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Wallbridge Mining Company Ltd
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Close 2019-08-15 C$ 0.425
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Wallbridge adds two more drills at Fenelon

2019-08-15 07:48 ET - News Release

Mr. Marz Kord reports


Wallbridge Mining Company Ltd. it plans to increase the number of drills to six from four at its 100-per-cent-owned Fenelon gold property. A fifth drill arrived on site yesterday and a sixth drill will be mobilized in the coming weeks. The additional drills will enable Wallbridge to accelerate and increase its 2019 exploration program in the Main gabbro and Area 51 zones.

Over 35,000 total metres have been drilled to date in 2019. The revised program, with six drills operating, will be on track to complete 70,000 to 80,000 metres by the end of the year. Five rigs (four surface, one underground) will be active on exploration drilling, doing large-spaced stepouts to define the footprint of the Fenelon gold system and one underground drill rig will continue testing the Naga Viper, Cayenne and Tabasco zones near the existing mine workings.

Assay results are pending for 23 surface drill holes and eight underground holes, including 25 intervals with visible gold. With widespread gold mineralization over hundreds of metres, especially in Area 51, the processing, sampling and assaying of the drill holes takes considerable time. Wallbridge will continue to report meaningful, complete composites once all assay results from each hole are received.

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-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.

The qualified persons responsible for the technical content of this press release are Marz Kord, PEng, MSc, MBA, president and chief executive officer, and Dr. 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 recently completed 35,000-tonne bulk sample.

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