Wallbridge Mining drills 1.63 g/t gold over 19.35 metres at Martiniere, Quebec
Wallbridge Mining Company Ltd. [WM-CSE] has extended gold mineralization at the 100%-owned Martiniere gold project 300 metres east of the existing mineral resource estimate (MRE) footprint, Quebec. The results build upon step-out hole (MR-22-036) completed in late 2022, which identified the presence of significant gold mineralization east of the main deposit.
Attila Pentek, Vice President, Exploration, commented: “We are excited to report that all of our follow-up holes in the M1 Target area to date have encountered gold mineralization, validating the potential to significantly expand the footprint of the Martiniere deposit to the east. Since commencing our exploration work at Martiniere in 2021, we have doubled the MRE at the project, and these results continue to reinforce the large size potential of the Martiniere gold system. In addition, a recently completed high-resolution airborne magnetic survey is providing valuable information to further improve the success of our property-wide targeting as we continue to follow up on these strong results.”
Highlights: MR-23-041 (a 300-metre undercut of MR-22-036) intersected 5.15 g/t gold over 4.00 metres, including 9.28 g/t gold over 1.55 metres.
MR-23-042, collared 250 metres to the east of MR-22-036, intersected 1.63 g/t gold over 19.35 metres, including 6.96 g/t gold over 2.30 metres.
New drill holes confirm increased presence of porphyritic intrusive rocks towards the east, similar to the Bug Lake Porphyry, one of the main controls on gold mineralization at Martiniere.
Prior to the temporary suspension of operations due to forest fires, the company had three drill rigs operating on its Detour-Fenelon Gold Trend property: two at its Martiniere gold project and one that was in the process of moving from Fenelon to Grasset East to test favorable target areas on this eastern, unexplored part of the land package. At Martiniere, additional holes are planned to continue testing the M1 Target following the results announced today.
So far, Wallbridge has completed over 10,000 metres of drilling at Martiniere as part of its 2023 exploration program. Assays results are being released today for three drill holes from the 2023 Martiniere drill program and two holes completed at the end of 2022. Assay results for 14 drill holes testing other exploration targets at Martiniere are currently pending.
In addition to the drilling campaign, a high-resolution airborne magnetic survey was completed over Martiniere, which is providing valuable information for drill targeting through the identification of potential host rocks and gold-bearing structures property wide.
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend while respecting the environment and communities where it operates.
Wallbridge’s flagship project, Fenelon Gold, is located on the highly prospective Detour-Fenelon Gold Trend property in Quebec’s Northern Abitibi region. An updated mineral resource estimate completed in January 2023 yielded significantly improved grades and additional ounces at the 100%-owned Fenelon and Martiniere projects, incorporating a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred gold resources.
Fenelon and Martiniere are located within an 830 km2 exploration land package controlled by Wallbridge. The company believes that these two deposits have good potential for economic development, especially given their proximity to existing hydro-electric power and transportation infrastructure. In addition, Wallbridge believes that the extensive land package is extremely prospective for the discovery of additional gold deposits.
Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. [RCHR-CSE] as a result of the sale of the company’s portfolio of nickel assets in Ontario and Quebec in November of 2022.