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Wallbridge Reports Significant New Extensions of Known Mineralization at Fenelon

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Wallbridge Reports Significant New Extensions of Known Mineralization at Fenelon

 

 

 

 

 

Wallbridge Mining Company Limited (TSX: WM) (OTCQX:WLBMF) is pleased to report positive assay results from ongoing resource drilling at the Fenelon Gold Project, which further expand the lateral footprint of the deposit beyond the 2021 maiden Mineral Resource Estimate. Fenelon is located 80 kilometres east of Agnico Eagle’s Detour Lake gold mine at the centre of Wallbridge’s strategic land package, which covers roughly 910 square kilometres of the most prospective ground on the Detour-Fenelon Gold Trend.

 

“Today’s results add new gold mineralization along the eastern and western margins of the 2021 MRE. We are particularly pleased with the gold endowment in the eastern part of the deposit, where the host diorite is pervasively mineralized and we have encountered high-quality gold zones that remain entirely open toward the southeast,” said Marz Kord, Wallbridge’s President and CEO. “Overall, the drilling at Fenelon this year has continued to prove extensions of new gold zones in multiple directions, which will help strengthen the Project by delivering a more robust orebody with the flexibility to develop an optimal mine design. Our geologists and technical staff envision the next mineral resource estimate could point to a primarily bulk-mineable underground resource at Fenelon with possible smaller open pits on shallow mineralized zones such as at Gabbro and Area 51.”

 

The western and eastern extensions of mineralization are exemplified by drill holes FA-22-401 (3.01 g/t Au over 17.95 metres) in the West and FA-22-420A (25.14 g/t Au over 3.27 metres) in the East, both of which intersected gold mineralization outside the 2021 MRE at approximately 795 to 865 metres below the surface. Furthermore, the areas directly surrounding these intercepts remain untested with further room to expand the mineralization (see Figure 3).

 

Highlights of the drilling results released today include the following:

 

Western Expansion

 

FA-21-295 2.83 g/t Au over 8.30 metres, including
21.68 g/t Au over 1.00 metres within Area 51, outside of the 2021 MRE
block model.
FA-22-401 3.01 g/t Au over 17.95 metres, including
8.42 g/t Au over 4.65 metres within Area 51, outside of the 2021 MRE
block model.
3.54 g/t Au over 7.60 metres, including
5.85 g/t Au over 2.40 metres within Cayenne, adjacent and within the
2021 MRE block model.

 

Eastern Expansion

 

FA-22-394-W1 10.96 g/t Au over 2.20 metres, including
18.76 g/t Au over 1.20 metres within Area 51, adjacent to and within the
2021 MRE block model. This intersection is in addition to assay results
released previously in Wallbridge press release dated May 30, 2022.
FA-22-420A 25.14 g/t Au over 3.27 metres, including
140.00 g/t Au over 0.50 metres within Area 51, outside of the 2021 MRE
block model
16.44 g/t Au over 2.10 metres within the Contact Zone, outside of the
2021 MRE block model
FA-22-425 56.05 g/t Au over 0.60 metres within the Contact Zone, outside and
adjacent to the 2021 MRE block model.
FA-22-426 73.98 g/t Au over 0.50 metres within the Tabasco Zone, outside and
adjacent to the 2021 MRE block model.

 

The assay results from 22 drill holes are reported in the table and figures below (19 DH w/ complete assays, 3 DH with partial assays). All figures and the table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at www.wallbridgemining.com/s/fenelon.asp.

 

Figure 1. Fenelon Gold, Plan View

Figure 2. Fenelon Gold, Cross-Section 10600_E

Figure 3. Fenelon Gold, Plan View West (B) and East (C)- 785m & 815m 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)
21-5130-005 263.15 278.90 15.75 1.21 1.21 VG Contact Zone
Including… 266.85 267.50 0.65 19.20 19.20 VG Contact Zone
21-5130-005 300.95 306.25 5.30 0.96 0.96 Area 51
FA-20-171-W2 769.50 772.00 2.50 3.79 3.79 Area 51
FA-20-171-W2 792.90 794.00 1.10 5.02 5.02 Area 51
FA-20-171-W2 905.50 906.20 0.70 7.13 7.13 Area 51
FA-20-171-W2 914.50 915.80 1.30 6.74 6.74 Area 51
FA-20-171-W2 1053.50 1055.00 1.50 3.49 3.49 Area 51
FA-20-171-W2 1100.00 1103.00 3.00 5.46 5.46 Area 51
FA-21-295 663.40 671.70 8.30 2.83 2.83 Area 51
Including… 670.70 671.70 1.00 21.68 21.68 Area 51
FA-21-295 716.00 716.50 0.50 16.65 16.65 Area 51
FA-21-295 840.20 843.50 3.30 2.50 2.50 Area 51
Including… 840.20 841.00 0.80 7.59 7.59 Area 51
FA-21-295 1022.50 1024.60 2.10 4.26 4.26 Cayenne
FA-21-336 No Significant Mineralization (4)
FA-21-343 No Significant Mineralization (4)
FA-21-344(5) 127.35 128.80 1.45 0.81 0.81 New Zone
FA-21-353 No Significant Mineralization (4)
FA-22-394-W1 939.00 941.20 2.20 10.96 10.96 Area 51
Including… 940.00 941.20 1.20 18.76 18.76 Area 51
FA-22-401 305.50 307.00 1.50 5.66 5.66 VG Area 51
FA-22-401 626.65 644.60 17.95 3.01 3.01 VG Area 51
Including… 626.65 631.30 4.65 8.42 8.42 VG Area 51
And… 643.00 644.60 1.60 8.70 8.70 Area 51
FA-22-401 785.20 788.10 2.90 2.41 2.41 Area 51
FA-22-401 1026.40 1034.00 7.60 3.54 3.54 Cayenne
Including… 1031.60 1034.00 2.40 5.85 5.85 Cayenne
FA-22-406 No Significant Mineralization (4)
FA-22-412 490.00 490.60 0.60 15.79 15.79 Area 51
FA-22-415 543.10 551.50 8.40 0.69 0.69 Tabasco
FA-22-418 169.20 187.00 17.80 0.70 0.70 Tabasco
Including… 186.10 187.00 0.90 6.97 6.97 Tabasco
Table 1. (cont.) 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)    
FA-22-419 242.00 253.70 11.70 1.23 1.23 Area 51
Including… 242.00 243.20 1.20 7.06 7.06 Area 51
FA-22-419 1084.50 1086.00 1.50 5.50 5.50 Area 51
FA-22-420A 1030.50 1033.77 3.27 25.14 15.20 VG Area 51
Including… 1030.50 1031.00 0.50 140.00 75.00 VG Area 51
FA-22-420A 1070.50 1071.00 0.50 13.45 13.45 Contact Zone
FA-22-420A 1086.00 1088.10 2.10 16.44 16.44 Contact Zone
FA-22-423 249.50 268.35 18.85 0.51 0.51 Contact Zone
FA-22-423 395.50 398.50 3.00 3.48 3.48 Tabasco
FA-22-425 125.40 126.00 0.60 56.05 56.05 VG Contact Zone
FA-22-425 183.45 184.80 1.35 4.41 4.41 Area 51
FA-22-425 210.50 231.00 20.50 0.36 0.36 Area 51
FA-22-426 98.50 99.00 0.50 73.98 73.98 VG Tabasco
FA-22-427 246.00 250.00 4.00 1.63 1.63 Tabasco
FA-22-430 No Significant Mineralization (4)
FA-22-432 No Significant Mineralization (4)
FA-22-435 86.00 88.50 2.50 3.43 3.43 VG Area 51
Including… 88.00 88.50 0.50 14.75 14.75 VG Area 51
(1)   Table includes only assay results received since the latest press release dated June 07th, 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.
      (5)   Metal factor of at least 1 g/t*m and minimum weighted average composite grade of 0.3 g/t Au for exploration drillholes.
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 discovery, acquisition, development, and production of gold from a portfolio of advanced exploration stage assets located in established mining jurisdictions within Canada. Wallbridge’s flagship project, Fenelon, is located on the highly prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec. A mineral resource estimate completed in 2021 validated the multi-million-ounce gold potential of Fenelon as well as Wallbridge’s nearby Martiniere Property, incorporating a combined 2.67 million ounces of indicated resources and 1.72 million ounces of inferred resources. Fenelon and Martiniere, located within a 910-square-kilometre exploration land package controlled by Wallbridge, have the potential to be developed into mines, and are close to existing power and transportation infrastructure. Wallbridge also has interests in several copper, nickel and platinum group metal properties, including a 17.8% interest in Lonmin Canada Inc.

 

Posted July 26, 2022

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