Wallbridge continues successful expansion and definition of high-grade shoots at Fenelon

“The wide, near-surface intersections in Area 51, consistently yielding 1 to 2 g/t gold average grades, will be very important in building a robust, potentially bulk mineable resource in this part of the deposit. Higher grade intersections, like that intersected in hole FA-21-269, will enhance the larger Area 51 near-surface resource base,” said Marz Kord, President & CEO of Wallbridge. 

Wallbridge Mining Company Limited  has announced additional assay results from its current drilling program on the Fenelon Gold Property. Expansion drilling continues to reveal additional bulk mineable, near-surface mineralized corridors in the western part of Area 51, while definition drilling continues to define steep, high metal factor (gold grade multiplied by thickness) gold shoots within the Tabasco-Cayenne Zones (see 181-, 134- and 086- shoots on Fig. 1).

Drilling is currently focusing on multiple areas, within the approximately 1.0 km by 1.2 km central portion of the Fenelon Gold System, to expand and better define the mineralization in support of the maiden mineral resource estimate (“MMRE”). Over 200,000 metres of drilling will be incorporated into the MMRE.

Highlight results from these various areas, released today, include:

• Area 51, Near Surface Expansion Drilling:

23.70 g/t Au over 24.90 metres in FA-21-269 (see Figs. 2 and 3);

• Tabasco-Cayenne-Contact Zone, Definition Drilling:

6.83 g/t Au over 15.00 metres in FA-21-247 (see Figs. 1, 2 and 6), and
6.61 g/t Au over 11.35 metres in FA-21-261 (see Figs. 1 and 2);

• Area 51, Definition Drilling (near surface down to around 300 m vertical depth - potential open pit resource):

1.97 g/t Au over 38.50 metres in FA-21-264A-W1 (see Figs. 2 and 5), and
1.02 g/t Au over 33.70 metres in FA-21-247 (see Figs. 2 and 6);
91.80 g/t Au over 0.50 metres in FA-21-248 (see Figs. 2 and 3);

• Area 51, Definition Drilling (below 300 m depth):

15.37 g/t Au over 3.25 metres in FA-21-257 (see Figs. 2 and 3);

Marz Kord further added: “The Tabasco intersections in holes FA-21-247 and FA-21-261 released today are important in confirming the presence and geometry of steep gold-rich shoots within the central 600 metre strike length of the Tabasco Zone which has seen the most drilling to date. The ongoing definition drilling and geological modelling has been increasing our understanding of this deposit, as we work towards our maiden resource. It is also revealing the controls on high-grade gold deposition in this gold system and will continue to drive our exploration as we further test the extensions of these zones.”

Area 51 Expansion Drill Results 

In recent months, drilling has also been focusing on expanding the known footprint of near-surface gold mineralization in the western-southwestern portion of Area 51 in order to grow the open pit resource potential.

Today’s results include:

 FA-21-26923.70 g/t Au over 24.90 metres, including

   3.79 g/t Au over 5.20 metres, and

   196.29 g/t Au over 2.90 metres at a vertical depth of 70 metres (see Figs. 2 and 3);

Tabasco-Cayenne-Contact Zones, Definition Drill Results

Definition and expansion drilling at a nominal 75-metre drill spacing, targeting the Tabasco-Cayenne-Contact Zones over a strike length of approximately 800 metres and vertical depths between 300 and 1,000 metres has been the primary focus of this campaign (see Figs. 1 and 2) to better define the geometry and grade of the zones and gain information on the structural controls of the gold mineralization.

 FA-21-2476.83 g/t Au over 15.00 metres, including

   20.19 g/t Au over 4.10 metres in the Tabasco Zone (see Figs. 1, 2 and 6);

    

 FA-21-2616.61 g/t Au over 11.35 metres, including

   18.09 g/t Au over 3.85 metres in the Tabasco Zone (see Figs. 1 and 2);

Area 51 Definition Drill Results

As our drill holes approach Tabasco-Cayenne, they also transect the Area 51 gold vein network, providing important information from all of these zones.

Near surface highlights from Area 51 zones from the holes reported today include:

 FA-21-264A-W11.97 g/t Au over 38.50 metres, including

   8.49 g/t Au over 4.45 metres at a vertical depth of 260-290 metres (see Figs. 2 and 5);

    

 FA-21-2471.02 g/t Au over 33.70 metres, which includes

   5.31 g/t Au over 4.00 metres, and

  1.26 g/t Au over 13.50 metres, included within a larger interval of 0.89 g/t Au over 59.00 metres at a vertical depth of 230-290 metres (see Figs. 2 and 6);

    

 FA-21-24891.80 g/t Au over 0.50 metres at a vertical depth of 150 metres (see Figs. 2 and 3);

  Note: Further assays near this interval pending.

Highlight intersections of Area 51 zones from below 300 m vertical depth reported today include:

 FA-21-25715.37 g/t Au over 3.25 metres (see Figs. 2 and 3);

In-fill Sampling Program Results

A systematic campaign of continuous in-fill sampling of historic drill holes down to a vertical depth of 250 metres is underway in order to collect further information for the open pit constrained portion of the MMRE.

Assay results from the historic drilling in-fill sampling program are highlighted by:

 FAB-11-352.66 g/t Au over 5.55 metres in the Cayenne Zone (see Fig. 1);

  Note: This composite includes historically sampled, as well as new assay results.

2020-2021 Drilling Program Update

In 2021, the Company is planning to complete approximately 170,000 metres of drilling, approximately 10-15% of which will be devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

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