WALLBRIDGE MINING COMPANY LIMITED Highlights
Main Gabbro in-fill drilling continues to define high-grade shoots near existing mine workings
20-1100-011: 4.88 g/t Au over 18.95 metres, including 96.90 g/t Au over 0.70 metre in the
20-1100-010: 5.84 g/t Au over 6.80 metres, including 37.70 g/t Au over 1.00 metre in the
Tabasco-Cayenne step-out drilling extends mineralization over 100 metres down-plunge
FA-20-134: 4.06 g/t Au over 51.70 metres. This intercept includes 8.41 g/t Au over 19.15 metres (which further includes 41.01 g/t Au over 3.65 metres) as announced in Wallbridge's press release dated
Area 51 in-fill drilling continues to demonstrate near surface, potentially open pittable zones
FA-20-125: 15.73 g/t Au over 3.00 metres in the
FA-20-136: 1.17 g/t Au over 38.50 metres, including 47.40 g/t Au over 0.50 metre in the
FA-20-135: 1.38 g/t Au over 16.70 metres, including 2.85 g/t Au over 4.70 metres in the Andromeda and Interstellar Zones
FA-20-131: 1.16 g/t Au over 16.50 metres, including 7.50 g/t Au over 1.50 metres in the
'We are excited to have ramped up the drilling program to six drill rigs again and thank all the employees, service providers and local communities for working together to safely execute our exploration activities in these challenging times amidst the COVID-19 pandemic,' stated
2020 Drilling Program Update
As announced previously, exploration activities at Fenelon were temporarily suspended from
Currently, four of six drill rigs are focusing on expanding the Tabasco-Cayenne-Area 51 mineralization on the original Fenelon Gold Property, doing a combination of 50-100-metre step-outs and tighter-spaced in-fill drilling. The Company estimates approximately 80,000 metres of drilling will be completed as part of this program by year-end, with 35,000 metres completed to date.
The other two drill rigs are active on the newly-acquired portion of the Fenelon Gold Property to follow-up on the Reaper and Ripley gold discoveries made in 2019 and 2020 by the
About
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 advancing the exploration and development of its 100%-owned Fenelon Gold Property, which is located along the Detour-Fenelon Gold Trend, an emerging gold belt in northwestern
As announced on
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 17.8% shareholder in,
Contact:
Tel: (705) 682-9297
Email: mkord@wallbridgemining.com
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.
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