Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) ("Wallbridge" or the "Company") today reported positive assay results from the ongoing drill program at the Company's Fenelon Gold project ("Fenelon"), including significant gold mineralization in the Ripley Zone, located one kilometre south of the Fenelon mineral resource footprint. The results demonstrate the potential for this zone to be included in an updated Fenelon mineral resource estimate ("MRE") expected in 2023, as the Company continues to grow the existing resource base at its Detour-Fenelon Gold Trend Property in Northwestern Quebec.
"Based on the results announced today, we believe there is good potential to delineate an underground mineral resource at the Ripley Zone, which could be incorporated into our next Fenelon MRE update," said Attila Péntek, Wallbridge's Vice President, Exploration. "In addition, the wide, pervasive mineralization in some of the drill holes, over a strike length of over 800 metres, suggests there could be an opportunity for an open pit resource as well, and we are conducting additional near-surface drilling to evaluate this scenario. We are also drilling in the area between the existing Fenelon deposit and the Ripley Zone to follow up on previous Area 51-style gold intersections as we work to establish a continuous resource base within and along the Jeremie Diorite, one of the primary host rocks of the Fenelon deposit."
Fenelon Resource Drilling
One of the objectives of the Company's 2022 Fenelon drill program, as outlined in Wallbridge's News Release dated January 10, 2022, is to expand the existing resource footprint laterally, in directions where the mineralization is open, while seeking to discover new satellite zones in proximity of the known deposit. Data from this drilling program will support future economic studies in determining the optimal mining configuration of the project.
The drilling conducted in the Ripley Zone, along the Sunday Lake Deformation Zone ("SLDZ"), approximately one kilometre south of the current Fenelon resource, is part of this resource expansion program and recent highlight intersections from this area include:
| FA-22-386 | 3.79 g/t Au over 12.40 metres, which includes 25.59 g/t Au over 1.50 metres, and 10.32 g/t Au over 3.00 metres, included in a wider envelope of pervasive, low-grade gold mineralization grading 1.01 g/t over 222.85 metres in the Ripley zone; | |
| FA-22-390 | 0.91 g/t Au over 65.10 metres, which includes 3.18 g/t Au over 11.60 metres, and 1.02 g/t Au over 11.50 metres, included in a wider envelope of pervasive, low-grade gold mineralization grading 0.70 g/t over 106.60 metres in the Ripley zone. This intersection is in addition to another mineralized zone of 0.51 g/t Au over 206.60 metres, including 1.15 g/t Au over 9.50 metres, 2.11 g/t Au over 6.80 metres, and 2.33 g/t Au over 5.40 metres previously announced in Wallbridge's News Release dated April 07, 2022 | |
| FA-22-392 | 0.82 g/t Au over 18.70 metres, which includes 6.77 g/t Au over 1.10 metres, and 1.66 g/t Au over 13.00 metres, including 5.39 g/t Au over 2.30 metres, included in a wider, mineralized envelope of 0.54 g/t over 136.50 metres. |
Final assay results from six drill holes and partial results of one hole of the 2021/2022 Fenelon drill program 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