Wallbridge Continues to Add Near Surface Gold Mineralization at Fenelon and Expands New Southeast Zones Assay Highlights Include: Within 200 metres from surface:
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129 Fielding Road Lively ON P3Y 1L7 t: 705-682-9297 f: 1-888-316-4156 e: [email protected]
Wallbridge Continues to Add Near Surface Gold Mineralization at
Fenelon and Expands New Southeast Zones
Assay Highlights Include:
Within 200 metres from surface:
• 2.66 g/t Au over 46.70 metres
• 4.19 g/t Au over 24.00 metres
• 8.91 g/t Au over 9.65 metres
Below 200 meters from surface
• 25.66 g/t Au over 1.50 metres in the recently discovered southeast extension area
Toronto, Ontario – December 8, 2022 – Wallbridge Mining Company Limited ( TSX:WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company”) is pleased to report that ongoing drilling at
the Company’s 100% -owned Fenelon gold project ( “Fenelon” or the “Project” ) has identified
additional near-surface gold mineralization, within or close to the existing Mineral Resource Estimate
(“MRE”) footprint. Furthermore, exploration drilling to the southeast of the MRE continues to
delineate a gold mineralized environment showing excellent resource growth potential.
Attila Péntek, Wallbridge’s Vice President, Exploration, commented:
“Identifying strong, near-surface mineralization at Fenelon has been a key objective of our 2022
exploration program. The assays we announced today continue to validate the quality and continuity
of the deposit within 200 metres of the surface. Strengthening the overall grade of the Fenelon
resource was another important goal and the results we have achieved this year will also support
this objective as we prepare to issue an updated MRE in the first quarter of 2023. This will be a
critical input for delivering a positive Preliminary Economic Assessment of a primarily underground
bulk mining operation at Fenelon, expected to be completed in the second quarter. In addition,
today’s results include assays from two drill holes to the southeast of the existing MRE ,
demonstrating additional growth potential of the Fenelon deposit, which still remains open in nearly
all directions.”
Highlight Assay Results
Tabasco-Cayenne Corridor (above 200 m vertical depth)
FA-22-477 2.66 g/t Au over 46.70 metres, including
6.62 g/t Au over 15.00 metres, which includes
88.69 g/t Au over 1.05 metres;
FAM-22-002 4.19 g/t Au over 24.00 metres, including
14.16 g/t Au over 5.50 metres, and
0.78 g/t Au over 63.50 metres;
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19-0915-004 8.91 g/t Au over 9.65 metres, including
69.24 g/t Au over 1.15 metres as part of the 2022 in-fill
sampling program;
FA-22-471 19.02 g/t Au over 1.30 metres;
FA-22-469 37.30 g/t Au over 0.65 metre;
Area 51, Near Surface (above 200 m vertical depth)
FA-22-500 2.50 g/t Au over 8.30 metres, including
6.13 g/t Au over 3.00 metres;
Area 51 (below 200 m vertical depth)
FA-21-233 9.02 g/t Au over 9.60 metres, including
154.00 g/t Au over 0.50 metre, and
12.20 g/t Au over 0.65 metre;
FA-22-434 25.66 g/t Au over 1.50 metres;
Tabasco-Cayenne Corridor (below 200 m vertical depth)
FA-22-497 9.30 g/t Au over 2.80 metres, including
26.10 g/t Au over 0.80 metre;
The results reported in today’s press release are from 51 drill holes completed in 2022, one 2021
hole that was extended in 2022 (FA -21-233), three holes sampled during the 2022 in -fill sample
program, and one hole drilled for geomechanical purposes in support of economic studies (FAM -
series). All figures and a table with drill hole information of recently completed holes are posted on
the Company’s website under “Current Program” at https://wallbridgemining.com/our-
projects/fenelon-gold/.
Fenelon is located within Wallbridge's 830- square-kilometre land package on the Detour- Fenelon
Gold Trend, 80 kilometres east of the Detour Lake gold mine.
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Figure 1. Detour-Fenelon Gold Trend
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Figure 2. Fenelon Gold, Plan View
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Figure 3. Fenelon Gold, Plan View, 0-200 metres Vertical Depth
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Figure 4. Fenelon Gold, Plan View, 825 metres Vertical Depth
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Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
FENELON
< 200 m Vertical Depth
*19-0915-004 4.45 14.10 9.65 8.91 8.91 Tabasco
Including… 5.85 7.00 1.15 69.24 69.24 Tabasco
FA-22-416 No Significant Mineralization (4)
FA-22-417 679.85 680.35 0.50 18.40 18.40 Area 51
FA-22-417-W1 No Significant Mineralization (4)
FA-22-417-W2 1202.50 1203.00 0.50 20.70 20.70 Area 51
FA-22-463 105.00 108.00 3.00 1.94 1.94 Contact Zone
FA-22-465A 59.50 70.00 10.50 0.60 0.60 Area 51
FA-22-465A 76.00 86.85 10.85 1.19 1.19 Area 51
FA-22-465-W1 No Significant Mineralization (4)
FA-22-466 129.40 130.60 1.20 9.25 9.25 Area 51
FA-22-468A 115.00 125.50 10.50 0.98 0.98 Area 51
FA-22-468A 155.00 155.60 0.60 12.35 12.35 VG Area 51
FA-22-469 131.85 132.50 0.65 37.30 37.30 Tabasco
FA-22-471 170.50 171.80 1.30 19.02 19.02 Tabasco
FA-22-475 197.00 203.00 6.00 0.99 0.99 Area 51
FA-22-475 240.30 240.80 0.50 17.36 17.36 VG Area 51
FA-22-477 42.00 47.50 5.50 1.60 1.60 Area 51
FA-22-477 96.25 99.00 2.75 4.82 4.82 VG Area 51
Including… 96.25 96.75 0.50 25.00 25.00 VG Area 51
FA-22-477 217.50 264.20 46.70 2.66 2.66 Contact Zone
Including… 217.50 232.50 15.00 6.62 6.62 Contact Zone
Which Includes… 218.25 219.30 1.05 88.69 88.69 Contact Zone
FA-22-480 No Significant Mineralization (4)
FA-22-481 62.50 65.50 3.00 2.03 2.03 Contact zone
FA-22-482 No Significant Mineralization (4)
FA-22-484 188.50 208.50 20.00 0.72 0.72 Area 51
Including… 200.00 208.50 8.50 0.86 0.86 Area 51
FA-22-485 46.50 48.00 1.50 6.81 6.81 Area 51
FA-22-487 277.50 279.00 1.50 4.89 4.89 Area 51
FA-22-488 No Significant Mineralization (4)
FA-22-491 140.90 149.00 8.10 0.64 0.64 Area 51
FA-22-492 42.50 44.00 1.50 3.53 3.53 Area 51
FA-22-492 118.00 137.50 19.50 0.60 0.60 Area 51
FA-22-494 133.00 134.50 1.50 4.54 4.54 Area 51
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Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
FA-22-495 286.00 288.00 2.00 3.09 3.09 Cayenne
FA-22-498 91.00 92.50 1.50 3.64 3.64 Area 51
FA-22-498 256.00 256.50 0.50 10.35 10.35 VG Area 51
FA-22-499 No Significant Mineralization (4)
FA-22-500 154.00 162.30 8.30 2.50 2.50 Area 51
Including… 154.00 157.00 3.00 6.13 6.13 Area 51
FA-22-502 No Significant Mineralization (4)
FA-22-504 95.20 95.80 0.60 8.55 8.55 Area 51
FAM-22-002 58.00 61.00 3.00 2.83 2.83 Tabasco
FAM-22-002 80.50 104.50 24.00 4.19 4.19 Tabasco
Including… 80.50 86.00 5.50 14.16 14.16 Tabasco
FAM-22-002 137.50 201.00 63.50 0.78 0.78 Contact Zone
**Including… 137.50 150.34 12.84 0.80 0.80 Contact Zone
FAM-22-002 272.00 275.00 3.00 3.09 3.09 Area 51
Below 200 m Vertical depth
*FA-19-096-W1 897.50 900.50 3.00 1.99 1.99 Cayenne
*FA-20-155 685.10 686.00 0.90 8.92 8.92 Area 51
FA-21-233 673.50 683.10 9.60 9.02 4.90 VG Area 51
Including… 673.50 674.00 0.50 154.00 75.00 VG Area 51
And… 682.45 683.10 0.65 12.20 12.20 Area 51
FA-22-399 789.00 791.00 2.00 8.73 8.73 Cayenne
FA-22-432-W1 370.20 371.00 0.80 8.88 8.88 Area 51
FA-22-434 524.10 525.60 1.50 3.63 3.63 Area 51
FA-22-434 610.00 611.50 1.50 6.69 6.69 Area 51
FA-22-434 938.00 939.50 1.50 25.66 25.66 Area 51
FA-22-434 976.00 980.80 4.80 2.08 2.08 Area 51
FA-22-434-W1 485.00 486.15 1.15 8.33 8.33 Area 51
FA-22-434-W1 1027.00 1027.95 0.95 8.65 8.65 Area 51
FA-22-452 370.65 372.00 1.35 5.13 5.13 Area 51
FA-22-465A 349.00 350.50 1.50 6.97 6.97 Area 51
FA-22-468A 565.00 565.50 0.50 34.98 34.98 VG Area 51
FA-22-473-W1 995.20 999.00 3.80 2.63 2.63 Contact zone
FA-22-475 287.10 290.00 2.90 1.84 1.84 Area 51
FA-22-484 349.90 351.30 1.40 3.64 3.64 Area 51
FA-22-487 462.20 464.00 1.80 2.96 2.96 Area 51
FA-22-487 628.00 629.00 1.00 8.36 8.36 Area 51
FA-22-492 490.50 492.00 1.50 5.50 5.50 Area 51