Mining News

Wallbridge extends Fenelon gold system in multiple directions

Wallbridge Mining Company (TSX: WM) has received additional assay results from ongoing drilling at the Fenelon gold project, where it has been extending the near-surface mineralization at Area 51 and recently confirmed its continuity at depth by establishing underground access.

The Fenelon project is located 80 km east of Agnico Eagle’s Detour Lake gold mine at the centre of Wallbridge’s land package, which covers roughly 910 sq. km. of the the Detour-Fenelon gold trend in northwestern Quebec.

The latest drill results continue to demonstrate significant expansion potential of the Fenelon gold deposit, both within and beyond its known footprint. As outlined in the 2021 mineral resource estimate (MRE), Fenelon currently contains 36 million indicated tonnes grading 1.84 g/t gold for 2.1 million contained oz. and 29 million inferred tonnes at 1.57 g/t for 1.5 million contained oz.

Within the MRE footprint was an intercept of 2.53 g/t gold over 27.5 metres in the Interstellar 3 zone of Area 51, about 80 metres below the underground exploration drift, demonstrating good continuity of this zone.

Drilling near the Contact zone, in a new Area 51 zone southeast of the MRE, yielded 2.14 g/t gold over 15.5 metres, including 4.83 g/t gold over 2.1 metres and 5.2 g/t gold over 4 metres; 1.35 g/t gold over 19.5 metres, including 6.76 g/t gold over 3 metres; and 37.55 g/t gold over 0.55 metre. There was also an intercept of 0.95 g/t gold over 24 metres along the Contact zone close to the eastern edge of the MRE.

Lateral expansion also occurred to the west-southwest. Drilling near the Contact zone within Area 51, west of the MRE, returned 1.19 g/t gold over 49.25 metres, including 9.43 g/t gold over 3.5 metres. Two holes, which yielded 46.9 g/t gold over 0.5 metre and 45.94 g/t gold over 0.5 metre respectively, also extended the Area 51 mineralization west of the MRE. Another hole, with 16.69 g/t gold over 1.3 metres, extended Area 51 to the southwest.

“The resource expansion drilling completed at Fenelon since the beginning of the year has met our expectations, confirming the potential to add resources in close proximity to the 2021 MRE that can be included in the next resource update,” Attila Péntek, Wallbridge’s VP of exploration, commented.

“Over the coming months, we will continue to focus on areas with the strongest potential to add high-quality gold ounces, which will inform our decisions regarding the optimal mine configuration for Fenelon in upcoming economic studies,” Péntek added.

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