Wallbridge In-Fill Sampling Program Successfully Adds New Gold Mineralization Within Fenelon Mineral Resource Footprint
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 In-Fill Sampling Program Successfully Adds New Gold Mineralization Within Fenelon
Mineral Resource Footprint
Toronto, Ontario – June 7, 2022 – Wallbridge Mining Company Limited (TSX: WM,
OTCQX:WLBMF) (“Wallbridge” or the “Company”) today report ed positive assay results from its
ongoing in-fill sampling program, which aims to analyze previously unsampled intervals of drill core with
the objective of adding new gold mineralization within the known footprint of the Fenelon Gold project
(“Fenelon”).
“In addition to our ongoing resource drilling campaign aimed at expanding mineral resources at Fenelon,
we are also executing a systematic program to sample core sections from previously drilled holes that had
not been sampled and assayed in order to identify additional gold mineralization within the existing resource
footprint as outlined in the 2021 mineral resource estimate (“MRE”),” said Attila Péntek, Wallbridge’s Vice
President, Exploration. “In the past, we focused our core sampling on visibly mineralized zones. Subsequent
work has increased our confidence in the potential for bulk mining at Fenelon and, a s a result we have
revisited these previously unsampled intervals and identified a series of strong intersections adjacent to or
within areas of the MRE block model that were previously considered to be waste in the MRE.”
The Company has identified more than 50,000 metres of previously unsampled drill core and has prioritized
approximately 30,000 metres for sampling by the third quarter of 2022, focusing on intervals that occur within
or adjacent to known mineralized zones. To date, approximately 11,245 samples (representing approximately
14,880 metres) of previously unsampled drill core have been submitted for analysis as part of the 2022 in-fill
program, of which results for 7,923 samples have been received.
Highlights from the in-fill sampling program of previously unsampled drill core intervals released today
include the following:
19-0915-020 44.50 g/t Au over 1.50 metres within the Andromeda 04 zone of Area 51,
outside the 2021 MRE block model.
19-0915-024 0.51 g/t Au over 22.85 metres within the Andromeda 05 zone of Area 51,
adjacent to and within the 2021 MRE block model.
19-0915-025 8.50 g/t Au over 1.45 metres within the Contact Zone, adjacent to the
2021 MRE block model.
19-0915-025 7.54 g/t Au over 1.50 metres within Area 51, outside the 2021 MRE block
model.
19-0925-009 0.53 g/t Au over 50.80 metres (includes previously released assays from
Nov. 14, 2019), including
1.30 g/t Au over 4.09 metres within the Contact Zone, within the 2021
MRE block model.
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FA-19-056 1.05 g/t Au over 11.08 metres, including
3.62 g/t Au over 2.00 metres within the Tabasco Zone, adjacent to and
within the 2021 MRE block model.
FA-19-063 1.06 g/t Au over 12.00 metres (includes previously released assays from
July 9, 2019), including
4.18 g/t Au over 1.50 metres within the Tabasco Zone, adjacent to and
within the 2021 MRE block model.
FA-19-099 1.32 g/t Au over 11.70 metres (includes previously released assays from
Jan. 20, 2020), including
8.33 g/t Au over 1.50 metres within Area 51, adjacent to the 2021 MRE
block model.
FA-20-126 6.68 g/t Au over 1.50 metres within Area 51, outside the 2021 MRE block
model.
FA-20-128 4.64 g/t Au over 3.20 metres, including
8.09 g/t Au over 1.50 metres within Area 51, outside the 2021 MRE block
model.
FA-20-188 6.68 g/t Au over 1.50 metres within the Contact Zone, adjacent to the
2021 MRE block model.
The 2022 in-fill assay results from 18 drill holes 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 under
“Current Program” at https://www.wallbridgemining.com/s/fenelon.asp.
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Figure 1. Fenelon Gold, Drill Core In-Fill Sampling Program, Plan View
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Figure 2. Fenelon Gold, Drill Core In-Fill Sampling Program, Vertical Sections
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Table 1. Wallbridge Fenelon Gold Property, 2022 In-fill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
19-0915-018 347.44 365.90 18.46 0.36 0.36 Contact Zone
19-0915-019 162.55 169.50 6.95 0.90 0.90 Tabasco
19-0915-020 323.50 325.00 1.50 44.50 44.50 Area 51
19-0915-024 350.50 353.00 2.50 2.98 2.98 Area 51
19-0915-024 424.15 447.00 22.85 0.51 0.51 Area 51
19-0915-025 229.85 231.30 1.45 8.50 8.50 Contact Zone
19-0915-025 331.50 333.00 1.50 7.54 7.54 Area 51
19-0925-009* 317.20 368.00 50.80 0.53 0.53 Contact Zone
Including… PR'ed
Nov. 14, 2019
319.43 328.76 9.33 1.13 1.13 Contact Zone
Which
Includes…PR'ed
Nov. 14, 2019
319.43 322.17 2.74 1.59 1.59 Contact Zone
Which
Includes…PR'ed
Nov. 14, 2019
327.00 328.76 1.76 3.29 3.29 Contact Zone
Including…PR'ed
Nov. 14, 2019
332.55 333.00 0.45 1.34 1.34 Contact Zone
And…PR'ed Nov.
14, 2019
334.06 334.57 0.51 1.06 1.06 Contact Zone
Including…PR'ed
Nov. 14, 2019
336.00 337.36 1.36 1.43 1.43 Contact Zone
And…PR'ed Nov.
14, 2019
351.43 352.33 0.90 1.08 1.08 Contact Zone
Including… 354.91 359.00 4.09 1.30 1.30 Contact Zone
And…PR'ed Nov.
14, 2019
367.58 368.00 0.42 4.04 4.04 Contact Zone
FA-19-056 344.00 355.08 11.08 1.05 1.05 Tabasco
Including… 344.00 346.00 2.00 3.62 3.62 Tabasco
FA-19-063* 567.00 579.00 12.00 1.06 1.06 Tabasco
Including…PR'ed
July 09, 2019 567.00 568.12 1.12 1.00 1.00 Tabasco
Including… 574.50 576.00 1.50 4.18 4.18 Tabasco
FA-19-076 390.50 398.50 8.00 0.64 0.64 Tabasco
FA-19-099* 384.64 390.00 5.36 1.31 1.31 Area 51
Including… 384.64 386.00 1.36 3.92 3.92 Area 51
And…PR'ed Jan.
20, 2020 389.49 390.00 0.51 1.54 1.54 Area 51
FA-19-099* 424.08 435.78 11.70 1.32 1.32 Area 51
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Table 1. Wallbridge Fenelon Gold Property, 2022 In-fill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor
(m) (m) (m) (g/t) (g/t)
Including… 424.08 425.58 1.50 8.33 8.33 Area 51
And…PR'ed Jan.
20, 2020 435.00 435.78 0.78 2.91 2.91 Area 51
FA-19-106 394.50 403.85 9.35 0.62 0.62 Area 51
FA-20-107 703.00 704.50 1.50 3.54 3.54 Tabasco
FA-20-126 610.00 611.50 1.50 6.68 6.68 Area 51
FA-20-128 505.00 506.35 1.35 3.69 3.69 Area 51
FA-20-128 558.00 561.20 3.20 4.64 4.64 Area 51
Including… 558.00 559.50 1.50 8.09 8.09 Area 51
FA-20-148-W1-
W1 553.00 562.00 9.00 0.85 0.85 Area 51
FA-20-188 516.10 526.40 10.30 0.53 0.53 VG Area 51
FA-20-188 752.50 754.00 1.50 6.68 6.68 Contact Zone
FA-20-207 156.00 175.95 19.95 0.38 0.38 Area 51
FA-21-230 385.00 388.00 3.00 2.63 2.63 Area 51
(1) Table includes only assay results received since the latest press release dated May 30th, 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 open pit model
and 1.5 g/t Au for below open pit model.
* Results reported here contain previously announced intervals that were extended with new assay results.
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 drill program at Fenelon are cut and bagged either on-site or by
contractors and transported to SGS Canada Inc. or Bureau Veritas 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 this press release is Christopher Kelly, MSc,
Senior Geologist of Wallbridge.
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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 located in established mining jurisdictions within
Canada. Wallbridge’s flagship project, Fenelon, is located on the 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 million ounces of inferred resources. Fenelon
and Martiniere, located within a 910 -square-kilometre exploration 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 propertie s,
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”, “scheduled”, “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”, “will”, “could”, “would”, “should” or “might”, “be taken”,
“occur” or “be achieved.”
FLI herein includes, but is not limited to: future drill results; 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 (each 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
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risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company
to be materially different from any future re sults, performance or achievements expressed 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 shareholders 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 Company 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
the date of this press release . Accordingly, you should not place undue reliance on the FLI or information contained
herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, inc lude: the ability of exploration activities to accurately
predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration
activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or
methods used to estimate the MREs; the ability of the Company to obtain required approvals; the results of exploration
activities; the evolution of the global economic climate; metal prices; environmental expectations; community and non-
governmental actions; and any impacts of COVID-19 on the Deposits, the Company’s financial position, the Company’s
ability to secure required funding, or operations. Risks and uncertainties about Wallbridge's business are more fu lly
discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at
www.sedar.com.
Covid‒19 ‒ Given the rapidly evolving nature of the Coronavirus (COVID‒19) pan demic, 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’s activities will continue 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.
Information Concerning Estimates of Mineral Resources
The disclosure in this press release and referred to herein was prepared in accordance with NI 43-101 which differs
significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured
mineral resource", "indicated mineral resource" and "inferred mineral resource" used in this press release are in
reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the
"CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained
in this press release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable
to similar information made public by other U.S. companies subject to the United States federal securities laws and the
rules and regulations thereunder.
Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves.
Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which
quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological
evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource
has a lower level of confidence than that applying t o an indicated mineral resource and must not be converted to a
mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded
to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or pre -feasibility studies, except in rare cases. Investors are cautioned
not to assume that all or any part of an inferred mineral resource is economically or legally mi neable. Disclosure of
"contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only