Wallbridge Phase 1 Drilling at Martiniere Encounters Multiple High- Grade Vein Structures and Confirms Grade Continuity in Known Mineralized Zones
Wallbridge Phase 1 Drilling at Martiniere Encounters Multiple High-
Grade Vein Structures and Confirms Grade Continuity in Known
Mineralized Zones
Toronto, Ontario – July 31, 2024 – Wallbridge Mining Company Limited (TSX: WM,
OTCQB:WLBMF) (“Wallbridge” or the “ Company”) today announced that assay results from the
9,000 metre Phase 1 drilling program at its 100% owned Martiniere gold project (“Martiniere”) confirm
the presence of high-grade gold mineralization in multiple sulfide vein assemblages and further define
the continuity of mineralization and gold grades at the Bug Lake North, Bug Lake South and Martiniere
West zones.
Highlights
♦ Intersected multiple zones of pyritic sulfide veining hosting high- grade gold mineralization
including:
44.63 g/t Au over 1.1 metres, 8.52 g/t Au over 1.5 metres, and 27.48 g/t Au over 1.0 metre in
hole MR-24-066 testing the Bug Lake North zone.
8.40 g/t Au over 1.5 metres in hole MR-24-070, as well as 9.47 g/t Au over 0.9 metres and
4.62 g/t Au over 2.4 metres in hole MR-24-071A testing the Bug Lake South zone.
3.14 g/t Au over 3.4 metres in hole MR-24-086 testing the Martiniere West zone.
♦ Confirmed gold distribution and grade continuity across broad widths in the Bug Lake North,
Bug Lake South, and Martiniere West zones:
24.3 metres averaging 1.62 g/t Au in hole MR-24-068 including 1.6 metres averaging 13.53
g/t Au at Bug Lake North.
21.1 metres averaging 2.15 g/t Au in hole MR-24-085 at Bug Lake South.
6.5 metres averaging 2.87 g/t Au in hole MR-24-074 at Martiniere West.
Wallbridge’s CEO Brian Penny remarked: "The successful completion of our Martiniere Phase 1 drilling
program marks an important milestone in advancing the project. With geotechnical characterization
studies and metallurgical testing well underway, our focus now shifts to exploring extensions along the
known gold -bearing trends toward newly identified satellite targets , including the Dragonfly and
Horsefly zones. These targets present excellent potential for expanding the Martiniere resource base.
We are excited about the significant upside potential at Martiniere and Fenelon and look forward to
sharing later this year the results of the ongoing metallurgical and geotechnical rock mass
characterization studies."
A 185-kilogram composite sample has been collected from the Phase 1 drill program and sent to SGS
Lakefield Mineral Services for metallurgical tests, including gold recoveries. In addition, approximately
4,550 metres of drilling was surveyed using a downhole optical and acoustic televiewer probe for a
geotechnical rock mass characterization study being carried out by WSP Consulting.
The Company is also commencing a 6,000 metre Phase 2 Martiniere drilling program designed to test
potential extensions of the mineralized gold trends identified through recent ly completed re-
interpretation of deposit geology and mineralization controls. The re-interpretation was completed by
the Company’s exploration team working in collaboration with independent consultants specializing in
structural geology, mineral deposit modeling and resource estimation.
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Additional highlights from the 2024 Martiniere Phase 1 drilling program are provided in the table of
summarized assay highlights below. For more information, including a drill hole location map and
representative cross-sections, please refer to the link provided here:
Martiniere Gold Project: 2024 Phase 1 Drill Hole Location Map and Cross-Sections
Martiniere Gold Project: 2024 Phase 1 Drill Assay Highlights
Drill Hole From To Length Au
(m) (m) (m) (g/t)
BUG LAKE NORTH
MDE-14-145_ext'n 195.3 195.8 0.5 10.50
225.7 230.0 4.3 1.36
Including 225.7 226.4 0.7 5.56
226.4 229.0 2.6 0.30
229.0 230.0 1.0 1.15
274.5 277.5 3.0 2.86
MR-24-066 111.0 116.1 5.1 2.45
267.0 278.2 11.2 1.97
Including 267.0 274.5 7.5 2.06
274.5 277.3 2.8 0.08
277.3 278.2 0.9 6.76
319.5 323.9 4.4 2.37
Including 319.5 320.8 1.3 1.83
320.8 322.4 1.6 0.05
322.4 323.9 1.5 5.46
344.8 345.9 1.1 44.63
454.5 456.0 1.5 8.52
467.7 468.7 1.0 27.48
476.5 482.3 5.8 1.96
Including 476.5 478.5 2.0 4.02
478.5 482.3 3.8 0.87
488.7 494.0 5.3 2.56
Including 488.7 489.5 0.8 7.73
489.5 492.8 3.3 1.16
492.8 494.0 1.2 2.97
MR-24-068 162.5 167.4 4.9 1.32
193.0 196.0 3.0 2.05
219.7 244.0 24.3 1.62
Including 219.7 220.2 0.5 5.96
220.2 227.0 6.8 0.21
227.0 228.0 1.0 1.20
228.0 232.0 4.0 0.30
232.0 233.4 1.4 1.12
233.4 233.9 0.5 5.53
233.9 236.9 3.0 0.41
236.9 240.8 3.9 1.18
240.8 242.4 1.6 0.10
242.4 244.0 1.6 13.53
360.0 369.0 9.0 3.88
Including 360.0 361.1 1.1 23.34
361.1 366.5 5.4 0.43
366.5 369.0 2.5 2.77
411.0 412.5 1.5 3.33
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Martiniere Gold Project: 2024 Phase 1 Drill Assay Highlights
Drill Hole From To Length Au
(m) (m) (m) (g/t)
529.6 530.1 0.5 9.90
MR-24-073 * 54.4 55.7 1.3 11.16
Including 54.4 55.2 0.8 1.15
* 55.2 55.7 0.5 24.81
64.0 72.0 8.0 5.32
Including 64.0 68.0 4.0 2.58
68.0 69.0 1.0 11.32
69.0 71.0 2.0 1.32
71.0 72.0 1.0 18.33
MR-24-075 82.0 84.5 2.5 4.45
Including 82.0 83.5 1.5 6.24
83.5 84.5 1.0 1.77
137.0 139.3 2.3 3.16
Including 137.0 138.5 1.5 0.54
138.5 139.3 0.8 8.09
166.0 169.0 3.0 5.23
Including 166.0 168.0 2.0 0.68
168.0 169.0 1.0 14.33
MR-24-079 103.5 104.2 0.7 19.40
146.5 147.3 0.8 20.10
MR-24-088A 217.2 229.0 11.8 1.66
Including 217.2 220.0 2.8 2.25
220.0 223.0 3.0 0.38
223.0 224.2 1.2 2.06
224.2 226.7 2.5 0.04
226.7 229.0 2.3 4.08
378.5 383.8 5.3 2.31
420.3 428.9 8.6 2.86
Including 420.3 426.0 5.7 1.17
426.0 428.9 2.9 6.25
BUG LAKE SOUTH
MDE-17-286_ext'n No Significant Results
MDE-21-331_ext'n No Significant Results
MR-24-070 460.5 462.0 1.5 8.40
MR-24-071A 630.0 630.9 0.9 9.47
644.3 646.7 2.4 4.62
Including 644.3 645.0 0.7 4.71
645.0 646.0 1.0 2.70
646.0 646.7 0.7 7.47
MR-24-072 532.0 533.0 1.0 6.37
MR-24-077 * 354.3 354.9 0.6 18.73
MR-24-083 No Significant Results
MR-24-085 267.0 271.0 4.0 2.48
284.5 305.6 21.1 2.15
Including 284.5 294.0 9.5 1.59
294.0 295.1 1.1 9.05
295.1 299.0 3.9 0.69
299.0 300.0 1.0 5.14
300.0 304.5 4.5 1.57
304.5 305.6 1.1 4.92
329.5 331.9 2.4 2.23
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Martiniere Gold Project: 2024 Phase 1 Drill Assay Highlights
Drill Hole From To Length Au
(m) (m) (m) (g/t)
MARTINIERE CENTRAL & WEST
MR-24-067 285.0 289.0 4.0 2.92
Including 285.0 286.0 1.0 5.40
286.0 287.0 1.0 0.11
287.0 289.0 2.0 3.08
MR-24-069 No Significant Results
MR-24-074 75.0 81.5 6.5 2.87
Including 75.0 75.5 0.5 14.30
75.5 76.5 1.0 4.60
76.5 77.0 0.5 0.60
77.0 78.0 1.0 0.16
78.0 79.5 1.5 2.19
79.5 80.5 1.0 0.82
80.5 81.5 1.0 2.35
MR-24-076 69.6 74.4 4.8 3.36
Including 69.6 70.5 0.9 8.11
70.5 72.5 2.0 1.09
72.5 74.4 1.9 3.50
MR-24-078 No Significant Results
MR-24-080 No Significant Results
MR-24-081A No Significant Results
MR-24-082 No Significant Results
MR-24-084 219.5 223.0 3.5 2.49
Including 219.5 220.7 1.2 1.20
220.7 222.0 1.3 0.07
222.0 223.0 1.0 7.19
259.6 261.7 2.1 3.08
Including 259.6 260.6 1.0 5.48
260.6 261.2 0.6 0.01
261.2 261.7 0.5 1.65
MR-24-086 304.6 308.0 3.4 3.14
Including 304.6 305.6 1.0 2.95
305.6 306.3 0.7 7.04
306.3 308.0 1.7 1.65
387.9 388.5 0.6 11.70
MR-24-087 115.3 117.5 2.2 2.58
Including 115.3 116.4 1.1 4.23
116.4 116.9 0.5 0.05
116.9 117.5 0.6 1.66
Notes: 1. True widths are estimated to be within 60% to 90% of reported core intercept lengths
2. Highlighted intervals are based on a Grade * Thickness Metal Factor > 5 gm*metres
* Denotes visible gold (‘VG’) observed in drill core
Links to tables with complete summary assay results and drillhole location information are provided
here: Martiniere Gold Project: Q1-Q2 2024 Drill Assay Summary and Location Information.
Martiniere is a key project on the Company’s 830 square kilometre Detour-Fenelon Trend property
package located in Northern Abitibi, Quebec, 30 kilometres west of the Company’s flagship Fenelon
gold project and 50 kilometres east of Canada’s largest gold mine, Agnico Eagle’s Detour Lake gold
mine. Exploration and resource delineation drilling completed at Martiniere has so far intercepted
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multiple zones of vein-hosted gold mineralization over an approximate 1 kilometre by 500 metre area
along the northwest-southeast trending Bug Lake structural corridor, and over a n approximate 1.5
kilometre by 250 metre area along the northeast -southwest trending Martiniere West and Central
corridor. Both the Bug Lake and Martiniere corridors remain open laterally and at depth below the
current 450 to 500 metre vertical extent of drilling completed to date. The Company looks forward to
providing the results of its Phase 2 exploration drilling program which it anticipates will be completed
by the end of the third quarter.
Wallbridge Mining Detour – Fenelon Gold Trend Properties
Quality Assurance / Quality Control
Wallbridge maintains a Quality Assurance/Quality Control ("QA/QC") program for all its exploration projects
using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for
samples, regular insertion of blanks and certified reference materials, and completion of secondary check
analyses performed at a separate independent accredited laboratory. Drill core is halved and shipped in
sealed bags to SGS in Val d’Or, Quebec where they are re-distributed to other SGS laboratory facilities
according to the analytical method being requested by Walbridge. Gold analyses are routinely performed
via fire assay with ICP-OES finish methods. For greater precision and accuracy, samples assaying 10 g/t
Au or greater are re -assayed via metallic screen fire assay method or fire assay/gravimetric finish ,
depending on the amount of sample material remaining available . Samples containing visible gold are
submitted directly for analysis by metallic screen fire assay method.
SGS Natural Resources analytical laboratories operate under a Quality Management System that conforms
to the requirements of ISO/IEC 17025. All of SGS’ Canadian analytical sites are accredited by the Standards
Council of Canada (SCC) for specific mineral tests listed on the scope of accreditation to the ISO/IEC 17025
standard. ISO/IEC 17025 addresses both the quality management system and the technical a spects of
operating a testing laboratory. Physical sample preparation involving accredited test methods a s listed on
the scope of accreditation may be performed at other sites listed on the SGS Canada Inc – Natural
Resources – Minerals group accreditation or at offsite sample preparation laboratories that are monitored
regularly for quality control and quality assurance practices, including SGS Canada Inc, Garson, SGS
Canada Inc, Val d’Or and SGS Canada Inc, Grand Falls-Windsor.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Mr. Christopher Kelly,
M.Sc., P.Geo., Senior Geologist for 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 in Québec’s Northern Abitibi region while respecting the
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environment and communities where it operates.
Wallbridge’s most advanced projects, Fenelon Gold (“ Fenelon”) and Martiniere Gold (“ Martiniere”)
incorporate a combined 3.05 million ounces of indicated gold resources and 2.35 million ounces of inferred
gold resources. Fenelon and Martiniere are located within an 830 square kilometre exploration land
package controlled by Wallbridge.
Wallbridge has reported a positive Preliminary Economic Assessment (“PEA”) at Fenelon that estimates
average annual gold production of 212,000 ounces over 12 years.
Wallbridge also holds a 15. 8% interest in the common shares of NorthX Nickel Corp. (formerly “Archer
Exploration Corp”) as a result of the sale of the Company’s portfolio of nickel assets in Ontario and Québec.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
Wallbridge Mining Company Limited
Brian Penny, CPA, CMA
Chief Executive Officer
Email: [email protected]
M: +1 416 716 8346
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Capital Markets Advisor
Email: [email protected]
M: +1 289 242 3599
Cautionary Note Regarding Forward-Looking Information
The information in this document may contain 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 document.
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, but are not limited
to, 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 in this document may include, but is not limited to: statements regarding the results of the PEA; the potential future
performance of the Common Shares; 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 MRE’s at Fenelon and Martiniere (collectively the “Deposit s”); 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, performance or achievements expressed or implied by such FLI.
Although the FLI contained in this document is b ased 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 in this document to reflect new events or circumstances.
Unless otherwise noted, this document has been prepared based on information available as of the date of this
document. 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, include: the results of exploration activities, the Company’s
financial position and general economic conditions; the ability of exploration activities to accurately predict
mineralization; the accuracy of geological modelling; the ability of the Company to complete further explo ration
activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or
methods used to estimate the MREs and in the PEA; the ability of the Company to obtain required approvals; geological,
mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution
of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-
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governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's
business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are
available at www.sedarplus.ca.
Cautionary Notes to United States Investors
Wallbridge prepares its disclosure in accordance with NI 43 -101 which differs from the requirements of the U.S.
Securities and Exchange Commission (the " SEC"). Terms relating to mineral properties, mineralization and estimates
of mineral reserves and mineral resources and economic studies used herein a re defined in accordance with NI 43 -
101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by
the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended . NI 43-101 differs
significantly from the disclosure requirements of the SEC generally app licable to US companies. As such, the
information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and
mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting
and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.