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Message: WM Intersects 5 g/t over 100 M, 29 g/t over 7.3 M at Tabasco-Cayenne
Wallbridge Intersects 5.07 g/t Au over 100.6 metres, including 29.03 g/t Au over 7.30 metres in the Tabasco-Cayenne Zones
    

TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM) (“Wallbridge” or the “Company”) is pleased to announce that assay results from the ongoing 100,000-metre 2020 drilling program on its 100%-owned Fenelon Gold Property (“Fenelon” or the “Property”) continue to establish the high-grade core of the Tabasco-Cayenne shear system with good gold grades over widths consistently measured in the tens of metres. This high-grade core forms a central portion of the larger shear corridor which has so far been drilled over a strike length of 800 metres and a vertical depth of 1,000 metres.

Fenelon Gold System In-fill and Expansion Drilling

The results from drill hole FA-20-181 reported today, fill in a large drilling gap in the core of the Tabasco-Cayenne zones and provide a strong, wide intersection with a much higher “metal factor” (grade multiplied by width = 510-gram metres of gold) than the nearest drill holes 40 to 60 metres away (see Figs. 12 and 3):

FA-20-181  5.07 g/t Au (4.20 g/t Au Cut) over 100.6 metres, including
  6.32 g/t Au over 35.10 metreswhich further includes 16.26 g/t Au over 7.65 metres in the Tabasco Zone; and
  29.03 g/t Au (17.03 g/t Au Cut) over 7.30 metres in the Cayenne Zone

“This intersection lines up well with the interpreted plunge of the high-metal factor domain and along with similar previous intersections, such as 4.84 g/t Au over 56.00 metres in FA-20-128 and 4.06 g/t Au over 51.70 metres in FA-20-134. We are beginning to outline a large area of good gold grades over tens of metres of true thickness including several higher grade shear zones indicating good optionality for future underground production scenarios, stated Attila Péntek, Vice President Exploration of Wallbridge.

Before intercepting the Tabasco and Cayenne Zones the drill holes pass through the Area 51 vein network located immediately to the south of Tabasco-Cayenne. Highlight intersections from Area 51 veins in these holes are as follows:

FA-20-181 2.69 g/t Au over 9.00 metres in the Titan Zone
  92.60 g/t Au over 1.00 metre in the Laika Zone, and
  1.33 g/t Au over 52.80 metres, including 6.87 g/t Au over 3.30 metres in the Andromeda Zone (see Figs. 2 and 4);
   
FA-20-185 11.88 g/t Au over 3.00 metres in the Enterprise Zone (see Figs. 2 and 3);

In-fill and expansion drill results continue to define the Fenelon Gold System in preparation for a maiden resource estimate anticipated for the third quarter of 2021, whereas exploration results are demonstrating the connection of the Fenelon Gold System to the Sunday Lake Deformation Zone (Fig. 2).

Assay results of seven drill holes and wedge cuts of the Fenelon Gold System in-fill and expansion drilling are released today, representing a total of approximately 5,200 metres (Table 1).

Fenelon Exploration Drilling

Results of the initial exploration drill program testing the connection of the Fenelon Gold System to the Ripley-Reaper area and the Sunday Lake Deformation Zone are also released today, representing approximately 10,000 metres (Table 2).

Thus far, the initial 13 holes drilled, have demonstrated Area 51-style mineralization with visible gold-bearing quartz-sulfide veining hosted by the Jeremie Diorite and surrounding sedimentary rocks throughout the approximately 800 by 500 metre area tested and consist of wide, low-grade zones containing higher grade veins, such as 0.80 g/t Au over 22.90 metres (including 10.74 g/t Au over 0.75 metres and 16.74 g/t Au over 0.75 metresin FA-20-183, 0.65 g/t Au over 25.50 metres and 2.64 g/t Au over 6.00 metres in FA-20-187 and 1.56 g/t Au over 8.65 metres in FA-20-172 (see Fig 2).

Further drilling, especially at greater depth and along strike is required to test for higher grade Area 51-style mineralization and the potential extension of Tabasco-Cayenne-style high-grade shear zones into this large area between the currently known footprint of the Fenelon Gold System and the Sunday Lake Deformation Zone.

2020-2021 Drilling Program Update

To October 31, 2020, approximately 85,500 metres of the planned 100,000-metre 2020 drilling program have been completed at Fenelon. Currently, five of seven drill rigs are targeting the Fenelon Gold System (Tabasco-Cayenne-Area 51 mineralization), carrying out a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. Two drill rigs are actively exploring the connection of the Fenelon Gold System to the Ripley-Reaper area and the Sunday Lake Deformation Zone, as well as the extensions of the Tabasco-Cayenne corridor to the west.

Consideration has been given to increasing the scope and size of the 2020 and 2021 drilling programs to be able to fully assess the ultimate size potential of this rapidly growing gold system (see Wallbridge Press Release dated Oct 13, 2020). In 2021, the Company is planning to complete an approximately 150,000-metre drill program and working toward a maiden resource estimate at Fenelon, anticipated for the third quarter of 2021. Approximately 10-15% of the drilling program will be devoted to regional exploration on the Company’s district-scale, underexplored land package on the Detour-Fenelon Gold Trend.

Final assay results of 16 surface drill holes (FA-20-163, -164, -166-W1, -170, -172, -173, -174, -178, -179, -180, -182, -183, -184, -187, -189, and -194) and partial assay results of four surface drill holes (FA-20-176, -181, -184-W1 and -185) of the 2020 exploration drill program are reported in the Tables and s 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://www.wallbridgemining.com/s/fenelon.asp.

Figure 1. Fenelon Gold, Tabasco Long Section
https://www.globenewswire.com/NewsRoom/AttachmentNg/86ffef42-f63d-4bd6-a6cb-f58362c71d68

Figure 2Fenelon Gold, Plan View
https://www.globenewswire.com/NewsRoom/AttachmentNg/5867c589-a49d-4690-80d5-1d5f59ffbeff

Figure 3Fenelon Gold, Cross Section 10050_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/43d64ebf-ff7e-4e5d-9330-bd6b4501ae9d

Figure 4Fenelon Gold, Cross Section 10125_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/2d73597b-defd-4dbb-b9dd-42f1aba957cf

Figure 5Fenelon Gold, Cross Section 10200_E
https://www.globenewswire.com/NewsRoom/AttachmentNg/78e3443d-10b5-4876-9f7f-4b3dcf93228f

Table 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section
  (m) (m) (m) (g/t) (g/t)      
FA-20-164 425.00 428.00 3.00 2.55 2.55   Area 51- Orion Zone 2 and 3 10200
FA-20-164 678.00 684.00 6.00 1.36 1.36 VG Area 51- Titan Zone 1 10200
Including… 682.00 684.00 2.00 2.67 2.67 VG Area 51- Titan Zone 1 10200
FA-20-164 827.50 841.00 13.50 1.96 1.96 VG Area 51- Andromeda Zone 3
and 4
10200
Including… 832.00 833.00 1.00 9.54 9.54 VG Area 51- Andromeda Zone 4 10200
And… 840.00 841.00 1.00 11.80 11.80 VG Area 51- Andromeda Zone 3 10200
FA-20-164 992.00 996.30 4.30 3.71 3.71 VG Area 51- Enterprise Zone 3
and 4
10200
Including… 993.80 994.35 0.55 25.10 25.10 VG Area 51- Enterprise Zone 3
and 4
10200
FA-20-164 1036.90 1046.20 9.30 1.03 1.03   Tabasco 10125
FA-20-164 1111.10 1114.00 2.90 5.20 5.20   Cayenne 10125
FA-20-166-W1 No Significant Mineralization*
FA-20-176 707.30 711.85 4.55 2.52 2.52 VG Area 51- Titan Zone 1 and
Laika Zone 3
10200
FA-20-176 918.00 919.00 1.00 29.60 29.60 VG Area 51- Andromeda Zone 1 and
Interstellar Zone 3
10200
FA-20-181 178.00 187.00 9.00 2.69 2.69 VG Area 51- Titan Zone 1 and 2 10125
Including… 181.00 182.50 1.50 6.85 6.85   Area 51- Titan Zone 1 and 2 10125
FA-20-181 264.00 265.00 1.00 92.60 92.60   Area 51- Laika Zone 2 10125
FA-20-181 328.00 380.80 52.80 1.33 1.33   Area 51- Laika Zone 1 to
Andromeda Zone 3
10125
Including… 377.50 380.80 3.30 6.87 6.87   Area 51- Andromeda Zone 3 10125
FA-20-181 684.00 684.50 0.50 26.40 26.40   Tabasco 10050
FA-20-181 699.00 799.60 100.60 5.07 4.20 VG Tabasco 10050
Including… 699.00 734.10 35.10 6.32 6.32 VG Tabasco 10050
And… 713.50 721.15 7.65 16.26 16.26 VG Tabasco 10050
And… 792.30 799.60 7.30 29.03 17.03 VG Tabasco 10050
FA-20-181 816.15 819.70 3.55 1.93 1.93   Tabasco 10050
FA-20-184 470.50 472.00 1.50 3.60 3.60   Area 51- Andromeda Zone 1 and 2 10275
FA-20-184 550.90 556.50 5.60 1.87 1.87   Tabasco 10275
Table 1. Wallbridge Fenelon Gold Property 2020 Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section
  (m) (m) (m) (g/t) (g/t)      
FA-20-181 816.15 819.70 3.55 1.93 1.93   Tabasco 10050
FA-20-184 470.50 472.00 1.50 3.60 3.60   Area 51- Andromeda Zone 1
and 2
10275
FA-20-184 550.90 556.50 5.60 1.87 1.87   Tabasco 10275
Including… 554.05 556.50 2.45 2.85 2.85   Tabasco 10275
FA-20-184 598.10 599.90 1.80 4.31 4.31   Tabasco 10275
Including… 598.10 598.85 0.75 6.80 6.80   Tabasco 10275
FA-20-184 635.00 639.60 4.60 2.31 2.31   Tabasco 10275
Including… 635.00 636.10 1.10 8.63 8.63   Tabasco 10275
FA-20-184-W1 403.05 418.20 15.15 1.06 1.06   Area 51- Andromeda Zone 2
and 3
10275
FA-20-185 632.50 635.50 3.00 11.88 11.88   Area 51- Enterprise Zone 2 9975
Including… 632.50 634.00 1.50 19.42 19.42   Area 51- Enterprise Zone 2 9975
FA-20-185 698.00 704.00 6.00 2.04 2.04   Area 51- Enterprise Zone 1
and Milky Way Zone 3
9975
FA-20-185 728.00 732.00 4.00 2.41 2.41   Tabasco 9975
FA-20-185 742.80 748.50 5.70 1.39 1.39   Tabasco 9975
FA-20-185 755.50 760.05 4.55 1.60 1.60   Tabasco 9975
FA-20-185 783.30 793.10 9.80 1.66 1.66   Tabasco 9975
Including… 784.50 785.55 1.05 5.40 5.40   Tabasco 9975

 

Table 2. Wallbridge Fenelon Gold Property (Newly acquired portion) 2020 Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section
  (m) (m) (m) (g/t) (g/t)      
FA-20-163 431.45 432.80 1.35 4.24 4.24   Area 51 South Extension 10725
FA-20-170 438.60 441.00 2.40 2.22 2.22   Ripley Zone 10725
FA-20-170 676.00 684.50 8.50 0.79 0.79 VG  Ripley Zone 10725
FA-20-172 346.70 347.50 0.80 6.13 6.13   Area 51 South Extension 10900
FA-20-172 384.30 386.00 1.70 5.26 5.26 VG Area 51 South Extension 10900
FA-20-172 438.00 446.65 8.65 1.56 1.56 VG Area 51 South Extension 10900
Including… 438.00 440.90 2.90 3.72 3.72   Area 51 South Extension 10900
Table 2. Wallbridge Fenelon Gold Property (Newly acquired portion) 2020 Drill Assay Highlights (1)
Drill Hole From To Length Au Au Cut(2) VG(3) Zone/Corridor Section
  (m) (m) (m) (g/t) (g/t)      
FA-20-172 493.60 495.00 1.40 2.19 2.19   Area 51 South Extension 10900
FA-20-173 No Significant Mineralization*
FA-20-174 No Significant Mineralization*
FA-20-178 416.50 419.50 3.00 2.19 2.19   Area 51 South Extension 10900
FA-20-178 446.50 449.00 2.50 1.61 1.61   Area 51 South Extension 10900
FA-20-179 No Significant Mineralization*
FA-20-180 188.20 189.95 1.75 4.15 4.15 VG Area 51 South Extension 9825
Including… 189.20 189.95 0.75 7.40 7.40   Area 51 South Extension 9825
FA-20-180 255.25 256.00 0.75 7.17 7.17   Area 51 South Extension 9825
FA-20-180 586.10 586.85 0.75 16.60 16.60 VG Area 51 South Extension 9825
FA-20-180 659.00 660.25 1.25 6.86 6.86   Area 51 South Extension 9825
FA-20-182 209.10 216.70 7.60 0.67 0.67   Area 51 West Extension  
Including… 209.10 211.05 1.95 1.52 1.52   Area 51 West Extension  
FA-20-183 339.40 362.30 22.90 0.80 0.80  VG Area 51 South Extension 9750
Including… 339.40 340.15 0.75 10.74 10.74 VG  Area 51 South Extension 9750
FA-20-183 772.90 773.60 0.70 16.23 16.23 VG Area 51 South Extension 9750
FA-20-187 337.00 362.50 25.50 0.65 0.65   Area 51 South Extension 10425
Including… 337.00 338.50 1.50 2.92 2.92   Area 51 South Extension 10425
And… 346.00 349.00 3.00 1.51 1.51   Area 51 South Extension 10425
FA-20-187 400.00 406.00 6.00 2.64 2.64   Area 51 South Extension 10425
FA-20-187 530.50 532.00 1.50 4.82 4.82   Area 51 South Extension 10425
FA-20-187 622.00 623.50 1.50 7.56 7.56   Area 51 South Extension 10425
FA-20-187 731.20 731.70 0.50 16.30 16.30 VG Area 51 South Extension 10425
FA-20-189 113.50 115.00 1.50 3.07 3.07   Area 51 South Extension 10425
FA-20-194 No Significant Mineralization

*Metal factor of at least 5 g/t*m and minimum weighted average composite grade of 1 g/t Au.
(1) Table includes only assay results received since the latest press release on Area 51 results dated Aug 13, 2020.
(2) Au cut at 140 g/t.
(3) Intervals containing visible gold ("VG").

Note: True widths are estimated to be 50-80% of the reported core length intervals.

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.

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