Wallbridge Expands Fenelon Gold System in Multiple Directions
WALLBRIDGE MINING COMPANY LIMITED TSX: WM www.wallbridgemining.com
129 Fielding Road Lively ON P3Y 1L7 t: 705‐682‐9297 f: 1‐888‐316‐4156 e: [email protected]
Wallbridge Expands Fenelon Gold System in Multiple Directions
Toronto, Ontario – May 30, 2022 – Wallbridge Mining Company Lim i t e d ( T S X : W M ,
OTCQX:WLBMF) (“Wallbridge” or the “Company” ) today reports positive assay results from the
ongoing drill program at the Company's Fenelon Gold project (“Fenelon”) at its Detour-Fenelon Gold Trend
Property in Northwestern Quebec. The results announced today continue to demonstrate significant expansion
potential both within and beyond the known footprint of the Fen elon gold deposit as outlined in the 2021
mineral resource estimate (“MRE”).
“The resource expansion drilling completed at Fenel on since the beginning of the year has met our
expectations, confirming the potential to add resources in close proximity to the 2021 MRE that can be
included in the next resource update,” said Attila Pént ek, Wallbridge’s Vice President, Exploration. “Over
the coming months, we will continue to focus on areas with the strongest potential to add high-quality gold
ounces, which will inform our decisions regarding the op timal mine configuration for Fenelon in upcoming
economic studies.”
Fenelon is located 80 kilometres east of Agnico Eagle’s Detour Lake gold m ine at the centre of
Wallbridge’s strategic land package, which covers roughly 910 square kilometres of the most prospective
ground on the Detour-Fenelon Gold Trend. Thus far, the Company has added near surface mineralization
in Area 51 through its 2022 drill program at Fenelon, extending this zone to the southwest. It has also
established underground access to Area 51, confirming anticipat ed grades and continuity at depth. In
addition, drilling has extended the Tabasco and Cayenne zones a t depth, and identified strong gold
mineralization in the Ripley zone, south of the main Fenelon deposit.
Highlights of the drilling results released today include the following:
Within 2021 MRE Footprint
FA-21-380 2.53 g/t Au over 27.50 metres in the Interstellar 3 zone of Area 51, 80
metres below the underground exploration drift completed earlie r this year,
demonstrating good continuity of this zone.
Lateral Expansion from 2021 MRE
East-Southeast Area 51/Contact Zone
FA-22-409 2.14 g/t Au over 15.50 metres , including
4.83 g/t Au over 2.10 metres, and
5.20 g/t Au over 4.00 metres near the Contact Zone in a new Area 51 zone
southeast of the MRE.
FA-22-421 1.35 g/t Au over 19.50 metres, including
6.76 g/t Au over 3.00 metres in a new Area 51 zone southeast of the MRE.
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21-5130-003 0.95 g/t Au over 24.00 metres along the Contact Zone close to the eastern
edge of the MRE.
FA-22-394-W1 37.55 g/t Au over 0.55 metres in a new Area 51 zone southeast of the MRE.
West-Southwest Area 51/Contact Zone
FA-22-399 1.19 g/t Au over 49.25 metres, including
9.43 g/t Au over 3.50 metres near the Contact Zone within Area 51, west
of the MRE.
FA-20-171-W1 46.90 g/t Au over 0.50 metres, extending Area 51 mineralization west of
the MRE.
FA-21-382 16.69 g/t Au over 1.30 metres, extending Area 51 mineralization southwest
of the MRE.
FA-21-385 45.94 g/t Au over 0.50 metres, extending Area 51 mineralization west of
the MRE.
Final assay results from 29 drill holes and partial results for three holes of the 2021/2022 Fenelon drill
program are reported in the Table and Figures below. All figures and the table with drill hole information of
recently completed holes are posted on the Company’s website un der “Current Program”
at https://www.wallbridgemining.com/s/fenelon.asp.
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Figure 1. Fenelon, Plan View
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Figure 2. Fenelon, 3D View Looking Northeast
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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)
22‐5080‐005 No Significant Mineralization (4)
22‐5080‐009 No Significant Mineralization (4)
21‐5130‐003 361.50 445.70 84.20 0.52 0.52 Contact Zone
Including... 361.50 385.50 24.00 0.95 0.95 Contact Zone
And… 423.00 432.00 9.00 0.80 0.80 Contact Zone
21‐5130‐004 262.30 264.30 2.00 7.57 7.57 Contact Zone
Including… 263.30 264.30 1.00 14.37 14.37 Contact Zone
FA‐20‐171‐W1 880.00 880.50 0.50 46.90 46.90 Area 51
FA‐21‐311‐W9 923.50 925.00 1.50 4.12 4.12 Area 51
FA‐21‐326(5) 436.00 437.50 1.50 1.05 1.05 New Zone
FA‐21‐342 No Significant Mineralization (5)
FA‐21‐345 No Significant Mineralization (5)
FA‐21‐346 No Significant Mineralization (5)
FA‐21‐347‐W5 No Significant Mineralization (4)
FA‐21‐380 318.50 346.00 27.50 2.53 2.53 Area 51
FA‐21‐382 143.60 144.90 1.30 16.69 16.69 Area 51
FA‐21‐383 385.20 385.70 0.50 15.10 15.10 Area 51
FA‐21‐385 390.50 391.00 0.50 45.94 45.94 VG Area 51
FA‐21‐389 No Significant Mineralization (4)
FA‐22‐391(5) 188.00 189.00 1.00 1.20 1.20 New Zone
FA‐22‐394 462.00 494.50 32.50 0.76 0.76 Area 51
FA‐22‐394 591.50 604.00 12.50 0.57 0.57 Area 51
FA‐22‐394 804.00 808.00 4.00 1.32 1.32 Area 51
FA‐22‐394 814.50 816.00 1.50 3.51 3.51 Area 51
FA‐22‐394 836.50 838.00 1.50 4.37 4.37 Area 51
FA‐22‐394‐W1 460.00 461.00 1.00 7.16 7.16 Area 51
FA‐22‐394‐W1 556.00 563.50 7.50 1.04 1.04 Area 51
FA‐22‐394‐W1 908.50 917.50 9.00 1.86 1.86 Area 51
FA‐22‐394‐W1 959.90 960.45 0.55 37.55 37.55 VG Area 51
FA‐22‐394‐W1 1012.00 1013.50 1.50 3.83 3.83 Area 51
FA‐22‐396 214.00 217.00 3.00 3.39 3.39 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)
Including… 216.00 217.00 1.00 7.45 7.45 Area 51
FA‐22‐396 376 377 1 10.66 10.66 Area 51
FA‐22‐399 236.15 245.75 9.60 1.52 1.52 Area 51
Including… 236.15 236.95 0.80 12.10 12.10 Area 51
FA‐22‐399 582.40 583.30 0.90 7.22 7.22 Area 51
FA‐22‐399 614.00 616.50 2.50 4.61 4.61 VG Area 51
FA‐22‐399 638.10 687.35 49.25 1.19 1.19 VG Area 51 &
Contact Zone
Including… 649.50 653.00 3.50 9.43 9.43 Area 51 &
Contact Zone
FA‐22‐399 799.00 800.50 1.50 4.32 4.32 Cayenne
FA‐22‐402(5) 90.00 91.00 1.00 1.53 1.53 Ripley
FA‐22‐402(5) 178.00 179.50 1.50 1.86 1.86 Ripley
FA‐22‐402(5) 408.50 418.00 9.50 0.31 0.31 Ripley
FA‐22‐402(5) 452.50 454.00 1.50 0.64 0.64 Ripley
FA‐22‐402(5) 478.00 479.50 1.50 1.68 1.68 Ripley
FA‐22‐402(5) 503.50 506.50 3.00 1.19 1.19 Ripley
FA‐22‐404 No Significant Mineralization (4)
FA‐22‐407 183.50 189.00 5.50 2.25 2.25 Cayenne
FA‐22‐408 No Significant Mineralization (4)
FA‐22‐409 992.00 1007.50 15.50 2.14 2.14 VG Area 51 &
Contact Zone
Including… 992.00 994.10 2.10 4.83 4.83 Area 51 &
Contact Zone
And… 1003.50 1007.50 4.00 5.20 5.20 VG Area 51 &
Contact Zone
FA‐22‐409 1052.50 1055.50 3.00 2.49 2.49 Contact Zone
FA‐22‐409 1082.50 1084.00 1.50 3.69 3.69 Contact Zone
FA‐22‐411 472.90 476.30 3.40 2.52 2.52 VG Area 51
Including… 473.90 474.40 0. 50 15.14 15.14 VG Area 51
FA‐22‐412 185.00 187.20 2.20 7.58 7.58 VG Area 51
Including… 185.00 185.50 0. 50 22.46 22.46 VG Area 51
FA‐22‐412 587.5 588.2 0.7 18.08 18.08 VG Area 51
FA‐22‐412 616.20 635.00 18.80 0.61 0.61 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)
Including… 628.50 635.00 6.50 1.15 1.15 Area 51
FA‐22‐412 688.5 703.2 14.7 0.9735 0.9735 Contact Zone
FA‐22‐413A No Significant Mineralization (4)
FA‐22‐414 269.00 273.50 4.50 1.41 1.41 Tabasco
FA‐22‐414 409.00 412.50 3.50 2.76 2.76 Tabasco
Including… 409.00 410.10 1.10 6.88 6.88 Tabasco
FA‐22‐417 231.50 233.00 1.50 3.57 3.57 Area 51
FA‐22‐421 385.00 404.50 19.50 1.35 1.35 Area 51
Including… 401.50 404.50 3.00 6.76 6.76 Area 51
(1) Table includes only assay results received since the latest press release dated April 28, 2022.
(2) Au cut at: 110 g/t Au for the Tabasco/Contact /Cayenne zones; 75 g/t Au for the Area 51 zones.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 0.35 g/t Au
within the 2021 MRE open pit shell and 1.5 g/t Au for outside open pit shell.
(5) Metal factor of at least 1 g/t*m and minimum weighted average composite grade of 0.3 g/t Au
for exploration drillholes.
Assay QA/QC and Qualified Persons
Drill core samples from the ongoing drill program at Fenelon ar e cut and bagged either on-site or by
contractors and transported to SGS Canada Inc. or Bureau Verita s Commodities Canada Ltd. for analysis.
Samples, along with standards and blanks that are included for quality assurance and quality control, were
prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is
pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS or ICP. At SGS and
Bureau Veritas samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen
metallic analysis. To test for coarse free gold and 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 Person responsible for the technical content of t his press release is Christopher Kelly, MSc,
Senior Geologist of Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the discovery, acquisition, development, and production of
gold from a portfolio of advanced exploration stage assets loca ted in established mining jurisdictions within
Canada. Wallbridge’s flagship project, Fenelon, is located on t he highly prospective Detour-Fenelon Gold
Trend in Northern Abitibi, Quebec. A mineral resource estimate completed in 2021 validated the multi-
million-ounce gold potential of Fenelon as well as Wallbridge’s nearby Martiniere Property, incorporating a
combined 2.67 million ounces of indicated resources and 1.72 mi llion ounces of inferred resources. Fenelon
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and Martiniere, located within a 910-square-kilometre explorati on land package controlled by Wallbridge,
have the potential to be developed into mines, and are close to existing power and transportation
infrastructure. Wallbridge also has interests in several copper , nickel and platinum group metal properties,
including a 17.8% interest in Lonmin Canada Inc.
Further information about Wallbridge can be found in the Company’s regulatory filings available on SEDAR
at www.sedar.com and on the Company’s website at www.wallbridgemining.com.
This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.
Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682‒9297 ext. 251
Email: [email protected]
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]
Cautionary Note Regarding Forward-Looking Information
This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") contains forward-looking
statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is
based on expectations, estimates, projections and interpretations as at the date of this press release.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions,
estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as “seeks”,
“believes”, “anticipates”, “plans”, “continues”, “budget”, “s cheduled”, “estimates”, “expects”, “forecasts”,
“intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by
statements that certain actions, events or results “may”, “w ill”, “could”, “would”, “should” or “might”, “be taken”,
“occur” or “be achieved.”
FLI herein includes, but is not limited to: future drill resu lts; the Company’s ability to convert inferred resources into
measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and
methods used to estimate the mineral resource estimates (e ach an “MRE”) at the Fenelon and Martiniere properties
(collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance
of historic exploration activities and results.
FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may
not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, perfor mance or achievements expresse d or implied by such FLI.
Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be
reasonable assumptions, the Company cannot assure shar eholders and prospective purchasers of securities of the
Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be
as anticipated, estimated or intended, and neither the Co mpany nor any other person assumes responsibility for the
accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes
no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may
be required by law. Unless otherwise noted, this press release has been prepared based on information available as of