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Wallbridge extends Fenelon's Tabasco-Cayenne Zones with wide intersection

Mar 22, 2021

Wallbridge Mining has announce a significant wide intersection from a newly-discovered depth extension of the Tabasco-Cayenne Zones at the Fenelon Gold Property, expanding strong gold mineralization to a vertical depth of 1,000 metres. Drill hole FA-20-203 intersected 3.71 g/t Au over 42.50 metresincluding 6.11 g/t Au over 19.50 metres in the recently discovered eastern high metal factor domain of the Tabasco-Cayenne zones (see Wallbridge Press Release dated February 17, 2021), approximately 100 metres below a previous intersection of 4.16 g/t Au over 35.55 metres in hole FA-19-099.

Fenelon Gold System, Tabasco-Cayenne Expansion Drill Results 

Highlight intersections from the expansion drilling in the Tabasco-Cayenne Zones include:

   FA-20-203         3.71 g/t Au over 42.50 metres in the Tabasco Zones, including

                  6.11 g/t Au over 19.50 metres, and

                  2.95 g/t Au over 11.00 metres in the Tabasco Zones:

    6.04 g/t Au over 4.70 metres in the Cayenne Zone (see Figs. 1 and 3);


“This newly discovered eastern portion of the Tabasco-Cayenne Zones is showing similar characteristics to the western high metal factor domain, with tens of metres of wide intersections in the 3 to 5 g/t gold range with higher-grade subintervals of several metres in width,” said Attila Péntek, Vice President Exploration of Wallbridge. “While it is still early days in the understanding and definition of this new, eastern domain, we are certainly encouraged by the potential for expansion of this portion of the Tabasco-Cayenne Zones.”

Additionally, drill hole FA-21-223A was just completed with assays pending. This hole is approximately 150 metres to the east of hole FA-20-203 (see Fig. 1) and has intersected strong sulfide mineralization within the Main Gabbro, along the edge of the Jeremie Diorite, thereby demonstrating further significant expansion potential in this eastern portion of the Tabasco-Cayenne zones. Follow-up drilling is planned in this eastern high metal factor domain in order to be included in the maiden mineral resource estimate targeted for Q3 2021.

2021 Drilling Program Update

In 2021, the Company is planning to complete approximately 170,000 metres of drilling with a maiden mineral resource estimate at Fenelon 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 eight drill rigs operating at Fenelon and is planning to add a ninth rig this week. 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 will be devoted to regional, grassroots exploration at various projects on the Company’s 900 km2Detour-Fenelon Gold Trend land package later in the year.

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