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Wallbridge identifies further growth potential for Martiniere Gold Resources

Oct 12, 2022

“The results reported today reveal the presence of gold mineralization several hundred metres east of the current mineral resource footprint," Attila Péntek, Wallbridge’s Vice President, Exploration said. 

"This is important because it opens up a new direction for future exploration and resource expansion at Martiniere. 

"These new mineralized zones are associated with porphyritic intrusive rocks, similar to the Bug Lake Porphyry, one of the main controls on gold mineralization at Martiniere.”

Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce that assay results from one of the final holes of its 2022 drill program at the Martiniere Gold Project (“Martiniere” or the “Project”) continue to demonstrate excellent resource growth potential.

Martiniere is located 30 kilometres and within trucking distance of the Company’s flagship Fenelon gold project (“Fenelon”) and 45 kilometres east of the Detour Lake gold mine on the highly prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec. The 2021-2022 drilling program was primarily designed to establish connections between the Martiniere West and Bug Lake Trends (see Figure 1) and also included several exploration holes, drilling larger-spaced step-outs on the gold-bearing trends and zones. The results announced today come from such an exploration hole, MR-22-036, testing the eastern extent of the gold system. Assay results from the last two exploration drill holes of the 2022 program are pending.

All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at https://wallbridgemining.com/our-projects/martiniere/.

The 2021-2022 Drill Program at Martiniere 

Following an initial drill program of 9,380 metres in 2021, the Company has completed 21,400 metres of additional drilling at Martiniere this year. The results from this program, which now includes more than 30,000 metres of drilling by the Company, will provide significant new data for an updated mineral resource estimate (“MRE”) at Martiniere scheduled for the first quarter of 2023.

Highlights of the 2021 drill program, as reported in the Company’s press releases dated October 26, 2021 and February 2, 2022, include 3.68 g/t Au over 22.50 metres in MDE-21-326 (Bug Lake North), 2.21 g/t Au over 36.60 metres in MDE-21-328 (Bug Lake South) and 46.76 g/t Au over 2.40 metres in MDE-21-338 (Martiniere Central).

Highlights of the 2022 drill program were reported in the Company’s press release dated August 30, 2022 and include 12.27 g/t Au over 5.60 metres in hole MR-22-026, extending the Martiniere West zone along strike by over 400 metres to the southwest; 4.75 g/t Au over 5.50 metres in hole MR-22-020, expanding the Martiniere West zone down-plunge by over 300 metres; and 2.50 g/t Au over 17.35 metres, near-surface in hole MR-22-029 in the area between the Martiniere West and Central zones.    

About the Martiniere Gold Property 

Martiniere currently contains 544,000 ounces of indicated gold resources and 256,000 ounces of inferred gold resources within a large, mineralized footprint of four-square kilometres. The deposit has only been meaningfully drilled to a maximum vertical depth of 400 metres and mineralized shoots remain open down-plunge.

In August, the Company signed a landmark Pre-Development Agreement with its Cree Nation Partners, who have agreed to support and cooperate on Wallbridge’s activities on the Detour-Fenelon Gold Trend.

Tags: Quebec / Exploration / Gold / All Articles