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Wallbridge continues to produce strong drill results from Fenelon

May 6, 2021

Wallbridge Mining Company Limited has announced that its 2021 definition and expansion drill program on the Fenelon Gold Property continues to confirm the grade and geometry of the central portions of the Tabasco-Cayenne and Area 51 Zones and expand the mineralized footprint.

Drilling is currently focusing on various areas within the approximately 1.0 km by 1.2 km central portion of the Fenelon Gold System, in order to collect additional information to expand and better define the mineralization in support of a maiden mineral resource estimate planned for Q3 2021 (Fig. 2). Highlight results from these various areas, released today, include:

  • Tabasco-Cayenne-Contact Zone, Definition Drilling: 8.57 g/t Au over 10.35 metres in FA-21-226-W1 and 16.67 g/t Au over 4.55 metres in FA-21-221-W4, with surrounding assays pending (see Figs. 14 and 6);
  • Area 51, Definition Drilling (near surface above 250 m vertical depth - potential open pit resource): 3.46 g/t Au over 47.50 metres in FA-21-241 (see Figs. 3 and 5);
  • Area 51, Definition Drilling (below 250 m depth): 284 g/t Au over 0.60 metres in FA-21-226-W1 and 2.09 g/t Au over 24.15 metres in FA-20-215 (see Fig. 5 and 6);
  • Area 51, Near Surface Southwest Expansion Drilling: 34.99 g/t Au over 5.70 metres, including 351.00 g/t Au over 0.55 metres in FA-20-228 (see Fig. 3);

“The results released today are from multiple target areas and contain a mix of the various mineralization types within the Fenelon Gold System,” stated Attila Péntek, Vice President Exploration of Wallbridge. “The Tabasco-Cayenne intersections are filling in larger gaps between previous intersections in the western part of the known extent of these zones and confirm good underground bulk mining potential, whereas Area 51 yields strong intersections of potentially bulk mineable zones both near surface and underground. Our definition drill program at 75-metre drill spacing is progressing well and we are on track to complete this in-fill drilling by the summer, in support of the maiden mineral resource estimate later this year.” 

“In addition, our expansion drill program focusing on growing the known footprint of near surface Area 51 mineralization in support of the open pit component of our 2021 resource estimate has shown good results. Not only have we intersected strong mineralization hosted inside the Jeremie Diorite, but in certain areas the mineralization also extends into the adjacent sedimentary rocks, as exemplified by the high-grade intersection in hole FA-21-228 reported today.”

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