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Wallbridge Mining Identifies Two New Gold Zones at Fenelon
TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that its 2023
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":" TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced that its 2023 exploration drill program has greatly expanded the footprint of the gold mineralization at its 100%-owned Fenelon gold project (“Fenelon”). The initial drill results have identified new, near-surface gold mineralization 1 kilometre to the northwest and 2.5 kilometres to the east of the 2023 Mineral Resource Estimate (“MRE”). Encouraging initial drill results were returned at Target 1 and Target 5, two of the six high-priority grassroots exploration targets located outside the main resource area that were identified as part of the Company’s 2023 exploration program and described in the March 8, 2023, news release. Drilling is continuing with additional results pending. Attila Péntek, Wallbridge’s Vice President, Exploration, commented: “The Target 1 intersection, located in a newly-discovered Jeremie Diorite body, has now opened up a new area for future exploration and shows the excellent potential to significantly expand the known extent of the mineralized footprint of our flagship project. The area extending several kilometres east of the Fenelon deposit had been identified as having the right geologic ingredients for gold deposition. Our initial results at Target 5 confirm our exploration thesis here.” One of two holes drilled at Target 1 intersected 0.96 g/t Au over 21.05 metres, including 3.45 g/t Au over 2.20 metres (hole FA-23-546), starting at a vertical depth of only 40 metres, in a previously unknown offshoot of the Jeremie Diorite located approximately one kilometer northwest of the Fenelon mineral resource. The Jeremie Diorite is a key host rock for gold mineralization in multiple prolific zones at Fenelon. At Target 5, located approximately two kilometres to the east of the Fenelon deposit, two holes were drilled to follow up on favorable geology and anomalous gold mineralization encountered in historic holes. Hole FA-23-551 intersected a 150-meter-wide corridor beginning at a vertical depth of 100 metres and defined by multiple gold-mineralized silicified shear zones with assay results up to 14.90 g/t Au over 0.50 metres. This corridor is interpreted to represent a splay of the Sunday Lake Deformation Zone which is the main control for gold mineralizati...