Mr. Marz Kord reports
WALLBRIDGE INTERSECTS 2.55 G/T GOLD OVER 20.01 METRES CONFIRMING CONTINUITY OF GOLD-BEARING STRUCTURE AT BESCHEFER
Wallbridge Mining Company Ltd. has provided positive results from its initial drill program at the recently optioned Beschefer gold property in Quebec.
The majority of assays from the company's first drill program at the Beschefer project, consisting of five drill holes for a total of approximately 1,600 metres, have now been received.
- All holes intersected significant gold mineralization in the B-14 shear zone, proving excellent geological continuity of this gold-bearing structure:
BE-18-048: 2.55 grams per tonne gold over 20.01 metres, including 3.47 g/t gold over 10.28 metres and 5.90 g/t gold over 2.16 metres;
BE-18-049: 0.93 g/t gold over 20.25 metres, including 2.05 g/t gold over 5.17 metres;
BE-18-050: 1.28 g/t gold over 8.15 metres;
BE-18-051: 3.40 g/t gold over 2.29 metres;
BE-18-052: 1.45 g/t gold over 6.42 metres and 0.84 g/t gold over 10.20 metres.
Drill hole BE-18-049 also intersected a narrow, high-grade shear zone above the B-14, assaying 20.22 g/t Au over 0.50 metre. Further sampling of secondary shear zones above the B-14 is currently under way.
"We are pleased with the assay results of our initial drill program confirming the presence of a very continuous, up to 20 m wide, gold-bearing structure," stated Attila Pentek, vice-president, exploration, of Wallbridge. "Even though we did not intersect high-grade domains in this structure like some of the historic drilling, we certainly achieved our goal of proving the continuity and predictability of the B-14 structure. As a next step, we are working on an updated 3-D geological model of the project to better understand the controls on gold deposition and are planning a more substantial drill program to outline the high-grade domains and establish an initial resource."
About the Beschefer project
The Beschefer project covers 647 hectares and is located in the Northern Abitibi greenstone belt, 14 kilometres east of the past-producing polymetallic Selbaie mine, 45 km northeast of the Casa Berardi mine and 28 km from Wallbridge's Fenelon gold property. Historically, the area has mainly been explored for volcanogenic massive sulphide deposits similar to the Matagami camp and the Selbaie mine.
Gold mineralization was discovered in the B-14 zone in 1995 by Billiton Canada Inc. but the property saw very limited exploration before the involvement of Excellon between 2011 and 2013. Excellon completed approximately 17,000 metres of drilling, extending the B-14 mineralization down to almost 600-metre vertical depth, discovering the upper shear zone and intersecting the highest-grade intersections on the property, including 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres. Excellon's primary focus is on production and exploration at its Platosa mine and Miguel Auza property in Mexico. Up to Wallbridge's current program there has been no exploration at Beschefer since 2013.
Wallbridge entered into an option agreement to acquire 100 per cent of Beschefer as part of its strategy of building a gold production pipeline in the emerging Sunday Lake-Selbaie belt (see Wallbridge press release dated Oct. 17, 2018).
A summary of the 2018 drill hole results is reported in the attached table.
WALLBRIDGE BESCHEFER PROPERTY 2018 SURFACE DRILL ASSAY HIGHLIGHTS
Drill hole From To From To Length True width Au
(m) (m) (m) (m) (m) (m) (g/t) Zone
BE18-048 203.62 223.63 20.01 19.57 2.55 B-14
Incl. 203.62 213.9 10.28 10.05 3.47 B-14
Which incl. 204.86 205.97 1.11 1.09 14.33 B-14
And 221.47 223.63 2.16 2.12 5.90 B-14
BE-18-049 170.39 170.89 0.50 0.49 20.22 new zone
BE-18-049 202.88 223.13 20.25 19.97 0.93 B-14
Incl. 202.88 208.05 5.17 5.10 2.05 B-14
BE-18-050 314.85 323.00 8.15 8.15 1.28 B-14
BE-18-051 319.88 322.17 2.29 2.27 3.40 B-14
BE-18-052 320.65 327.07 6.42 6.05 1.45 B-14
BE-18-052 340.29 350.49 10.20 9.61 0.84 B-14
The qualified persons responsible for the technical content of this press release are Marz Kord, PEng, MSc, MBA, president and chief executive officer, and Attila Pentek, PGeo, PhD, vice-president, exploration, for Wallbridge Mining.
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 35,000-tonne bulk sample. Wallbridge is also pursuing additional advanced-stage projects which would add to the company's near-term project pipeline. These discussions benefit from the operating capabilities Wallbridge demonstrated by safely and efficiently mining the Broken Hammer deposit in Sudbury, which was completed in October, 2015.
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