17:34:21 EST Sat 07 Dec 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 445,353,874
Close 2019-06-21 C$ 0.335
Recent Sedar Documents

Wallbridge drills 2.33 m of 16.66 g/t Au at Fenelon

2019-06-24 10:21 ET - News Release

Mr. Marz Kord reports

WALLBRIDGE RESOURCE DRILLING CONTINUES TO INTERSECT HIGH-GRADE GOLD AT FENELON PROPERTY

Wallbridge Mining Company Ltd. is continuing to receive high-grade gold assays from the continuing resource drill program at its 100-per-cent-owned Fenelon gold property.

Drilling in Fenelon's Main Gabbro area continues to successfully follow high-grade shoots, particularly in the Naga Viper and Cayenne zones in proximity and below the existing underground workings. Since the last press release (see Wallbridge press release dated May 21, 2019), 7,500 metres of resource drilling has been completed and assay results from 13 resource drill holes have been received, with drilling results highlights as follows:

  • 19-0970-001: 64.69 grams per tonne (g/t) gold over 0.50 metre (0.45 metre estimated true width) in the Naga Viper zone;
  • 19-1035-003: 16.66 g/t gold over 2.33 metres (2.12 metre estimated true width) in the Naga Viper zone;
  • 18-1035-019: 14.67 g/t gold over one metre (0.70 metre estimated true width) in the Habanero zone;
  • 19-0985-003: 17.93 g/t gold over 0.65 metre (0.50 metre estimated true width) in the Naga Viper zone.

Highlights:

  • The Naga Viper zone continues to be intersected in all underground drill holes targeting the Main Gabbro, with the occurrence of visible gold noted in several of the holes. Assays are currently pending for three of these visible gold-bearing intervals.
  • Visible gold was also observed in several intersections of the Cayenne zone, just south of the Main Gabbro. Assays are currently pending for two of these intervals.

"These extensions of high-grade shoots in the Naga Viper zone have good potential for adding resources in the vicinity of the existing mine workings, which will be important in the first phase of commercial gold production at Fenelon," stated Attila Pentek, vice-president of exploration for Wallbridge.

One underground drill rig is currently active on tightly spaced resource drilling, completing 15-metre to 30-metre stepouts on known mineralization within the Main Gabbro down to 350 metres depth, below the area where the company completed the 2018/2019 bulk sample. In addition to the resource expansion program, over 13,000 metres of exploration drilling have been completed in 2019 and these results will be announced in separate press releases from the resource drilling results. Assays are pending for 25 resource drill holes, including five with visible gold; results from the 13 underground drill holes of the 2019 resource drill program and one 2018 drill hole received to date are reported in the attached table, as well as on the company website.

                     WALLBRIDGE FENELON GOLD PROPERTY 2018/2019 DRILL ASSAY HIGHLIGHTS 

Drill hole         From         To     Length  True width          Au    Au capped    Visible            Zone
                     (m)        (m)        (m)         (m)       (g/t)        (g/t)      gold   

18-1035-019       91.00      92.00       1.00        0.70       14.67        14.67                   Habanero
19-1035-003       93.67      96.00       2.33        2.12       16.66        16.66                 Naga Viper
19-0925-003       49.70      51.69       1.99        1.98        1.48         1.48                 Naga Viper
19-0925-005                                                                   No assays greater than 1 g/t Au
19-0940-001                                                                   No assays greater than 1 g/t Au
19-0940-002                                                                   No assays greater than 1 g/t Au
19-0955-001       54.66      57.00       2.34        2.32        1.44         1.44                 Naga Viper
19-0955-002        9.00      10.30       1.30        1.07        1.42         1.42                    Cayenne
19-0955-002       27.80      28.20       0.40        0.33        6.80         6.80         VG         Cayenne
19-0955-003                                                                   No assays greater than 1 g/t Au
19-0955-004                                                                   No assays greater than 1 g/t Au
19-0970-001       80.25      80.75       0.50        0.45       64.69        64.69         VG      Naga Viper
19-0970-003                                                                   No assays greater than 1 g/t Au
19-0985-003      101.15     101.80       0.65       17.93       17.93                              Naga Viper

Fenelon is located in northwestern Quebec, proximal to the Sunday Lake deformation zone (SLDZ), which hosts the Detour gold mine in Ontario, and Balmoral Resources' gold deposits at Martiniere. Secondary splays of the SLDZ transect the property over two-kilometre to four-kilometre strike lengths and have controlled the emplacement of a significant gold system along the Jeremie pluton and within a mafic-ultramafic sill referred to as the Main Gabbro.

Since acquiring the property in late 2016, Wallbridge has completed an updated resource estimate and a positive prefeasibility study on the resource that existed in the Main Gabbro prior to any drilling by the company. Wallbridge has undertaken successful surface exploration drilling campaigns in 2017, 2018 and 2019 and has recently completed an underground 35,000-tonne bulk sample at Fenelon. Drilling to date has significantly extended existing zones, located additional parallel zones and discovered a new gold system associated to the Jeremie pluton referred to as Area 51.

Drill core samples from the continuing drill program at Fenelon were cut and bagged on site and transported to SGS Canada Inc. Samples, along with standards, blanks and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada laboratories. Samples are crushed to 90 per cent less than two millimetres. A one-kilogram riffle split is pulverized to over 95 per cent passing 106 microns. Fifty-gram samples are analyzed by fire assay and AAS. Samples over 10 g/t gold 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 reanalysis for quality assurance and quality control.

The qualified persons responsible for the technical content of this press release are Marz Kord, professional engineer, master of science, master of business administration, president and chief executive officer, and Attila Pentek, professional geoscientist, doctor of philosophy, vice-president of exploration for Wallbridge.

About Wallbridge Mining Company Ltd.

Wallbridge is establishing a pipeline of projects that will support sustainable production and revenue, as well as organic growth through exploration and scalability.

Wallbridge is currently developing its 100-per-cent-owned high-grade Fenelon gold property in Quebec, with continuing exploration and a recently completed 35,000-tonne bulk sample. Wallbridge is also pursuing additional advanced-stage projects, which would add to the company's near-term project pipeline. Wallbridge is also continuing partner-financed exploration on its large portfolio of nickel, copper and platinum group metal projects in Sudbury, Ont., with a focus on its high-grade Parkin project.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.