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Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 586,997,997
Close 2020-03-20 C$ 0.46
Recent Sedar Documents

Wallbridge drills 10.15 m of 19.47 g/t Au at Fenelon

2020-03-23 06:37 ET - News Release

Mr. Attila Pentek reports

WALLBRIDGE INTERSECTS 19.47 G/T AU OVER 10.15 METRES CONTINUING SUCCESSFUL DEFINITION WITHIN THE MAIN GABBRO

Wallbridge Mining Company Ltd. continues to successfully define high-grade gold mineralization at shallow depths adjacent to the existing mine workings within the Main Gabbro area on its 100-per-cent-owned Fenelon gold property. This mineralization can be readily accessed from the existing mine workings and could provide material for early-stage production.

Main Gabbro definition drilling results

Results from the continuing definition drill program proximal to existing mine workings in the Main Gabbro announced today include 19.47 grams per tonne gold over 10.15 metres in hole 19-1035-022, 6.09 g/t Au over 21.05 metres in hole 19-1035-025 as well as 17.33 g/t Au over 9.30 metres in hole 19-0985-013.

"Although most of the focus in the last few months has been on our exploration success and rapid growth of the Fenelon gold system, we are also seeing excellent results in our definition drill program near the existing mine workings, outlining gold ounces that will become important in the early stage of any future production scenario," stated Attila Pentek, vice-president, exploration, of Wallbridge.

Highlights:

  • 19-1035-019A: 5.93 grams per tonne gold over 20.76 metres in the Chipotle, Anaheim and Naga Viper zones, including 11.89 g/t Au over 6.65 metres in the Naga Viper zone;
  • 19-1035-020: 2.44 g/t Au over 20.45 metres in the Chipotle, Anaheim and Naga Viper zones, including 6.77 g/t Au over 5.75 metres in the Chipotle zone;
  • 19-1035-022: 21.30 g/t Au (19.47 g/t Au cut) over 10.15 metres in the Chipotle and Anaheim zones, including 155.50 g/t Au over 1.20 metres in the Anaheim zone;
  • 19-1035-023: 9.68 g/t Au over 7.70 metres in the Chipotle and Anaheim zones;
  • 19-1035-024: 22.95 g/t Au over 4.35 metres in the Chipotle zone;
  • 19-1035-025: 11.36 g/t Au over 10.10 metres in the Chipotle zone and 6.09 g/t Au over 21.05 metres, including 34.71 g/t Au over 3.10 metres in the Naga Viper zone;
  • 19-1110-014: 17.33 g/t Au over 9.30 metres in the Serrano zone;
  • 19-1110-016: 3.04 g/t Au over 7.86 metres in the Serrano zone;
  • 19-1150-003: 3.56 g/t Au over 5.00 metres in the Serrano zone;
  • 20-5150-019: 5.57 g/t Au over 5.00 metres in the Naga Viper zone.

Covid-19 control measures

Wallbridge takes the health and safety of its work force very seriously and has implemented numerous new health procedures and increased the frequency of those already in place in order to reduce the risk of Covid-19.

"As we continue to operate the Fenelon camp to support the 2020 diamond drilling program and progress permitting activities, we must adapt to the new reality that Covid-19 has imposed upon us," stated Francois Demers, vice-president, mining and projects of Wallbridge Mining. "We have taken action and put measures in place to protect our employees and contractors at site and continue to monitor the situation closely."

The company will continue to monitor the situation and adapt as necessary.

2019/2020 drill program

Six drill rigs are currently active on the property: Five are focusing on exploration drilling from surface, doing large-spaced stepouts to define the footprint of the Fenelon gold system, and one underground drill rig is doing more closely spaced definition drilling of the Main Gabbro zones near the existing mine workings. A total of 75,000 metres were drilled in 2019 and the program is continuing in 2020 with the same drilling rate of approximately 9,000 metres per month for a projected total of 100,000 to 120,000 metres for the year. So far, a total of approximately 24,000 metres have been drilled in 2020.

Assay results of 37 underground holes of the 2019/2020 exploration drill program are reported in the associated table. All figures and a table with drill hole information of recently completed holes can be found on the company website.

            WALLBRIDGE FENELON GOLD PROPERTY 2019/2020 DRILL ASSAY HIGHLIGHTS (1) 
                
Drill hole           From          To        From          To      Length          Au  Au cut (2)
                      (m)         (m)         (m)         (m)         (m)       (g/t)       (g/t)

19-1035-018          0.00        0.85                                0.85       36.90       36.90
19-1035-019A         0.94       21.70                               20.76        5.93        5.93
19-1035-019A                including        0.94        1.44        0.50       76.50       76.50
19-1035-019A                      and       15.05       21.70        6.65       11.89       11.89
19-1035-020          0.40       21.85                               20.45        2.44        2.44
19-1035-020                 including        0.40        6.15        5.75        6.77        6.77
19-1035-022          0.50       10.65                               10.15       21.30       19.47
19-1035-022                 including        0.50        2.90        2.40       11.65       11.65
19-1035-022                       and        9.45       10.65        1.20      155.50      140.00
19-1035-023          0.00        7.70                                7.70        9.68        9.68
19-1035-023                 including        0.00        0.90        0.90       27.10       27.10
19-1035-023                       and        6.95        7.70        0.75       65.90       65.90
19-1035-024          2.85        7.20                                4.35       22.95       22.95
19-1035-025          3.65       13.10                               10.10       11.36       11.36
19-1035-025                 including        3.65        4.25        0.60       55.30       55.30
19-1035-025         37.15       58.20                               21.05        6.09        6.09
19-1035-025                 including       55.10       58.20        3.10       34.71       34.71
19-1110-013         46.16       61.24                               15.08        0.99        0.99
19-1110-014         52.20       61.50                                9.30       17.33       17.33
19-1110-014                 including       55.20       59.39        4.19       35.79       35.79
19-1110-015         52.54       63.89                               11.35        1.05        1.05
19-1110-016         54.00       61.86                                7.86        3.04        3.04
19-1110-016                 including       58.66       61.86        3.20        6.24        6.24
19-1150-003         27.65       32.65                                5.00        3.56        3.56
19-1150-004                                                         no significant mineralization
19-1150-005                                                         no significant mineralization
19-1150-006                                                         no significant mineralization
19-1160-001                                                         no significant mineralization
19-1160-002                                                         no significant mineralization
19-1160-003                                                         no significant mineralization
20-1165-001                                                         no significant mineralization
20-1165-002                                                         no significant mineralization
20-1165-003                                                         no significant mineralization
20-5150-011                                                         no significant mineralization
20-5150-012                                                         no significant mineralization
20-5150-013                                                         no significant mineralization
20-5150-014                                                         no significant mineralization
20-5150-015                                                         no significant mineralization
20-5150-016         43.40       46.10                                2.70        2.07        2.07
20-5150-017                                                         no significant mineralization
20-5150-018         44.25       46.50                                2.25        2.47        2.47
20-5150-019         41.00       46.00                                5.00        5.57        5.57
20-5150-020                                                         no significant mineralization
20-5150-021                                                         no significant mineralization
20-5150-023                                                         no significant mineralization
20-5150-024         55.50       56.40                                1.30        9.28        9.28
20-5150-025         54.65       58.20                                3.55        1.91        1.91
20-5150-026                                                         no significant mineralization
20-5150-029                                                         no significant mineralization

(1) Table includes only highlight assay results received since the latest press release.   
(2) Au cut at 140 g/t following InnovExplo's 2016 mineral resource estimate.
* Metal factor of at least five g/t times m and minimum weighted average composite grade of one 
g/t Au.
Note: True widths are estimated to be 50 to 80 per cent of the reported core length intervals.         

About the Fenelon gold property

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 glacial cover.

At Fenelon, secondary splays of the Sunday Lake deformation zone have controlled the emplacement of a significant gold system along and within the Jeremie pluton. Historically, exploration has focused on high-grade shear zones hosted in the Main gabbro, and this is where Wallbridge completed a bulk sample of 33,500 tonnes grading 18.49 g/t gold.

In late 2018, exploration drilling discovered a new geologic setting with extensive vein- and shear-hosted gold mineralization along and within the pluton, naming it Area 51. The 75,000-metre 2019 drill program has proved the connectivity of Area 51 through the sediment-hosted Tabasco and Cayenne zones to the Main gabbro, and has significantly expanded the footprint and depth extent of the Fenelon gold system. The continuing, fully financed 100,000- to 120,000-metre 2020 drill program is aiming to further define the size potential of the deposit and complete infill drilling in support of a maiden National Instrument 43-101 resource estimate.

Assay quality assurance and quality control and qualified person

Drill core samples from the continuing drill program at Fenelon are cut and bagged either on site or by contractors, and transported to either SGS Canada Inc. or ALS Canada Ltd for analysis. Samples, along with standards, blanks and duplicates included for quality assurance and quality control, were prepared and analyzed at SGS Canada or ALS Canada laboratories. Samples are crushed to 90 per cent or 95 per cent less than two millimetres. A one-kilogram riffle split is pulverized to greater than 95 per cent passing 106 microns or 85 per cent passing 75 microns. Fifty-gram samples are analyzed by fire assay and AAS. At SGS, 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 person responsible for the technical content of this press release is Evan Slater, PGeo, MSc, senior project geologist, of Wallbridge.

About Wallbridge Mining Company Ltd.

Wallbridge is establishing a pipeline of projects that will support sustainable 100,000-ounce-plus annual gold production, as well as organic growth through exploration and scalability.

The company is currently developing its 100-per-cent-owned Fenelon gold property, which is located proximal to the Sunday Lake deformation zone, an emerging gold belt in northwestern Quebec with a continuing 100,000- to 120,000-metre exploration drill program in 2020 and a 33,500-tonne bulk sample and 75,000 metres of drilling completed in 2019. Wallbridge is also pursuing additional advanced-stage projects, which would add to the company's near-term project pipeline. Wallbridge is also the operator of, and a 20-per-cent shareholder in, Loncan Canada Inc., a privately held company with a large portfolio of nickel, copper and platinum group metal projects in Ontario's Sudbury basin.

We seek Safe Harbor.

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