Wallbridge Mining drills 37.95 g/t gold over 1.9 metres at Fenelon, Quebec

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Wallbridge Mining Company Ltd. [TSX-WM; OTCQB-WLBMF] reported final assay results from its 2,396-metre drilling program completed in March 2024, at its 100%-owned Fenelon gold project, Quebec.

Highlights: Intersected multiple high-grade gold-bearing structures in the Enterprise and Andromeda vein swarms of the Area 51 zone, at depths ranging between 60 metres and 150 metres below surface, including 29.48 g/t gold over 1.4 metres and 37.95 g/t Au over 1.9 metres in drill hole FA-24-578; 12.09 g/t Au over 0.5 metres and 41.55 g/t Au over 0.5 metres in drill hole FA-24-579.

Provided additional infill confirmation of gold-grade continuity along Contact and Tabasco zone structures proximal to the Area 51 zone at relatively shallow depths ranging between 40 metres and 85 metres below surface, with intercepts including 2.15 g/t Au over 4.5 metres and 1.90 g/t Au over 4.1 metres in drill hole FA-24-575; 3.39 g/t Au over 2.5 metres in drill hole FA-24-580.

Deeper mineralization was also intersected in the Area 51-MIB and Tabasco zones at depths ranging between 350 m and 500 m below surface, including 7.75 g/t Au over 2.4 metres and 11.52 g/t Au over 1.7 metres in drill hole FA-24-578; 50.13 g/t Au over 0.5 metre in drill hole FA-24-579.

Confirmed continuation of gold mineralization along easterly strike projection of the Contact and Tabasco zone structures near the currently defined limit of the Fenelon mineral resource, with 1.52 g/t Au over eight metres in a downhole extension of drill hole FA-20-194.

Brian Penny, CEO, commented: “These new intercepts provide further confirmation of the continuity and distribution of gold mineralization within the Fenelon mineral resource. This near-surface mineralization could provide a positive impact on the project, and it will be used to advance the combined Fenelon-Martiniere preliminary economic assessment (PEA) currently in progress.”

Earlier this year and during 2023, Wallbridge released a series of results from delineation and infill drilling completed at Fenelon subsequent to the announcement of the 2023 mineral resource estimate.

Subsequent to the completion of its Q1 Fenelon drill program, Wallbridge recently completed a Phase 1 drill program at its Martiniere Project, located 30 km west of Fenelon. Key objectives of the Phase 1 program include the collection of mineralized material for bulk metallurgical testing, collection of geotechnical data to support rock mass characterization studies, and infill drilling to upgrade resource classification.

The company will provide an update on the Martiniere Project once the final results of the Phase 1 program have been received. Additionally, final preparations are well underway for the commencement of the 2024 regional exploration drilling program, which is scheduled to begin in early June.

Wallbridge is focused on creating value through the exploration and sustainable development of gold projects along the Detour-Fenelon Gold Trend in Quebec’s Northern Abitibi region while respecting the environment and communities where it operates.

Wallbridge’s most advanced projects, Fenelon Gold and Martiniere Gold incorporate 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) at Fenelon that estimates average annual gold production of 212,000 ounces over 12 years.

Wallbridge also holds a 15.79% interest in the common shares of NorthX Nickel Corp. (formerly Archer Exploration) as a result of the sale of the company’s portfolio of nickel assets in Ontario and Quebec.

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