In 2021, Wallbridge completed its first drill program of 9,400 metres at the nearby Martiniere Property. The program demonstrated the resource potential of the property and began to establish a connection between the Martiniere West and Bug Lake Trends.

The deposit is currently separated into multiple isolated zones with very little drilling in between, resulting in several smaller open pits in the 2021 Mineral Resource Estimate. Drilling in 2022 will focus on connecting these zones to form a more continuous orebody that can support a more optimal open pit configuration. In addition, both the Martiniere West and the Bug Lake Trends are open along strike and drilling is limited below 400 metres of vertical depth. Lateral and depth extensions of the known zones will be targeted in the 2022 drill program.  

Approximately 40,000 metres of the Company’s planned drilling in 2022 (total of approximately 150-167,000 m) will be allocated to Martiniere. 

Maps & Images (click to enlarge)

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.

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

Note:

1. True widths are estimated to be 50-80% of reported core length intervals, except for holes MDE-11-01, MDE-12-20, MDE-12-56, MDW-11-17 and MDW-11- 19, where 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

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 January 13, 2023)

Notes on the MRE of the Martiniere Project (January 13, 2023):

1. The independent and qualified persons for the current Detour-Fenelon Gold Trend 2023 MRE are Carl Pelletier, P.Geo.,Vincent Nadeau-Benoit, P.Geo., Simon Boudreau, P.Eng. and Marc R, Beauvais, P.Eng., of InnovExplo Inc. The Detour-Fenelon Gold Trend 2023 MRE follows 2014 CIM Definition Standards and 2019 CIM MRMR Best Practice Guidelines. The effective date of the Detour-Fenelon Gold Trend 2023 MRE is January 13, 2023.
2. These mineral resources are not mineral reserves as they do not have demonstrated economic viability.
3. The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, sociopolitical or marketing issues, or any other relevant issue, that could materially affect the potential development of mineral resources other than those discussed in the Detour-Fenelon Gold Trend 2023 MRE.
4. For Fenelon, 112 high-grade zones and seven (7) low-grade envelopes were modelled in 3D to the true thickness of the mineralization. Supported by measurements, a density value of 2.80 g/cm³ was applied to the blocks inside the high-grade zones, and 2.81 g/cm³ was applied to the blocks inside the low-grade envelopes. High-grade capping was done on raw assay data and established on a per-zone basis and ranges between 25 g/t and 100 g/t Au for the high-grade zones (except for the high-grade zones Chipotle and Cayenne 3 a high-grade capping values of 330 g/t Au was applied) and ranges between 4 g/t and 10 g/t Au for the low-grade envelopes. 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. A minimum mining width of 2 metres was used for underground stope optimization.
5. For Martiniere, 75 high-grade zones and nine (9) low-grade envelopes were modelled in 3D to the true thickness of the mineralization. Supported by measurements, a density value of 2.83 g/cm³ was applied to the blocks inside the high-grade zones (except for the high-grade zones associated with massive sulfide intersections where a value of 3.00 g/cm³ was applied), and 2.81 g/cm³ was applied to the blocks inside the low-grade envelopes. High-grade capping was done on raw assay data and established on a per-zone basis and ranges between 25 g/t and 100 g/t Au for the high-grade zones and ranges between 1 g/t and 6 g/t Au for the low-grade envelopes. 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. A minimum mining width of 2 metres was used for underground stope optimization.
6. The criterion of reasonable prospects for eventual economic extraction has been met by having constraining volumes applied to any blocks (potential surface and underground extraction scenario) using Whittle and DSO and by the application of cut-off grades. The cut-off grade for the Fenelon deposit was calculated using a gold price of US$1,600 per ounce; a CA/US exchange rate of 1.30; a refining cost of $5.00/t; a processing cost of $18.15/t; a mining cost of $5.50/t (bedrock) or $2.15/t (overburden) for the surface portion, a mining cost of $65.00/t for the underground portion and a G&A cost of $9.20/t. Values of metallurgical recovery of 95.0% and royalty of 4.0% were applied during the cut-off grade calculation. The cut-off grade for the Martiniere deposit was calculated using a gold price of US$1,600 per ounce; a CA/US exchange rate of 1.30; a refining cost of $5.00/t; a processing cost of $18.15/t; a mining cost of $4.55/t (bedrock) or $2.15/t (overburden) for the surface portion, a mining cost of $118.80/t for the underground portion using the long-hole mining method (LH), a mining cost of $130.70/t for the underground portion using the cut and fill mining method (C & F), a G&A cost of $9.20/t and a transport to process cost of $6.50/t. Values of metallurgical recovery of 96.0% and royalty of 2.0% were applied during the cut-off grade calculation. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rate, mining cost, etc.).
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.