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Wallbridge Mining Company Ltd
Symbol WM
Shares Issued 788,635,216
Close 2021-01-12 C$ 0.79
Recent Sedar Documents

Wallbridge drills 31.34 m of 9.26 g/t Au at Fenelon

2021-01-13 07:40 ET - News Release

Mr. Marz Kord reports

WALLBRIDGE'S INFILL WEDGE DRILLING RESULTS AVERAGE 9.26 G AU/T OVER 31.34 METRES IN TABASCO SHEAR ZONE

Wallbridge Mining Company Ltd. has released the remaining assay results from the five wedge cuts drilled around FA-19-086 that continue to delineate the high metal factor (grade multiplied by core length) domains in Tabasco-Cayenne shear zones. As expected, the results of the FA-19-086 wedge cuts confirm a wide shear zone with good geological continuity and highly variable gold grades. The average grade and width for the original hole and the five wedge cuts, which tested a 75-by-75-metre area surrounding the original hole at approximately 25- to 40-metre spacing, returned:

  • 9.26 grams per tonne gold (8.22 g/t Au cut) over 31.34 metres.

Note

Drill hole composites reported as cut contain higher-grade samples that have been cut to 140 g/t Au.

"Highly variable grade is a characteristic of these types of gold deposits, and we expected a wide range of grades in these wedge cuts. What is most important from a mining point of view is the geological continuity of the structure and the average grade of the zone," stated Attila Pentek, vice-president, exploration, of Wallbridge.

"The five wedge cuts completed around hole FA-19-086 show good geological continuities with consistent shear zone thicknesses of greater than 20 m core length, four of the six intersections being above 3.0 g/t Au and overall average of 9.26 g/t Au over 31.34 metres. We continue to derisk the project with tightly spaced wedge drilling in other selected areas as outlined in [an image on the company's website], while we also complete infill drilling at larger (50 to 60 m) spacings elsewhere within our large Tabasco-Cayenne shear system."

Results of the first wedge cut (FA-19-086-W1) were previously announced (see Wallbridge press release dated Oct. 19, 2020) and the remaining four wedge cuts are reported here.

     COMPARISON OF THE MAIN TABASCO ZONE INTERSECTIONS IN HOLE FA-19-086 
     AND THE SURROUNDING FIVE WEDGE CUTS WITHIN 25-TO-40-METRE DISTANCE

Drill hole               Au        Au cut      Length       Press release date
                      (g/t)         (g/t)         (m)

FA-19-086             22.73         18.87       48.01             Dec. 3, 2019
FA-19-086-W1           9.06          8.82       40.05            Oct. 19, 2020
FA-19-086-W2           1.73          1.73       26.00             this release
FA-19-086-W3           3.11          3.11       21.55             this release
FA-19-086-W4           1.62          1.62       26.00             this release
FA-19-086-W5           5.00          5.00       26.40             this release
average                9.26          8.22       31.34

Note 
Drill hole composites reported as cut contain higher-grade samples that have 
been cut to 140 g/t Au.
 
 

Similar wedge drilling programs have been completed, with assays pending, to test the continuity in other high metal factor domains within the Tabasco-Cayenne shear zones.

Infill drilling to a 50-to-60-metre nominal spacing continues to outline the high-grade core of the Tabasco-Cayenne shear system, which forms part of the larger shear corridor and has thus far been drilled over a strike length of 800 metres to a vertical depth of 1,000 metres. The high metal factor domain is characterized by intersections of good gold grades over significant widths, consistently measured in the tens of metres, as highlighted also by the recent intersection of 5.07 g/t Au over 100.60 metres in hole FA-20-181 (see Wallbridge press release dated Nov. 19, 2020).

2020/2021 drilling program update

In 2020, Wallbridge completed approximately 102,000 metres of exploration and resource drilling at Fenelon, achieving its 2020 target despite the temporary suspension of activities in the spring due to the COVID-19 pandemic. For the majority of the year, six drill rigs were running and a seventh drill was mobilized to the project at the end of November.

In 2021, the company is planning to complete approximately 170,000 metres of drilling, with a maiden resource estimate at Fenelon anticipated in the third quarter (see Wallbridge press release dated Jan. 11, 2021). Approximately 10 to 15 per cent of the drilling program will be devoted to regional exploration on the company's district-scale, underexplored land package on the Detour-Fenelon gold trend.

Currently, drilling is ramping up and by the end of January the company will have nine drill rigs turning. Six drill rigs are targeting the Fenelon gold system (Tabasco-Cayenne-Area 51 mineralization) to approximately 1,000-metre vertical depth, carrying out a combination of 75-to-100-metre stepouts and tighter-spaced (50 to 60 metres) infill drilling. An additional two drill rigs will be focusing on near-surface, open-pit resource drilling in the western portion of Area 51. One additional drill rig will be devoted to regional, grassroots exploration at various projects of the company's Detour-Fenelon gold trend land package.

Final assay results for four of the five wedge cuts of the 2020 exploration drill program are reported in the associated table, with FA-19-086-W5 pending infill samples that were added after the initial sampling of the hole.

                 WALLBRIDGE FENELON GOLD PROPERTY 2020 DRILL ASSAY HIGHLIGHTS (1) 

Drill hole                 From              To          Length              Au       Au cut-off (2)
                            (m)             (m)             (m)           (g/t)                (g/t)

FA-19-086-W1             477.50          492.00           14.50            1.27                 1.27
including                485.00          492.00            7.00            2.11                 2.11
FA-19-086-W2             481.80          488.70            6.90            4.21                 4.21
including                483.45          484.05            0.60           18.85                18.85
and                      487.70          488.70            1.00           11.40                11.40
FA-19-086-W2             512.50          515.00            2.50            9.50                 9.50
including                513.20          514.10            0.90           22.30                22.30
FA-19-086-W2             527.30          528.30            1.00            7.56                 7.56
FA-19-086-W2             634.00          660.00           26.00            1.73                 1.73
including                647.90          652.00            4.10            6.51                 6.51
FA-19-086-W2             710.50          716.00            5.50            5.63                 5.63
including                712.00          713.00            1.00           25.00                25.00
FA-19-086-W3             477.00          487.00           10.00            2.29                 2.29
including                486.00          487.00            1.00           18.40                18.40
FA-19-086-W3             510.50          521.50           11.00            1.03                 1.03
including                520.50          521.50            1.00            5.91                 5.91
FA-19-086-W3             579.00          603.00           24.00            1.29                 1.29
including                592.00          594.00            2.00            6.78                 6.78
FA-19-086-W3             627.35          648.90           21.55            3.11                 3.11
including                637.05          648.90           11.85            5.16                 5.16
FA-19-086-W4             482.00          497.00           15.00            1.60                 1.60
including                493.00          494.00            1.00           14.00                14.00
FA-19-086-W4             538.50          542.10            3.60            1.76                 1.76
including                538.50          539.50            1.00            5.21                 5.21
FA-19-086-W4             600.00          629.00           29.00            1.45                 1.45
including                603.00          606.60            3.60            5.14                 5.14
and                      609.70          614.00            4.30            1.89                 1.89
and                      628.00          629.00            1.00            7.11                 7.11
FA-19-086-W4             708.40          711.00            2.60            3.95                 3.95
including                709.90          711.00            1.10            6.49                 6.49
FA-19-086-W5             612.00          638.40           26.40            5.00                 5.00
including                622.00          636.50           14.50            8.40                 8.40
which includes           625.80          626.30            0.50          133.50               133.50
FA-19-086-W5             712.50          727.00           14.50            1.24                 1.24
including                721.60          723.60            2.00            2.75                 2.75

(1) Table includes only assay results received since the latest press release dated Dec. 10, 2020.
(2) Au was cut at 140 g/t.
(3) Intervals containing visible gold (VG).
Note: True widths are estimated to be 50 to 80 per cent of the reported core length intervals.

Assay quality assurance/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 over 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 grams per tonne 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 person responsible for the technical content of this press release is Christopher Kelly, PGeo, BSc, project geologist of Wallbridge.

About Wallbridge Mining Company Ltd.

Wallbridge is currently advancing the exploration and development of its 100-per-cent-owned Fenelon gold property, which is located along the Detour-Fenelon gold trend, an emerging gold belt in northwestern Quebec with a continuing, fully financed 100,000-metre exploration drill program in 2020.

We seek Safe Harbor.

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