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Wallbridge Mining Company Limited (TSX:WM) is 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. 1, 6 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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