Wallbridge Updates Progress on Maiden Mineral Resource Estimate at Fenelon
TORONTO, Oct. 06, 2021 - Wallbridge Mining Company Ltd. (TSX:WM) ("Wallbridge" or the "Company") is pleased to announce that its maiden mineral resource estimate ("MMRE") for the Fenelon Gold Property ("Fenelon" or the "Property") is progressing well and is scheduled for release by the end of October along with an updated mineral resource estimate ("MRE") for the Martiniere Gold Property ("Martiniere"). The assay results announced today include the final assays to be included in the MMRE. Drilling is continuing with up to 11 drill rigs; approximately 45-50,000 additional metres are planned for the remainder of the year. Future assay results will be included in upcoming resource updates.
Maiden Mineral Resource Estimate ("MMRE")
The MMRE will include assays from over 300,000 metres of drilling from within an approximately 1.0 by 1.5-kilometre area in the central part of the known mineralized footprint at Fenelon, from surface to a maximum depth of approximately 1,000 metres.
The MMRE will encompass:
- near surface potentially open pittable mineralization in Area 51;
- near surface high-grade mineralization adjacent to the existing mine workings from the Gabbro Zones;
- wide zones of potentially bulk mineable underground mineralization from the Tabasco, Cayenne, Contact and Area 51 Zones;
"Our resource estimation at Fenelon is progressing well, and the majority of the results announced today are still part of the maiden resource database," stated Marz Kord, President & CEO of Wallbridge. "The MMRE is an important milestone for the Company, less than 3 years after the initial discovery of the Area 51 and Tabasco zones, and represents the first major steppingstone in developing one of Quebec's new large gold deposits. The deposit remains open in multiple directions laterally and at depth and we see a lot of potential to grow this deposit to ultimately become a significant gold producer. Over the remainder of the year, we will ramp- up our exploration drilling efforts to expand the known mineralized footprint at Fenelon in order to better understand the ultimate size potential of this deposit and the surrounding property."
Tabasco-Cayenne-Contact Zones, Definition Drill Results
Nominal 75 metre-spaced definition drilling of the Tabasco-Cayenne-Contact Zones over a strike length of approximately 800 metres and vertical depths between 300 and 1,000 metres in support of the MMRE was the primary focus of the Company's drilling campaign between January and August of this year.
Highlight intersections (> 30 metal factor; metal factor = Au grade multiplied by thickness) since our last news release from this program, include:
| FA-21-283B | 5.97 g/t Au over 8.70 metres in the Tabasco Zone (see Figs. 1, 2 and 7); | ||
| FA-19-096-W1 | 2.67 g/t Au over 21.85 metres, including | ||
| 4.63 g/t Au over 8.75 metres in the Tabasco Zone (see Figs. 1, 2 and 6); | |||
| FA-19-096-W2 | 6.97 g/t Au over 4.60 metres, including | ||
| 48.54 g/t Au over 0.50 metres in the Cayenne Zone (see Figs. 1, 2 and 6); | |||
| FA-20-159-W2 | 4.38 g/t Au over 7.75 metres, including | ||
| 9.01 g/t Au over 3.05 metres in the Cayenne Zone (see Figs. 1, 2 and 7); | |||
| FA-20-205-W1 | 3.12 g/t Au over 12.45 metres, and | ||
| 1.99 g/t Au over 16.30 metres in the Tabasco Zone (see Figs. 1, 2 and 8); | |||
| FA-21-261 | 3.56 g/t Au over 9.45 metres in the Tabasco Zone (see Figs. 1, 2 and 7); | ||
| FA-21-261-W2 | 3.03 g/t Au over 11.50 metres, including | ||
| 45.61 g/t Au over 0.50 metres in the Cayenne Zone (see Figs. 1, 2 and 6); | |||
| FA-21-266-W1 | 2.21 g/t Au over 25.10 metres, including | ||
| 3.59 g/t Au over 11.75 metres in the Contact Zone (see Figs. 1 and 2); | |||
| FA-21-293A | 3.72 g/t Au over 9.00 metres, including | ||
| 5.56 g/t Au over 5.60 metres in the Tabasco Zone (see Figs. 1, 2 and 6) | |||
Area 51, Definition Drill Results
As the definition drill holes approach the Tabasco-Cayenne-Contact Zones, they also transect the Area 51 gold vein network, providing important information from all of these zones.
Highlight intersections (> 30 metal factor; metal factor = Au grade multiplied by thickness) of Area 51 zones reported today include:
| FA-21-282 | 3.80 g/t Au over 10.70 metres, including | ||
| 11.67 g/t Au over 2.55 metres (see Figs. 1 and 3); | |||
| FA-21-258-W1 | 0.83 g/t Au over 36.10 metres, including | ||
| 14.50 g/t Au over 0.50 metres, and | |||
| 3.71 g/t Au over 2.95 metres, and | |||
| 6.91 g/t Au over 5.50 metres (see Fig. 1); | |||
| FA-21-250-W4 | 2.10 g/t Au over 84.70 metres, including | ||
| 5.15 g/t Au over 14.30 metres, which further includes | |||
| 18.87 g/t Au over 3.20 metres, | |||
| 2.97 g/t Au over 5.10 metres, and | |||
| 17.85 g/t Au over 3.70 metres (see Figs. 1 and 4); | |||
| FA-21-289 | 2.29 g/t Au over 32.00 metres, including | ||
| 4.09 g/t Au over 9.00 metres, and | |||
| 3.54 g/t Au over 9.20 metres (see Fig. 1); | |||
| FA-21-264A-W1 | 8.49 g/t Au over 4.45 metres, including | ||
| 50.06 g/t Au over 0.65 metres, and | |||
| 64.81 g/t Au over 0.50 metres (see Figs. 1 and 5); | |||
| FA-21-264A-W2 | 31.40 g/t Au over 1.50 metres, and | ||
| 7.90 g/t Au over 3.70 metres, including | |||
| 16.05 g/t Au over 1.30 metres (see Figs. 1 and 5); | |||
| FA-21-282 | 24.79 g/t Au over 1.70 metres, including | ||
| 73.70 g/t Au over 0.50 metres (see Figs. 1 and 3); | |||
| FA-21-282-W2 | 19.93 g/t Au over 2.20 metres (see Figs. 1 and 3); | ||
| FA-21-295 | 3.98 g/t Au over 7.50 metres, including | ||
| 43.50 g/t Au over 0.50 metres (see Figs. 1 and 3); | |||
| FA-21-298 | 2.47 g/t Au over 18.65 metres, including | ||
| 42.80 g/t Au over 0.50 metres (see Figs. 1 and 8); | |||
In-fill Sampling Program Results
A systematic campaign of continuous in-fill sampling of historic drill holes to a vertical depth of 250 metres, as well as within modelled mineralized corridors at greater depth was completed in order to collect further information for the open pit constrained portion of the MMRE.
Assay results from the historic drilling in-fill sampling program are highlighted by:
| FA-19-103 | 3.88 g/t Au over 9.00 metres, and | ||
| 3.28 g/t Au over 6.00 metres, including | |||
| 7.02 g/t Au over 2.00 metres in Area 51 (see Figs. 1 and 7); | |||
| 19-1110-012 | 5.48 g/t Au over 3.00 metres in the Gabbro Zones (see Fig. 1 and 2); | ||
2021 Drilling Program Update
Approximately 150,000 to 170,000 metres of drilling, including 20,000 to 25,000 metres devoted to regional exploration on the Company's district-scale, underexplored land package on the Detour-Fenelon Gold Trend, is planned for 2021.
Assay results of 48 drill holes of the 2021 exploration drill program and 3 historic drill holes are reported in the Table and Figures 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, Plan View
https://www.globenewswire.com/NewsRoom/AttachmentNg/e2453546-1639-42b0-9386-63f54661cacb
Figure 2. Fenelon Gold, Tabasco-Cayenne-Gabbro Zones Long Section
https://www.globenewswire.com/NewsRoom/AttachmentNg/301c911e-aa34-49dc-ad52-0845afe11130
Figure 3. Fenelon Gold, Cross Section 9825_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/7497db78-ccdd-48aa-b725-499d90ade844
Figure 4. Fenelon Gold, Cross Section 9900_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/216a055e-4ff4-4a3c-aaa3-40db75b4de96
Figure 5. Fenelon Gold, Cross Section 9975_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/22e9e0b6-e48a-49b2-b884-8dc855fcd309
Figure 6. Fenelon Gold, Cross Section 10125_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/47f9e13b-fb3c-4458-8141-031617356f57
Figure 7. Fenelon Gold, Cross Section 10200_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/6992f0f9-ada9-43ef-8772-bc1031f0ef62
Figure 8. Fenelon Gold, Cross Section 10350_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1e9beca-642c-4ebf-b928-710e4e5dcdf3
| Table 1. Wallbridge Fenelon Gold Property, Recent 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) | ||||
| 19-1110-012 | 62.80 | 65.80 | 3.00 | 5.48 | 5.48 | Main Gabbro | 10575 | |
| FA-19-085 | 50.50 | 54.50 | 4.00 | 1.35 | 1.35 | Tabasco | 9825 | |
| FA-19-096-W1 | 772.30 | 794.15 | 21.85 | 2.67 | 2.67 | VG | Tabasco | 10125 |
| Including… | 785.40 | 794.15 | 8.75 | 4.63 | 4.63 | VG | Tabasco | 10125 |
| FA-19-096-W1 | 861.60 | 862.60 | 1.00 | 5.10 | 5.10 | Cayenne | 10050 | |
| FA-19-096-W2 | 679.00 | 682.55 | 3.55 | 2.01 | 2.01 | Area 51 | 10125 | |
| FA-19-096-W2 | 763.10 | 773.75 | 10.65 | 1.95 | 1.95 | VG | Tabasco | 10125 |
| Including… | 766.85 | 769.05 | 2.20 | 3.44 | 3.44 | VG | Tabasco | 10125 |
| FA-19-096-W2 | 811.70 | 815.65 | 3.95 | 2.08 | 2.08 | Tabasco | 10125 | |
| FA-19-096-W2 | 893.40 | 898.00 | 4.60 | 6.97 | 6.97 | VG | Cayenne | 10125 |
| Including… | 893.40 | 893.90 | 0.50 | 48.54 | 48.54 | VG | Cayenne | 10125 |
| FA-19-103 | 435.00 | 444.00 | 9.00 | 3.88 | 3.88 | Area 51 | 10200 | |
| FA-19-103 | 582.00 | 588.00 | 6.00 | 3.28 | 3.28 | VG | Area 51 | 10200 |
| Including… | 584.00 | 586.00 | 2.00 | 7.02 | 7.02 | VG | Area 51 | 10200 |
| FA-20-148 | 655.00 | 656.50 | 1.50 | 4.63 | 4.63 | Area 51 | 10250 | |
| FA-20-159-W2 | 526.20 | 528.65 | 2.45 | 2.14 | 2.14 | Area 51 | 10200 | |
| FA-20-159-W2 | 532.70 | 540.00 | 7.30 | 2.46 | 2.46 | Area 51 | 10200 | |
| Including… | 536.00 | 537.50 | 1.50 | 8.83 | 8.83 | Area 51 | 10200 | |
| FA-20-159-W2 | 551.00 | 554.00 | 3.00 | 2.01 | 2.01 | Area 51 | 10200 | |
| FA-20-159-W2 | 573.80 | 580.75 | 6.95 | 1.96 | 1.96 | VG | Area 51 | 10200 |
| FA-20-159-W2 | 632.50 | 637.20 | 4.70 | 2.79 | 2.79 | VG | Area 51 | 10200 |
| FA-20-159-W2 | 654.00 | 657.00 | 3.00 | 1.97 | 1.97 | Area 51 | 10200 | |
| FA-20-159-W2 | 723.10 | 733.10 | 10.00 | 2.13 | 2.13 | Area 51 | 10200 | |
| FA-20-159-W2 | 749.65 | 751.90 | 2.25 | 2.59 | 2.59 | Area 51 | 10200 | |
| FA-20-159-W2 | 757.50 | 762.70 | 5.20 | 2.62 | 2.62 | VG | Area 51 | 10200 |
| FA-20-159-W2 | 825.10 | 830.30 | 5.20 | 3.73 | 3.73 | Contact Zone | 10200 | |
| FA-20-159-W2 | 923.70 | 931.45 | 7.75 | 4.38 | 4.38 | VG | Cayenne | 10200 |
| Including… | 923.70 | 926.75 | 3.05 | 9.01 | 9.01 | VG | Cayenne | 10200 |
| FA-20-205-W1 | 669.00 | 671.60 | 2.60 | 2.50 | 2.50 | Area 51 | 10350 | |
| FA-20-205-W1 | 695.50 | 698.85 | 3.35 | 2.18 | 2.18 | VG | Area 51 | 10350 |
| Including… | 697.30 | 698.85 | 1.55 | 3.70 | 3.70 | VG | Area 51 | 10350 |
| FA-20-205-W1 | 711.50 | 713.00 | 1.50 | 7.08 | 7.08 | Area 51 | 10350 | |
| FA-20-205-W1 | 749.70 | 755.20 | 5.50 | 5.18 | 5.18 | VG | Area 51 | 10350 |
| Including… | 749.70 | 750.20 | 0.50 | 28.24 | 28.24 | VG | Area 51 | 10350 |
| FA-20-205-W1 | 815.50 | 817.00 | 1.50 | 3.73 | 3.73 | Area 51 | 10350 | |
| FA-20-205-W1 | 883.00 | 884.00 | 1.00 | 6.14 | 6.14 | Area 51 | 10350 | |
| FA-20-205-W1 | 942.00 | 954.45 | 12.45 | 3.12 | 3.12 | Tabasco | 10350 | |
| FA-20-205-W1 | 973.00 | 989.30 | 16.30 | 1.99 | 1.99 | VG | Tabasco | 10350 |
| FA-21-246A | 326.00 | 326.50 | 0.50 | 12.80 | 12.80 | Area 51 | 9750 | |
| FA-21-250-W1 | 737.00 | 738.80 | 1.80 | 4.11 | 4.11 | Area 51 | 9900 | |
| FA-21-250-W1 | 1037.00 | 1041.50 | 4.50 | 5.89 | 5.89 | VG | Tabasco | 9900 |
| Including… | 1041.00 | 1041.50 | 0.50 | 33.26 | 33.26 | VG | Tabasco | 9900 |
| FA-21-250-W2 | 736.55 | 739.00 | 2.45 | 2.79 | 2.79 | Area 51 | 9900 | |
| Including… | 738.00 | 739.00 | 1.00 | 6.11 | 6.11 | Area 51 | 9900 | |
| FA-21-250-W2 | 962.00 | 968.00 | 6.00 | 1.99 | 1.99 | Area 51 | 9900 | |
| Including… | 965.25 | 966.00 | 0.75 | 8.32 | 8.32 | Area 51 | 9900 | |
| FA-21-250-W2 | 977.00 | 980.00 | 3.00 | 3.42 | 3.42 | VG | Area 51 | 9900 |
| Including… | 977.85 | 978.35 | 0.50 | 17.14 | 17.14 | VG | Area 51 | 9900 |
| FA-21-250-W2 | 1007.50 | 1011.00 | 3.50 | 3.87 | 3.87 | VG | Area 51 | 9900 |
| FA-21-250-W3 | 499.50 | 501.00 | 1.50 | 3.56 | 3.56 | Area 51 | 9900 | |
| FA-21-250-W4 | 721.50 | 723.00 | 1.50 | 4.27 | 4.27 | Area 51 | 9900 | |
| FA-21-250-W4 | 871.00 | 955.70 | 84.70 | 2.10 | 1.91 | VG | Area 51 | 9900 |
| Including… | 888.00 | 902.30 | 14.30 | 5.15 | 5.15 | VG | Area 51 | 9900 |
| Which Includes… | 893.40 | 896.60 | 3.20 | 18.87 | 18.87 | VG | Area 51 | 9900 |
| And… | 927.40 | 932.50 | 5.10 | 2.97 | 2.97 | VG | Area 51 | 9900 |
| And… | 952.00 | 955.70 | 3.70 | 17.85 | 13.55 | VG | Area 51 | 9900 |
| FA-21-251 | No Significant Mineralization(4) | 9825 & 9750 | ||||||
| FA-21-253 | 254.00 | 257.95 | 3.95 | 3.66 | 3.66 | Tabasco | 10200 | |
| FA-21-253 | 295.15 | 305.00 | 9.85 | 0.80 | 0.80 | VG | Tabasco | 10200 |
| FA-21-253 | 327.00 | 337.20 | 10.20 | 0.83 | 0.83 | VG | Tabasco | 10200 |
| Including… | 333.75 | 337.20 | 3.45 | 1.69 | 1.69 | VG | Tabasco | 10200 |
| FA-21-253 | 635.50 | 642.00 | 6.50 | 2.95 | 2.95 | Cayenne | 10200 | |
| Including… | 639.00 | 640.50 | 1.50 | 8.35 | 8.35 | Cayenne | 10200 | |
| FA-21-254 | No Significant Mineralization(4) | 10350 & 10275 | ||||||
| FA-21-255 | 329.50 | 331.00 | 1.50 | 4.01 | 4.01 | VG | Area 51 | 10050 |
| FA-21-255 | 561.00 | 562.70 | 1.70 | 3.46 | 3.46 | VG | Tabasco | 10050 |
| FA-21-256 | No Significant Mineralization(4) | 10200 & 10275 | ||||||
| FA-21-258 | 214.00 | 235.70 | 21.70 | 0.90 | 0.90 | VG | Area 51 | 10050 |
| Including… | 225.55 | 230.20 | 4.65 | 2.69 | 2.69 | VG | Area 51 | 10050 |
| FA-21-258-W1 | 225.90 | 262.00 | 36.10 | 0.83 | 0.83 | VG | Area 51 | 10050 |
| Including… | 244.50 | 245.00 | 0.50 | 14.50 | 14.50 | VG | Area 51 | 10050 |
| And… | 259.05 | 262.00 | 2.95 | 3.71 | 3.71 | VG | Area 51 | 10050 |
| FA-21-258-W1 | 310.10 | 315.00 | 4.90 | 1.21 | 1.21 | Area 51 | 10050 | |
| FA-21-258-W1 | 333.00 | 334.50 | 1.50 | 4.37 | 4.37 | Area 51 | 10050 | |
| FA-21-258-W1 | 396.00 | 401.50 | 5.50 | 6.91 | 6.91 | Area 51 | 10050 | |
| FA-21-258-W1 | 415.00 | 416.50 | 1.50 | 5.86 | 5.86 | Area 51 | 10050 | |
| FA-21-258-W1 | 582.00 | 585.50 | 3.50 | 2.74 | 2.74 | Tabasco | 10050 | |
| FA-21-259 | No Significant Mineralization(4) | 10350 & 10425 | ||||||
| FA-21-261 | 67.00 | 78.50 | 11.50 | 0.89 | 0.89 | VG | Area 51 | 10200 |
| Including… | 67.00 | 72.50 | 5.50 | 1.19 | 1.19 | Area 51 | 10200 | |
| FA-21-261 | 688.60 | 702.60 | 14.00 | 1.73 | 1.73 | Area 51 | 10200 | |
| Including… | 688.60 | 694.60 | 6.00 | 3.16 | 3.16 | Area 51 | 10200 | |
| FA-21-261 | 846.85 | 848.50 | 1.65 | 4.28 | 4.28 | Area 51 | 10200 | |
| FA-21-261 | 939.50 | 946.20 | 6.70 | 2.24 | 2.24 | VG | Area 51 | 10200 |
| Including… | 939.50 | 940.00 | 0.50 | 24.69 | 24.69 | VG | Area 51 | 10200 |
| FA-21-261 | 1098.40 | 1107.85 | 9.45 | 3.56 | 3.56 | VG | Tabasco | 10200 |
| FA-21-261-W1 | 694.90 | 700.60 | 5.70 | 2.33 | 2.33 | Area 51 | 10200 | |
| Including… | 694.90 | 696.10 | 1.20 | 7.98 | 7.98 | Area 51 | 10200 | |
| FA-21-261-W1 | 843.50 | 845.95 | 2.45 | 2.85 | 2.85 | Area 51 | 10200 | |
| FA-21-261-W1 | 983.10 | 988.45 | 5.35 | 4.00 | 4.00 | VG | Area 51 | 10200 |
| Including… | 983.10 | 984.60 | 1.50 | 13.29 | 13.29 | VG | Area 51 | 10200 |
| FA-21-261-W1 | 1010.60 | 1012.70 | 2.10 | 3.07 | 3.07 | Contact Zone | 10200 | |
| FA-21-261-W1 | 1084.00 | 1084.70 | 0.70 | 12.30 | 12.30 | Cayenne | 10200 | |
| FA-21-261-W2 | 696.90 | 699.40 | 2.50 | 2.09 | 2.09 | Area 51 | 10200 | |
| FA-21-261-W2 | 776.35 | 776.85 | 0.50 | 13.57 | 13.57 | VG | Area 51 | 10200 |
| FA-21-261-W2 | 839.85 | 841.45 | 1.60 | 4.61 | 4.61 | VG | Area 51 | 10200 |
| FA-21-261-W2 | 871.00 | 873.80 | 2.80 | 2.18 | 2.18 | VG | Area 51 | 10200 |
| FA-21-261-W2 | 976.10 | 978.25 | 2.15 | 6.40 | 6.40 | VG | Area 51 | 10200 |
| FA-21-261-W2 | 1023.75 | 1025.55 | 1.80 | 2.92 | 2.92 | Area 51 | 10125 | |
| FA-21-261-W2 | 1106.50 | 1118.00 | 11.50 | 3.03 | 3.03 | VG | Cayenne | 10125 |
| Including… | 1117.50 | 1118.00 | 0.50 | 45.61 | 45.61 | VG | Cayenne | 10125 |
| FA-21-261-W3 | 701.45 | 706.50 | 5.05 | 2.42 | 2.42 | Area 51 | 10200 | |
| FA-21-261-W3 | 814.50 | 817.60 | 3.10 | 2.26 | 2.26 | VG | Area 51 | 10200 |
| FA-21-261-W3 | 1046.10 | 1047.60 | 1.50 | 3.90 | 3.90 | VG | Area 51 | 10200 |
| FA-21-261-W3 | 1080.05 | 1084.00 | 3.95 | 3.42 | 3.42 | Area 51 | 10200 | |
| Including… | 1083.35 | 1084.00 | 0.65 | 14.90 | 14.90 | Area 51 | 10200 | |
| FA-21-261-W3 | 1132.60 | 1135.00 | 2.40 | 2.39 | 2.39 | VG | Tabasco | 10200 |
| FA-21-261-W4 | 689.00 | 690.00 | 1.00 | 5.68 | 5.68 | Area 51 | 10200 | |
| FA-21-261-W4 | 709.65 | 710.40 | 0.75 | 15.20 | 15.20 | Area 51 | 10200 | |
| FA-21-261-W4 | 873.50 | 875.50 | 2.00 | 3.57 | 3.57 | Area 51 | 10200 | |
| FA-21-261-W4 | 995.00 | 999.50 | 4.50 | 2.70 | 2.70 | Area 51 | 10125 | |
| FA-21-262 | 142.00 | 154.00 | 12.00 | 0.68 | 0.68 | VG | Area 51 | 9525 |
| FA-21-263 | 650.40 | 651.00 | 0.60 | 30.93 | 30.93 | VG | Cayenne | 10350 |
| FA-21-263-W1 | No Significant Mineralization(4) | 10425 & 10500 | ||||||
| FA-21-264A-W1 | 314.70 | 319.15 | 4.45 | 8.49 | 8.48 | VG | Area 51 | 9975 |
| Including… | 318.50 | 319.15 | 0.65 | 50.06 | 50.00 | VG | Area 51 | 9975 |
| FA-21-264A-W1 | 352.70 | 353.20 | 0.50 | 64.81 | 50.00 | VG | Area 51 | 9975 |
| FA-21-264A-W1 | 402.30 | 408.00 | 5.70 | 1.71 | 1.71 | VG | Area 51 | 9975 |
| FA-21-264A-W2 | 300.00 | 302.20 | 2.20 | 2.50 | 2.50 | Area 51 | 9975 | |
| FA-21-264A-W2 | 355.80 | 356.45 | 0.65 | 22.80 | 22.80 | Area 51 | 9975 | |
| FA-21-264A-W2 | 400.00 | 402.30 | 2.30 | 3.52 | 3.52 | VG | Area 51 | 9975 |
| Including… | 401.75 | 402.30 | 0.55 | 12.19 | 12.19 | VG | Area 51 | 9975 |
| FA-21-264A-W2 | 432.00 | 433.50 | 1.50 | 31.40 | 31.40 | Area 51 | 9975 | |
| FA-21-264A-W2 | 457.50 | 461.20 | 3.70 | 7.90 | 7.90 | VG | Area 51 | 9975 |
| Including… | 459.90 | 461.20 | 1.30 | 16.05 | 16.05 | VG | Area 51 | 9975 |
| FA-21-264A-W2 | 500.50 | 503.50 | 3.00 | 3.66 | 3.66 | Tabasco | 9975 | |
| FA-21-264A-W2 | 546.20 | 547.40 | 1.20 | 4.35 | 4.35 | Tabasco | 9975 | |
| FA-21-264A-W3 | No Significant Mineralization(4) | 9975 | ||||||
| FA-21-264A-W4 | 319.75 | 320.40 | 0.65 | 16.60 | 16.60 | Area 51 | 9975 | |
| FA-21-264A-W4 | 371.40 | 371.90 | 0.50 | 17.67 | 17.67 | VG | Area 51 | 9975 |
| FA-21-264A-W4 | 383.90 | 387.00 | 3.10 | 1.88 | 1.88 | VG | Area 51 | 9975 |
| FA-21-264A-W4 | 416.60 | 421.40 | 4.80 | 3.82 | 3.82 | Area 51 | 9975 | |
| FA-21-266-W1 | 823.30 | 826.60 | 3.30 | 2.79 | 2.79 | VG | Area 51 | 10250 |
| FA-21-266-W1 | 1113.30 | 1114.50 | 1.20 | 6.46 | 6.46 | Contact Zone | 10250 | |
| FA-21-266-W1 | 1125.00 | 1150.10 | 25.10 | 2.21 | 2.21 | Contact Zone | 10250 | |
| Including… | 1125.00 | 1136.75 | 11.75 | 3.59 | 3.59 | Contact Zone | 10250 | |
| FA-21-266-W1 | 1196.50 | 1199.50 | 3.00 | 1.98 | 1.98 | Cayenne | 10250 | |
| FA-21-266-W2 | 841.00 | 842.00 | 1.00 | 14.03 | 14.03 | VG | Area 51 | 10250 |
| FA-21-266-W2 | 1083.00 | 1092.30 | 9.30 | 2.29 | 2.29 | VG | Area 51 | 10350 |
| Including… | 1091.75 | 1092.30 | 0.55 | 21.11 | 21.11 | VG | Area 51 | 10350 |
| FA-21-266-W2 | 1113.00 | 1114.00 | 1.00 | 6.92 | 6.92 | Contact Zone | 10350 | |
| FA-21-266-W2 | 1183.00 | 1184.50 | 1.50 | 7.50 | 7.50 | Cayenne | 10350 | |
| FA-21-274 | 116.50 | 128.00 | 11.50 | 0.89 | 0.89 | Contact zone | 9750 | |
| FA-21-277A | 317.50 | 320.50 | 3.00 | 3.49 | 3.49 | Tabasco | 10250 | |
| FA-21-277A | 366.00 | 369.00 | 3.00 | 1.87 | 1.87 | Tabasco | 10250 | |
| FA-21-277A | 490.00 | 493.00 | 3.00 | 3.81 | 3.81 | Tabasco | 10250 | |
| FA-21-277A | 502.65 | 505.70 | 3.05 | 2.39 | 2.39 | Tabasco | 10250 | |
| FA-21-278 | 458.20 | 458.75 | 0.55 | 10.10 | 10.10 | Tabasco | 10250 | |
| FA-21-281 | No Significant Mineralization(4) | 9975 | ||||||
| FA-21-282 | 182.30 | 200.00 | 17.70 | 0.68 | 0.68 | Area 51 | 9825 | |
| Including… | 182.30 | 183.55 | 1.25 | 6.53 | 6.53 | Area 51 | 9825 | |
| FA-21-282 | 266.40 | 277.10 | 10.70 | 3.80 | 3.80 | Area 51 | 9825 | |
| Including… | 266.40 | 268.95 | 2.55 | 11.67 | 11.67 | Area 51 | 9825 | |
| FA-21-282 | 302.50 | 304.00 | 1.50 | 5.53 | 5.53 | Area 51 | 9825 | |
| FA-21-282 | 379.70 | 390.00 | 10.30 | 1.50 | 1.50 | VG | Area 51 | 9825 |
| Including… | 387.75 | 390.00 | 2.25 | 5.13 | 5.13 | VG | Area 51 | 9825 |
| FA-21-282 | 478.30 | 478.80 | 0.50 | 11.00 | 11.00 | Area 51 | 9825 | |
| FA-21-282 | 496.30 | 498.00 | 1.70 | 24.79 | 17.82 | Area 51 | 9825 | |
| Including… | 496.30 | 496.80 | 0.50 | 73.70 | 50.00 | Area 51 | 9825 | |
| FA-21-282 | 544.25 | 545.00 | 0.75 | 7.58 | 7.58 | Area 51 | 9825 | |
| FA-21-282 | 659.80 | 662.70 | 2.90 | 2.64 | 2.64 | VG | Area 51 | 9825 |
| Including… | 659.80 | 660.35 | 0.55 | 11.40 | 11.40 | VG | Area 51 | 9825 |
| FA-21-282 | 684.80 | 686.20 | 1.40 | 7.64 | 7.64 | Tabasco | 9825 | |
| FA-21-282 | 739.80 | 744.75 | 4.95 | 3.00 | 3.00 | Cayenne | 9825 | |
| FA-21-282-W2 | 593.50 | 595.70 | 2.20 | 19.93 | 19.93 | Area 51 | 9825 | |
| FA-21-282-W2 | 687.55 | 690.00 | 2.45 | 8.24 | 8.24 | Tabasco | 9825 | |
| FA-21-283B | 564.50 | 573.20 | 8.70 | 5.97 | 5.97 | VG | Tabasco | 10200 |
| FA-21-288 | 144.80 | 167.00 | 22.20 | 0.71 | 0.71 | Area 51 | 9825 | |
| Including… | 151.50 | 156.00 | 4.50 | 2.93 | 2.93 | Area 51 | 9825 | |
| FA-21-288 | 183.50 | 188.00 | 4.50 | 3.06 | 3.06 | Area 51 | 9825 | |
| FA-21-288 | 233.70 | 248.40 | 14.70 | 0.72 | 0.72 | VG | Area 51 | 9825 |
| FA-21-288 | 329.00 | 330.10 | 1.10 | 8.34 | 8.34 | VG | Area 51 | 9750 |
| FA-21-289 | 165.95 | 169.00 | 3.05 | 1.99 | 1.99 | Area 51 | 10250 | |
| FA-21-289 | 409.50 | 413.00 | 3.50 | 2.02 | 2.02 | Area 51 | 10250 | |
| FA-21-289 | 493.00 | 525.00 | 32.00 | 2.29 | 2.29 | VG | Area 51 | 10250 |
| Including… | 495.00 | 504.00 | 9.00 | 4.09 | 4.09 | Area 51 | 10250 | |
| And… | 513.30 | 522.50 | 9.20 | 3.54 | 3.54 | VG | Area 51 | 10250 |
| FA-21-289 | 624.10 | 628.10 | 4.00 | 2.07 | 2.07 | Area 51 | 10250 | |
| FA-21-289 | 852.00 | 854.30 | 2.30 | 5.29 | 5.29 | Cayenne | 10250 | |
| FA-21-291 | 74.50 | 89.00 | 14.50 | 0.96 | 0.96 | Area 51 | 9675 | |
| Including… | 74.50 | 76.00 | 1.50 | 3.58 | 3.58 | Area 51 | 9675 | |
| And… | 86.00 | 87.10 | 1.10 | 5.90 | 5.90 | Area 51 | 9675 | |
| FA-21-292 | 89.50 | 113.15 | 23.65 | 0.80 | 0.80 | VG | Area 51 | 9900 |
| Including… | 109.25 | 109.75 | 0.50 | 24.53 | 24.53 | VG | Area 51 | 9900 |
| FA-21-292 | 246.00 | 250.00 | 4.00 | 1.89 | 1.89 | Contact zone | 9900 | |
| FA-21-292 | 269.35 | 276.70 | 7.35 | 2.01 | 2.01 | Tabasco | 9900 | |
| Including… | 275.70 | 276.70 | 1.00 | 7.47 | 7.47 | Tabasco | 9900 | |
| FA-21-292 | 315.05 | 316.00 | 0.95 | 19.80 | 19.80 | Tabasco | 9900 | |
| FA-21-293A | 353.00 | 358.00 | 5.00 | 2.05 | 2.05 | VG | Area 51 | 10125 |
| FA-21-293A | 376.00 | 379.40 | 3.40 | 1.48 | 1.48 | Contact Zone | 10125 | |
| FA-21-293A | 387.00 | 392.00 | 5.00 | 1.12 | 1.12 | Contact Zone | 10125 | |
| FA-21-293A | 407.40 | 408.00 | 0.60 | 9.76 | 9.76 | Tabasco | 10125 | |
| FA-21-293A | 501.25 | 510.25 | 9.00 | 3.72 | 3.72 | VG | Tabasco | 10125 |
| Including… | 504.65 | 510.25 | 5.60 | 5.56 | 5.56 | VG | Tabasco | 10125 |
| FA-21-293A | 555.00 | 561.10 | 6.10 | 2.23 | 2.23 | Tabasco | 10125 | |
| FA-21-293A | 585.60 | 586.90 | 1.30 | 5.98 | 5.98 | Tabasco | 10125 | |
| FA-21-295 | 70.50 | 71.00 | 0.50 | 29.99 | 29.99 | VG | Area 51 | 9825 |
| FA-21-295 | 355.00 | 356.60 | 1.60 | 5.52 | 5.52 | VG | Area 51 | 9825 |
| FA-21-295 | 383.50 | 391.00 | 7.50 | 3.98 | 3.98 | VG | Area 51 | 9825 |
| Including… | 390.50 | 391.00 | 0.50 | 43.50 | 43.50 | VG | Area 51 | 9825 |
| FA-21-295 | 401.00 | 405.00 | 4.00 | 3.78 | 3.78 | VG | Area 51 | 9825 |
| FA-21-298 | 212.00 | 222.10 | 10.10 | 0.73 | 0.73 | Area 51 | 10350 | |
| FA-21-298 | 316.00 | 316.50 | 0.50 | 11.13 | 11.13 | VG | Area 51 | 10350 |
| FA-21-298 | 593.35 | 612.00 | 18.65 | 2.47 | 2.47 | VG | Area 51 | 10350 |
| Including… | 593.35 | 593.85 | 0.50 | 42.80 | 42.80 | VG | Area 51 | 10350 |
| FA-21-298 | 665.00 | 667.70 | 2.70 | 7.01 | 7.01 | VG | Area 51 | 10350 |
| FA-21-298 | 805.30 | 808.85 | 3.55 | 3.80 | 3.80 | Contact Zone | 10350 | |
| FA-21-298 | 844.50 | 846.00 | 1.50 | 4.11 | 4.11 | Contact Zone | 10350 | |
| FA-21-299 | 54.65 | 57.10 | 2.45 | 8.54 | 8.54 | VG | Contact zone | 10350 |
| Including… | 56.50 | 57.10 | 0.60 | 32.78 | 32.78 | VG | Contact zone | 10350 |
| FA-21-299 | 282.75 | 305.05 | 22.30 | 0.97 | 0.97 | Area 51 | 10350 | |
| Including… | 282.75 | 284.10 | 1.35 | 10.95 | 10.95 | Area 51 | 10350 | |
| FA-21-300 | 26.10 | 37.90 | 11.80 | 0.93 | 0.93 | VG | Contact zone | 10425 |
| Including… | 26.10 | 26.70 | 0.60 | 8.69 | 8.69 | VG | Contact zone | 10425 |
| FA-21-300 | 178.00 | 180.50 | 2.50 | 2.27 | 2.27 | Contact zone | 10425 | |
| FA-21-300 | 280.85 | 289.75 | 8.90 | 0.77 | 0.77 | Contact zone | 10425 | |
(1) Table includes only assay results received since the latest press release dated Sept 15, 2021.
(2) Au cut at: 100 g/t Au for the Tabasco/Contact zones; 60 g/t Au for the Cayenne zones; 50 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 1 g/t Au.
* Results reported here contain previously announced intervals that were extended with new assay results.
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 2021 drill program at Fenelon are cut and bagged either on site or by contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities Canada Ltd. for analysis. In 2020 samples were submitted to either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples, along with standards and blanks that 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. At SGS, AGAT 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 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 Peter Lauder, P.Geo, Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is currently advancing the exploration and development of its 100%‒owned Fenelon Gold property located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern Qu?bec. The Company completed approximately 102,000 metres of drilling in 2020 and is currently conducting a fully‒funded 2021 program of approximately 150,000-170,000 metres of drilling and 2,500 metres of underground exploration development (Phase 1 of a 10,000‒metre program). The Company intends to complete a maiden mineral resource estimate on the Fenelon Gold System in October 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 Qu?bec along the Detour‒Fenelon Gold Trend total more than 900.0 km2, improving Wallbridge's potential for further discoveries along a 90‒kilometre strike length in this underexplored belt.
Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's Sudbury Basin.
This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Ltd..
For further information please visit the Company's website at www.wallbridgemining.com or contact:
Wallbridge Mining Company Ltd.
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: mkord@wallbridgemining.com
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com
This press release may contain certain "forward‒looking statements" within the meaning of applicable Canadian securities legislation relating to, among other things, the operations of Wallbridge Mining Company Ltd. ("Wallbridge" or "Company") and the environment within which it operates. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Wallbridge, future opportunities and anticipated goals, the Company's portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective mineralization of the properties, are forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward‒looking information can be identified by the use of forward‒looking terminology such as "seeks", "believes", "anticipates", "plans", "continues", "budget", "scheduled", "estimates", "expects", "forecasts", "intends", "projects", "predicts", "proposes", "potential", "targets" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would", "should" or "might", "be taken", "occur" or "be achieved". There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
By their nature, forward‒looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval, the actual results of current exploration activities, fluctuations in prices of commodities, fluctuations in currency markets, actual results of additional exploration and development activities at the Company's projects, capital expenditures, the availability of any additional capital required to advance projects, accidents, or pandemic interruptions.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‒looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company.
The Company does not undertake to update any forward‒looking information, except in accordance with applicable securities laws. The Company believes that the expectations reflected in those forward‒looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward‒looking statements included in this press release should not be unduly relied upon by investors as actual results may vary.
Risks and uncertainties about Wallbridge's business are more fully discussed in the disclosure material filed with the securities regulatory authorities in Canada and available on SEDAR under the Company's profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on the forward‒looking statements contained in this press release.
Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.