12:57:53 EDT Tue 07 Jul 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 493,069,176
Close 2019-10-08 C$ 0.335
Recent Sedar Documents

Wallbridge drills 5.81 m of 3.08 g/t Au at Fenelon

2019-10-09 07:37 ET - News Release

Mr. Marz Kord reports

WALLBRIDGE DRILLS SIGNIFICANT, WIDE INTERSECTIONS OF THE TABASCO ZONE AT DEPTH AND CONTINUES TO SUCCESSFULLY DELINEATE GOLD ZONES IN AREA 51

Wallbridge Mining Company Ltd. has provided significant new high-grade assays and visual results from the continuing 70,000-to-80,000-metre 2019 drill program, which is continuing to follow up the Area 51 and Tabasco discoveries and outline a large gold system at its 100-per-cent-owned Fenelon gold property.

The new drilling further demonstrates the significance of the Tabasco zone below a vertical depth of 400 metres, where it becomes wider, better endowed and is entirely open along strike and to depth. Good continuities are being shown for several zones in the newly named Andromeda and Orion corridors of Area 51 within the Jeremie pluton and Area 51-style gold-bearing mineralization has also been intersected 800 metres farther along strike to the northwest.

"We are very excited about the two recent intersections of the Tabasco zone in holes FA-19-086 and FA-19-090 where visual results consistent with previously reported assays confirm our modelling and understanding of this zone and reinforcing its importance as one of Fenelon's best-endowed gold zones," stated Marz Kord, president and chief executive officer of Wallbridge Mining. "Drilling to date has also outlined at least three continuous zones in the Andromeda corridor of Area 51, which are also becoming more enriched and wider with depth. We have accelerated the sampling and assaying of some of these significant intervals and will be reporting these assay results as soon as available."

Highlights (since last Wallbridge press release dated Sept. 9, 2019):

Tabasco zone:

  • FA-19-086: a significant, approximately 48-metre core length intersection of the Tabasco zone with abundant sulphide mineralization and visible gold; assay results pending;
  • FA-19-090: a significant, approximately 20-metre core length intersection of the Tabasco zone with sulphide mineralization and visible gold; assay results are pending.

Area 51 -- Andromeda corridor:

  • FA-19-062: 3.08 g/t gold over 5.81 metres, including 16.20 g/t gold over 0.80 metre. This intersection is the updip extension of a zone within the Andromeda corridor which thickens farther below once it enters the Jeremie pluton (3.28 g/t gold over 17.60 metres in FA-19-059);
  • FA-19-070: 2.67 g/t gold over 7.61 metres, including 6.00 g/t gold over 2.55 metres (which further includes 25.49 g/t gold over 0.45 metre). This intersection is the updip extension of a zone within the Andromeda corridor which thickens farther below once it enters the Jeremie pluton (2.43 g/t gold over 42.80 metres, including 5.00 g/t gold over 12.71 metres in FA-19-065);
  • FA-19-073: a network of near-surface gold-bearing veins within the Jeremie pluton grading 1.04 g/t gold over 35.39 metres, which includes the following higher-grade subintervals: 3.26 g/t gold over 5.95 metres (including 41.19 g/t gold over 0.46 metre) and 17.75 g/t gold over 0.40 metre. Other highlights include 4.10 g/t gold over 1.40 metres and 10.43 g/t gold over 0.37 metre;
  • FA-19-086: several mineralized zones, two containing visible gold, over an approximately 200-metre core length in the Area 51, Andromeda corridor;
  • FA-19-090: several mineralized zones over an approximately 230-metre core length in the Area 51, Andromeda corridor;
  • 19-0915-011: several mineralized zones, one containing visible gold, over an approximately 350-metre core length in the Area 51, Andromeda corridor. Assay results are pending;
  • 19-0915-016: several mineralized zones, six containing visible gold, over an approximately 280-metre core length in the Area 51, Andromeda corridor. Assay results are pending.

Area 51 -- Contact zone FA-19-072:

  • 15.98 g/t gold over 2.31 metres along the contact of the Jeremie pluton.

Area 51 -- Orion corridor:

  • FA-19-060: a network of gold-bearing veins within the Jeremie pluton in a newly discovered mineralized corridor over 97 m core length with highlight intersections of 9.27 g/t gold over 1.58 metres and 2.20 g/t gold over 5.40 metres (including 17.76 g/t gold over 0.50 metre);
  • 19-0970-006: several mineralized zones, two containing visible gold, over an approximately 70-metre core length in the Area 51, Orion corridor. Assay results are pending.

Cayenne zone FA-19-072:

  • 12.77 g/t gold over 1.31 metres.

Main gabbro zones:

  • FA-19-072: 3.58 g/t gold over 4.94 metres (including 21.09 g/t gold over 0.65 metre) 14.53 g/t gold over 1.50 metres (including 33.66 g/t gold over 0.62 metre).

Jeremie pluton -- grassroots target:

  • FA-19-089: one Area 51-style shear zone with visible gold and other related, possibly gold-bearing veins 800 metres farther northwest within the Jeremie pluton in a grassroots geological-geophysical target. Assay results are pending.

"The Tabasco zone is showing remarkable continuity and gold endowment at depth and we are now drilling its downdip extension with two drill rigs. Along the way, our holes also intersected strong gold mineralization in the Andromeda corridor of Area 51 and we have now moved one of our underground rigs to infill this mineralized area and better define several distinct, continuous zones. Our other underground rig is now drilling the newly discovered Orion corridor of Area 51 and two surface rigs are testing grassroots targets along strike of the known gold system," stated Attila Pentek, vice-president, exploration, of Wallbridge. "Holes -062, -064, -066, -069 and -070 tested the updip extension of known zones in the sedimentary package near surface and will help model the Area 51, Tabasco and Cayenne zones, which significantly widen at depth once they enter more favourable host rocks."

Of the six drill rigs currently active on the property, four are focusing on exploration drilling from surface, doing large-spaced stepouts to define the footprint of the Fenelon gold system and two underground drill rigs are doing more closely spaced drilling of the Tabasco zones and Area 51 near the existing mine workings. A total of over 50,000 metres have been drilled to date in 2019 and the drill program is on track to complete 70,000 to 80,000 metres by the end of the year.

Assay results are reported in the associated table and the figures on the company's website for nine surface drill holes (total of over 6,000 metres) of the 2019 exploration drill program. Assays are pending for 25 surface drill holes and 58 underground holes, for a total of approximately 30,000 metres. The company's efforts to accelerate the sampling and assaying process has now resulted in faster turnaround time of assay results and we are expecting to release results more regularly.

All figures and a table with drill hole information of recently completed holes can be found on the company website.

              WALLBRIDGE FENELON GOLD PROPERTY 2019 DRILL ASSAY HIGHLIGHTS (1)
                    
Drill hole      From        To     From        To    Length   True width     Au              Au capped
                 (m)       (m)      (m)       (m)       (m)          (m)  (g/t)                  (g/t)

19-0915-001    24.55     24.93                         0.38       NA (4)   5.05                   5.05
FA-19-054     506.85    510.64                         3.79           NA   2.01                   2.01
FA-19-057     169.00    170.36                         1.36           NA   1.12                   1.12
FA-19-060     234.53    234.83                         0.30           NA   2.99                   2.99
FA-19-060     263.40    268.80                         5.40           NA   2.20                   2.20
FA-19-060            including   268.30    268.80      0.50           NA  17.76                  17.76
FA-19-060     271.62    272.32                         0.70           NA   1.92                   1.92
FA-19-060     296.68    298.60                         1.92           NA   2.81                   2.81
FA-19-060     332.10    332.90                         0.80           NA   2.75                   2.75
FA-19-060     359.42    361.00                         1.58           NA   9.27                   9.27
FA-19-062     233.03    238.84                         5.81           NA   3.08                   3.08
FA-19-062            including   238.04    238.84      0.80           NA  16.20                  16.20
FA-19-062     473.41    474.60                         1.19           NA   2.08                   2.08
FA-19-062     515.07    515.60                         0.53           NA   1.43                   1.43
FA-19-063     188.29    192.00                         3.71           NA   1.26                   1.26
FA-19-063     381.44    382.80                         1.36           NA   1.37                   1.37
FA-19-063     387.88    388.94                         1.06           NA   1.13                   1.13
FA-19-064     118.07    118.95                         0.88           NA   1.02                   1.02
FA-19-064     375.30    376.08                         0.78           NA   2.59                   2.59
FA-19-069     125.80    127.00                         1.20           NA   1.06                   1.06
FA-19-069     190.00    191.03                         1.03           NA   3.10                   3.10
FA-19-069     269.07    270.36                         1.29           NA   3.37                   3.37
FA-19-069     277.43    279.45                         2.02           NA   2.58                   2.58
FA-19-069     295.13    295.97                         0.84           NA   1.28                   1.28
FA-19-069     326.16    326.74                         0.58           NA   3.37                   3.37
FA-19-069     332.56    333.26                         0.70           NA   6.16                   6.16
FA-19-069     349.92    351.03                         1.11           NA   1.05                   1.05
FA-19-069     364.18    370.00                         5.82           NA   1.61                   1.61
FA-19-069     398.60    399.85                         1.25           NA   1.08                   1.08
FA-19-069     485.86    486.40                         0.54           NA   1.08                   1.08
FA-19-069     551.10    551.91                         0.81           NA   1.09                   1.09
FA-19-069     556.00    557.38                         1.38           NA   1.65                   1.65
FA-19-069     565.32    569.48                         4.16           NA   1.16                   1.16
FA-19-069            including   569.08    569.48      0.40           NA   5.40                   5.40
FA-19-070      87.22     88.08                         0.86           NA   1.12                   1.12
FA-19-070     119.90    121.31                         1.41           NA   1.24                   1.24
FA-19-070     210.00    211.18                         1.18           NA   3.71                   3.71
FA-19-070     296.63    304.24                         7.61           NA   2.67                   2.67
FA-19-070            including   298.73    299.18      0.45           NA  25.49                  25.49
FA-19-070     330.74    331.51                         0.77           NA   1.06                   1.06
FA-19-070     341.07    346.57                         5.50           NA   0.81                   0.81
FA-19-070     372.00    372.53                         0.53           NA   1.50                   1.50
FA-19-070     377.62    377.95                         0.33           NA   6.44                   6.44
FA-19-070     395.70    396.00                         0.30           NA   1.17                   1.17
FA-19-070     446.66    447.44                         0.78           NA   2.10                   2.10
FA-19-070     548.28    555.77                         7.49           NA   1.71                   1.71
FA-19-070            including   550.09       552      1.91           NA   4.03                   4.03
FA-19-072      75.35     75.70                         0.35           NA  19.00                  19.00
FA-19-072     319.20    319.60                         0.40           NA  14.16                  14.16
FA-19-072     362.53    364.84                         2.31           NA  15.98                  15.98
FA-19-072            including   362.53    363.84      1.31           NA  27.25                  27.25
FA-19-072     441.95    443.37                         1.42           NA   2.06                   2.06
FA-19-072     502.03    502.89                         0.86           NA   2.45                   2.45
FA-19-072     592.36    593.00                         0.64           NA  25.82                  25.82
FA-19-072     633.35    638.29                         4.94           NA   3.58                   3.58
FA-19-072            including   633.35    634.00      0.65           NA  21.09                  21.09
FA-19-072     696.00    697.50                         1.50           NA  14.53                  14.53
FA-19-072            including   696.00    696.62      0.62           NA  33.66                  33.66
FA-19-073      88.61     89.00                         0.39           NA   1.96                   1.96
FA-19-073     107.54    108.00                         0.46           NA  41.19                  41.19
FA-19-073     128.68    142.93                        14.25           NA   1.08                   1.08
FA-19-073            including   128.68    129.08      0.40           NA  17.75                  17.75
FA-19-073     157.33    158.63                         1.30           NA   1.24                   1.24
FA-19-073     219.54    220.25                         0.71           NA   3.65                   3.65
FA-19-073     238.13    238.50                         0.37           NA  10.43                  10.43
FA-19-073     261.63    262.78                         1.15           NA   1.22                   1.22
FA-19-073     278.11    279.00                         0.89           NA   1.13                   1.13
FA-19-073     300.71    302.03                         1.32           NA   4.10                   4.10
FA-19-073     345.63    346.16                         0.53           NA   1.50                   1.50
FA-19-073     354.00    354.40                         0.40           NA   2.04                   2.04
FA-19-073     373.98    374.41                         0.43           NA   3.56                   3.56
FA-19-073     478.14    479.20                         1.06           NA   2.58                   2.58
FA-19-073     525.51    526.60                         1.09           NA   1.22                   1.22
FA-19-073     698.25    699.09                         0.84           NA   1.41                   1.41
FA-19-073     721.36    722.14                         0.78           NA   3.07                   3.07

(1) Table includes only highlight assay results received since the latest press release.
(2) Au capped at 140 g/t following InnovExplo's 2016 mineral resource estimate.         
(3) Intervals containing visible gold (VG).                                           
(4) Currently not enough information available to estimate true width.                  
 

The Fenelon gold property is located proximal to the Sunday Lake deformation zone, an emerging gold belt in northwestern Quebec. This major east-west structure in the northern Abitibi greenstone belt hosts the Detour Lake mine, and is very similar to other breaks controlling world-class gold camps in the southern Abitibi, yet it remains underexplored due to thick overburden cover.

At Fenelon, secondary splays of the Sunday Lake deformation zone have controlled the emplacement of a significant gold system along the Jeremie pluton. Historically, exploration has focused on high-grade shear zones hosted in the main gabbro, and this where Wallbridge has completed a bulk sample of 33,000 tonnes grading 18.49 g/t gold.

In late 2018, exploration drilling discovered a new geologic setting with extensive, vein network gold mineralization within the pluton, naming it Area 51. The continuing 70,000 to 80,000 m drill program is proving the connectivity of Area 51 through the sediment-hosted Tabasco and Cayenne zones to the main gabbro and is continuing to expand the footprint and depth extent of the Fenelon gold system.

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 Inc. laboratories. Samples are crushed to 90 per cent less than two millimetres. A one-kilogram riffle split is pulverized to greater than 95 per cent passing 106 microns. Fifty-gram samples are analyzed by fire assay and AAS. Samples greater than 10 g/t Au 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, PEng, MSc, MBA, president and chief executive officer, and Dr. Attila Pentek, PGeo, PhD, vice-president, exploration, of 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.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.