Wallbridge’s First Drill Hole at Casault Intersects New Gold Mineralization
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’s First Drill Hole at Casault Intersects New Gold Mineralization
Toronto, Ontario – October 21, 2021 – Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the
“Company”) is pleased to report that a mineralized zone in CAS-21-123, th e first drill hole of this summer’s 5,300 metre
drill program on the Casault Gold Property (“Casault” or the “Property”), has assayed 6.85 g/t Au over 2.00 metres.
This intersection is considered significant as it is located in the northern, largely untested part of the property, where no
gold zone has been identified to date. This hole was collared a pproximately 2 kilometres from the nearest anomalous gold
intersections (> 1 g/t Au over 1 m) on both the Casault and Martiniere properties (see Fig. 2).
This hole is one of 13 drilled over the last few months to test a variety of grassroots exploration targets 4 to 12 kilometres
west of the Company’s Martiniere Gold Property ("Martiniere").
The other 12 drill holes of the Casault program have also inter sected strong shear and alteration zones with sulfide
mineralization that are interpreted to potentially be part of g old-bearing systems. Assay results of these drill holes are
pending and will be released as they become available.
“This intersection of encouraging gold mineralization in the first drill hole of our Casault program in an entirely grassroots
area is not only a testament to our growing understanding of the regional controls on gold deposition in the Detour-Fenelon
area but also to the prospectivity of the over 900 square kilometre land package along this underexplored belt”, stated
Marz Kord, President & CEO of Wallbri dge. “We are keenly awaiting the assay results of other completed holes and are
looking forward to following-up on this intersection.”
Casault Gold Property
Wallbridge has an option to acquire up to a 65% interest in the 177 km 2 Casault Property from Midland Exploration
(“Midland”) (see Wallbridge News Release dated June 18, 2020). Casault covers a number of grassroots exploration targets
4 to 12 kilometres west of the Company’s Martiniere Gold Projec t ("Martiniere") and 34 to 41 kilometres west of its
flagship Fenelon gold property ("Fenelon") (see Figs. 1 and 2). The property covers more than 20 kilometres of the Sunday
Lake Deformation Zone ( “SDLZ”), along which the Company’s Mar tiniere and Fenelon gold deposi ts are located and
which also hosts Kirkland Lake Gold’s world-class Detour Lake Mine.
The Casault property also hosts the Vortex Zone, a syenite-associated disseminated gold system with drill hole intersections
grading up to 1.38 g/t Au over 26.5 metres that was traced over a distance of 1.5 kilometres.
Drill Program Completed
Between July and September 2021, Wallbridge completed a 13-hole drill program, testing a variety of grassroots exploration
targets at Casault. Drilling has focused on the unexplored nort hern part of the Property, within 1 to 2 kilometres north of
the SLDZ, on the same assemblage of rocks that hosts the Compan y’s Martiniere gold system. Martiniere hosts historic
indicated resources of approximately 591,000 gold ounces with an updated resource estimate currently underway (see details
of the historic resource estimate on the Company’s website). The initial drilling at Casault was approximately 5 kilometres
east of the closest target tested by the 2021 drilling at Martiniere.
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Hole CAS-21-123 tested a prominent NW-SE oriented structure int erpreted from airborne magnetics (see Fig. 3). This
structural orientation is known to control gold mineralization at Fenelon and Martiniere, and a series of large structures of
this trend also transects the Casault property. The particular structure tested by CAS-21-123 extends for an approximately
8 kilometres across the Company’s Martiniere, Casault and Doigt properties and was historically tested by one drill hole on
Martiniere, yielding 30.40 g/t Au over 0.44 metres, which has not yet been followed-up.
The intersection of 6.85 g/t Au over 2.00 metres in CAS-21-123 is associated with a mineralized zone consisting of
chalcopyrite, pyrite, pyrrhotite, and electrum, a gold-silver m ineral phase, hosted within deformed and heavily carbonate-
altered, felsic to intermediate, porphyritic rocks.
2021 Detour-Fenelon Gold Trend Regional Drill Program
This drilling completed at Casault is part of the Company’s app roximately 20,000 to 25,000- metre regional drill program
on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.
Assay results of one drill hole of the 2021 Casault exploration drill pr ogram are reported in the Tabl e and Figures below.
All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under
“Current Program” at https://wallbridgemining.com/our-projects/detour-gold-trend/casault/.
Figure 1. Overview Map of Wallbridge's Detour-Fenelon land package
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Figure 2. Geology Map of the northern part of the Casault Gold Property and the Martiniere gold deposit
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Figure 3. Compilation map of the northeastern part of the Casault Gold Property
Table 1. Casault Gold Property, Recent Drill Assay Highlights
Drill Hole From To Length Au VG(1) Zone/Corridor Section
(m) (m) (m) (g/t)
CAS‐21‐123 254.50 256.50 2.00 6.85 VG NEW
(1) Intervals containing visible gold or electrum, a gold-silver alloy ("VG").
Note: There is currently not enough information to estimate the true width of the intersection.
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Assay QA/QC and Qualified Persons
Drill core samples from the 2021 drill program at Casault were cut and bagged on site and transported to AGAT Laboratories
Ltd. for analysis. Samples are crushed to 75% less than 2mm. A 250g riffle split is pulverized to 85% passing 75 microns.
50g samples are analyzed by fire assay and AAS. Samples >10g/t A u a r e a u t o m a t i c a l l y a n a l y z e d b y f i r e a s s a y w i t h
gravimetric finish or screen metallic analysis. To test for coa rse free gold and for additiona l quality assurance and quality
control, Wallbridge requests screen metallic analysis for sampl es 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 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 located
along the Detour‒Fenelon Gold Trend, an emerging gold belt in n orthwestern Québec. The Company completed
approximately 102,000 metres of drilling in 2020 and is currently conducting a fully‒funded 2021 program of approximately
150,000-170,000 metres of drilling and 2,500 metres of underground exploration development (Phase 1 of a 10,000‒metre
program). The Company intends to complete a maiden mineral reso urce 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
total more than 900.0 km 2, improving Wallbridge's potential for further discoveries alon g a 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 behalf 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 meanin g of applicable Canadian securities
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Company’s portfolio, treasury, management team, timetable to mineral resource estimation, permitting and the prospective
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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 perso nnel.
Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The
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Depending on the evolution of the virus, me asures may affect the regular operations of Wallbridge and the participation of staf f
members in events inside or outside Canada.