Wallbridge Mining Hits High-Grade Gold at Fenelon Project

Exciting Discoveries from Wallbridge Mining at Fenelon

Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) is thrilled to share recent drilling updates from its fully owned Fenelon Gold Project. The latest results from a comprehensive Phase 2 drill program have unveiled further high-grade gold mineralization evidence, bolstering the project's anticipated potential.

Details of The Phase 2 Drilling Program

This recent program consisted of 1,303 metres of drilling performed in September, characterized by four highly focused infill holes aimed at enhancing the understanding of the gold mineral resources within the upper levels of the high-grade Tabasco zone. The targeted area, approximately 150 metres by 250 metres, produced noteworthy assay results.

Key Highlights from the Assay Results

The assay results revealed significant intersections of gold mineralization, including:

• 5.68 grams per tonne (g/t) over 1.5 metres in drill hole FA-24-581
• 14.66 g/t over 1.5 metres and 3.93 g/t over 2.5 metres in drill hole FA-24-582
• 7.03 g/t over 0.5 metres within FA-24-583 and 2.70 g/t over 3.0 metres
• 5.92 g/t over 2.7 metres in drill hole FA-24-584

Management’s Remarks

Brian W. Penny, Chief Executive Officer of Wallbridge, expressed his satisfaction regarding the latest results. He indicated that these findings further confirm the position and extent of principal structures extending upwards from the core of the Fenelon gold resource. The company anticipates sharing the results of an updated Preliminary Economic Assessment for Fenelon in the near future.

Previous Drilling Success

Throughout 2023, Wallbridge has reported a series of encouraging results from prior delineation and infill drilling at Fenelon. These efforts were significant in their intent to build upon the foundations laid by previous mineral resource estimates, which have now positioned Fenelon as a promising site for continued exploration.

Quality Assurance Protocols

Wallbridge employs rigorous quality assurance and quality control protocols throughout its exploration projects. The main strategies implemented involve a secure chain of custody for samples, consistent checks utilizing certified reference materials, and independent secondary analyses performed at accredited laboratories.

Drill core samples have been meticulously processed, halved, and carefully transported to SGS Canada Inc. in Val d’Or for analysis. Here, samples are refined using a fire assay method paired with ICP-OES techniques to ensure precision in measuring gold content.

About Wallbridge Mining Company Limited

Wallbridge is dedicated to enhancing value through the strategic exploration and sustainable development of gold projects located along the Detour-Fenelon Gold Trend in Québec’s Northern Abitibi region. The company holds significant gold resources amounting to 3.05 million ounces of indicated gold and an additional 2.35 million ounces classified as inferred resources across its Fenelon and Martiniere projects.

Looking Ahead

Wallbridge's successful drilling results positioned Fenelon not only as a key part of the company's portfolio but also as a project boasting a positive Preliminary Economic Assessment. The assessment indicates a remarkable production estimate of 212,000 ounces of gold annually over a twelve-year span, affirming the project's viability.

Frequently Asked Questions

What is the significance of the drilling results at Fenelon?

The latest drilling results indicate high-grade gold mineralization, confirming the project's resource potential.

How does Wallbridge ensure quality in its drilling programs?

Wallbridge employs strict quality assurance and control measures, including reliable sample handling and rigorous laboratory analyses.

What future plans does Wallbridge have for the Fenelon project?

Wallbridge plans to release an updated Preliminary Economic Assessment and continue regular updates on corporate activities.

How much gold resource does Wallbridge have in its projects?

Wallbridge reports 3.05 million ounces of indicated gold resources plus 2.35 million ounces inferred across its projects.

Who can I contact for more information about Wallbridge Mining?

For inquiries, Brian Penny, CEO, can be contacted at (416) 716-8346 or via email at bpenny@wallbridgemining.com.

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