Wallbridge Expands Gold Mineralization at Martiniere, with 3.68 g/t Au over 22.50 metres

Wallbridge Mining Company Limited has announced that the resource expansion drill program on its Martiniere gold property, testing the depth and along strike extensions of known zones at Martiniere has intersected significant mineralization. This new mineralization is outside of the previously known mineralized envelope and will not be included in the upcoming updated mineral resource estimate currently underway. Due to the success of the ongoing 10,000-metre Phase 1 program, a more substantial drill program will be reviewed for 2022.

Since the start of our drilling program in July at Martiniere, 12 holes totaling approximately 8,000 metres have been completed.

Highlights of assay results received to date include:

 MDE-21-3263.68 g/t Au over 22.50 metres, including

   6.45 g/t Au over 5.00 metres

  in the extension of the Bug Lake North shoot, approximately 100 metres down-plunge of the previously known extent (see Figs. 2, 3, 4, and 5);

    

 MDE-21-328 2.21 g/t Au over 36.60 metres, including

   14.15 g/t Au over 3.10 metres, and

   10.18 g/t Au over 2.00 metres

  50 metres south-west of the Bug Lake Porphyry, approximately 140 metres vertically undercutting the historic intersections of the Bug Lake South zone (see Figs. 2, 3, 4, and 6);

    

 MDE-21-3303.83 g/t Au over 10.50 metres, including

   6.84 g/t Au over 4.60 metres

  in the extension of the Bug Lake South shoot, approximately 150 metres down-plunge from the previous historic intersection and 230 m to the southeast of MDE-21-328, reported today, with the area in between remaining open (see Figs. 2, 3, 4, and 7);

Assays for four of the 12 holes completed to date have been received. Final assay results are available for MDE-21-326 to MDE-21-328 and MDE-21-330, while only partial results have so far been received for MDE-21-329.

“Our initial drilling has confirmed that Martiniere has excellent potential to become the Company’s second gold asset that can, in the near term, be brought to a meaningful resource size,” stated Marz Kord, President & CEO of Wallbridge. “Additional drilling is needed to assess the ultimate size potential of the Martiniere Gold System through expansion of the known footprint. In addition, there are numerous high-quality targets with discovery potential throughout the property that we are eager to test in future drill programs.” 

Martiniere Drill Program Underway

As announced previously (see Wallbridge News Release dated July 22, 2021), Wallbridge mobilized a drill rig at the end of July to Martiniere to commence an approximately 10,000-metre Phase 1 drill program. To date, approximately 8,000 metres in 12 drill holes have been completed as part of this program.

The Phase 1 drill program is focusing on the following objectives:

1)near-surface targets to extend known mineralized zones along strike with the objective of increasing the open pit constrained portion of the mineral resource (see Fig. 3);

2)targets at depth to follow known high-grade shoots to expand the underground, high-grade resource potential (see Fig. 4);

3)high-priority geological-geophysical targets and isolated historical gold intersections property-wide to discover new mineralized gold zones (see Fig. 2).

So far, all of the drilling has been within the known 2.0 by 1.8-kilometre footprint of the Martiniere Gold System, testing various targets related to objectives 1 and 2. These objectives will continue to be the focus for the remainder of the 2021 drill program. Seasonal drilling logistics are being evaluated for the feasibility of also testing some of the high priority property-wide targets (objective 3) this year, or postponing those to the Spring of 2022.

Visual results of the 12 drill holes completed so far have been very encouraging, with mineralization typical to the Martiniere Gold System intersected in the majority of drill holes, including two holes filling in an otherwise untested area linking the Martiniere West and Martiniere Central Zones. Three of the first four drill holes have returned significant, >40 metal factor (metal factor = Au grade multiplied by thickness) intersections.

Assay results of 4 drill holes of the 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” of the Martiniere Project page. Assay results from an additional 8 drill holes are currently pending and will be announced once they are available.

About the Martiniere Gold Property

Martiniere is located within Wallbridge’s 910 km2 Detour-Fenelon Gold Trend land package, which extends over 97 kilometres in an East-West direction along the Sunday Lake Deformation Zone (“SLDZ”), a major structure that controlled the emplacement of Kirkland Lake’s Detour Lake deposit, 45 kilometres west of Martiniere, and the Company’s Fenelon Gold System, located 30 kilometres to the east of Martiniere

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