Wallbridge reports wide Intersections from definition drilling at Fenelon

Wallbridge Mining has announced new results from its definition drill program at the Fenelon Gold Property, with strong gold intersections that continue to confirm the grade and geometry of the central portions of the Tabasco-Cayenne and Area 51 Zones, in support of the maiden mineral resource estimate planned for Q3 2021.

Fenelon Gold System, Tabasco-Cayenne Definition Drill Results 

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

 FA-20-134-W23.61 g/t Au over 63.90 metres in the Tabasco Zones, including

   6.00 g/t Au over 4.10 metres, and

   6.87 g/t Au over 16.75 metres in the Area 51 to Tabasco transition, and

   7.24 g/t Au over 12.10 metres in the Tabasco Zone;

  5.42 g/t Au over 5.85 metres in the Cayenne Zone (see Figs. 1 and 4);

 FA-20-134-W125.66 g/t Au over 3.90 metres in the Tabasco Zone (see Figs. 1 and 3);

 FA-20-1903.58 g/t Au over 28.15 metres, including

   6.49 g/t Au over 6.55 metres in the Tabasco Zone;

  7.39 g/t Au over 5.90 metres in the Cayenne Zone (see Figs. 1 and 5);

 FA-19-094-W16.88 g/t Au over 6.75 metres in the Cayenne Zone (see Fig. 6);

“Definition drilling in the central portions of the known Fenelon Gold System consistently shows good predictability of the zones and provides the tighter spaced information required for the upcoming maiden mineral resource estimate,” stated Attila Péntek, Vice President Exploration of Wallbridge. “Definition drilling to date in the Tabasco/Cayenne zones has demonstrated tens of metres wide shear zones with variable grades made up of high-grade domains (6 to 40 grams per tonne), mid-grade domains (3 to 6 grams per tonne) and low-grade domains (1 to 3 grams per tonne). What differentiates the Tabasco/Cayenne shear zones are their exceptional thicknesses measured in tens of metres in most areas, making the average grade of the zones suitable for a bulk mineable resource”.

The results of the definition drilling program presented in this release continue to outline the high metal factor (grade multiplied by core length) domain of the Tabasco-Cayenne Zones, which forms part of the larger gold mineralized corridor and has thus far been drilled over a strike length of 800 metres to a vertical depth of 1,000 metres.

Fenelon Gold System, Area 51 Definition Drill Results 

As the holes approach Tabasco-Cayenne, they also transect the Area 51 gold vein network, thereby allowing information from all of these zones to be considered when computing the maiden 2021 mineral resource estimate.

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

 FA-19-094-W23.77 g/t Au over 12.60 metres in the Interstellar Zone, included within a large mineralized envelope of 1.04 g/t Au over 166.00 metres (see Fig. 6);

 FA-19-094-W34.68 g/t Au over 12.20 metres in the Andromeda Zone, and

  4.11 g/t Au over 7.60 metres in the Interstellar Zone, included within a large mineralized envelope of 1.02 g/t Au over 179.35 metres (see Fig. 6);

 FA-20-148-W12.04 g/t Au over 23.50 metres in the Andromeda Zones (see Fig. 7);

 FA-20-148-W1-W13.10 g/t Au over 10.90 metres in the Andromeda Zones, included within a large mineralized envelope of 1.51 g/t Au over 49.00 metres(see Fig. 7);

 FA-20-148-W1-W1-W15.46 g/t Au over 3.00 metres in the Andromeda Zones, included within a large mineralized envelope of 1.08 g/t Au over 44.50 metres, as well as

  3.03 g/t Au over 9.45 metres, and

  11.83 g/t Au over 2.00 metres in the Interstellar Zone (see Fig. 7).

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 metre 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 km2 Detour-Fenelon Gold Trend land package later in the year.

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