Wallbridge drills 21.15 metres of 3.84 g/t gold at Fenelon, Quebec

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Wallbridge Mining Company Ltd. [WM-TSX; WLBMF-OTC; WC7-FSE] reported further positive assay results from its resource drill program on its 100%-owned Fenelon gold property located along the Detour-Fenelon gold trend, an emerging gold belt in northwestern Quebec.

Assay results are from drill holes that were part of the company’s drill program in support of the maiden mineral resource estimate (MRE) on the Fenelon gold system. The complete results of these drill holes were not received in time for inclusion into the MRE; however, they now provide the company with further confidence on the robustness of the resource.

The company plans to continue with its exploration and underground development program for the balance of this year. Future exploration programs are currently being developed and will be disclosed when available.

“With almost 60% of the mineral resources both at Fenelon and Martiniere being in the indicated category, future drill programs will dominantly focus on significantly growing the mineral resources and enhancing our knowledge of the deposits,” stated Marz Kord, president and CEO. “We are also progressing well with various studies, such as metallurgical testwork and geotechnical work in support of an economic study.”

Drill hole intersections that are located within indicated or inferred blocks of the November, 2021, MRE are reported as infill drill results, while intercepts outside of those blocks are reported as expansion drill results.

Highlights of resource infill drill results include drill hole FA-21-266 that returned 2.30 g/t gold over 19.55 metres in Area 51 and 1.71 g/t gold over 35.55 metres, including 4.73 g/t gold over 5.40 metres, in the Tabasco zone. Hole FA-21-266-W4 returned 3.84 g/t gold over 21.15 metres, including 26.25 g/t gold over 1.50 metres, and 5.60 g/t gold over 5.60 metres in the Tabasco zone.

Hole FA-21-279 returned 8.94 g/t gold over 4.00 metres, including 26.59 g/t gold over 1.30 metres, and 2.50 g/t gold over 16.10 metres, including 3.16 g/t gold over 12.20 metres in the Contact zone, and 5.18 g/t gold over 8.00 metres, including 29.48 g/t gold over 1.10 metres in the Tabasco zone. Hole FA-21-283B returned 10.98 g/t gold over 8.40 metres, including 29.95 g/t gold over 3.00 metres, and 1.22 g/t gold over 23.25 metres in the Contact zone.

Hole FA-21-284 returned 3.66 g/t gold over 7.95 metres in the Contact zone. Hole FA-21-285 returned 1.04 g/t gold over 43.90 metres in the Contact zone. Hole FA-21-289 returned 3.13 g/t gold over 11.00 metres, including 5.23 g/t gold over 5.70 metres, and 2.07 g/t gold over 35.00 metres, including 9.37 g/t gold over 5.60 metres in Area 51.

Highlight resource expansion drill results include hole FA-21-296 that returned 0.55 g/t gold over 47.40 metres, including 4.84 g/t gold over 3.00 metres, in Area 51. Refer to company press release for complete assays.

The company completed approximately 102,000 metres of drilling in 2020 and currently conducting a fully financed 2021 program of approximately 150,000 to 170,000 metres of drilling and 2,500 metres of underground exploration development (phase 1 of a 10,000-metre program).


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