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Wallbridge intersects 5.07 g/t Au over 100.6m in Tabasco-Cayenne Zones

Nov 19, 2020

Wallbridge Mining continues to identify large gold intercepts at Fenelon. The company says assay results from the ongoing 100,000-metre 2020 drilling program on its 100%-owned Fenelon Gold Property continue to establish the high-grade core of the Tabasco-Cayenne shear system with good gold grades over widths consistently measured in the tens of metres. This high-grade core forms a central portion of the larger shear corridor which has so far been drilled over a strike length of 800 metres and a vertical depth of 1,000 metres.

Fenelon Gold System In-fill and Expansion Drilling

The results from drill hole FA-20-181 reported today, fill in a large drilling gap in the core of the Tabasco-Cayenne zones and provide a strong, wide intersection with a much higher “metal factor” (grade multiplied by width = 510-gram metres of gold) than the nearest drill holes 40 to 60 metres away (see Figs. 12 and 3):

FA-20-181 5.07 g/t Au (4.20 g/t Au Cut) over 100.6 metres, including

 6.32 g/t Au over 35.10 metreswhich further includes 16.26 g/t Au over 7.65 metres in the Tabasco Zone; and

 29.03 g/t Au (17.03 g/t Au Cut) over 7.30 metres in the Cayenne Zone

“This intersection lines up well with the interpreted plunge of the high-metal factor domain and along with similar previous intersections, such as 4.84 g/t Au over 56.00 metres in FA-20-128 and 4.06 g/t Au over 51.70 metres in FA-20-134. We are beginning to outline a large area of good gold grades over tens of metres of true thickness including several higher grade shear zones indicating good optionality for future underground production scenarios, stated Attila Péntek, Vice President Exploration of Wallbridge.

Before intercepting the Tabasco and Cayenne Zones the drill holes pass through the Area 51 vein network located immediately to the south of Tabasco-Cayenne. Highlight intersections from Area 51 veins in these holes are as follows:

FA-20-1812.69 g/t Au over 9.00 metres in the Titan Zone

 92.60 g/t Au over 1.00 metre in the Laika Zone, and

 1.33 g/t Au over 52.80 metres, including 6.87 g/t Au over 3.30 metres in the Andromeda Zone (see Figs. 2 and 4);

FA-20-18511.88 g/t Au over 3.00 metres in the Enterprise Zone (see Figs. 2 and 3);

In-fill and expansion drill results continue to define the Fenelon Gold System in preparation for a maiden resource estimate anticipated for the third quarter of 2021, whereas exploration results are demonstrating the connection of the Fenelon Gold System to the Sunday Lake Deformation Zone.

Assay results of seven drill holes and wedge cuts of the Fenelon Gold System in-fill and expansion drilling are released today, representing a total of approximately 5,200 metres.

Fenelon Exploration Drilling

Results of the initial exploration drill program testing the connection of the Fenelon Gold System to the Ripley-Reaper area and the Sunday Lake Deformation Zone are also released today, representing approximately 10,000 metres .

Thus far, the initial 13 holes drilled, have demonstrated Area 51-style mineralization with visible gold-bearing quartz-sulfide veining hosted by the Jeremie Diorite and surrounding sedimentary rocks throughout the approximately 800 by 500 metre area tested and consist of wide, low-grade zones containing higher grade veins, such as 0.80 g/t Au over 22.90 metres (including 10.74 g/t Au over 0.75 metres and 16.74 g/t Au over 0.75 metresin FA-20-183, 0.65 g/t Au over 25.50 metres and2.64 g/t Au over 6.00 metres in FA-20-187 and 1.56 g/t Au over 8.65 metres in FA-20-172 (see Fig 2).

Further drilling, especially at greater depth and along strike is required to test for higher grade Area 51-style mineralization and the potential extension of Tabasco-Cayenne-style high-grade shear zones into this large area between the currently known footprint of the Fenelon Gold System and the Sunday Lake Deformation Zone.

2020-2021 Drilling Program Update

To October 31, 2020, approximately 85,500 metres of the planned 100,000-metre 2020 drilling program have been completed at Fenelon. Currently, five of seven drill rigs are targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization), carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. Two drill rigs are actively exploring the connection of the Fenelon Gold System to the Ripley-Reaper area and the Sunday Lake Deformation Zone, as well as the extensions of the Tabasco-Cayenne corridor to the west.

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