Wallbridge Reports Strong Intersections from its Fenelon Definition and Expansion Drilling

Wallbridge Mining Company Limited has announced that new assay results from the definition drilling program on the Fenelon Gold Property continue to confirm the high “metal factor” continuity of the Tabasco-Cayenne shear system. The results reported today include a wide intersection of 3.48 g/t Au over 54.00 metres in FA-20-197 from the western part of the gold system, with higher grade sub-intervals of 8.91 g/t Au over 5.60 metres, 11.80 g/t Au over 2.25 metres, and 14.53 g/t Au over 2.90 metres.

Fenelon Gold System, Tabasco/Cayenne Zone Definition Drilling 

Definition drilling to a 50-60 metre nominal spacing continues to outline the high metal factor core of the Tabasco-Cayenne shear system, which forms part of the larger shear corridor and has thus far been drilled over a strike length of 800 metres to a vertical depth of 1,000 metres. The high metal factor domain is measured in the tens of metres, as also highlighted by the recent intersection of 5.07 g/t Au over 100.60 metres in hole FA-20-181 (see Wallbridge Press Release dated November 19, 2020). As the holes approach the Tabasco-Cayenne zones, they also transect the Area 51 gold vein network.

“The robust assay results released today from the western part of the known gold system continue to demonstrate significant gold endowment and good continuities in Tabasco-Cayenne and Area 51, and provide us with crucial information on the relationship between these zones,” stated Attila Péntek, Vice President Exploration of Wallbridge. “In this western part of the gold system, the Tabasco and Cayenne Zones come closer to each other and upon entering the Jeremie Diorite, transitions from shear zone-hosted to Area 51 vein network-style mineralization.” 

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

 FA-20-1973.48 g/t Au over 54.00 metres, including 8.91 g/t Au over 5.60 metres, 11.80 g/t Au over 2.25 metres, and 14.53 g/t Au over 2.90 metres in the Tabasco Zone, and 3.24 g/t Au over 11.75 metres in the Cayenne Zone 

 FA-20-158  3.07 g/t Au over 7.00 metres and 10.38 g/t Au over 3.00 metres in a transition from Tabasco Zone to Area 51 

 FA-20-17711.15 g/t Au over 3.60 metres in the Cayenne Zone 

  This drill hole had to be terminated prematurely, only 5 metres past this intersection, due to mechanical issues and therefore did not entirely cross the Tabasco-Cayenne mineralized horizon.  

 FA-20-188 37.45 g/t Au over 2.60 metres in the Cayenne Zone 

 FA-20-1932.59 g/t Au over 18.80 metres, including 21.45 g/t Au over 1.95 metres in a transition from Area 51 to Tabasco Zone 

Area 51 Intersections from the Tabasco/Cayenne Definition Drill Holes

As the Tabasco/Cayenne definition drill holes approach the Tabasco/Cayenne shear system, they pass through the Area 51 vein network, which is characterized by wide mineralized zones consisting of a number of higher grade veins hosted mainly in the Jeremie Diorite and underlying sediments.

Highlight intersections from Area 51 from the holes reported today include:

 FA-20-1978.17 g/t Au over 3.75 metres 

 FA-20-1881.49 g/t Au over 72.50 metres, including 67.20 g/t Au over 0.50 metre, and 3.98 g/t Au over 7.50 metres,

 FA-20-1931.13 g/t Au over 77.35 metres, including  13.62 g/t Au over 4.25 metres 

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