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Wallbridge hits 24.61 g/t gold over 15m at Fenelon, more results coming

Aug 11, 2020

The flagship player in the emerging Fenelon Gold camp east of the Detour Lake Gold Mine released an impressive set of drill results this morning. 

Wallbridge Mining has announced an intersection of 24.61 g/t Au over 15.00 metres from its Lower Cayenne Zone. The Fenelon Gold-district results indicate the company is expanding the high-grade domain of this zone by 260 metres down-dip to a vertical depth of 825 metres.

The Company today reports partial assay results of two surface drill holes (FA-20-143 and -148), which are part of the Company’s ongoing, fully-funded 100,000-metre 2020 drill program at its 100%-owned Fenelon Gold Property (“Fenelon” or the “Property”). Further assay results from these drill holes from intervals transecting Area 51 gold mineralization are pending and will be released separately.


Lower Cayenne high-grade domain expanded and showing excellent potential for growth:

FA-20-14824.61 g/t Au (22.55 g/t Au cut) over 15.00 metres, including 71.37 g/t Au (61.04 g/t Au cut) over 3.00 metres and 29.38 g/t Au over 5.00 metres

 This intersection 260 metres vertically below the previously released 17.58 g/t Au over 11.04 metres in hole FA-19-059 (see Figs. 12 and 3).

“This impressive gold intersection in hole FA-20-148 demonstrates that Tabasco-style wide, high-grade domains are also present in the Lower Cayenne Shear Zone,” stated Attila Péntek, Vice President Exploration of Wallbridge. “Being 260 metres below another strong intersection of Lower Cayenne in hole FA-19-059, it opens up another parallel structure at depth for high-grade resource growth potential. At a vertical depth of 825 metres, this is also the deepest intersection of high-grade and high (>200) metal factor gold mineralization so far at Fenelon.”

Note: Metal factor refers to the gold grade multiplied by core length in metres (Au g/t*metres)

2020 Drilling Program Update

As announced previously, exploration activities at Fenelon were temporarily suspended from March 23 to mid-May, 2020 due to COVID-19 restrictions. The program has been gradually restarted in close consultation with the local communities ensuring the safety of all stakeholders.

Currently, four of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original Fenelon Gold Property, carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. The Company estimates approximately 80,000 metres of drilling will be completed as part of this program by year-end, with approximately 46,000 metres completed to date.

The other two drill rigs are active on the newly-acquired portion of Fenelon to follow-up on the Reaper and Ripley gold discoveries made in 2019 and 2020 by Balmoral Resources Ltd. (“Balmoral”), and to test the extensions of the Tabasco-Cayenne-Area 51 gold system onto this adjacent ground. Wallbridge is planning to complete approximately 20,000 metres of drilling in 2020 on the newly-acquired ground, with over 9,000 metres completed to date.

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