Wallbridge Updates Progress on Maiden Mineral Resource Estimate at Fenelon

October 6, 2021

Toronto, Ontario – October 6, 2021 – Wallbridge Mining Company Limited (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

Figure 2. Fenelon Gold, Tabasco-Cayenne-Gabbro Zones Long Section

Figure 3. Fenelon Gold, Cross Section 9825_E

Figure 4. Fenelon Gold, Cross Section 9900_E

Figure 5. Fenelon Gold, Cross Section 9975_E

Figure 6. Fenelon Gold, Cross Section 10125_E

Figure 7. Fenelon Gold, Cross Section 10200_E

Figure 8. Fenelon Gold, Cross Section 10350_E

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

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)

 

 

 

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

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)

 

 

 

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

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)

 

 

 

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

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)

 

 

 

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

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)

 

 

 

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

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)

 

 

 

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 Québec. 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 Québec 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 Limited.

For further information please visit the Company's website at www.wallbridgemining.com or contact:

Wallbridge Mining Company Limited

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 Limited (“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.

Sign Up for News

Our
Governance

boardroom icon
We believe trust and transparency are essential to the way we operate.

Join Our Team

Wallbridge Mining Company Limited is an equal opportunity employer.

Job offers at Wallbridge Mining

Position Title Status Location
Geology Technician Full Time Fenelon
Geologist Full Time Fenelon
See All Jobs