Wallbridge Provides Results of 2024 Drilling Program on Detour East Property
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Wallbridge Provides Results of 2024 Drilling
Program on Detour East Property
Toronto, Ontario – March 13, 2025 – Wallbridge Mining Company Limited ( TSX: WM, OTCQB:
WLBMF) (“Wallbridge” or the “ Company”) is pleased to announce that it has received final assay
results from the 2024 exploration drilling program carried out by Agnico Eagle Mines (“Agnico”) on
the Detour East property located approximately 55 kilometres west of its 100% owned Fenelon Gold
Project (“Fenelon”) and 25 kilometres east of Agnico’s Detour Lake gold mine. Agnico holds an option
to earn a 75% interest in the Detour East Property, which is currently 100% owned by Wallbridge.
Assay highlights include:
• 9.95 g/t Au over 0.5 metres in hole DTE-24-55, which drilled a previously untested target
located along the Sunday Lake Deformation Zone (“ SLDZ”) within a few hundred metres of
Wallbridge’s neighboring Casault property
• 1.34 g/t Au over 3.0 metres in hole DTE-24-64 plus 1.27 g/t Au over 3.7 metres and 2.57 g/t
Au over 2.1 metres in hole DTE-24-65, drilled on a previously identified target located along
an accessory structure 2 kilometres north of the SLDZ near the boundary with the Casault
property
• 1.43 g/t Au over 5.0 metres, 5.79 g/t Au over 1.0 metre and 7.02 g/t Au over 3.5 metres in hole
DTE-24-66 and 2.2 g/t Au over 2.4 metres in hole DTE-24-68, drilled on the historic Lynx target
located along the Massicotte Deformation Zone (“MDZ”)
“We believe these positive drill results, in combination with the completion of the airborne geophysical
survey, represent another significant step forward toward a new gold discovery in the northern Abitibi
region,” commented Brian Penny, Wallbridge CEO. “Since entering into the Detour East option
agreement in late 2020, Agnico has invested approximately $5.5 million into exploring the property,
with approximately $2.0 million of qualified expenditures remaining in order to acquire an initial 50%
interest in the property. We look forward to continued positive exploration results at Detour East during
2025,” concluded Mr. Penny.
The 2024 exploration program at Detour East was conducted in two phases. The first involved the
completion of a property -wide airborne Mobile Magnetotellurics (MT) geophysical survey totaling
1,923 line-kilometres to map bedrock lithology, structure and possible alteration and mineralization
concealed beneath the extensive surficial overburden cover characteristic of the region. The results
of the MT survey were used to identify prospective geologic and geophysical targets in proximity to
the regional scale SLDZ, MDZ, and interpreted accessory fault structures as they extend across the
northern and southern portions of the property.
The second phase involved the completion of a 14 -hole diamond drilling program totaling 6,475
metres. Significant brittle-ductile style structural deformation hosting localized gold mineralization was
intersected at multiple targets, confirming the locations of the main SLDZ and MDZ structures and
accessory fault structures. Of the 14 holes drilled, 9 intercepted gold mineralization that may warrant
further drilling. Gold mineralization occurs in association with quartz -sulfide and quartz-carbonate
veining and breccia fillings . Additional details from the 2024 drilling program are provided in the
summary table below:
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Detour East Gold Project: 2024 Drill Assay Highlights
Drill Hole
From
(m)
To
(m)
Length
(m)
Au
(g/t) Targeted Zone
DTE-24-55 198.0 198.5 0.5 9.95 SLDZ
DTE-24-56 234.0 236.0 2.0 0.53 SLDZ
DTE-24-57 No significant assays reported MDZ
DTE-24-58 No significant assays reported MDZ
DTE-24-59 No significant assays reported MDZ
DTE-24-60 231.0 233.0 2.0 0.50 MDZ
DTE-24-61 No significant assays reported MDZ
DTE-24-62 102.6 103.6 1.0 2.26 MDZ
299.0 300.0 1.0 1.29
DTE-24-63 118.0 118.9 0.9 1.85 MDZ
DTE-24-64 97.0 98.0 1.0 1.18 SLDZ
188.0 194.3 6.3 0.72
223.0 226.5 3.5 0.45
251.0 253.0 2.0 0.75
267.0 270.5 3.5 0.87
431.0 434.0 3.0 1.34
DTE-24-65 183.3 187.0 3.7 1.27 SLDZ
209.8 211.9 2.1 2.57
DTE-24-66 87.0 92.0 5.0 1.43 MDZ
115.0 116.0 1.0 5.79
123.0 126.5 3.5 7.02
129.2 130.1 0.9 1.58
DTE-24-67 No significant assays reported MDZ
DTE-24-68 88.0 89.0 1.0 1.25 MDZ
93.5 96.3 2.8 0.70
124.5 126.9 2.4 2.20
132.3 137.7 5.4 0.57
Notes
1 Assay results are presented in summary format as reported by Agnico to Wallbridge.
2 As these are exploration results, accurate estimation of true interval widths have not been determined.
Links to a drill hole location map and an example cross-section for drill holes reported in this news
release are provided here: Detour East Project: 2024 Drill Hole Location Map & Cross-Sections
The Detour East property is a 231 km 2 claim block that comprises part of the Company’s 830 km 2
Detour-Fenelon Gold Project land package. It covers approximately 20 km of the SLDZ and
approximately 15 km of the MDZ as they extend east from the Québec-Ontario border. Under terms
of the Detour East option agreement, Agnico has the option to acquire an initial 50% ownership interest
in the property by funding expenditures of $7.5 million by November 23, 2025.
Upon Agnico exercising its option to earn the initial 50% interest, a joint venture will be formed and
Agnico will have a second option to earn an additional 25% interest in the property by completing an
additional $27.5 million in qualified work expenditures within 5 years of entering into the joint venture
agreement, for a total undivided 75% interest in the property. Agnico is the project operator during the
full term of the option period . There is a NSR royalty of 2%, relating to the entirety of the property,
payable to a former owner, which may be repurchased at any time for $1.0 million for the first 50% of
the NSR interest and $2.0 million for the remainder.
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Quality Assurance / Quality Control
Agnico Eagle Mines Limited 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 ALS Minerals in Timmins Ontario for sample preparation.
Samples are logged in the tracking system, weighed, dried, and finely crushed to better than 70% passing
a 2 mm screen per preparation code CRU -31. A split of up to 500 g is taken using a Boyd rotary splitter
and pulverized to better than 85% passing a 75 µm screen per code PUL-32m.
A 200g split is sent to ALS Minerals in Vancouver for analysis. Samples are assayed for gold using fire assay
techniques on a 50 g sample with atomic absorption spectroscopy finish (Au -AA24). Samples with >10 g/t
Au are reanalyzed with a gravimetric finish (Au-GRA22). Samples containing visible gold are analyzed using
a screen metallics procedure and followed with a silica wash of equipment per request by Exploration
personnel. A high -grade standard is placed before the sample with visible gold within the p revious 10
samples and a blank sample is inserted immediately after the sample with visible gold.
ALS Minerals operates under a Quality Management System that conforms to the requirements of ISO/IEC
17025.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen,
M.Sc., P.Geo. (OGQ AS-10796: PGO 3069), Senior Exploration Consultant for Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold
projects in Québec’s Northern Abitibi region while respecting the environment and communities where it
operates. The Company holds a contiguous mineral property position totaling 830 km 2 that extends
approximately 97 kilometers along the Detour -Fenelon gold trend. The property is host to the Company’s
flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
Brian Penny, CPA, CMA
CEO
Email: [email protected]
M: +1 416 716 8346
Tania Barreto, CPIR
Director Investor Relations
Email: [email protected]
M: +1 289 819 3012
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”, “estimat es”,
“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: exploration by Agnico or the Company on the Detour East
property; the Company’s exploration plans; the future prospects of Wallbridge; statements regarding the results of the
PEA; future drill results; the Company’s ability to convert inferred resources into measured and indicated resources;
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environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the
mineral resource estimates (“ 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, 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 accur acy 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 and in the PEA; the ability of the Company to obtain required approvals; geological,
mining and exploration technical problems; and 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-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 are 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 applicable 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.
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Wallbridge Mining Detour – Fenelon Gold Trend Properties
Detour East Property – 2024 Drill Hole Locations
Hole ID Northing
UTM_N
Easting
UTM_E
Elevation
(masl)
Depth
(m)
Azimuth
(Degrees)
Dip
(Degrees)
Hole ID Northing
UTM_N
Easting
UTM_E
Elevation
(masl)
Depth
(m)
Azimuth
(Degrees)
Dip
(Degrees)
DTE-24-55 5536321 624700 252 564 320 52 DTE-24-62 5533178 616235 244 510 200 52
DTE-24-56 5537731 621743 252 409 220 52 DTE-24-63 5533306 615975 259 450 220 52
DTE-24-57 5532842 618184 255 447 190 52 DTE-24-64 5540603 626990 261 510 172 52
DTE-24-58 5532553 619418 254 540 20 52 DTE-24-65 5540422 627011 261 402 172 52
DTE-24-59 5533335 620237 255 600 205 52 DTE-24-66 5532861 617812 255 402 0 58
DTE-24-60 5533069 620580 255 489 180 52 DTE-24-67 5532861 617812 255 300 0 76
DTE-24-61 5532923 621202 256 552 200 52 DTE-24-68 5532861 617812 255 300 340 58
Note: Coordinate system UTM NAD 83, Zone 17
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Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option
2024 Drill Hole Locations
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Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option
Cross Section – Drill Holes DTE-24-64 & 65, DTE-18-42A
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Wallbridge Mining - Detour East Property – Agnico Eagle Mines Option
Cross Section – Drill Holes DTE-24-66, 67 & 68