Martinière Project, Québec, Canada

Project Snapshot

Status:

Advanced exploration stage

Location:

Detour-Fenelon Gold Trend ~45 km east of Detour Lake gold mine (Kirkland Lake Gold) and 30 km west of Fenelon Gold

Commodity:

Gold

Ownership:

100% Wallbridge

Current exploration activities:

Review of project data for exploration targeting

Mineral resources:

Historic Indicated resource of 591,000 oz and Historic Inferred resource of 54,000 oz split 73%/27% between open pit and underground resources (March 2018)

  • Overview

    The Martinière project is located approximately 110 km west of the town of Matagami and 150 km north of Amos, Québec, Canada. With the acquisition of Balmoral Resources Ltd. (“Balmoral”) Balmoral, Wallbridge increased its land position from 10.5 km2 to 739 km2 along the eastern extension of the Sunday Lake Deformation Zone ("SLDZ"), a major east-west structure in the northern Abitibi greenstone belt which hosts the Detour Lake gold mine in Ontario (Kirkland Lake Gold). The Martinière project is located 45 kilometres east of the Detour Lake mine and is part of a contiguous group of claims totaling 61.7 km2.

    Balmoral acquired the Martinière project in November 2010 and, from 2011 to 2017, drilled 133,852 metres in 519 diamond drill holes and reported an initial mineral resource estimate in March 2018. Their work expanded the historical intercepts on the project into the Bug and Martinière West gold deposits and identified several additional zones and showings, including VMS mineralization.
     

    Table 1. Martinière Highlight Drill Results (> 100 Metal Factor) from 2011-2017 Drilling by Balmoral Resources

    Hole ID

    From (m)

    To (m)

    Length (m)

    Au (g/t)

    Metal Factor (1)

    MDE-14-143

    88.30

    116.40

    28.00

    170.70

    4785

    MDE-12-29

    166.00

    173.80

    7.80

    117.30

    913

    MDE-15-166

    118.80

    163.20

    44.50

    18.10

    806

    MDE-15-170

    105.50

    116.40

    10.90

    21.90

    240

    MDW-13-88

    97.30

    123.30

    26.00

    9.10

    237

    MDE-12-39

    35.60

    36.50

    1.00

    195.50

    190

    MDW-11-04

    80.30

    100.70

    20.40

    8.80

    180

    MDE-14-145

    59.00

    138.20

    79.20

    2.20

    176

    MDW-11-17

    52.50

    74.00

    21.50

    7.80

    167

    MDE-12-60

    172.40

    174.80

    2.40

    67.60

    165

    MDE-13-122A

    186.60

    192.80

    6.20

    26.40

    164

    MDE-16-205

    202.20

    204.50

    2.30

    67.90

    157

    MDW-11-01

    106.00

    118.00

    12.00

    12.90

    155

    MDE-15-173

    119.10

    141.60

    22.50

    6.90

    154

    MDE-12-72

    25.70

    32.50

    6.70

    22.60

    152

    MDE-12-65

    60.60

    80.30

    19.70

    7.70

    151

    MDE-15-175A

    172.00

    187.70

    15.80

    9.00

    142

    MDE-12-56

    106.00

    107.00

    1.00

    138.00

    138

    MDE-16-242A

    162.20

    240.40

    78.20

    1.60

    127

    MDE-15-184

    74.90

    83.40

    8.50

    14.70

    125

    MDW-11-19

    135.50

    164.10

    28.60

    4.20

    121

    MDE-15-168

    199.40

    210.40

    11.00

    10.90

    120

    MDE-16-221

    110.90

    137.80

    26.90

    4.40

    118

    MDE-14-143

    395.30

    402.80

    7.50

    15.50

    116

    MDE-16-218

    148.70

    189.00

    40.30

    2.80

    112

    MDE-12-20

    41.00

    50.30

    9.30

    11.30

    105

    MDE-12-83

    18.10

    27.00

    8.90

    11.70

    105

    MDE-11-01

    57.00

    75.60

    18.60

    5.60

    104

    MDW-11-24a

    120.70

    124.40

    3.70

    27.50

    103

    MDE-16-216

    206.40

    231.50

    25.10

    4.10

    103

    MDW-11-22

    67.50

    68.90

    1.40

    74.50

    101

    MDW-11-30

    142.00

    144.30

    2.30

    43.40

    101

    MDE-14-147

    288.30

    296.30

    8.00

    12.50

    100

    Note:

    1. True widths are estimated to be 50‒80% of the reported core length intervals, expect for drill holes MDE-11-01, MDE-12-20, MDE-12-56, MDW-11-17 and MDW-11-19, where the true widths are estimated to be 20-50%.
    2. Metal Factor = gold grade multiplied by core length

    Maps & Images (click to enlarge)

    Regional Overview Geology
    Detour-Fenelon Gold Trend Map
  • Current Program
  • Brief History

    Gold on the Martinière project was discovered in 1997 by Cyprus Canada Inc. Their drilling program of 8 holes intersected three separate auriferous horizons. In 1998, the property was acquired by International Taurus Resources Inc. (merged with American Bonanza in 2004) and in 1999 and 2000, they completed 21 drill holes totaling 3,807 metres. The highlight of the 2000 drill program was an intercept of 14.40 g/t Au over 4.20 m from the Central Zone. Results indicated that the higher-grade gold mineralization was contained in veins and shoots, similar in nature to the high-grade gold mineralization on the Fenelon Gold project.

    American Bonanza’s drilling program during 2006-07 (22 holes) expanded the extent of known gold mineralization in the West and Central Zones and led to the discovery of the Martinière East Zone (Hole MD07-20 intersected 2.30 g/t Au over 28.40 m). This was the most easterly drill hole on the property at the time and indicated the potential for bulk tonnage gold zones. American Bonanza sold the property to Balmoral Resources Ltd. (“Balmoral”) in 2010 without completing any further work.

    Balmoral completed several phases of drilling from 2011 to 2017 totaling 133,852 metres in 519 diamond drill holes which have outlined two major gold bearing trends - the Martinière West and Bug Lake shear zones - as well as several high-grade gold occurrences outside these trends. An initial mineral resource estimate was published in March 2018.

  • Geology and Mineralization

    The Sunday Lake Deformation Zone (“SLDZ”), a major regional east-west fault structure which can be traced across Ontario and Québec for over 150 kilometres, crosses the southern margin of the Martinière project. Mafic volcanic rocks dominate and generally strike to the north-northeast and dip moderately to the southeast. 

    The most important structure on the project is the north-northwest trending Bug Lake Fault Zone (“BLFZ”) that hosts the Bug deposit. The BLFZ is expressed by a fine-grained, quartz porphyry unit which is flanked by zones of strong brecciation and local shearing, moderate to intense silica flooding and sericite alteration. Gold mineralization, typically in association with fine-grained pyrite, occurs throughout the silica flooded alteration zones surrounding the porphyry and in sub-parallel structures and vein zones developed in the hanging wall and footwall to the BLFZ. 

    The high-grade gold mineralization (> 3 g/t gold) of the Bug deposit is associated within zones of increased pyrite mineralization, quartz veining and minor gold mineralization within the most intensely altered and deformed portions of the trend. Broad lower grade halos typically surround the higher grade gold mineralization over metres to tens of metres. The mineralized system has been traced for ~1.8 kilometres and to vertical depths of over 700 metres and the system remains open to depth. Gold mineralization occurs in several discrete zones which collectively span widths of 30 to over 120 metres centered around the BLFZ. 

    The other prominent gold bearing trend which hosts the Martinière West deposit is the northeast striking Martinière West Shear Zone (“MWSZ”). It transects the southern portion of a multi-phase gabbro intrusion and is interpreted as a splay originating out of the SLDZ. The MWSZ is stratigraphically concordant, 200-300-metre wide and defined by weak deformation fabric, localized silicification and veining, as well as 1-5% disseminated pyrite. It is oriented at an angle of ~60 degrees to the BLFZ.

    The Martinière West deposit comprises a series of steep, subparallel, mineralized subzones within the MWSZ. Shear zones and individual veins range from 0.1-10 metres and 1-40 centimetres wide respectively. Gold mineralization is associated with broad zones of sericite alteration cored by zones of silica-sulphide veining and flooding. The highest gold grades are most commonly associated with abundant pyrite, lesser arsenopyrite with minor base metal bearing sulphides. The style and multi-sulphide metal association of the MWSZ is distinct from that associated with the BLFZ, suggesting the presence within the broader system of at least two, discrete, gold-bearing fluids which have both produced high grade gold mineralization. 

    The Martinière West deposit has been defined over a strike length of 400 metre by 3 to 15 metres wide zone of sulphide-associated gold mineralization to vertical depths of 325 metres and remains open to depth. 
     

    Table 1. Martinière Highlight Drill Results (> 100 Metal Factor) from 2011-2017 Drilling by Balmoral Resources

    Hole ID

    From (m)

    To (m)

    Length (m)

    Au (g/t)

    Metal Factor (1)

    MDE-14-143

    88.30

    116.40

    28.00

    170.70

    4785

    MDE-12-29

    166.00

    173.80

    7.80

    117.30

    913

    MDE-15-166

    118.80

    163.20

    44.50

    18.10

    806

    MDE-15-170

    105.50

    116.40

    10.90

    21.90

    240

    MDW-13-88

    97.30

    123.30

    26.00

    9.10

    237

    MDE-12-39

    35.60

    36.50

    1.00

    195.50

    190

    MDW-11-04

    80.30

    100.70

    20.40

    8.80

    180

    MDE-14-145

    59.00

    138.20

    79.20

    2.20

    176

    MDW-11-17

    52.50

    74.00

    21.50

    7.80

    167

    MDE-12-60

    172.40

    174.80

    2.40

    67.60

    165

    MDE-13-122A

    186.60

    192.80

    6.20

    26.40

    164

    MDE-16-205

    202.20

    204.50

    2.30

    67.90

    157

    MDW-11-01

    106.00

    118.00

    12.00

    12.90

    155

    MDE-15-173

    119.10

    141.60

    22.50

    6.90

    154

    MDE-12-72

    25.70

    32.50

    6.70

    22.60

    152

    MDE-12-65

    60.60

    80.30

    19.70

    7.70

    151

    MDE-15-175A

    172.00

    187.70

    15.80

    9.00

    142

    MDE-12-56

    106.00

    107.00

    1.00

    138.00

    138

    MDE-16-242A

    162.20

    240.40

    78.20

    1.60

    127

    MDE-15-184

    74.90

    83.40

    8.50

    14.70

    125

    MDW-11-19

    135.50

    164.10

    28.60

    4.20

    121

    MDE-15-168

    199.40

    210.40

    11.00

    10.90

    120

    MDE-16-221

    110.90

    137.80

    26.90

    4.40

    118

    MDE-14-143

    395.30

    402.80

    7.50

    15.50

    116

    MDE-16-218

    148.70

    189.00

    40.30

    2.80

    112

    MDE-12-20

    41.00

    50.30

    9.30

    11.30

    105

    MDE-12-83

    18.10

    27.00

    8.90

    11.70

    105

    MDE-11-01

    57.00

    75.60

    18.60

    5.60

    104

    MDW-11-24a

    120.70

    124.40

    3.70

    27.50

    103

    MDE-16-216

    206.40

    231.50

    25.10

    4.10

    103

    MDW-11-22

    67.50

    68.90

    1.40

    74.50

    101

    MDW-11-30

    142.00

    144.30

    2.30

    43.40

    101

    MDE-14-147

    288.30

    296.30

    8.00

    12.50

    100

    Note:

    1. True widths are estimated to be 50‒80% of the reported core length intervals, expect for drill holes MDE-11-01, MDE-12-20, MDE-12-56, MDW-11-17 and MDW-11-19, where the true widths are estimated to be 20-50%.
    2. Metal Factor = gold grade multiplied by core length

    Maps & Images (click to enlarge)

    Regional Overview Geology
  • Mineral Resource Estimate

    Balmoral reported a mineral resource estimate for the Martinière project in March 2018, which was prepared by Ginto Consulting Inc. (Vancouver, BC). The resource estimate included separate estimates for the Bug and Martinière West gold deposits.

    These “Resources” are historical in nature and should not be relied upon. The qualified persons of the March 2021 Technical Report have not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although they comply with current NI 43-101 requirements and follow CIM Definition Standards, they are included in this section for illustrative purposes only and the issuer is not treating the historical estimate as current mineral resources.

    Martiniere (effective date of November 9, 2021)

    Martiniere Category Cut-off Grade (g/t Au) Metric Tonnes Grade (Au g/t) Troy Ounces (oz Au) Total Ounces
    Martiniere North Indicated in Pit > 0.40
    UG > 2.40
    137,300
    225,700
    2.81
    3.72
    12,400
    27,000
    39,400
    Inferred in Pit > 0.40
    UG > 2.40
    153,800
    283,400
    2.79
    3.36
    13,800
    30,600
    44,400
    Martiniere West Indicated in Pit > 0.40
    UG > 2.40
    746,300
    208,400
    2.31
    3.20
    55,400
    21,400
    76,800
    Inferred in Pit > 0.40
    UG > 2.40
    52,700
    299,000
    1.15
    3.79
    1,900
    36,400
    38,300
    Horsefly Indicated in Pit > 0.40
    UG > 2.40
    -
    31,400
    -
    3.09
    -
    3,100
    3,100
    Inferred in Pit > 0.40
    UG > 2.40
    26,000
    7,000
    2.17
    2.68
    1,800
    600
    2,400
    Bug Lake Indicated in Pit > 0.40
    UG > 2.40
    5,699,400
    492,100
    1.94
    4.39
    355,000
    69,400
    424,400
    Inferred in Pit > 0.40
    UG > 2.40
    1,174,100
    783,200
    1.71
    4.24
    64,400
    106,700
    171,100
    Total Indicated   7,540,600 2.24   543,700
    Total Inferred   2,779,200 2.87   256,200

    Note: Numbers may not add due to rounding

    Notes on the MRE of the Martiniere Project (November 9, 2021):

    1. The Qualified Person for the current MREs is Mr. Carl Pelletier, P. Geo. from InnovExplo.
    2. The MREs follow 2014 CIM Definition Standards and the 2019 CIM MRMR Best Practice Guidelines.
    3. These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
    4. The qualified persons are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue, that could materially affect the potential development of mineral resources other than those discussed in the MRE.
    5. For Martiniere, a density value of 2.80 g/cm3, supported by measurements, was applied to the bedrock. Fifty-nine high-grade zones and one low-grade envelope were modelled in 3D using a minimum true width of 3.0 m. High-grade capping was done on raw assay data and established at 35 g/t Au based on the most numerous zones and extrapolated to all zones. Composites (1.0 m) were calculated within the zones and envelopes using the grade of the adjacent material when assayed or a value of zero when not assayed.
    6. The reasonable prospect for eventual economic extraction is met by having constraining volumes applied to any blocks (potential surface or underground extraction scenario) using Whittle and the Deswik Stope Optimizer (DSO) and by the application of cut-off grades, as shown in the above table, were calculated using a gold price of US $ 1,607 / oz and an Exchange rate of US $ 1.31 / CAD $.
    7. Results are presented in-situ. Ounce (troy) = metric tons x grade / 31.10348. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101.
  • Technical Report
  • Maps and Sections

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