Wallbridge Mining drills 3 metres of 10.73 g/t gold at Martiniere, Quebec
Wallbridge Mining Company Ltd.’s [WM-TSX; WLBMF-OTCQX] 2023 exploration drill program has successfully extended the mineralized footprint of the gold system at its 100%-owned Martiniere gold project, Quebec, in multiple directions beyond the boundaries of the 2023 mineral resource estimate (MRE).
“The objectives of the 2023 Martiniere exploration drilling program were all achieved. The mineralized footprint was expanded to the southwest and to the east of the MRE, while gold mineralization was also identified in a number of grassroots exploration targets within a few kilometres of Martiniere. These represent attractive future exploration targets for potential resource growth,” said Attila Pentek, Wallbridge’s vice-president, exploration.
Highlights: Martiniere southwest extension (target M4): MR-23-052 returned 10.73 g/t gold over three metres, including 26.50 g/t gold over 1.10 metres. MR-23-049 returned 9.09 g/t gold over 0.50 metres.
Martiniere Dragonfly zone (formerly eastern extension, target M1): MDE-17-289 returned 3.21 g/t gold over 4.20 metres, including 8.23 g/t gold over 1.50 metres.
MDE-17-289 returned  3.76 g/t gold over 2.30 metres.
These intersections, along with others released on June 8, 2023, expand the known footprint of the Martiniere gold system by 250 to 300 mettres to the southwest and east.
Assay results from exploration drilling confirmed gold mineralization in three grassroots targets; results from four other grassroots targets are still pending.
The main objectives of the 2023 exploration program at Martiniere were to expand the known footprint of the Martiniere gold system through aggressive step-outs on known gold zones, and to test grassroots targets within a few kilometres of the deposit in search of new gold zones. Wallbridge has now completed its 2023 Martiniere exploration drilling program with 29 drill holes totalling approximately 17,460 meters. The objectives of the drill program were achieved: the program tested six expansion targets (M1, M2, M3, M4, M10, M11) situated within 800 metres of the MRE footprint, as well as eight grassroots targets (M5, M6, M7, M8, M9, M12, M13, M14) within a 4.5-kilometre radius of the deposit. Today, the company is reporting the results for 15 drill holes, with results for the last nine holes currently pending.
So far, assay results have confirmed gold mineralization in 3 of the grassroots targets. Grassroots drilling also targeted other interpreted structures and potential host rocks, and assays are currently pending from targets M6, M12, M13 and M14.
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.
Wallbridge has reported a positive Preliminary Economic Assessment (PEA) on its 100%-owned Fenelon gold Project with an estimated average annual gold production of 212,000 ounces over 12.3 years.
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.