Wallbridge Expands Mineralized Footprint at Martiniere
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 Mineralized Footprint at Martiniere
Toronto, Ontario – September 25, 2023 – Wallbridge Mining Company Limited (TSX: WM,
OTCQX: WLBMF) (“Wallbridge” or the “Company”) today announced that its 2023 exploration
drill program has successfully extended the mineralized footprint of the gold system at its 100% -
owned Martiniere Gold project (“ Martiniere”) in multiple directions beyond the boundaries of the
2023 Mineral Resource Estimate (“MRE”).
“The objectives of the 2023 Martiniere explorat ion 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 nu mber of grassroots exploration targets within a few
kilometres of Martiniere. These represent attractive future exploration targets for potential resource
growth,” said Attila Péntek, Wallbridge’s Vice President, Exploration
Highlights
• Martiniere Southwest Extension (Target M4):
MR-23-052: 10.73 g/t Au over 3.00 metres,
including 26.50 g/t Au over 1.10 metres;
MR-23-049: 9.09 g/t Au over 0.50 metres;
• Martiniere Dragonfly Zone (formerly Eastern Extension, Target M1):
MDE-17-289: 3.21 g/t Au over 4.20 metres,
including 8.23 g/t Au over 1.50 metres;
MDE-17-289: 3.76 g/t Au over 2.30 metres;
• These intersections, along with others released on June 8, 2023, expand the known footprint
of the Martiniere gold system by 250-300 m to the southwest and east;
• Assay results from e xploration drilling confirmed gold mineralization in t hree grassroots
targets; results from four other grassroots targets are still pending.
Martiniere 2023 Drill Program
The main objectives of the 2023 exploration program at Martiniere were to expand the known
footprint of the Martiniere gold system throug h 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 (see
Figures 1 and 2). Wallbridge has now completed its 2023 M artiniere 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, M 6, 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 (see Tables 1 and 2), with results for the last nine holes currently pending.
Expansion Drilling Results
Target M1 – Dragonfly Zone
Positive assay results received for hole MDE-17-289 (extension), collared 200 metres south of hole
MR-23-041 (which intersected 5.15 g/t Au over 4.00 metres , see press release dated June 8,
2023), continued to expand the mineralized footprint of the Dragonfly Zone (previously referred to
as Eastern Extension) to the east of the Martiniere deposit (Target M1 area; Figure 3). Two
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subsequent drill holes in the same target area also intersected large intervals of felsic intrusive rocks
similar to the Bug Lake Porphyry, one of the main host -rocks for gold mineralization at Martiniere
(assay results pending). Current work aims to refine the geological interpretation and understanding
of the controls on gold mineralization at the Dragonfly Zone.
Target M4 – Martiniere Southwest Extension
Drilling at T arget M4 aimed to evaluate the continuation of the Martiniere West zones to the
southwest (see Figure 3). Assay results received for holes MR -23-049 and MR-23-052 (see Table
1), showed the presence of significant gold mineralization several hundred metres from the existing
MRE footprint. Most importantly, these holes continued to intersect favorable geology and alteration,
thereby providing a key target for future resource expansion drilling.
Target M3 – New Zone at Depth
At Target M3, hole MR -23-043 was designed to test the Horsefly Zone near surface and then
continue to test the Bug Lake North area at depth, undercutting the existing drilling by over 300 m.
The geology intersected in this hole was diff erent than the drilling above, however, the broad
mineralization present between 755.50 and 782.10 metres (grading 0.45 g/t Au over 26.60 metres)
indicates the continuation of strong gold-bearing fluid flow pathways at depth in this area.
Table 1. Recent expansion drilling assay results
Table 1. Martiniere Gold Property, Recent Expansion Drill Assay Highlights (1,4)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
Target M1- Dragonfly (formally Eastern Extension)
MDE-17-289 440.00 444.20 4.20 3.21 3.21 Dragonfly
Including… 440.00 441.50 1.50 8.23 8.23 Dragonfly
MDE-17-289 458.50 460.00 1.50 1.58 1.58 Dragonfly
MDE-17-289 617.50 621.50 4.00 1.15 1.15 Dragonfly
Including… 619.50 621.50 2.00 1.89 1.89 Dragonfly
MDE-17-289 671.90 672.50 0.60 8.83 8.83 Dragonfly
MDE-17-289 694.50 696.00 1.50 2.36 2.36 Dragonfly
MDE-17-289 772.50 774.00 1.50 1.42 1.42 Dragonfly
MDE-17-289 777.50 778.50 1.00 6.18 6.18 Dragonfly
MDE-17-289 890.00 893.00 3.00 1.92 1.92 Dragonfly
Including… 891.00 892.00 1.00 4.14 4.14 Dragonfly
MDE-17-289 908.70 911.00 2.30 3.76 3.76 Dragonfly
Including… 908.70 910.05 1.35 5.64 5.64 Dragonfly
MDE-17-289 917.50 920.50 3.00 1.48 1.48 Dragonfly
Target M2 & M3- Horsefly Zone & Bug Lake Deep
MR-23-043 299.50 301.00 1.50 1.04 1.04 Horsefly
MR-23-043 554.50 556.00 1.50 2.88 2.88 New Zone
MR-23-043 625.85 629.70 3.85 0.88 0.88 New Zone
Including… 625.85 628.00 2.15 1.03 1.03 New Zone
MR-23-043 643.70 644.70 1.00 1.42 1.42 New Zone
MR-23-043 755.50 782.10 26.60 0.45 0.45 New Zone
MR-23-043 880.80 881.90 1.10 0.91 0.91 New Zone
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Table 1. Martiniere Gold Property, Recent Expansion Drill Assay Highlights (1,4)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
Target M4- Martiniere Southwest Extension
MR-23-049 52.50 53.00 0.50 9.09 9.09 VG New Zone
MR-23-049 268.00 271.50 3.50 1.09 1.09 Martiniere West Extension
Including… 268.00 269.00 1.00 2.95 2.95 Martiniere West Extension
MR-23-049 471.50 472.50 1.00 1.03 1.03 Martiniere West Extension
MR-23-052 413.25 416.25 3.00 10.73 10.73 Martiniere West Extension
Including… 413.25 414.35 1.10 26.50 26.50 Martiniere West Extension
Target M10- Martiniere North and Central
MR-23-056 193.00 194.40 1.40 1.25 1.25 New Zone
MR-23-056 259.50 261.00 1.50 0.85 0.85 New Zone
MR-23-056 292.25 293.60 1.35 1.17 1.17 New Zone
Note: There is currently insufficient information available from these new zones to estimate true widths of intersections.
(1) The table includes only assay results received since the latest press release dated June 8, 2023.
(2) Au cut: 25 g/t Au for New Zones, 40 g/t Au for Martiniere West Extension, and 45 g/t Au for Dragonfly.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 1.0 g/t*m.
Grassroots Exploration Drilling Results
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.
At Target M5, drilling intersected new gold mineralization in Timiskaming-type conglomerate along
the Sunday Lake Deformation Zone, indicating that this rock type may be a potential host rock in
this belt, similar to other mining camps in the Southern Abitibi.
At targets M7 and M9, gold mineralization was intersected along the Lac Du Doigt deformation zone,
which along with other historic intersections (including 7.05 g/t Au over 2.21 metres and 5.04 g/t
Au over 1.43 metres), confirming that this fault zone extending several kilometres acted as a gold-
bearing fluid pathway.
At target M8, a previously unknown diorite body was intersected in MR-23-050 over several hundred
metres with occasional anomalous gold mineralization. At Fenelon, the Jeremie Diorite is an
important unit for gold mineralization at the deposit, and as such the intersection of this unit at
Martiniere represents a new geological target.
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Table 2. Recent grassroots exploration drilling assay results
Table 2. Martiniere Gold Property, 2023 Greenfields Drill Assay Highlights (1,4)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
Target M5- Sunday Lake Deformation Zone
MR-23-044 144.00 145.00 1.00 1.48 1.48 New Zone
MR-23-045 79.00 80.50 1.50 1.60 1.60 New Zone
MR-23-045 225.00 231.40 6.40 0.73 0.73 New Zone
Including… 225.00 227.70 2.70 1.07 1.07 New Zone
Target M6- Upper Sunday Lake Deformation Zone Splay
MR-23-046 No Significant Mineralization
Target M7- Lac Du Doigt West
MR-23-047 No Significant Mineralization
MR-23-048 254.00 257.85 3.85 1.48 1.48 New Zone
Including… 254.00 255.00 1.00 4.82 4.82 New Zone
MR-23-053 No Significant Mineralization
MR-23-054 No Significant Mineralization
Target M8- Martiniere North Extension
MR-23-050 No Significant Mineralization
MR-23-051 No Significant Mineralization
Target M9- Lac Du Doigt East
MR-23-057 177.50 180.50 3.00 0.72 0.72 New Zone
Including… 179.00 180.50 1.50 0.96 0.96 New Zone
Note: There is currently insufficient information available from these new zones to estimate true widths of
intersections.
(1) The table includes only assay results received since the latest press release dated June 8, 2023.
(2) Au cut: 25 g/t Au for New Zones.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 1.0 g/t*m.
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Figure 1. Wallbridge’s Detour-Fenelon Gold Trend land package and 2023 priority exploration target areas.
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Figure 2. Martiniere Gold Project
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Figure 3. Martiniere Gold Project, Plan View
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Assay QA/QC and Qualified Persons
Drill core samples from the ongoing drill program on the Detour-Fenelon Gold Trend Property are
cut and bagged either on- site or by contractors and transported to SGS Canada Inc. for analysis.
Samples, including standards and blanks 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.
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 this press release is Christopher Kelly,
M.Sc., P.Geo., Senior Geologist of Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of
gold projects along the Detour- Fenelon Gold Trend while respecting the environment and
communities where it operates.
Wallbridge’s flagship project, Fenelon Gold (“ Fenelon”), is located on the highly prospective
Detour-Fenelon Gold Trend Property in Québec’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 locat ed within an 830 km 2 exploration land package controlled by Wallbridge. In
addition, Wallbridge believes that the extensive land package is extremely prospective for the
discovery of additional gold deposits.
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 (see Wallbridge press release of June 26, 2023).
Wallbridge also holds a 19.9% interest in the common shares of Archer Exploration Corp. (“Archer”)
as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec in November
of 2022.
Wallbridge will continue to focus on its core Detour- Fenelon Gold Trend Property while enabling
shareholders to participate in the potential economic upside in Archer.
For further information please visit the Company’s website at https://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]
Victoria Vargas, B.Sc. (Hon.) Economics, MBA