Wallbridge Further Expands Gold Mineralization to the East and Northwest at Fenelon with 11.60 g/t Au over 14.05 metres and 9.00 g/t Au over 10.00 metres
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 Further Expands Gold Mineralization to the East and Northwest at Fenelon with
11.60 g/t Au over 14.05 metres and 9.00 g/t Au over 10.00 metres
Toronto, Ontario – September 15, 2021 – Wallbridge Mining Compa ny Limited (TSX:WM)
(“Wallbridge” or the “Company”) is pleased to announce that exploration drilling on the Fenelo n Gold
Property (“Fenelon” or the “Property”) continues to successfully expand gold mineralization with high-
grade intersections at both the eastern and northwestern edges of the area tested by resource drilling to date.
In the northwest, exploration drilling has successfully expanded the footprint of Area 51, with near surface
intersections including 11.60 g/t Au over 14.05 metres in FA-21-297.
In the east, exploration drilling to follow-up the discovery hole of the Gabbro Zones, East Extension (17.79
g/t Au over 16.60 metres in drill hole FA-21-219, see Wallbridge news release dated April 29, 2021), has
confirmed the presence of strong gold mineralization, with the first follow-up hole (FA-21-305) returning
9.00 g/t Au over 10.00 metres. Assays for the remaining three holes drilled to the east are pending.
“We continue to be impressed by the expansion potential at Fenelon and are now, with all drilling required
for our maiden mineral resource estimate (“MMRE”) completed, excited to ramp-up our exploration
drilling efforts to confirm extensions of known gol d zones and to discover new zones. The drilling results
in this news release represent high-grade gold mine ralization on the edges of our known mineralized
footprint and highlight the excellent potential for futu re resource growth at Fenelon,” stated Marz Kord,
President & CEO of Wallbridge.
The MMRE for Fenelon, along with the updated resource estimate for Martiniere, are well underway and
nearing completion. The prolonged assay turn-around times due to high volumes experienced industry-wide
has delayed the receipt of critical assay results in support of the MMRE. The Company now expects to
announce the mineral resource statements by the end of October.
With the resource drilling in support of the MMRE completed, Wa llbridge has ramped up its exploration
program at Fenelon to continue expanding the footprint of the k nown gold system and discover additional
gold zones in the vicinity of the Fenelon deposit. Regional dri lling on the Company’s extensive,
underexplored land package is also underway with two drill rigs currently focusing on resource expansion
drilling at Martiniere and testi ng grassroots exploration targe ts on the adjacent Casault Property (see
Wallbridge news release dated July 22, 2021).
Area 51, Exploration Drill Results
Exploration drilling continues to expand the footprint of Area 51, especially toward the west-northwest,
where much of the major host ro ck, the Jeremie Diorite, remains untested. The following two recent
highlight intersections from this area occur near surface, at v ertical depths of 35-45 metres (FA-21-297)
and 110-115 metres (FA-21-272):
FA-21-297 11.60 g/t Au over 14.05 metres , including
201.00 g/t Au over 0.50 metres, and
117.00 g/t Au over 0.50 metres (see Figs. 1 and 3);
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FA-21-272 3.16 g/t Au over 9.00 metres , including
13.20 g/t Au over 1.50 metres (see Figs. 1 and 3);
Gabbro Zones, East Extension, Exploration Drill Results
Four drill holes were drilled this summer to follow-up on the G abbro Zones, East Extension discovery in
drill hole FA-21-219, which yielded 17.79 g/t Au over 16.60 metres (see Wallbridge news release dated
April 29, 2021). All of the holes intersected alteration and mineralization characteristic of the gold-bearing
system.
Assay results of an intersection in the first follow-up drill hole (FA-21-305), representing an approximately
120-metre overcut to the original FA-21-219 discovery, confirm the presence of a high-grade mineralized
zone in this area:
FA-21-305 9.00 g/t Au over 10.00 metres , including
18.56 g/t Au over 3.35 metres (see Figs. 1 and 2);
Assay results for the other three holes are still pending.
2021 Drilling Program Update
In 2021, the Company is planning to complete between 150,000 to 170,000 metres of drilling, including
20,000 to 25,000 metres devoted to regional exploration on the Company’s district-scale, underexplored
land package on the Detour-Fenelon Gold Trend.
Assay results of eight drill holes of the 2021 exploration drill program are reported in the Table and Figures
below. All figures and a table with drill hole information of r ecently completed holes are posted on the
Company’s website under “Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.
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Figure 1. Fenelon Gold, Plan View
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Figure 2. Fenelon Gold, Tabasco-Cayenne-Gabbro Zones Long Section
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Figure 3. Fenelon Gold, Cross Section 9500_E
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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 Section
(m) (m) (m) (g/t) (g/t)
FA‐21‐262 122.40 122.90 0.50 20.60 20.60 VG Area 51 9500
FA‐21‐262 204.10 208.00 3.90 1.44 1.44 Area 51 9500
FA‐21‐262 221.80 242.50 20.70 0.72 0.72 Area 51 9500
FA‐21‐267 245.40 261.10 15.70 0.73 0.73 Area 51 9500
Including… 245.40 246.40 1.00 5.23 5.23 Area 51 9500
FA‐21‐267 284.00 289.00 5.00 1.03 1.03 Area 51 9500
FA‐21‐270 286.20 286.70 0.50 43.10 43.10 VG Area 51 9500
FA‐21‐272 125.50 134.50 9.00 3.16 3.16 Area 51 9500
Including… 133.00 134.50 1.50 13.20 13.20 Area 51 9500
FA‐21‐276 No Significant Mineralization (4) 9600 & 9500
FA‐21‐286 No Significant Mineralization (4) 9375
FA‐21‐297 38.65 52.70 14.05 11.60 3.84 VG Area 51 9500
Including… 38.65 39.15 0. 50 201.00 50.00 VG Area 51 9500
And… 47.70 48.20 0.50 117.00 50.00 VG Area 51 9500
FA‐21‐297 89.15 90.35 1.20 9.55 9.55 VG Area 51 9500
FA‐21‐305 232.00 242.00 10.00 9.00 9. 00 VG Gabbro Zones‐ East Extension 10800
Including… 236.50 239.85 3.35 18. 56 18.56 VG Gabbro Zones‐ Eas t Extension 10800
(1) Table includes only assay results received since the latest press release dated August 5, 2021.
(2) Au cut at: 100 g/t Au for the Tabasco/Contact zones; 60 g/t Au for the Cayenne zones; 50 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 1 g/t Au.
Note: True widths are estimated to be 50‒80% of the reported core length intervals.
Assay QA/QC and Qualified Persons
Drill core samples from the ongoing 2021 drill program at Fenel on are cut and bagged either on site or by
contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities
Canada Ltd. for analysis. In 2020 samples were submitted to either SGS Canada Inc. or ALS 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 sampl es are analyzed by fire assay and AAS. At
SGS, AGAT and Bureau Veritas samples >10g/t Au are automaticall y analyzed by fire assay with
gravimetric finish or screen metallic analysis. To test for coa rse free gold and for additional quality
assurance and quality control, Wallbridge requests screen metal lic analysis for samples containing visible
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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 Peter Lauder, P.Geo,
Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is currently advancing the exploration and developme nt of its 100%‒owned Fenelon Gold
property which is located along the Detour‒Fenelon Gold Trend, an emerging gold belt in northwestern
Québec. The Company completed approximately 102,000 metres of d rilling in 2020 and currently
conducting a fully‒funded 2021 program of approximately 150,000 to 170,000 metres of drilling and 2,500
metres of underground explorati on development (Phase 1 of a 10, 000‒metre program). The Company
intends to complete a maiden mineral resource estimate on the Fenelon Gold System in October, 2021.
Wallbridge now holds several kilometres surrounding its rapidly expanding Fenelon discovery providing
room for growth, as well as future mine development flexibility . Wallbridge's land holdings in Québec
along the Detour‒Fenelon Gold Trend are over 900.0 km 2, improving Wallbridge's potential for further
discoveries for over 90‒kilometre strike length in this underexplored belt.
Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately‒held
company with a portfolio of nickel, copper, and platinum‒group metals (PGM) projects in Ontario's
Sudbury Basin.
This news release has been authorized by the undersigned on beh alf of Wallbridge Mining Company
Limited.
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]
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: [email protected]
This press release may contain certain “forward‒looking statements” within the meaning of applicable Canadian
securities legislation relating to, among other things, the operations of Wallbridge Mining Company Limited
(“Wallbridge” or “Company”) and the environment within which it operates. All statements, other than statements
of historical fact, included herein, including, without limitation, statements regarding future plans and objectives
of Wallbridge, future opportunities and anticipated goal s, the Company’s portfolio, treasury, management team,
timetable to mineral resource estimation, permitting and th e prospective mineralization of the properties, are
forward‒looking statements that involve various risks, assumptions, estimates and uncertainties. Generally,
forward‒looking information can be iden tified by the use of forward ‒looking terminology such as “seeks”,
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taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those anticipated in such statements.
By their nature, forward‒looking statements involve numerous assumptions, inherent risks and uncertainties, both
general and specific, that contribute to the possibility that the predicted outcomes could differ materially from those
contained in such statements. These risks and uncertainties include, but are not limited to, delays in obtaining or
failures to obtain required governmental, regulatory, environmental or other required approval, the actual results
of current exploration activities, fluctu ations in prices of commodities, fluc tuations in currency markets, actual
results of additional exploration and development activities at the Company’s projects, capital expenditures, the
availability of any additional capital required to advance projects, accidents, or pandemic interruptions.
Although the Company has attempted to identify important factors that coul d cause actual results to differ
materially from those contained in forward‒looking information, there may be other factors that cause results not
to be as anticipated, estimated or intended. These statemen ts reflect the current internal projections, expectations
or beliefs of the Company and are based on information currently available to the Company.
The Company does not undertake to update any forward ‒looking information, except in accordance with
applicable securities laws. The Company believes th at the expectations reflected in those forward ‒looking
statements are reasonable but no assurance can be given that these expectations will prove to be correct and such
forward‒looking statements included in this press release should not be unduly relied upon by investors as actual
results may vary.
Risks and uncertainties about Wallbridge’s business are more fully discussed in the disclosure material filed with
the securities regulatory authorities in Canada and available on SEDAR under the Company’s profile at
www.sedar.com. Readers are urged to read these material s and should not place undue reliance on the forward ‒
looking statements contained in this press release.
Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID ‒19) pandemic, Wallbridge is actively
monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect
the health of its personnel. Wallbridge' activities will co ntinue to align with the guidance provided by local,
provincial and federal authorities in Canada. The Company has established measures to continue normal activities
while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures
may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside
Canada.