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Fenelon goes deep for Wallbridge

Mar 25, 2021

Wallbridge Mining Company Limited has announced that its first deep exploration hole on the Fenelon Gold Property has intersected 17.23 g/t Au over 4.00 metres extending the known mineralization by 400 metres to a depth of 1.6 km.

“This was our first ever deep drill hole testing the mineralization at depths of between 1.5-1.8 km below surface, 400 to 700 metres deeper than any previous hole on the Property. We are very encouraged by these results,” stated Attila Péntek, Vice President Exploration of Wallbridge.

“Not only did we confirm the presence of the Jeremie Diorite, one of our main gold-hosting environments, but we also intersected high-grade gold-bearing mineralization that is notably similar to the Area 51 gold vein network higher up in the system, significantly expanding the footprint of the mineralized system at Fenelon. We are looking forward to following-up these initial results with further deep holes later this year that will aim to connect this mineralization back up to the known portion of Area 51 and also test the Tabasco-Cayenne horizon, which due to early termination of the drillhole remains untested.” 

Fenelon Gold System, Depth Extension 

Drill hole FA-20-120A was designed to test the Fenelon Gold System at a depth of between 1.5 and 1.8 kilometres, over 500 metres below the deepest extent of past drilling. Drilling of the hole was suspended last March due to the COVID shutdown and resumed in January of this year, when winter conditions allowed, through a wedge cut FA-20-120A-W1 (see Wallbridge Press Release dated February 17, 2021). Assay results as follows:

FA-20-120A-W117.23 g/t Au over 4.00 metres, including

  65.08 g/t Au over 1.00 metres; and

 8.70 g/t Au over 0.70 metres, and

 5.76 g/t Au over 1.00 metres (see Figs. 1 and 2);

Additional assay results from this hole are still pending and will be released as soon as they become available. The Company is planning to complete several directional wedges around hole FA-20-120 later this year to assess the significance of the intersected gold mineralization. These will also test the presence of Tabasco-Cayenne-style mineralization along the northern Jeremie Diorite contact as noted above.

2020-2021 Drilling Program Update

In 2021, the Company is planning to complete approximately 170,000 metres of drilling; a maiden mineral resource estimate at Fenelon is anticipated in the third quarter (see Wallbridge Press Release dated January 11, 2021). Approximately 10-15% 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, the Company has nine drill rigs operating at Fenelon. In the coming months, seven drill rigs will be targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization) to approximately 1,000 metres vertical depth, carrying out a combination of definition and expansion drilling at a nominal 75-metre drill spacing. Two drill rigs have been focusing on near-surface, open pit resource drilling in the western portion of Area 51. Additional drills may be devoted to Fenelon resource expansion, and regional grassroots exploration at various projects on the Company’s 900 km2 Detour-Fenelon Gold Trend land package later in the year.

Assay results of one drill hole of the 2020/2021 exploration drill program are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.

Figures accompanying this announcement are available at 

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