TORONTO, May 20, 2020 /CNW/ - Wallbridge Mining Company
Limited (TSX:WM) ("Wallbridge" or the "Company") is
pleased to announce that it continues to outline strong gold
mineralization over a 600 by 500 metre area within the Area 51 vein
network, which occurs in the hangingwall to the Tabasco-Cayenne
shear system on its 100%-owned Fenelon Gold Property ("Fenelon" or
the "Property") (see Fig. 1).
The results announced today continue to show the grade
characteristics typical of the Jérémie Pluton-hosted Area 51 veins,
allowing the future evaluation of various potential mining
scenarios:
1. Potentially open pit bulk
mineable intercepts in the 1-2 g/t range, including 1.70 g/t Au
over 58.50 metres in FA-20-116, 1.01 g/t Au over 82.40
metres in FA-20-113 and 2.06 g/t Au over 38.50
metres in FA-20-115;
2. Potentially underground
bulk mineable intervals in the 2-10 g/t range, including 5.77
g/t Au over 14.85 metres in FA-20-116, 9.28 g/t Au over
6.50 metres in FA-20-115, and 7.18 g/t Au over 6.00
metres in 19-915-020;
3. Potentially underground
mineable intervals in the > 10 g/t range, including 19.55 g/t
Au over 4.10 metres in FA-20-107, 307.74 g/t Au over 0.50
metre in FA-20-118, 121.00 g/t Au over 0.60
metre in FA-20-128 and 78.21 g/t Au over 0.70
metre in 19-0915-025;
"We continue to expand the Area 51 gold system, both east (now
on section 10425) and West (now on section 9825) with strong
intersection both near surface and also at depth in close proximity
to the Tabasco zones. Geophysical information and initial drill
results by Balmoral indicate that
Area 51 mineralization may extend far into the surrounding
Balmoral ground and we are looking
forward to discovering the extensions of this gold system on the
soon-to-be consolidated land package with drilling planned to start
up there this summer," stated Attila Péntek, Vice President,
Exploration of Wallbridge. "The geologic interpretation and 3D
modeling carried out by our geology team, working remotely during
this temporary suspension due to COVID-19, has provided us with a
much-improved understanding of the controls on gold mineralization
in the Fenelon gold system. This will enable us to better target
these zones and evaluate potential mining scenarios."
Highlights
Andromeda
Corridor
|
19-0915-020:
|
3.17 g/t Au over
9.00 metres and 7.18 g/t Au over 6.00 metres (see
Fig. 8);
|
19-0915-024:
|
2.18 g/t Au over
19.50 metres, including 3.56 g/t Au over 7.50
metres (see Fig. 9);
|
19-0915-025:
|
78.21 g/t Au over
0.70 metre (see Fig. 8);
|
19-0915-026:
|
3.11 g/t Au over
10.15 metres, including 23.26 g/t Au over 0.85
metres (see Fig. 7);
|
FA-20-108:
|
1.38 g/t Au over
29.25 metres, including 4.30 g/t Au over 4.50
metres (see Fig. 8);
|
|
|
Enterprise &
Interstellar Corridors
|
FA-19-097:
|
1.52 g/t Au over
42.12 metres, including 2.39 g/t Au over 16.12
metres (see Fig. 2);
|
FA-20-115:
|
2.06 g/t Au over
38.50 metres, including 9.28 g/t Au over 6.50
metres (see Fig. 7);
|
FA-20-116:
|
1.70 g/t Au over
58.50 metres (together with Andromeda Zone 4) (see Fig.
9), including
|
|
5.77 g/t Au over
14.85 metres, which further includes 17.82 g/t Au over
4.50 metres;
|
FA-20-118:
|
307.74 g/t Au over
0.50 metre (see Fig. 3);
|
|
|
Laika
Corridor
|
FA-20-107:
|
19.55 g/t Au over
4.10 metres (see Fig. 10);
|
FA-20-129:
|
1.18 g/t Au over
28.55 metres (see Fig. 7);
|
|
|
MIB & Milky
Way Corridors
|
FA-19-097:
|
1.18 g/t Au over
37.98 metres, including 35.39 g/t Au over 0.70
metre (see Fig. 2);
|
FA-20-109:
|
1.53 g/t Au over
40.90 metres, including 13.38 g/t Au over 2.25
metre (see Fig. 3);
|
FA-20-113:
|
1.01 g/t Au over
82.40 metres, including 7.02 g/t Au over 2.40
metres (see Fig. 4);
|
FA-20-134:
|
1.07 g/t Au over
36.90 metres, including 7.07 g/t Au over 2.10
metres (see Fig. 4);
|
|
|
Orion
Corridor
|
FA-20-106:
|
2.22 g/t Au over
14.75 metres (see Fig. 4);
|
FA-20-107:
|
1.14 g/t Au over
22.05 metres (see Fig. 10);
|
FA-20-128:
|
1.71 g/t Au over
21.00 metres and 121.00 g/t Au over 0.60 metre (see Fig.
4);
|
|
|
Titan
Corridor
|
FA-20-110:
|
4.57 g/t Au over
5.40 metres and 2.44 g/t Au over 13.50 metres (see Fig.
5);
|
FA-20-137:
|
1.18 g/t Au over
24.00 metres, including 9.55 g/t Au over 1.50
metres (see Fig. 5);
|
19-970-007:
|
3.08 g/t Au over
9.40 metres, including 5.17 g/t Au over 4.70
metres (see Fig. 10);
|
Area 51 Geologic Modelling
The Area 51 mineralization has now been modelled in detail based
on available assay results and other geologic observations
collected (structural orientation of veins, vein density data,
alteration mapping, shear intensity), establishing 27 zones
modelled and grouped into eight mineralized corridors. These new
models will enable Wallbridge to better target these zones and
evaluate potential mining scenarios. Geophysical information and
initial drill results by Balmoral
indicate that the Area 51 mineralization may extend far into the
Balmoral land package and will
represent one of the high priority targets for the 2020 drill
program.
2019/2020 Drill Program
Prior to the March 23, 2020
temporary suspension of drilling activities due to COVID-19, six
drill rigs were active on the Property: five were focusing on
exploration drilling from surface with large-spaced step-outs to
define the footprint of the Fenelon Gold System, and one
underground drill rig was focused on more closely-spaced definition
drilling of the Main Gabbro Zones near the existing mine workings.
A total of 75,000 metres were drilled in 2019, and a fully-funded
100,000 to 120,000 metres of drilling was originally planned for
2020. So far, up to the March 23,
2020 temporary suspension, a total of approximately 26,000
metres have been drilled this year. As previously announced,
exploration activity has resumed at Fenelon, initially with four
surface drill rigs; the Company now estimates completing between
70,000 and 80,000 metres of drilling in 2020.
Partial assay results of 23 surface holes and six underground
holes of the 2019/2020 exploration drill program are reported in
Table 1 and Figures below. Further assays are pending for some
of the drill holes and intersections of the Tabasco-Cayenne shear
system are reported in separate releases. All figures and a table
with drill hole information of recently completed holes can be
found at https://www.wallbridgemining.com/s/fenelon.asp.
Table 1.
Wallbridge Fenelon gold property 2019/2020 Drill Assay Highlights
(1)
|
Drill
Hole
|
From
|
To
|
From
|
To
|
Length
|
Au
|
Au
Cut(2)
|
VG(3)
|
Zone/Corridor
|
Section
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
|
|
|
19-0915-020
|
11.70
|
12.70
|
|
|
1.00
|
25.22
|
25.22
|
|
Area 51 -
Interstellar Zone 2
|
10350
|
19-0915-020
|
345.20
|
354.20
|
|
|
9.00
|
3.17
|
3.17
|
|
Area 51 - Andromeda
Zone 3
|
10350
|
19-0915-020
|
Including…
|
353.20
|
354.20
|
1.00
|
23.00
|
23.00
|
|
Area 51 - Andromeda
Zone 3
|
10350
|
19-0915-020
|
389.80
|
396.59
|
|
|
6.79
|
1.51
|
1.51
|
|
Area 51 - Andromeda
Zone 4
|
10350
|
19-0915-020
|
411.20
|
417.20
|
|
|
6.00
|
7.18
|
7.18
|
|
Area 51 - Andromeda
Zone 4
|
10350
|
19-0915-024
|
230.25
|
231.55
|
|
|
1.30
|
5.30
|
5.30
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0915-024
|
278.50
|
298.00
|
|
|
19.50
|
2.18
|
2.18
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0915-024
|
Including…
|
278.50
|
281.55
|
3.05
|
3.78
|
3.78
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0915-024
|
And…
|
285.00
|
292.50
|
7.50
|
3.56
|
3.56
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0915-025
|
192.00
|
195.00
|
|
|
3.00
|
1.53
|
1.53
|
|
Area 51- Andromeda
Zone 2
|
10350
|
19-0915-025
|
226.90
|
227.60
|
|
|
0.70
|
78.21
|
78.21
|
VG
|
Area 51- Andromeda
Zone 3
|
10350
|
19-0915-026
|
339.80
|
347.90
|
|
|
8.10
|
1.39
|
1.39
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0915-026
|
459.90
|
470.05
|
|
|
10.15
|
3.11
|
3.11
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0915-026
|
Including…
|
466.15
|
467.00
|
0.85
|
23.26
|
23.26
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
19-0970-007
|
292.12
|
300.93
|
|
|
8.81
|
2.63
|
2.63
|
|
Area 51 - Laika Zone
1
|
10425
|
19-0970-007
|
Including…
|
292.12
|
295.80
|
3.68
|
5.93
|
5.93
|
|
Area 51 - Laika Zone
1
|
10425
|
19-0970-007
|
402.20
|
403.33
|
|
|
1.13
|
5.72
|
5.72
|
|
Area 51 - Laika Zone
3
|
10425
|
19-0970-007
|
499.30
|
508.70
|
|
|
9.40
|
3.08
|
3.08
|
VG
|
Area 51 - Titan Zone
1
|
10425
|
19-0970-007
|
Including…
|
499.30
|
504.00
|
4.70
|
5.17
|
5.17
|
VG
|
Area 51 - Titan Zone
1
|
10425
|
19-0970-009
|
440.70
|
442.20
|
|
|
1.50
|
7.64
|
7.64
|
|
Area 51 - Orion Zone
3
|
10425
|
FA-19-097*
|
54.40
|
55.03
|
|
|
0.63
|
8.61
|
8.61
|
|
Area 51 -
Interstellar Zone 2
|
9825
|
FA-19-097*
|
100.30
|
142.42
|
|
|
42.12
|
1.52
|
1.52
|
|
Area 51 -
Interstellar Zone 1 and Enterprise Zone 4
|
9825
|
FA-19-097*
|
Including…
|
100.30
|
110.30
|
10.00
|
2.41
|
2.41
|
|
Area 51 -
Interstellar Zone 1
|
9825
|
FA-19-097*
|
And…
|
126.30
|
142.42
|
16.12
|
2.39
|
2.39
|
|
Area 51 - Enterprise
Zone 4
|
9825
|
FA-19-097*
|
281.35
|
282.67
|
|
|
1.32
|
6.78
|
6.78
|
|
Area 51 -Milky Way
Zone 3
|
9825
|
FA-19-097*
|
301.73
|
305.17
|
|
|
3.44
|
3.69
|
3.69
|
|
Area 51 - Milky Way
Zone 2
|
9825
|
FA-19-097*
|
360.19
|
398.17
|
|
|
37.98
|
1.18
|
1.18
|
|
Area 51 - Milky Way
Zone 1 and MIB Zone 3
|
9825
|
FA-19-097*
|
Including…
|
371.25
|
371.95
|
0.70
|
35.39
|
35.39
|
|
Area 51 - Milky Way
Zone 1
|
9825
|
FA-19-097*
|
And…
|
396.80
|
398.17
|
1.37
|
11.48
|
11.48
|
|
Area 51 - MIB Zone
3
|
9825
|
FA-19-106
|
55.75
|
70.50
|
|
|
14.75
|
2.22
|
2.22
|
VG
|
Area 51 - Orion Zone
1
|
9975
|
FA-19-106
|
204.85
|
205.90
|
|
|
1.05
|
5.94
|
5.94
|
|
Area 51- Laika Zone
2
|
9975
|
FA-19-106
|
363.00
|
364.50
|
|
|
1.50
|
3.36
|
3.36
|
|
Area 51- Andromeda
Zone 2
|
9975
|
FA-19-106
|
658.05
|
663.00
|
|
|
4.95
|
1.55
|
1.55
|
|
Area 51 - Milky Way
Zone 2
|
9975
|
FA-20-107
|
135.20
|
137.20
|
|
|
2.00
|
4.26
|
4.26
|
|
Area 51 -New
Zone
|
10425
|
FA-20-107
|
213.55
|
235.60
|
|
|
22.05
|
1.14
|
1.14
|
|
Area 51 - Orion Zone
3
|
10425
|
FA-20-107
|
Including…
|
235.00
|
235.60
|
0.60
|
16.23
|
16.23
|
|
Area 51 - Orion Zone
3
|
10425
|
FA-20-107
|
541.75
|
545.85
|
|
|
4.10
|
19.55
|
19.55
|
|
Area 51 - Laika Zone
1
|
10425
|
FA-20-107
|
584.30
|
589.10
|
|
|
4.80
|
1.41
|
1.41
|
|
Area 51 - Andromeda
Zone 4
|
10425
|
FA-20-108
|
121.63
|
122.47
|
|
|
0.84
|
9.82
|
9.82
|
|
Area 51 - Orion Zone
4
|
10275
|
FA-20-108
|
550.85
|
580.10
|
|
|
29.25
|
1.38
|
1.38
|
VG
|
Area 51 - Andromeda
Zone 4
|
10275
|
FA-20-108
|
Including…
|
561.35
|
564.45
|
3.10
|
3.42
|
3.42
|
|
Area 51 - Andromeda
Zone 4
|
10275
|
FA-20-108
|
And…
|
575.60
|
580.10
|
4.50
|
4.30
|
4.30
|
VG
|
Area 51 - Andromeda
Zone 4
|
10275
|
FA-20-108
|
602.15
|
611.75
|
|
|
9.60
|
1.02
|
1.02
|
|
Area 51 -Andromeda
Zone 3
|
10275
|
FA-20-108
|
656.10
|
667.95
|
|
|
11.85
|
1.19
|
1.19
|
VG
|
Area 51 -Andromeda
Zone 1
|
10275
|
FA-20-108
|
Including…
|
656.10
|
656.75
|
0.65
|
9.40
|
9.40
|
VG
|
Area 51 -Andromeda
Zone 1
|
10275
|
FA-20-108
|
670.95
|
675.30
|
|
|
4.35
|
3.02
|
3.02
|
VG
|
Area 51 -Andromeda
Zone 1
|
10275
|
FA-20-108
|
681.20
|
682.35
|
|
|
1.15
|
3.58
|
3.58
|
|
Area 51 -Andromeda
Zone 1
|
10275
|
FA-20-108
|
691.35
|
698.60
|
|
|
7.25
|
2.08
|
2.08
|
|
Area 51 -Andromeda
Zone 1
|
10275
|
FA-20-108
|
741.00
|
747.60
|
|
|
6.60
|
2.65
|
2.65
|
|
Area 51 -Interstellar
Zone 2
|
10275
|
FA-20-108
|
Including…
|
746.45
|
747.60
|
1.15
|
10.55
|
10.55
|
|
Area 51 -Interstellar
Zone 2
|
10275
|
FA-20-108
|
771.90
|
773.15
|
|
|
1.25
|
21.00
|
21.00
|
|
Area 51 -Interstellar
Zone 2
|
10275
|
FA-20-108
|
797.80
|
799.25
|
|
|
1.45
|
3.47
|
3.47
|
|
Area 51 -Interstellar
Zone 1
|
10275
|
FA-20-109
|
416.20
|
447.60
|
|
|
31.40
|
1.19
|
1.19
|
VG
|
Area 51 -Enterprise
Zone 1
|
9900
|
FA-20-109
|
Including…
|
432.00
|
438.00
|
6.00
|
4.41
|
4.41
|
VG
|
Area 51 -Enterprise
Zone 1
|
9900
|
FA-20-109
|
462.60
|
471.00
|
|
|
8.40
|
1.21
|
1.21
|
|
Area 51 -Milky Way
Zone 3
|
9900
|
FA-20-109
|
549.65
|
589.90
|
|
|
40.25
|
1.54
|
1.54
|
VG
|
Area 51 -Milky Way
Zone 1
|
9900
|
FA-20-109
|
Including…
|
560.15
|
563.00
|
2.85
|
4.83
|
4.83
|
VG
|
Area 51 -Milky Way
Zone 1
|
9900
|
FA-20-109
|
And…
|
577.75
|
580.00
|
2.25
|
13.38
|
13.38
|
|
Area 51 -Milky Way
Zone 1
|
9900
|
FA-20-109
|
612.25
|
617.70
|
|
|
5.45
|
3.81
|
3.81
|
VG
|
Area 51- MIB
Zone 1
|
9900
|
FA-20-110*
|
192.00
|
197.40
|
|
|
5.40
|
4.57
|
4.57
|
|
Area 51 - Titan Zone
4
|
10050
|
FA-20-110*
|
265.50
|
279.00
|
|
|
13.50
|
2.44
|
2.44
|
VG
|
Area 51 - Titan Zone
1 and Laike Zone 3
|
10050
|
FA-20-110*
|
Including…
|
265.50
|
266.00
|
0.50
|
56.54
|
56.54
|
VG
|
Area 51 - Titan Zone
1
|
10050
|
FA-20-110*
|
601.00
|
607.00
|
|
|
6.00
|
3.21
|
3.21
|
|
Area 51 -
Interstellar Zone 1
|
10050
|
FA-20-113
|
73.20
|
97.30
|
|
|
24.10
|
1.16
|
1.16
|
VG
|
Area 51 - Titan Zone
1 and Laika Zone 3
|
9975
|
FA-20-113
|
Including…
|
84.00
|
84.58
|
0.58
|
28.68
|
28.68
|
VG
|
Area 51 - Laika Zone
3
|
9975
|
FA-20-113
|
139.00
|
143.40
|
|
|
4.40
|
1.66
|
1.66
|
|
Area 51 - Laika Zone
2
|
9975
|
FA-20-113
|
150.00
|
151.05
|
|
|
1.05
|
6.85
|
6.85
|
|
Area 51 - Laika Zone
2
|
9975
|
FA-20-113
|
287.40
|
288.10
|
|
|
0.70
|
12.90
|
12.90
|
|
Area 51 - Andromeda
Zone 2
|
9975
|
FA-20-113
|
454.20
|
459.60
|
|
|
5.40
|
2.17
|
2.17
|
|
Area 51 - Enterprise
Zone 3
|
9975
|
FA-20-113
|
Including…
|
454.20
|
455.30
|
1.10
|
9.60
|
9.60
|
|
Area 51 - Enterprise
Zone 3
|
9975
|
FA-20-113
|
480.05
|
495.79
|
|
|
15.74
|
0.97
|
0.97
|
|
Area 51 - Enterprise
Zone 2
|
9975
|
FA-20-113
|
Including…
|
483.00
|
484.26
|
1.26
|
4.74
|
4.74
|
|
Area 51 - Enterprise
Zone 2
|
9975
|
FA-20-113
|
585.10
|
667.50
|
|
|
82.40
|
1.01
|
1.01
|
|
Area 51 - Milky Way
Zone 1&2 and 3
|
9975
|
FA-20-113
|
Including…
|
585.10
|
587.20
|
2.10
|
6.19
|
6.19
|
|
Area 51 - Milky Way
Zone 3
|
9975
|
FA-20-113
|
And…
|
665.10
|
667.50
|
2.40
|
7.02
|
7.02
|
|
Area 51 - Milky Way
Zone 1
|
9975
|
FA-20-113
|
795.00
|
796.90
|
|
|
1.90
|
3.00
|
3.00
|
|
Area 51 - MIB Zone
1
|
9975
|
FA-20-115
|
176.00
|
177.00
|
|
|
1.00
|
7.01
|
7.01
|
|
Area 51 - Titan Zone
1
|
10200
|
FA-20-115
|
426.80
|
439.00
|
|
|
12.20
|
1.59
|
1.59
|
VG
|
Area 51 - Andromeda
Zone 1
|
10200
|
FA-20-115
|
Including…
|
438.00
|
439.00
|
1.00
|
13.40
|
13.40
|
|
Area 51 - Andromeda
Zone 1
|
10200
|
FA-20-115
|
510.50
|
549.00
|
|
|
38.50
|
2.06
|
2.06
|
|
Area 51 -
Interstellar Zone 2 & 1
|
10200
|
FA-20-115
|
Including…
|
510.50
|
517.00
|
6.50
|
9.28
|
9.28
|
|
Area 51 -
Interstellar Zone 2
|
10200
|
FA-20-115
|
And…
|
548.00
|
549.00
|
1.00
|
10.25
|
10.25
|
|
Area 51 -
Interstellar Zone 1
|
10200
|
FA-20-116
|
556.00
|
566.00
|
|
|
10.00
|
1.34
|
1.34
|
VG
|
Area 51 - Laika
3
|
10350
|
FA-20-116
|
617.50
|
676.00
|
|
|
58.50
|
1.70
|
1.70
|
VG
|
Area 51 -Andromeda
Zone 1 and Interstellar Zone 3
|
10350
|
FA-20-116
|
Including…
|
661.15
|
676.00
|
14.85
|
5.77
|
5.77
|
VG
|
Area 51 -
Interstellar Zone 3
|
10350
|
FA-20-116
|
Which
Includes…
|
671.50
|
676.00
|
4.50
|
17.82
|
17.82
|
VG
|
Area 51 -
Interstellar Zone 3
|
10350
|
FA-20-118
|
360.20
|
360.70
|
|
|
0.50
|
13.47
|
13.47
|
VG
|
Area 51 -
Interstellar Zone 2
|
9900
|
FA-20-118
|
387.00
|
387.50
|
|
|
0.50
|
307.74
|
140.00
|
VG
|
Area 51 -
Interstellar Zone 1
|
9900
|
FA-20-118
|
510.90
|
520.45
|
|
|
9.55
|
1.40
|
1.40
|
VG
|
Area 51 - Enterprise
Zone 1
|
9900
|
FA-20-118
|
Including…
|
519.90
|
520.45
|
0.55
|
17.45
|
17.45
|
VG
|
Area 51 - Enterprise
Zone 1
|
9900
|
FA-20-119
|
760.60
|
766.40
|
|
|
5.80
|
1.49
|
1.49
|
|
Area 51- Enterprise
Zone 2
|
10125
|
FA-20-120
|
No significant assay
results**
|
FA-20-121
|
67.00
|
68.50
|
|
|
1.50
|
5.54
|
5.54
|
|
Area 51- Andromeda
Zone 2
|
9975
|
FA-20-123
|
160.90
|
163.30
|
|
|
2.40
|
6.93
|
6.93
|
|
Area 51- New Eastern
Zone
|
10350
|
FA-20-123
|
Including…
|
162.30
|
163.30
|
1.00
|
16.50
|
16.50
|
|
Area 51- New Eastern
Zone
|
10350
|
FA-20-123
|
612.20
|
614.40
|
|
|
2.20
|
8.28
|
8.28
|
VG
|
Area 51 - Titan Zone
1
|
10350
|
FA-20-123
|
Including…
|
613.80
|
614.40
|
0.60
|
14.59
|
14.59
|
VG
|
Area 51 - Titan Zone
1
|
10350
|
FA-20-123
|
724.15
|
728.00
|
|
|
3.85
|
2.31
|
2.31
|
VG
|
Area 51 - Laika Zone
1 and Andromeda Zone 4
|
10350
|
FA-20-123
|
774.00
|
789.70
|
|
|
15.70
|
1.00
|
1.00
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
FA-20-123
|
Including…
|
787.50
|
789.70
|
2.20
|
6.09
|
6.09
|
|
Area 51 - Andromeda
Zone 2
|
10350
|
FA-20-124
|
121.00
|
141.00
|
|
|
20.00
|
1.12
|
1.12
|
VG
|
Area 51 - Andromeda
Zone 2
|
9975
|
FA-20-124
|
Including…
|
137.00
|
141.00
|
4.00
|
3.93
|
3.93
|
VG
|
Area 51 - Andromeda
Zone 2
|
9975
|
FA-20-124
|
Which
includes…
|
137.00
|
137.50
|
0.50
|
21.00
|
21.00
|
VG
|
Area 51 - Andromeda
Zone 2
|
9975
|
FA-20-124A
|
No significant assay
results**
|
FA-20-127
|
360.15
|
365.00
|
|
|
4.85
|
1.13
|
1.13
|
VG
|
Area 51 -Titan Zone
2
|
10125
|
FA-20-127
|
457.65
|
460.40
|
|
|
2.75
|
2.56
|
2.56
|
|
Area 51 -Laika Zone
2
|
10125
|
FA-20-127
|
508.85
|
540.70
|
|
|
31.85
|
1.05
|
1.05
|
|
Area 51 -Andromeda
Zone 4
|
10125
|
FA-20-127
|
691.85
|
693.00
|
|
|
1.15
|
8.84
|
8.84
|
|
Area 51 -Interstellar
Zone 2
|
10125
|
FA-20-127
|
780.60
|
789.00
|
|
|
8.40
|
1.09
|
1.09
|
|
Area 51 -Enterprise
Zone 4
|
10125
|
FA-20-128
|
94.50
|
115.50
|
|
|
21.00
|
1.71
|
1.71
|
|
Area 51- Orion Zone
2
|
9975
|
FA-20-128
|
Including…
|
100.50
|
103.50
|
3.00
|
5.72
|
5.72
|
|
Area 51- Orion Zone
2
|
9975
|
FA-20-128
|
166.60
|
167.20
|
|
|
0.60
|
121.00
|
121.00
|
VG
|
Area 51- Orion Zone
1
|
9975
|
FA-20-128
|
377.35
|
378.00
|
|
|
0.65
|
15.10
|
15.10
|
VG
|
Area 51- Laika Zone
2
|
9975
|
FA-20-128
|
393.00
|
393.60
|
|
|
0.60
|
17.92
|
17.92
|
VG
|
Area 51- Andromeda
Zone 4
|
9975
|
FA-20-128
|
600.90
|
618.15
|
|
|
17.25
|
1.00
|
1.00
|
|
Area 51 -
Interstellar Zone 1 and Enterprise Zone 4
|
9975
|
FA-20-128
|
697.00
|
697.95
|
|
|
0.95
|
5.61
|
5.61
|
|
Area 51- Enterprise
Zone 4
|
9975
|
FA-20-128
|
747.10
|
748.35
|
|
|
1.25
|
4.90
|
4.90
|
|
Area 51 - Enterprise
Zone 1
|
9975
|
FA-20-128
|
772.10
|
783.50
|
|
|
11.40
|
1.46
|
1.46
|
|
Area 51- Milky Way
Zone 3
|
9975
|
FA-20-128
|
Including…
|
779.35
|
780.50
|
1.15
|
9.76
|
9.76
|
|
Area 51- Milky Way
Zone 3
|
9975
|
FA-20-128
|
811.40
|
814.80
|
|
|
3.40
|
4.29
|
4.29
|
|
Area 51- Milky Way
Zone 2
|
9975
|
FA-20-129
|
443.00
|
445.00
|
|
|
2.00
|
3.35
|
3.35
|
|
Area 51- Titan Zone
3
|
10200
|
FA-20-129
|
462.50
|
466.00
|
|
|
3.50
|
2.06
|
2.06
|
|
Area 51- Titan Zone
2
|
10200
|
FA-20-129
|
485.00
|
486.00
|
|
|
1.00
|
5.77
|
5.77
|
|
Area 51 - Titan Zone
1
|
10200
|
FA-20-129
|
571.00
|
599.55
|
|
|
28.55
|
1.18
|
1.18
|
VG
|
Area 51 - Laika Zone
1
|
10200
|
FA-20-129
|
Including…
|
588.50
|
599.55
|
11.05
|
2.52
|
2.52
|
VG
|
Area 51 - Laika Zone
1
|
10200
|
FA-20-132
|
161.50
|
172.20
|
|
|
10.70
|
1.26
|
1.26
|
VG
|
Area 51- Andromeda
Zone 2
|
10050
|
FA-20-132
|
Including…
|
169.50
|
172.20
|
2.70
|
4.34
|
4.34
|
VG
|
Area 51- Andromeda
Zone 2
|
10050
|
FA-20-133
|
567.00
|
570.00
|
|
|
3.00
|
8.00
|
8.00
|
|
Area 51 -Laika Zone
1
|
10125
|
FA-20-133
|
Including…
|
567.00
|
568.00
|
1.00
|
21.58
|
21.58
|
|
Area 51 -Laika Zone
1
|
10125
|
FA-20-134
|
86.10
|
89.00
|
|
|
2.90
|
2.10
|
2.10
|
|
Area 51-Orion Zone
4
|
9975
|
FA-20-134
|
173.35
|
179.30
|
|
|
5.95
|
1.93
|
1.93
|
|
Area 51- Orion Zone
2
|
9975
|
FA-20-134
|
Including…
|
178.70
|
179.30
|
0.60
|
10.40
|
10.40
|
|
Area 51- Orion Zone
2
|
9975
|
FA-20-134
|
210.60
|
211.30
|
|
|
0.70
|
8.30
|
8.30
|
|
Area 51- Orion Zone
1
|
9975
|
FA-20-134
|
921.20
|
930.50
|
|
|
9.3
|
1.43
|
1.43
|
VG
|
Area 51- Milky Way
Zone 1
|
9975
|
FA-20-134
|
Including…
|
929
|
930.5
|
1.50
|
4.11
|
4.11
|
|
Area 51- Milky Way
Zone 1
|
9975
|
FA-20-134
|
954.00
|
990.90
|
|
|
36.9
|
1.07
|
1.07
|
|
Area 51-MIB Zone
3
|
9975
|
FA-20-134
|
Including…
|
963.3
|
964.1
|
0.80
|
12.00
|
12.00
|
|
Area 51- MIB Zone
1
|
9975
|
FA-20-134
|
And…
|
977.25
|
979.35
|
2.10
|
7.07
|
7.07
|
|
Area 51- MIB Zone
1
|
9975
|
FA-20-137
|
102.00
|
126.00
|
|
|
24.00
|
1.18
|
1.18
|
VG
|
Area 51- Titan Zone
3
|
10050
|
FA-20-137
|
Including…
|
117.00
|
118.50
|
1.50
|
9.55
|
9.55
|
|
Area 51- Titan Zone
3
|
10050
|
(1) Table includes only
assay results received since the latest press release on Area 51
results dated March 4, 2020.
|
(2) Au cut at 140 g/t following
InnovExplo's 2016 Mineral Resource Estimate.
|
(3) Intervals containing visible gold
("VG").
|
* Results reported
here are in addition to previously announced intervals from the
same drill holes
|
** Metal factor of at
least 5 g/t*m and minimum weighted average composite grade of 1 g/t
Au
|
Note: True widths are
estimated to be 50-80% of the reported core length
intervals.
|
About Fenelon
Fenelon is located along the Detour-Fenelon Gold Trend, an
emerging gold belt in northwestern Quebec related to the Sunday Lake Deformation
Zone. This major east-west structure in the northern Abitibi
greenstone belt hosts the Detour Lake mine and is very similar to
other breaks controlling world-class gold camps in the southern
Abitibi, yet it remains underexplored due to thick glacial
cover.
At Fenelon, secondary splays of the Sunday Lake Deformation Zone
have controlled the emplacement of a significant gold system along
and within the Jérémie Pluton. Historically, exploration has
focused on high-grade shear zones hosted in the Main Gabbro, where
Wallbridge completed a bulk sample of 33,500 tonnes grading 18.49
g/t gold.
In late 2018, exploration drilling discovered a new geologic
setting with extensive vein- and shear-hosted gold mineralization
along and within the pluton, naming it Area 51. The 75,000-metre
2019 drill program has significantly expanded the footprint and
depth extent of Area 51 as well as the Tabasco and Cayenne shear
zones, thereby demonstrating the large size potential of the
Fenelon gold system. The ongoing, fully funded 70,000 to
80,000-metre 2020 drill program (revised from original 100,000 to
120,000-metre guidance due to COVID-19) is aiming to further define
the size potential of the deposit and complete in-fill drilling in
support of a maiden 43-101 resource estimate.
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
either SGS Canada Inc. or ALS Canada Ltd. for analysis. Samples,
along with standards, blanks and duplicates included for quality
assurance and quality control, were prepared and analyzed at SGS
Canada Inc. or ALS Canada Ltd. laboratories. Samples are crushed to
90% or 95% less than 2mm. A 1kg riffle split is pulverized to
>95% passing 106 microns or 85% passing 75 microns. 50g samples
are analyzed by fire assay and AAS. At SGS, samples >10g/t Au
are automatically analyzed by fire assay with gravimetric finish or
screen metallic analysis. To test for coarse free gold and for
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 Evan Slater,
P.Geo., M.Sc., Senior Project Geologist of Wallbridge.
About Wallbridge Mining
Wallbridge is establishing a pipeline of projects that will
support sustainable 100,000 ounce-plus annual gold production as
well as organic growth through exploration and scalability.
The Company is currently developing its 100%-owned Fenelon gold
property, which is located along the Detour-Fenelon Gold Trend, an
emerging gold belt in northwestern Quebec with an ongoing 70,000 to 80,000-metre
exploration drill program in 2020 and a 33,500-tonne bulk sample
and 75,000 metres of drilling completed in 2019. Wallbridge is also
pursuing additional advanced-stage projects which would add to the
Company's near-term project pipeline. Wallbridge is also the
operator of, and a 16.5% shareholder in, Loncan Canada Inc., a
privately-held company with a large portfolio of nickel, copper,
and PGM projects in Ontario's
Sudbury Basin.
As announced in Wallbridge press release dated March 2, 2020, Wallbridge and Balmoral Resources
Ltd. ("Balmoral") have entered into a definitive agreement,
whereby Wallbridge will, among other things, acquire all of the
issued and outstanding shares of Balmoral, in an all-stock
transaction. The Balmoral
transaction secures for Wallbridge a buffer of several kilometres
surrounding its rapidly expanding Fenelon discovery providing room
for growth, as well as future mine development flexibility. The
transaction also significantly expands Wallbridge's land holdings
in Quebec along the Detour-Fenelon
Gold Trend (from 10.5 km2 to 739.0 km2),
improving the Company's potential for further discoveries in this
under-explored belt. As announced in Wallbridge Press Release dated
May 8, 2020, at a special meeting of
Balmoral securityholders held on
May 7, 2020, Balmoral securityholders voted overwhelmingly
in favour of the resolution approving the acquisition of
Balmoral by Wallbridge by way of a
plan of arrangement. On May 13, 2020,
Balmoral announced that it has
obtained the final order from the Supreme Court of British Columbia approving the announced plan
of arrangement with Wallbridge. It is currently anticipated
that the Balmoral transaction will
close on or about May 22, 2020, and
that the Balmoral shares will be
delisted from trading on the Toronto Stock Exchange on or around
May 25, 2020.
This press release may contain forward-looking statements
(including "forward-looking information" within the meaning of
applicable Canadian securities legislation and "forward-looking
statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995) relating to, among other things, the
operations of Wallbridge and the environment in which it operates.
Generally, forward-looking statements can be identified by the use
of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Wallbridge has relied on
a number of assumptions and estimates in making such
forward-looking statements, including, without limitation, the
costs associated with the development and operation of its
properties. Such assumptions and estimates are made in light of the
trends and conditions that are considered to be relevant and
reasonable based on information available and the circumstances
existing at this time. A number of risk factors may cause actual
results, level of activity, performance or outcomes of such
exploration and/or mine development to be materially different from
those expressed or implied by such forward-looking statements
including, without limitation, whether such discoveries will result
in commercially viable quantities of such mineralized materials,
the possibility of changes to project parameters as plans continue
to be refined, the ability to execute planned exploration and
future drilling programs, the need for additional funding to
continue exploration and development efforts, changes in general
economic, market and business conditions, and those other risks set
forth in Wallbridge's most recent annual information form under the
heading "Risk Factors" and in its other public filings.
Forward-looking statements are not guarantees of future performance
and such information is inherently subject to known and unknown
risks, uncertainties and other factors that are difficult to
predict and may be beyond the control of Wallbridge. Although
Wallbridge has attempted to identify important risks and factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors and risks that cause actions, events or
results not to be as anticipated, estimated or intended.
Consequently, undue reliance should not be placed on such
forward-looking statements. In addition, all forward-looking
statements in this press release are given as of the date
hereof.
Wallbridge disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, save and except as may
be required by applicable securities laws. The forward-looking
statements contained herein are expressly qualified by this
disclaimer.
SOURCE Wallbridge Mining Company Limited