Wallbridge Assays 2.81 g/t Gold over 98.91 metres including 15.93 g/t Gold over 11.22 metres Confirming Significance of Area 51 Zone Discovery
Wallbridge Assays 2.81 g/t Gold over
98.91 metres including 15.93 g/t Gold
over 11.22 metres Confirming
Significance of Area 51 Zone Discovery
TORONTO, April 23, 2019 /CNW/ - Wallbridge Mining Company
Limited (TSX:WM, FWB: WC7) ("Wallbridge" or the
"Company") today announced that hole FA-19-052 has assayed 2.81
g/t gold over 98.91 metres confirming the significance of the newly-
discovered Area 51 Zone at its 100%-owned Fenelon Gold property
("Fenelon" or the "Property"). In addition, the Company announced
intercepts from the Fenelon Main Zone including 22.54 g/t gold over
7.95 metres (5.58 metres true width).
Highlights
Area 51 Zone
• 2.81 g/t gold over 98.91 metres in FA-19-052 within Area 51
Zone, within a broad mineralized interval of more than 200
metres.
• Higher grade sub-intervals within the 98.9 metres include:
o 15.93 g/t gold over 11.22 metres, including 34.59 g/t gold
over 1.07 metres and 62.68 g/t gold over 2.25 metres
o 8.71 g/t gold over 6.24 metres
o 4.57 g/t gold over 2.60 metres
o 5.63 g/t gold over 2.36 metres
• Visible gold was observed to be present in all holes testing Area
51 Zone to date.
• Approximately 400 metres of strike length within Area 51 has
now been tested to greater than 500 metres vertical depth.
• 2 more drills have now been added for a total of 2 surface and 2
underground drill rigs.
Fenelon Main Zone
Significant mineralization was also encountered within the main
Gabbro (Fenelon Main Zone):
• 22.54 g/t gold over 7.95 metres, including 42.29 g/t gold over
4.02 metres
• 7.85 g/t gold over 4.65 metres
"These assays confirm that Area 51 Zone is a target that dramatically
increases the potential of the gold system at Fenelon," said Marz
Kord, President & CEO of Wallbridge. "We have now tested
approximately 400 metres along the strike of this potential 2.5-
kilometre structure and each of the holes drilled to date has
intersected broad zones of mineralization with occasional visible gold.
We have added two more drills and will continue to test the Area 51
Zone along strike, the Fenelon Main Zone to depth and other targets
on the Fenelon Gold property."
The Area 51 Zone was discovered by the last hole of the 2018
program (FA-18-051), approximately 300 m west of the Fenelon Main
Zone.
"Since completing our highly successful drill hole FA-19-052, which is
the subject of this press release, we have extended two holes drilled
last year and drilled two additional holes through Area 51", explained
Attila Pentek, VP Exploration. "All four holes intersected significant
gold mineralization along 400 m strike length of Area 51. We continue
to intersect broad gold mineralization hosted within various porphyritic
and gabbroic rock types with visible gold-bearing shear zones. These
characteristics confirm the significant size potential of this newly
discovered mineralized corridor. These results warrant very
aggressive step-out drilling up-dip, down-dip and along strike to test
the size of this system."
A summary of the new drill hole results from the ongoing 2018/2019
underground and surface drill programs are reported in Tables 1 and 2
and also shown on the Figures below as well as on the Company
website.
Table 1. Wallbridge Fenelon Gold Property 2018/2019 Drill Assay Highlights (1)
Drill
Hole From To From To From To Length
True
Width Au
Au
Capped(2) VG(3) Zone
(m) (m) (m) (m) (m) (m) (m) (m) (g/t) (g/t)
FA-
18-
035 35.22 36.26 1.04 0.66 1.08 1.08 Area 51
FA-
18-
041 171.00 171.73 0.73 NA 2.26 2.26 East
18-
5175-
011 49.73 50.40 0.67 0.36 2.13 2.13 Fresno
18-
5175-
011 91.35 96.00 4.65 2.56 7.85 7.85
Naga
Viper
19-
1035-
003 110.15 110.68 0.53 0.48 1.04 1.04 Chipotle
19-
5150-
001 174.40 175.05 0.65 0.23 3.27 3.27 Unnamed
19-
5150-
002 66.00 68.60 2.60 1.36 2.03 2.03 Habanero
19-
5150-
004 38.73 46.68 7.95 5.58 22.54 22.54
Naga
Viper
19-
5150-
004 Including... 38.73 42.75 4.02 2.81 42.29 42.29 VG
Naga
Viper
19-
5150-
005 No assay results greater than 1 g/t Au
19-
5150-
006 81.30 83.58 2.28 0.68 1.28 1.28
Naga
Viper
19-
5150-
006 231.30 232.32 1.02 0.36 1.06 1.06 Cayenne
19-
5150-
008 No assay results greater than 1 g/t Au
19-
5150-
009 48.47 49.08 0.61 0.34 3.52 3.52
Naga
Viper
19-
5150-
009 58.21 59.60 1.39 0.78 2.34 2.34 Habanero
FA-
18-
051 633.00 634.44 1.44 NA 5.92 5.92 Area 51
FA-
18-
051 647.14 648.00 0.86 NA 5.22 5.22 Area 51
FA-
19-
052 118.30 123.60 5.30 NA 1.00 1.00 Area 51
FA-
19-
052 303.24 304.00 0.76 NA 1.23 1.23 Area 51
FA-
19-
052 334.08 335.00 0.92 NA 2.00 2.00 Area 51
FA-
19-
052 362.50 363.36 0.86 NA 1.06 1.06 Area 51
FA-
19-
052 368.20 368.95 0.75 NA 1.47 1.47 Area 51
FA-
19-
052 392.50 397.07 4.57 NA 5.14 5.14 VG Area 51
FA-
19-
052 442.02 442.49 0.47 NA 5.32 5.32 Area 51
FA-
19-
052 450.31 451.18 0.87 NA 8.92 8.92 Area 51
FA-
19-
052 477.56 576.47 98.91 NA 2.81 2.81 Area 51
FA-
19-
052
Including...
477.56 479.00 1.44 NA 5.15 5.15 Area 51
FA-
19-
052 482.90 485.50 2.60 NA 4.57 4.57 VG Area 51
FA-
19-
052 493.76 500.00 6.24 NA 8.71 8.71 VG Area 51
FA-
19-
052 516.34 518.70 2.36 NA 5.63 5.63 VG Area 51
FA-
19-
052 532.46 533.96 1.50 NA 1.50 1.50 Area 51
FA-
19-
052 565.25 576.47 11.22 NA 15.93 15.93 Area 51
FA-
19-
052
Including…
567.93 569.00 1.07 NA 34.59 34.59 VG Area 51
FA-
19-
052 574.22 576.47 2.25 NA 62.68 62.68 VG Area 51
FA-
19-
052 588.97 590.30 1.33 NA 2.64 2.64 Area 51
Holes starting with FA represent surface exploration program
(1) Table includes only highlight assay results since the latest press release. Earlier highlight intersections of the 2018
program can be found on the Company website: http://www.wallbridgemining.com/i/maps/fenelon/Fenelon-2018-UG-
drilling-highlights.pdf
(2) Au capped at 140 g/t following InnovExplo's 2016 Mineral Resource Estimate.
(3) Intervals containing visible gold ("VG").
(4) Currently not enough information available to estimate true width.
Table 2. Wallbridge Fenelon Gold Property 2018/2019 drill hole information (1)
Drill Hole ID
Local
grid E
Local
grid N Elevation
Length
(Metres) Azimuth Dip VG/CP(2) Note
FA-18-051 10432 11040 5260 670 220 -51 VG Further assays pending
FA-19-052 10121 10605 5258 833 35 -62 VG Further assays pending
18-5175-007 10580 10986 5177 205 228 -43 CP Final Assays Received
18-5175-011 10580 10986 5177 200 191 -48 CP Final Assays Received
19-5150-001 10595 10950 5147 181 230 -62 VG Further assays pending
19-5150-002 10595 10950 5147 147 222 -48 VG Final Assays Received
19-5150-003 10595 10950 5147 102 205 -32 VG Assays pending
19-5150-004 10595 10950 5147 56 227 -26 VG Final Assays Received
19-5150-005 10595 10950 5147 132 170 -50 CP Final Assays Received
19-5150-006 10595 10950 5147 274 178 -63 CP Final Assays Received
19-5150-007 10595 10950 5147 90 182 -20 CP Final Assays Received
19-5150-008 10595 10950 5147 102 152 -15 CP Final Assays Received
19-5150-009 10595 10950 5147 63 232 -39 CP Final Assays Received
19-5150-010 10595 10950 5147 51 228 -10 CP Assays pending
19-1035-001 10502 10851 5134 177 25 -57 CP Assays Pending
19-1035-002 10502 10851 5134 150 25 -48 CP Assays pending
19-1035-003 10502 10851 5134 138 23 -38 VG Further assays pending
19-1035-004 10502 10851 5134 165 38 -46 Assays pending
19-1035-005 10502 10851 5134 138 49 -43 CP Assays pending
19-1035-006 10502 10851 5134 168 30 -41 Assays pending
19-0925-001 10595 10950 5134 111 24 -56 CP Assays pending
19-0925-002 10595 10950 5134 87 24 -38 CP Assays pending
19-0925-003 10595 10950 5134 75 24 -17 CP Assays pending
19-0925-004 10595 10950 5134 99 25 -10 CP Assays pending
19-0925-005 10397 10902 5135 48 190 -55 Assays pending
19-0925-005a 10397 10902 5135 Underway 190 -55 VG Assays pending
FA-18-038 10458 11053 5260 915 240 -54 VG Extended hole - assays pending
FA-18-040 10459 11054 5261 797 246 -48 VG Extended Hole- assays pending
FA-19-053 10432 11043 5259.9 Underway 262 -48 CP Assays pending
FA-19-054 10195 10553 5258.1 Underway 360 -55 VG Assays pending
(1) Table includes only drill holes for which assays are pending. For earlier holes please refer to tables in previous press
releases.
(2) Drill holes containing visible gold ("VG") or chalcopyrite-bearing mineralized shear zone ("CP").
Fenelon is located in northwestern Quebec proximal to the Sunday
Lake Deformation Zone ("SLDZ") which hosts the Detour Gold Mine in
Ontario, and Balmoral Resources' gold deposits at Martiniere. Fenelon
hosts the Discovery Zone gold deposit and surrounding 4 km strike
length of a gold-hosting secondary splay of the SLDZ.
Since acquiring the property in late 2016, Wallbridge has completed
an updated resource estimate and a positive pre-feasibility study on
the existing resource. Wallbridge has undertaken successful surface
exploration drilling campaigns in 2017, 2018 and 2019, and has
substantially completed an underground 35,000-tonne bulk sample at
Fenelon. Drilling to date has significantly extended existing zones and
discovered several new parallel zones.
Drill core samples from the ongoing drill program at Fenelon were cut
and bagged on site and transported to SGS Canada Inc. Samples,
along with standards, blanks, and duplicates included for quality
assurance and quality control, were prepared and analyzed at SGS
Canada Inc. laboratories. Samples are crushed to 90% less than
2mm. A 1kg riffle split is pulverized to >95% passing 106 microns. 50g
samples are analyzed by fire assay and AAS. Samples >10g/t Au are
automatically analyzed by fire assay with gravimetric finish or screen
metallic analysis. To test for coarse free gold and for additional quality
assurance and quality control, Wallbridge requests screen metallic
analysis for samples containing visible gold. These and future assay
results may vary from time to time due to re-analysis for quality
assurance and quality control.
The Qualified Persons responsible for the technical content of this
press release are Marz Kord, P. Eng., M. Sc., MBA, President & CEO
and Attila Péntek, P.Geo., Ph.D., Vice President Exploration for
Wallbridge Mining Company Limited.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will support
sustainable production and revenue as well as organic growth through
exploration and scalability.
Wallbridge is currently developing its 100%-owned high-grade
Fenelon Gold property in Quebec with ongoing exploration and a
35,000-tonne bulk sample. Wallbridge is also pursuing additional
advanced-stage projects which would add to the Company's near-
term project pipeline. These discussions benefit from the operating
capabilities Wallbridge demonstrated by safely and efficiently mining
the Broken Hammer deposit in Sudbury, which was completed in
October 2015. As part of this strategy, the Company recently optioned
the Beschefer Project, an advanced gold property with proven size
and grade-potential near Fenelon Gold. Wallbridge is also continuing
partner-funded exploration on its large portfolio of nickel, copper, and
PGM projects in Sudbury, Ontario, with a focus on its high-grade
Parkin project.
Wallbridge also has exposure to exploration for copper and gold in
Jamaica and British Columbia through its 11.3% ownership of Carube
Copper Corp. (CUC:TSX-V, formerly Miocene Resources Limited, a
Wallbridge spin-out of its BC assets).
This press release may contain forward-looking statements
(including "forward-looking information" within the meaning of
applicable Canadian securities legislation and "forward-looking
statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995) relating to, among other things,
the operations of Wallbridge and the environment in which it
operates. Generally, forward-looking statements can be identified
by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Wallbridge has relied on a number of assumptions and estimates
in making such forward-looking statements, including, without
limitation, the costs associated with the development and
operation of its properties. Such assumptions and estimates are
made in light of the trends and conditions that are considered to
be relevant and reasonable based on information available and
the circumstances existing at this time. A number of risk factors
may cause actual results, level of activity, performance or
outcomes of such exploration and/or mine development to be
materially different from those expressed or implied by such
forward-looking statements including, without limitation, whether
such discoveries will result in commercially viable quantities of
such mineralized materials, the possibility of changes to project
parameters as plans continue to be refined, the ability to execute
planned exploration and future drilling programs, the need for
additional funding to continue exploration and development
efforts, changes in general economic, market and business
conditions, and those other risks set forth in Wallbridge's most
recent annual information form under the heading "Risk Factors"
and in its other public filings. Forward-looking statements are not
guarantees of future performance and such information is
inherently subject to known and unknown risks, uncertainties
and other factors that are difficult to predict and may be beyond
the control of Wallbridge. Although Wallbridge has attempted to
identify important risks and factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other
factors and risks that cause actions, events or results not to be
as anticipated, estimated or intended. Consequently, undue
reliance should not be placed on such forward-looking
statements. In addition, all forward-looking statements in this
press release are given as of the date hereof.
Wallbridge disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of
new information, future events or otherwise, save and except as
may be required by applicable securities laws. The forward-
looking statements contained herein are expressly qualified by
this disclaimer.
SOURCE Wallbridge Mining Company Limited
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For further information: please visit the Company's website at
www.wallbridgemining.com or contact: Wallbridge Mining Company
Limited, Marz Kord, P. Eng., M. Sc., MBA, President & CEO, Tel:
(705) 682-9297 ext. 251, Email: [email protected]; Brian
Penny, Chief Financial Officer, Tel: (416) 716-8346, Email:
CO: Wallbridge Mining Company Limited