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Wallbridge Reports Strong Intersections from its Fenelon Definition and Expansion Drilling

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Wallbridge Mining Company Limited (TSX:WMis pleased to announce that new assay results from the definition drilling program on the Fenelon Gold Property continue to confirm the high “metal factor” (grade multiplied by core length) continuity of the Tabasco-Cayenne shear system. The results reported today include a wide intersection of 3.48 g/t Au over 54.00 metres in FA-20-197 from the western part of the gold system, with higher grade sub-intervals of 8.91 g/t Au over 5.60 metres, 11.80 g/t Au over 2.25 metres, and 14.53 g/t Au over 2.90 metres.

 

Fenelon Gold System, Tabasco/Cayenne Zone Definition Drilling

 

Definition drilling to a 50-60 metre nominal spacing continues to outline the high metal factor core of the Tabasco-Cayenne shear system, which forms part of the larger shear corridor and has thus far been drilled over a strike length of 800 metres to a vertical depth of 1,000 metres. The high metal factor domain is measured in the tens of metres, as also highlighted by the recent intersection of 5.07 g/t Au over 100.60 metres in hole FA-20-181 (see Wallbridge Press Release dated November 19, 2020). As the holes approach the Tabasco-Cayenne zones, they also transect the Area 51 gold vein network.

 

“The robust assay results released today from the western part of the known gold system continue to demonstrate significant gold endowment and good continuities in Tabasco-Cayenne and Area 51, and provide us with crucial information on the relationship between these zones,” stated Attila Péntek, Vice President Exploration of Wallbridge. “In this western part of the gold system, the Tabasco and Cayenne Zones come closer to each other and upon entering the Jeremie Diorite, transitions from shear zone-hosted to Area 51 vein network-style mineralization.”

 

Highlight intersections from the definition drilling in the Tabasco-Cayenne Zones include:

 

  FA-20-197 3.48 g/t Au over 54.00 metres, including
      8.91 g/t Au over 5.60 metres,
      11.80 g/t Au over 2.25 metres, and
      14.53 g/t Au over 2.90 metres in the Tabasco Zone, and
    3.24 g/t Au over 11.75 metres in the Cayenne Zone (see Figs. 16 and 7);
 
  FA-20-158 3.07 g/t Au over 7.00 metres and
    10.38 g/t Au over 3.00 metres in a transition from Tabasco Zone to Area 51 (see Figs. 1 and 4);
 
  FA-20-177 11.15 g/t Au over 3.60 metres in the Cayenne Zone (see Fig. 5);
    This drill hole had to be terminated prematurely, only 5 metres past this intersection, due to mechanical issues and therefore did not entirely cross the Tabasco-Cayenne mineralized horizon.  
       
  FA-20-188 37.45 g/t Au over 2.60 metres in the Cayenne Zone (see Fig. 8);
       
  FA-20-193 2.59 g/t Au over 18.80 metres, including
      21.45 g/t Au over 1.95 metres in a transition from Area 51 to Tabasco Zone (see Figs. 1 and 4);

 

Area 51 Intersections from the Tabasco/Cayenne Definition Drill Holes

 

As the Tabasco/Cayenne definition drill holes approach the Tabasco/Cayenne shear system, they pass through the Area 51 vein network, which is characterized by wide mineralized zones consisting of a number of higher grade veins hosted mainly in the Jeremie Diorite and underlying sediments.

 

Highlight intersections from Area 51 from the holes reported today include:

 

  FA-20-197 8.17 g/t Au over 3.75 metres (see Fig. 7);
       
  FA-20-188 1.49 g/t Au over 72.50 metres, including
      67.20 g/t Au over 0.50 metre, and
      3.98 g/t Au over 7.50 metres, (see Fig. 8);
       
  FA-20-193 1.13 g/t Au over 77.35 metres, including
      13.62 g/t Au over 4.25 metres (see Fig. 4);

 

Fenelon Tabasco-Cayenne Expansion Drilling

 

Expansion drilling on Area 51 and the Tabasco-Cayenne zones using large (75 to 200 metres) step-outs at depth and toward the east has been continuing with 1 to 2 drill rigs.

 

Drill hole FA-20-202 intersected what is currently the easternmost known expression of the Tabasco zone with typical, sulfide-rich, silicified shear zones that assayed 2.77 g/t Au over 6.00 metres, including 4.58 g/t Au over 2.25 metres. This intersection represents an approximate 150 metre eastern step-out on known mineralization in the Tabasco zone and follow-up drilling in the vicinity of this intersection and at further depth is currently underway.

 

Drill holes FA-20-203 and -205 have intersected strong, visible gold-bearing zones in the eastern part of the known Tabasco-Cayenne shear system with assays currently pending (see Fig. 1).

 

“The gold system is wide open toward the east, and intersections such as the ones in FA-20-202 as well -203 and -205 with assays pending provide us confirmation of significant expansion potential also in this area,” stated Mr. Péntek.

 

2020-2021 Drilling Program Update

 

In 2020, Wallbridge completed approximately 102,000 metres of exploration and resource drilling at Fenelon, achieving its 2020 target despite the temporary suspension of activities in the spring due to the COVID pandemic. For the majority of the year, six drill rigs were operating and a seventh drill was mobilized to the project at the end of November.

 

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

 

Currently, drilling is ramping up and by the end of January the Company will have nine drill rigs turning. Six drill rigs are targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization) to approximately 1,000 metre vertical depth, carrying out a combination of 75-100-metre step-outs and tighter-spaced (50-60-metre) in-fill and definition drilling. Two drill rigs will be focusing on near-surface, open pit resource drilling in the western portion of Area 51. One drill rig will be devoted to regional, grassroots exploration at various projects on the Company’s 900 km2 Detour-Fenelon Gold Trend land package.

 

Assay results of nineteen drill holes of the 2020 exploration drill program are reported in the Tables and s 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 Long Section


https://www.globenewswire.com/NewsRoom/AttachmentNg/81c5d85d-69fe-4939-aa67-f3ce8140c96a

 

Figure 2. Fenelon Gold, Plan View


https://www.globenewswire.com/NewsRoom/AttachmentNg/4bcdabdc-6df5-48cd-8b20-392bb8368df1

 

Figure 3. Fenelon Gold, Cross Section 9750_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/ed51ec98-cfd5-4947-abc1-5e2694a01576

 

Figure 4. Fenelon Gold, Cross Section 9825_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/22a0f44c-bae0-4f22-ad78-3a364960366f

 

Figure 5. Fenelon Gold, Cross Section 9900_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/981d1a51-5ad1-4039-ba70-8086566c2afe

 

Figure 6. Fenelon Gold, Cross Section 9975_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/9ec0c8f1-c2ec-4dca-bfe6-18265a199f4f

 

Figure 7. Fenelon Gold, Cross Section 10050_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/d789eb31-9e72-4eb8-82eb-386bb359ebc2

 

Figure 8. Fenelon Gold, Cross Section 10125_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/229ebe90-7356-485a-931a-33a007022d35

 

Figure 9. Fenelon Gold, Cross Section 10200_E


https://www.globenewswire.com/NewsRoom/AttachmentNg/c7f23036-a00e-4aad-8084-3a8a8984576b

 

 

Table 1. Wallbridge Fenelon Gold Property 2020 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-20-119 493.20 513.25 20.05 1.15 1.15   Area 51- Andromeda 10050
Including… 493.20 494.05 0.85 9.54 9.54   Area 51- Andromeda 10050
And… 505.00 506.00 1.00 6.52 6.52   Area 51- Andromeda 10050
FA-20-129 636.10 639.05 2.95 3.23 3.23   Area 51- Andromeda 10200
FA-20-158 797.00 799.50 2.50 5.15 5.15 VG Area 51 – Enterprise 9900
Including… 798.50 799.50 1.00 8.35 8.35   Area 51 – Enterprise 9900
FA-20-158 1053.50 1086.00 32.50 1.78 1.78   Area 51- MIB & Transition to Tabasco 9825
Including… 1053.50 1060.50 7.00 3.07 3.07   Area 51- MIB & Transition to Tabasco 9825
And… 1079.00 1082.00 3.00 10.38 10.38   Area 51- MIB & Transition to Tabasco 9825
FA-20-166 No Significant Mineralization*
FA-20-166-W2 1147.50 1160.15 12.65 1.00 1.00 0.00 Tabasco 10050
FA-20-176 859.00 866.50 7.50 1.96 1.96   Area 51- Interstellar 10200
Including… 865.00 866.50 1.50 8.51 8.51   Area 51- Interstellar 10200
FA-20-176 1250.50 1252.70 2.20 2.60 2.60   Cayenne 10200
FA-20-177 908.00 980.00 72.00 1.04 1.04 VG Tabasco 9900
Including… 908.00 910.00 2.00 7.76 7.76   Tabasco 9900
And… 953.50 956.50 3.00 3.87 3.87 VG Tabasco 9900
FA-20-177 1044.95 1048.55 3.60 11.15 11.15 VG Cayenne 9900
Including… 1045.90 1046.40 0.50 69.00 69.00 VG Cayenne 9900
FA-20-186 822.30 827.15 4.85 1.32 1.32   Tabasco 9750
FA-20-188 176.00 178.50 2.50 5.23 5.23 VG Area 51- Orion and Titan 10125
Including… 178.00 178.50 0.50 23.20 23.20 VG Area 51- Orion and Titan 10125
FA-20-188 215.00 225.00 10.00 1.41 1.41 VG Area 51- Titan 10125
FA-20-188 332.70 405.20 72.50 1.49 1.49 VG Area 51- Laika 10125
Including… 332.70 333.20 0.50 67.20 67.20 VG Area 51- Laika 10125
And… 377.50 385.00 7.50 3.98 3.98   Area 51- Laika and Andromeda 10125
And… 394.20 394.70 0.50 31.00 31.00 VG Area 51- Laika and Andromeda 10125
And… 404.10 405.20 1.10 11.50 11.50 VG Area 51-Andromeda 10125
FA-20-188 584.00 587.00 3.00 2.24 2.24   Area 51- Interstellar 10125
FA-20-188 619.00 626.40 7.40 1.67 1.67   Area 51- Enterprise 10125
Including… 625.00 626.40 1.40 5.01 5.01   Area 51- Enterprise 10125
FA-20-188 706.00 718.15 12.15 1.18 1.18   Area 51- Enterprise and Contact Zone 10125
Including… 710.00 711.00 1.00 9.51 9.51   Area 51- Enterprise and Contact Zone 10125
FA-20-188 890.80 893.40 2.60 37.45 37.45 VG Cayenne 10125
FA-20-191 549.65 550.70 1.05 9.33 9.33   Tabasco 9750
FA-20-191 615.30 615.80 0.50 11.60 11.60   Cayenne 9750
FA-20-192 352.10 353.20 1.10 35.34 35.34   Area 51 – Andromeda 9900
FA-20-192 754.50 763.00 8.50 1.02 1.02   Area 51 – Enterprise 9975
Including… 755.35 756.00 0.65 8.70 8.70   Area 51 – Enterprise 9975
FA-20-192 911.75 916.40 4.65 2.33 2.33   Area 51 – MIB 9975
FA-20-192 994.00 998.00 4.00 1.75 1.75   Tabasco 9975
FA-20-193 492.00 493.50 1.50 3.98 3.98   Area 51 – Interstellar 9825
FA-20-193 743.45 820.80 77.35 1.13 1.13 VG Area 51 – MIB 9825
Including… 760.95 765.20 4.25 13.62 13.62 VG Area 51 – MIB 9825
Which Includes… 762.65 763.25 0.60 79.30 79.30 VG Area 51 – MIB 9825
FA-20-193 943.40 962.20 18.80 2.59 2.59 VG Tabasco 9825
Including… 960.25 962.20 1.95 21.45 21.45   Tabasco 9825
FA-20-197 445.75 449.50 3.75 8.17 8.17 VG Area 51 – Laika 10050
FA-20-197 515.50 521.00 5.50 1.26 1.26   Area 51 – Andromeda 10050
FA-20-197 940.00 994.00 54.00 3.48 3.48 VG Tabasco 10050
Including… 967.90 973.50 5.60 8.91 8.91 VG Tabasco 10050
And… 982.75 985.00 2.25 11.80 11.80   Tabasco 10050
And… 991.10 994.00 2.90 14.53 14.53   Tabasco 10050
FA-20-197 1004.05 1015.80 11.75 3.24 3.24   Cayenne 9975
Including… 1005.00 1006.00 1.00 25.00 25.00   Cayenne 9975
FA-20-199 No Significant Mineralization*
FA-20-202 43.00 65.50 22.50 1.83 1.83 VG Area 51 – Hubble 10500
Including… 43.00 43.85 0.85 37.45 37.45 VG Area 51 – Hubble 10500
FA-20-202 367.00 378.40 11.40 1.34 1.34   Area 51 – Orion 10500
Including… 376.85 377.60 0.75 8.64 8.64   Area 51 – Orion 10500
FA-20-202 683.50 689.50 6.00 2.77 2.77   Tabasco 10500
Including… 685.35 687.60 2.25 4.58 4.58   Tabasco 10500
FA-20-204 85.00 89.00 4.00 1.84 1.84   Area 51 – MIB 9675
FA-20-204 96.00 99.00 3.00 1.51 1.51   Area 51 – MIB 9675
FA-20-204 216.00 220.50 4.50 1.80 1.80   Area 51 – MIB 9675
FA-20-204 322.00 323.00 1.00 5.11 5.11   Area 51 – MIB 9675
FA-20-204 467.60 474.00 6.40 1.26 1.26 VG Transition from Area 51 to Tabasco 9675
Including… 473.40 474.00 0.60 11.32 11.32 VG Transition from Area 51 to Tabasco 9675
FA-20-206 No Significant Mineralization*
FA-20-206-W1 442.00 443.50 1.50 4.26 4.26   Area 51 – Titan 10500
FA-20-206-W1 467.50 469.00 1.50 4.74 4.74   Area 51 – Titan 10500
FA-20-206-W1 577.00 584.50 7.50 1.30 1.30   Area 51- Laika 10500
FA-20-206-W1 798.00 799.00 1.00 5.67 5.67   Tabasco 10500
FA-20-208 No Significant Mineralization*

 

*Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au.
(1) Table includes only assay results received since the latest press release dated Dec 10, 2020.
(2) Au cut at 140 g/t.
(3) Intervals containing visible gold (“VG”).

 

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 either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards, blanks and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada Inc. or ALS Canada Ltd. laboratories. Samples are crushed to 90% or 95% less than 2mm. A 1kg riffle split is pulverized to >95% passing 106 microns or 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, 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 Christopher Kelly, P.Geo., B.Sc., Senior 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 170,000-metre drill program and 10,000-metre, two-year underground development program in 2021. The Company intends to complete a maiden 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 is 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 shareholder in, Lonmin Canada Inc., a privately-held company with a large portfolio of nickel, copper, and platinum-group metals (PGM) projects in Ontario’s Sudbury Basin.

 

 

 

Posted January 20, 2021

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