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Wallbridge Adds Near Surface Mineralization in Area 51 and Extends Tabasco/Cayenne at Depth
Toronto, Ontario – January 12, 2022 – Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced further positive assay results from its resource drilling program on the Fenelon Gold Property (“Fenelon” or the “Property”), located on the highly prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.
Ongoing drilling within the 2021 mineral resource estimate (“MRE”) open pit shell has intersected new, near-surface mineralization grading 2.59 g/t of gold over 57.65 metres in drill hole FA-21-304. Deep resource drilling, below the current extent of the MRE has also been successful in extending the Eastern Shoot of the Tabasco/Cayenne Zones with 9.70 g/t of gold over 3.70 metres in hole FA-21-311-W1.
“These drilling results continue to validate substantial opportunities to increase the mineral resources within the known footprint of the Fenelon deposit, and within the extensions along strike and at depth,” stated Marz Kord, President & CEO of Wallbridge. “In Area 51, we have encountered several new intersections with open pit potential, at higher grades than the average open pit grade in our 2021 MRE. Over the course of 2022, in addition to resource expansion and exploration drilling, we will continue to target zones with the potential to deliver higher grade near surface mineralization inside the current pit shell, which will strengthen the overall economics of the open pit component of the project.”
Resource Expansion Drill Results
Highlight expansion intersections since the last news release from this program include:
FA-21-304 2.59 g/t Au over 57.65 metres, including
18.81 g/t Au over 2.10 metres, and
31.51 g/t Au over 2.50 metres in Area 51;
This intersection is near surface, starting at a vertical depth of only 110 metres and located inside the 2021 MRE open pit shell, but not within the resource block model.
FA-21-311-W1 9.70 g/t Au over 3.70 metres in the Tabasco Zone;
This intersection is at a vertical depth of 1,200 metres, 170 metres below the last intersection of the Tabasco/Cayenne Zones in the Eastern Shoot.
Resource In-fill Drill Results
Infill drilling to improve the quality and robustness of the existing resources remains ongoing. The following are highlight infill intersections since our last update:
FA-20-159-W3 1.40 g/t Au over 53.85 metres, including
2.44 g/t Au over 18.80 metres, which includes
4.71 g/t Au over 5.20 metres in Area 51;
FA-21-314 1.01 g/t Au over 36.20 metres, and
2.98 g/t Au over 16.60 metres in Area 51;
FA-21-314-W1 0.88 g/t Au over 34.65 metres, including
3.59 g/t Au over 4.80 metres in Area 51;