over 38.39 metres previously reported in Wallbridge Press Release dated October 21, 2019|
|(6)||Interval changed from that previously reported in Wallbridge Press Release dated October 21, 2019|
|(7)||Interval previously reported in Wallbridge Press Release dated October 21, 2019|
The Fenelon Gold Property is located proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern Quebec. This major east-west structure in the northern Abitibi greenstone belt hosts the Detour Lake mine, and is very similar to other breaks controlling world-class gold camps in the southern Abitibi, yet it remains underexplored due to thick overburden cover.
At Fenelon, secondary splays of the Sunday Lake Deformation Zone have controlled the emplacement of a significant gold system along the Jeremie Pluton. Historically, exploration has focused on high-grade shear zones hosted in the Main Gabbro, and this is where Wallbridge completed a bulk sample of 33,500 tonnes grading 18.49 g/t gold.
In late 2018, exploration drilling discovered a new geologic setting with extensive, vein network gold mineralization within the pluton, naming it Area 51. The ongoing 75,000 m drill program is proving the connectivity of Area 51 through the sediment-hosted Tabasco and Cayenne zones to the Main Gabbro and is continuing to expand the footprint and depth extent of the Fenelon gold system.
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 of Wallbridge.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will support sustainable 100,000 ounce-plus annual gold production as well as organic growth through exploration and scalability.
The Company is currently developing its 100%-owned Fenelon Gold Property, which is located proximal to the Sunday Lake Deformation Zone, an emerging gold belt in northwestern Quebec with ongoing 75,000 m exploration drill program in 2019 and a recently-completed 33,500-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 the operator of, and a 20% shareholder in, Loncan Canada Inc., a privately-held company with a large portfolio of nickel, copper, and PGM projects in Ontario’s Sudbury Basin.
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